Dominica’s Prime Minister Roosevelt Skerrit has provided details of Dominica’s new Entrepreneurship Visa Programme. He did so during an address to members of the Dominica Association of Industry and Commerce.
The Entrepreneurship Visa Program was highlighted as a new path to obtaining citizenship in Dominica.
Prime Minister Skerrit explained that the Entrepreneurship Visa Program is a new platform for entrepreneurship financing and engagement, as well as an opportunity to generate new residency and consumer activity on the island.
The Entrepreneurship Visa Program is currently before the Cabinet for approval and will be launched early 2021.
Participants in the program would be encouraged to contribute US $50,000 into an investment fund for entrepreneurs or spend US $100,000 on starting a business in Dominica or providing equity investment in an existing local business.
Additionally, there would be a requirement to deposit US$100,000 in a local financial institution which could be used and depleted during their residency.
Applicants would be required to spend a minimum of 200 days over a two-year period. This and other requirements would qualify them to become citizens.