{"id":317198,"date":"2024-02-14T16:17:07","date_gmt":"2024-02-14T20:17:07","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=317198"},"modified":"2024-02-14T16:17:07","modified_gmt":"2024-02-14T20:17:07","slug":"pm-says-eu-delegation-really-satisfied-with-investigation-of-cbi-program","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/pm-says-eu-delegation-really-satisfied-with-investigation-of-cbi-program\/","title":{"rendered":"PM says EU delegation &#8216;really satisfied&#8217; with investigation of CBI program"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-317200\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2024\/02\/CBI.webp\" alt=\"\" width=\"474\" height=\"237\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2024\/02\/CBI.webp 474w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2024\/02\/CBI-300x150.webp 300w\" sizes=\"auto, (max-width: 474px) 100vw, 474px\" \/><\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-wznwy-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-wznwy-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-5\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"3ee88094-b8f2-4114-8afb-177bcdd1fea0\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>Prime Minister Roosevelt Skerrit said that a meeting held recently at the Intercontinental Dominica Cabrits Resort with a delegation from the European Union (EU) &#8220;went very well.&#8221;<\/p>\n<p>The meeting was attended by heads of Caribbean Citizenship by Investment Units and attorneys general from countries with CBI programs, namely Dominica, St. Kitts and Nevis, Antigua, Grenada, and Antigua.<\/p>\n<p>The European Union (EU) has reportedly expressed apprehension over Dominica\u2019s low-cost\/high-volume model of its Citizenship by Investment (CBI) program. This is according to a report from the online migration industry newspaper, Investment Migration Insider (IMI), which said EU representatives, including its head of visa policy and its liaison in Barbados, met with representatives of countries in the Caribbean with CBI programs in Dominica last week to discuss concerns about their programs.<\/p>\n<p>&#8220;The Head of the Visa Office of the European Union came to visit us along with other members of his team. That meeting went very well. They went to the CBI Unit, they went to the immigration, they went to the FIU [Financial Intelligence Unit],&#8221; Skerrit said while speaking on Kairi FM&#8217;s Heng Program recently.<\/p>\n<p>He continued, &#8220;They did their own auditing, their own investigations. By and large, they were really satisfied with what we have done and what we are doing.&#8221;<\/p>\n<p>Skerrit described the meeting as very constructive.<\/p>\n<p>&#8220;I think they have a completely different perspective in many respects regarding the CBI Program because they rely on what they hear and what they are told,&#8221; he stated.<\/p>\n<p>Furthermore, Skerrit stated that visiting Dominica themselves in their fact-finding mission and going through the system and questioning various persons who are involved in the processes, &#8220;they said they left Dominica with a better mindset than when they came, and so we are very grateful for that.&#8221;<\/p>\n<p>Skerrit went on to state that the new legislation that was passed is very helpful, and it addressed some of the issues the EU raised in the past, &#8220;we are addressing those things.&#8221;<\/p>\n<p>&#8220;We are strengthening the regulations regarding the marketing and the promotion of Dominica&#8217;s CBI program; we are addressing those,&#8221; he noted. &#8220;We look forward to their recommendations which were submitted to us, and whichever additional action we have to take, we are prepared to take them.&#8221;<\/p>\n<p>In recent times, the EU Commission has been publicly expressing concerns over CBI programs in the Caribbean. A report issued on October 18, 2023, gave for the first time a glimpse of the magnitude of these programs in Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, and Saint Lucia. It said at the time of the report, 88,000 passports have been sold by these five countries with Dominica selling 34,500 which is four times more than what the government of Dominica has publicly reported.<\/p>\n<p>This high rate of the sale of passports which offers visa-free access to member states can, according to the EU, &#8220;result in risks or threats to the public policy or internal security of the Member States, including those related to infiltration of organized crime, money-laundering, tax evasion, and corruption.&#8221;<\/p>\n<p>In October 2023, the European Commission sought to revise regulations surrounding Caribbean CBI programs, as passport holders are granted visa-free access to the EU. The commission aims to simplify the process for the suspension of visa-free travel from countries that offer citizenship to foreigners.<\/p>\n<p>The objective is to prevent misuse of the visa waiver program and address risks posed by individuals who obtained their citizenship through a CBI program.<\/p>\n<p>The EU visa waiver program permits nationals from 60 countries to visit 27 Schengen Zone countries for up to 90 days for tourism and business purposes. The proposals, made in the 6th report under the Visa Suspension Mechanism, suggest expanding the grounds for suspension, including non-EU countries not fully aligned with the EU&#8217;s visa policy and visa-free non-EU countries operating investor citizenship schemes. The proposals also recommend extending the procedure duration to allow more time for remedial actions and strengthening the commission&#8217;s monitoring and reporting obligations to any visa-free countries where challenges are identified.<\/p>\n<p>Despite the concerns by the EU, Saint Kitts and Nevis, Dominica, Saint Lucia, Grenada, and Antigua and Barbuda want their CBI programs to continue because of the massive amount of money it brings into their coffers. A report published by the business newspaper, Bloomberg, on January 11, 2024, stated that sales of passports from these five countries bring in a whopping $579 million a year.<\/p>\n<p>&#8220;Our national economic prosperity hinges on the robustness of our CBI program,&#8221; Terrance Drew, the prime minister of Saint Kitts, said in December. &#8220;This program must be protected at all costs.&#8221;<\/p>\n<p>Prime Minister Skerrit said that citizens of the island have benefited more from CBI compared to any other country in the world.<\/p>\n<p>&#8220;There is no country in the world, and I say so without any fear of contradiction, no country in the world, where the citizens have benefited more from the Citizenship By Investment Program,&#8221; he said. &#8220;There is no country in the world who can show you [more] visible signs of the Citizenship By Investment Program than in Dominica.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Prime Minister Roosevelt Skerrit said that a meeting held recently at the Intercontinental Dominica Cabrits Resort with a delegation from the European Union (EU) &#8220;went very well.&#8221; The meeting was attended by heads of Caribbean Citizenship by Investment Units and&#8230;","protected":false},"author":13,"featured_media":317200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[36,286,235,313,9,14,20],"tags":[],"class_list":["post-317198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-development","category-governance","category-homepage-carousel","category-immigration","category-news","category-regional","category-tourism-publicity"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PM says EU delegation &#039;really satisfied&#039; with investigation of CBI program - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/pm-says-eu-delegation-really-satisfied-with-investigation-of-cbi-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM says EU delegation &#039;really satisfied&#039; 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