CBI Program generates over 1 billion dollars in three years, according to PM Skerrit

Prime Minister Hon. Roosevelt Skerrit has revealed that for the fiscal years 2017- 2020, 5, 814 applications have been approved under the Citizenship By Investment (CBI) Program, bringing in a total of over $1.2 billion dollars.

In a response to a question asked in Parliament by the Leader of the Opposition, the Prime Minister reported that in fiscal year 2017-2018, one thousand, six hundred and seventy-three (1673) citizenships were approved as follows: one thousand seventy-three (1073) under the Government cash option, two hundred and eighty five (285) under the Montreal Management Consultants Est. (MMCE) housing cash option, one hundred and eleven (111) for children and dependents under the cash option and  two hundred and four (204) under the real estate option.

For fiscal year 2018- 2019, the number increased to 1,926 as there were five hundred and seventy-nine (579) under the Government cash option, eight hundred and two (802) under the MMCE housing cash option, seventy-seven (77) for children and dependents under the cash option and four hundred and  sixty-eight (468) under the real estate option.

The number of approved citizenships further increased to 2215 in 2019-2020. According to the prime minister, there were three hundred and ninety-six (396) under the government cash option, one thousand  fifty-seven (1057) under the MMCE housing cash option, three hundred and nineteen (319) for children and dependents under the cash option, while four hundred and forty-three (443) were approved under the real estate option.

In terms of CBI generated revenue, the Prime Minister disclosed that three hundred and seventy eight million, six hundred forty-two thousand six hundred and ninety-two dollars and forty-two cents ($378, 642 692.42) was earned in 2017- 2018, four hundred and eight million, seven hundred and eighty seven thousand,  thirty-four dollars and twenty-three cents ($408, 787 034. 23) for 2018-2019 and for the year 2019 -2020,  four hundred and sixty  three million, six hundred and seventy-eight thousand, four hundred and  nine dollars and four cents ($463, 678 409. 04).

Based on the information presented by the Prime Minister, the total amount of money paid for citizenships under the CBI program for the fiscal years 2017 to 2020 is one billion two hundred fifty-one million one hundred eight thousand one hundred thirty-five dollars and sixty-nine cents ($1, 251 108 135.69).

Linton’s question to the Prime Minister asked for the  number of citizenships approved and the amount of  money paid for the approved citizenships broken down by economic development  fund, housing real estate, and any other citizenship  access options and receipt disbursement and year end balances for all special finds, trust funds, escrow  accounts and other accounts operation with money derived from and or connected to the CBIP.

The part of the Leader of the Opposition’s question which asked for receipt disbursement and year end balances for all accounts connected to the CBI Program, was not answered in the House.

Meantime, Minister for Health, Wellness and New Health Investment, Dr Irving McIntyre, has indicated that the new Marigot Hospital is being constructed by Montreal Management Consultant Establishment (MMCE) with funds from the CBI Program.

Dr. McIntyre was responding to a question from Opposition Leader, Lennox Linton, in Parliament on Monday. Linton asked for the tender requirement for the design and  construction of the Marigot hospital and health center pursuant to the provision of the Dominica  procurement act, the date of the issues of tender, the names of the companies to whom the tender was awarded and the accepted tender price.

The Health Minister stated that the construction of the hospital and health center was undertaken as a project approved by the government and  funded under the Citizenship By Investment Program (CBIP).

“The company to whom the contract was awarded is Montreal Management  Consultant Establishment . This company  has delivered previous projects of high quality and  within satisfactory time frames,” Dr. McIntyre responded.

He added, “Agreements for approved development authorizes the project developers or developer to procure such goods and services detailed in its approved project development proposal and budget which would allow it to deliver both the Marigot  hospital project  and the health centers within the stated time period.”

As it relates to the funding of these projects, McIntyre disclosed that MMCE  is utilizing financing secured from its own sources  and  government has agreed  to recompense MMCE for construction of the said facilities by providing to them allocations under the Citizenship by Investment Program from which the  company will be permitted to recoup and raise the financing  required to construct those facilities.

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36 Comments

  1. Just asking
    October 30, 2020

    Well if the CBI generates over $1 billion why do you continue to take loans from the world bank? I don’t get it.

    • Fly lady
      November 1, 2020

      The world bank is just that, a bank. They sell you loans to keep you indebted, sometimes whether you need it or not. Just ask Surinam that once had a surplus on their books.

  2. Just asking
    October 30, 2020

    CBI generates over $1 billion and yet you are still taking LOANS from world bank. Loans? What for?
    That tells me you are unable to manage money. Case in point: you are giving $2 million to a pal rep to make a concrete colvert (not a real bridge) in the shortest ravine span I ever seen, in Grandbay?
    Am I missing something here, can anyone enlighten us?

  3. our Sisserou laying Eggs
    October 29, 2020

    1 billion dollars in 3 years is not too bad for Dominica. now not including the other years where passports were sold (dca has been selling passports for 30 years now), this begs me to question the government, where did all of the money go to? please do not say that it was used in recovery projects after Hurricane Maria. because we all know that the international community gave more than enough money and stuff to rebuild a new dca. so much that there was food spoiling in containers on the ports (and that’s a fact). So again, i’m pressed to ask, where is the money?

  4. Ibo France
    October 29, 2020

    I accept your explanation. Thank you for responding.

    I will still maintain though that you should do much more than just reporting stories but you do so in a responsible, impartial manner. It does not have to be political. What about our generally attitude for the environment?

    In my honest opinion, DNO, you are walking on eggshells trying not to offend the powers that be. Do an article once per week entitled “From the Desk of the Editor”.

    ADMIN: We extend a similar offer to you. You can get space every week for a commentary on any issue you would like to see addressed.

    You can even bring in people to collaborate with you and be as complimentary or critical as you like of any organization or individual.

    We will publish as long as your submissions meet our stated guidelines. This offer is actually open to everyone and in effect always has been.

  5. Ibo France
    October 29, 2020

    @ds

    Skerrit is the one who is giving me fodder to write about. When he is transparent with the CBI finances and the taxes his administration collects on be half of the people I will stop. When he starts giving the people their fair share of the country’s resources and stop hogging most for himself and his songbirds I will have very little to complain about.

    It’s obvious and pathetic, ds, that your loyalty is for the rogue (Roosevelt) and not for the land of your birth. Ponder on these things before you launch your wrongfully directed salvos at well intentioned patriots.

  6. Bring back the kidnapped parrots
    October 29, 2020

    Where is the money? And what is the character of those persons given citizenship and was a complete background check done on said persons? Was this just all about getting money without any regard for the character of personal travelling all over the world on Dominican passports representing the country. In the past criminals have been granted Dominican citizenship for the right amount of CASH that is not accounted for.

  7. Ibo France
    October 29, 2020

    DNO why did you edit one of my comments? I would HONESTLY like to know. Give an explanation justifying your heavy handedness. . I try not to post anything libelous but I deserve the right to state exactly what I think within the confines of the law. That is my inalienable right.

    DNO you will serve the country much better if you critique the many misleading and abusive statements and deleterious actions of the Evil One. Why don’t you enlighten the country as to the state of the country’s finances by presenting an investigative report? Stop hiding behind the frivolous excuse about you don’t have enough time. That is nothing but cowardice.

    ADMIN: The comment you are referring to stated that whenever a certain individual was near money those funds disappeared, that statement implies the person stole the money or is the cause of that money disappearing and therefore could be challenged as libelous.

    We could either remove the line or delete the entire comment, we removed the line.

    On your second point, that is your opinion. We are doing the best we can with what we have.

  8. Not A Herd Follower
    October 29, 2020

    The income from the CBI programme over the past three fiscal years has to be AT LEAST $1.2 billion since we do not know that the numbers provided by the Prime Minister includes all CBI passport options. He was asked to give the breakdown by options but, as is so typical of his stubborn and arrogant self, he did not. How much was controlled by Montreal Management in the past three years?

  9. Madson
    October 29, 2020

    you’re making no point here . Log Off!

  10. Malick
    October 29, 2020

    I assume the monetary amount stated is US$ and not EC$.

    Is this a accurate assumption on my part?

    ADMIN: The figures given are in EC.

  11. Original
    October 29, 2020

    how is it that MMCE is allowed to be the developer over Government projects? does government not have a project management unit? why is this unnecessary cost which most likely is totaling millions of EC dollars, dollars which could be spent in advancing the peoples of Dominica, given to a foreign firm at that, to oversee state resources, a responsibility which is that of the Government of the Commonwealth of Dominica. now the PM is begging the IMF for further assistance (https://dominicanewsonline.com/news/homepage/news/skerrit-urges-imf-to-provide-grant-and-concessional-financing-for-sids/), when he is throwing millions at MMCE, why is this being allowed? this is poor management without a question.

  12. kubulol
    October 29, 2020

    The question is :
    How much of this amount is coming from money laundering ?
    or
    belonging to people most wanted worlwide and seeking for a citizenship in a country where nobody will bother them ?

  13. Youth Anonymous
    October 29, 2020

    Redirecting focus is not addressing a concern or matter. Maybe you are constructing a hospital in Margot and sure the people of Marriott is probably happy feeling like ‘something’ is being done for them. But my thing is if u claim to have made so much money from that one program plus other sources of revenue received in those same years for other reason like global economical relief from supporting and sponsoring countries institutions and banks why didnt any dominican student who got accepted into Monroe College (specifically) never received their sponsorship letters. What is the so much that is going on in the country that in mix of being gifted, granted and loaned funds somehow something as VITAL as the youth is not being pushed and developed. Multiple outstanding fees for preexisting students causing a ban on New Dominican students coming in on Grant’s and scholarships. Everytime we ask for direct answers it always gets avoided or redirected. LETS TALK ABOUT IT!

  14. dissident
    October 28, 2020

    boy dat is lie!!

    Lennox have all you tying some big knot in all you mouth!
    shameful and disgraceful!!

  15. Poli Sye
    October 28, 2020

    I really do not understand why the number of passports sold is not available for public information. Only in Dominica.

  16. SMH
    October 28, 2020

    It is a minimum of $100,000 US for a passport and $200,000 US for real estate investment.
    It goes higher. See here

    https://cbiu.gov.dm/investment-options/

    And see the condition of the country. SMH

  17. Linclown
    October 28, 2020

    If these UWP overeducated fools could read.They would know what is happening in Dominica.It is good that the majority,who are LABOURITES ,can read and understand.That is why UWP will never win election too many uneducated followers.

    • nowadays
      October 29, 2020

      Linclown, Dominica voted for a clown and they got an entire circus. Perhaps YOU are that clown Dominicans voted for? Judging by your appalling English you might be that double doctor?

  18. OpenMind
    October 28, 2020

    I can already guess Linton question for this same time next year and year after. Its the same subject matter year after year.
    Has nothing to say about Covid-19. Nothing to say about reconstruction. Nothing to say on housing, education or development. Just ask about CBI every year.
    And Dominicans so stupid, they don’t follow ongoings themselves, instead rely on articles to then make comments.

    As opposition leader, LL does not need to wait for the opening of Parliament to ask questions on CBI, or Agriculture. Its lazy politics and bad leadership.

  19. Ibo France
    October 28, 2020

    Roosevelt Skerrit is cognitively incapable and too attitudinally immoral to manage a country. The man would not even be a successful proprietor of a rural bar shop.

    …………………………………………………………… The man is incredibly secretive and cavalier with money that is collected on behalf of the people.

    If these revelations do nothing to stir public outrage then nothing much will. When the masses remain indifferent to blatant corruption and wrongdoings by a government then they deserve the government that they have.

  20. Hon. Hyenas
    October 28, 2020

    Is best we had kept the banana industry wii because if we made half that amount from bananas we know 70% of us would eat bread, buy our vehicle, own our house and give our children an education and no politician would hold our daughters as sex slaves when they go to university. But Skerrit said he made over $1.2 billion dollars on passport and we only see 10% in circulation. So who has the other 90%? Well the Al Jazeera report told us those hyenas take 90% and give us 10% and none of those hyenas disputed that

  21. October 28, 2020

    @ Ibo France and Frank Stein, don’t you all have anything better to say but criticize the PM for everything he does for the betterment of its people and country. What have you both contributed to Dominica and your respective village? Nothing. You all and Emmanuel Finn are full of it. People should pay you all no mind. Bums.

    • Frank N Stein
      October 29, 2020

      But people ARE paying us mind. They are listening and that is why you mad. Disappearing all our money is called betterment? You are too funny :mrgreen: :mrgreen: I suggest you go sit in a corner somewhere and keep reading our enlightenment.

  22. BobE
    October 28, 2020

    Why are some people stupid. Where do you think the money come from to ease the burden from Maria and Covid when the government wasn’t collecting taxes. How do you think the thousands of homes were repaired and people fed after Maria. Smy

    • OpenMind
      October 28, 2020

      They not interested in that. Always a complaint to be made.

    • LANGSAL
      October 28, 2020

      From donors…..do you think it came from cbi alone

    • RoRo
      October 29, 2020

      This is yet another wishy-washy statement from Skerrit. Have the CBI accounts been audited by independent auditors? In particular the MMCE accounts and the agreements between them and the government require close scrutiny because I believe that is the weakest link where our money disappears. Construct an apartment at the cost of $150,000, tell Parliament the flat cost $450,000 and bingo here you have a grey area. I firmly believe that the missing CBI evaporated like that. Lennox needs to pick up this trail!

  23. click here
    October 28, 2020

    Only? What i want to know is the cost of EACH cash option. How much does the MMC option cost? Government Cash option? and Real Estate option? what is the minimum amount that 1 person or entity can invest for each option under the CBI. I calculated a total of 2021 passports under the government cash option alone for the three years. Now i estimated an arbitrary minimum of only US$10,000(EC$26,700)/ passport (most likely it is more for a passport under this option). So 2021 passports x EC$26,700 =EC$54,908,549.00 (arbitrary minimum figure)

    This is just one cash option. We have seen in the last year or 2 that the MMC option has drastically overtaken the government cash option. We need to know the cost of each of these cash options options. we need to know how much is really missing, if at all.

    https://cbiu.gov.dm/investment-options/ Dominicans please do your math. Please note that each child/dependant other than the spouse is US$25,000 each

  24. Jonathan Y St Jean
    October 28, 2020

    He lie. It was revealed that $1.2 billion was not accounted for by the Honourable Linton, leader of the opposition. First Skerritt denied it, and his surrogates like Sam Raphael, who thought we are all fools, made an a.. of himself, tying himself in knots and had to agree that the $1.2 billion dollars was missing. How can Skerritt and his whole ministry of finance make such a major and glaring error. I won’t accept Skerritt’s fuzzy maths until he presents all the evidence and people other than his incompetent ministry of finance have had a chance to analyze the numbers and have pertinent questions answered. I say he’s lying.

  25. Ibo France
    October 28, 2020

    I would like to publicly commend Mr. Linton for unearthing the myriad of scandalous infractions connected with the Skerrit’s discreditable regime. These scandals and wrongdoings have only serve to retard the progress of the country.

    The regular media should do some serious introspection and not leave all this heavy lifting on the shoulders of Mr. Linton. Any good that comes from these revelations would benefit the entire country and not just one individual.

    Most of the media outlets in Dominica have been bought by the regime or are too afraid to speak truth to power. Only the unvarnished truth the people yearn for. Kudos to the one or two media entities and individuals that are courageous enough to grow a spine and speak out despite the vicious abuse and allegations directed at them. History will absolve you for sure.

  26. Ibo France
    October 28, 2020

    These revelations are deeply disturbing and show a callous indifference and disregard for the proper accounting and use of the people’s money.

    The no bid procurement practices are how unscrupulous, corrupt politicians use their position in government to filthily enrich themselves.

    With the revelation of this information in parliament , all right thinking Dominicans should be using their feet and voices to demand the immediate resignation of all the members of the present incumbent administration.

    I don’t blame the Skerrit’s regime alone for the country’s present financial predicament. The regular media, the business sector, the clergy, the law fraternity and the ordinary citizens and those with influence should be severely castigated for their tacit complicity by remaining deafeningly silent while this initial tiny laceration has now become a cancerous ulcer.

    In no other country this scale of corruption would be tolerated. Dominica is truly a unique place.

  27. My name
    October 28, 2020

    what?
    So why Dominica in the dumps like this?
    Not even a little stimulus for persons.
    Way way way. I hope all the young persons are taking this seriously. Your future.
    Stand up DA

  28. Rickmartins
    October 28, 2020

    Madness!!! When will all these guys finally get arrested ????….deceit, fraud and greed!!!

  29. Concerned
    October 28, 2020

    That would be around $16,000 for every single citizen. Anybody see where it’s helped them?

    • Frank N Stein
      October 28, 2020

      Airport money gone poof!

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