Worldway Group has learned from a report by Dominica News Online that the World Bank Board of Directors recently approved a $39.2 million project to support renewable energy development in Dominica. This marks the World Bank's second intervention in Dominica following its investment in May 2018. The project will be implemented by the Dominica Geothermal Development Company, with funding provided by the International Development Association (IDA) and the Clean Technology Fund (CTF), alongside technical assistance from the UK Department for International Development, the Government of New Zealand, and the Agence Française de Développement.
Currently, the Government of Dominica has formulated a National Resilience Development Strategy, which defines the country's vision as becoming the "world's first climate-resilient nation" and identifies the diversification of the energy mix as a key element of this strategy.
"This is an excellent opportunity for Dominica to achieve its energy and climate goals by investing in geothermal projects. The country has immense potential to provide low-cost, renewable, and high-quality energy to support climate-resilient growth," said Tahseen Sayed, World Bank Country Director for the Caribbean.
The Government of Dominica stated that this geothermal project is expected to significantly reduce electricity costs in the country and increase the share of renewable energy in Dominica's energy mix from 25% to 51%. The project will also allow for a proper assessment of Dominica's capacity to export its domestic geothermal energy to neighboring countries.
Worldway Group experts note that in recent years, Dominica has attracted increasing attention from high-net-worth investors. Located in the Caribbean, south of Miami, USA, Dominica is known as the "Second Home in the USA" and the "Pearl of the Caribbean." Its Citizenship by Investment program was officially enacted in 1993 and enshrined in the constitution. By investing in Dominica, investors can legally obtain Dominican citizenship without the requirement to reside in the country, making it one of the most stable citizenship-by-investment programs available.
Since its launch, the Dominica Citizenship by Investment program has been highly popular among global investors due to its low investment threshold, simple application process, and fast approval times. Among the investment options, the Economic Diversification Fund is a highly efficient, simple, and private way to obtain Dominican citizenship. Applicants can obtain Dominican citizenship for four generations of their family by making a donation starting from $100,000 to the national government fund and paying the relevant government fees, thereby enjoying the benefits of Commonwealth citizenship.
Advantages of Dominica Citizenship by Investment
1. Low investment amount, starting from $100,000, to legally obtain citizenship for four generations of the family in one go;
2. Short application cycle, typically approved within 1-2 months after submission;
3. Convenient travel, with the Dominica passport offering visa-free or visa-on-arrival access to over 130 countries and regions;
4. Children can enjoy free British-style education. If they return to China for further studies as international students, those who meet the criteria can easily enroll in top domestic universities without written exams. Commonwealth country academic credits are mutually recognized, allowing for transfers to other Commonwealth countries for study;
5. No immigration residency requirements, no requirement to land;
6. Favorable tax system, with no property tax, gift tax, foreign income tax, or capital gains tax;
7. Beautiful environment, a vacation paradise.
As a pioneer in Commonwealth passport programs and one of the most successful companies in promoting the Dominica Citizenship by Investment program, Worldway Group has maintained excellent trust, interaction, and cooperation with the governments of Commonwealth countries, including Dominica, for many years. Prime Minister of Dominica, Mr. Roosevelt Skerrit, has visited Worldway Group's senior management on multiple occasions.
In 2019, the year of identity planning, choose Worldway Group for your Dominica Citizenship by Investment application! Consultation Hotline: 400-138-2929
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