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Following his participation in the Caribbean Investment Summit (CIS) held in Antigua & Barbuda last week, Prime Minister Roosevelt Skerrit said he had discussions with various leaders there and reaffirmed a shared commitment to enhancing operations across the region, particularly in the areas of due diligence and vetting an independent regulation.<\/p>\n
The CIS is the region\u2019s premier forum on investment migration, convening political leaders, executives from Citizenship by Investment (CBI) jurisdictions, marketing agents, service providers, industry leaders, and other stakeholders. It serves as a platform for collaboration, knowledge exchange, and strategic partnerships aimed at advancing the CBI industry.<\/p>\n
\u201cWe acknowledge that while the regulatory landscape continues to evolve, we too must adapt,\u201d Skerrit said while addressing a press conference held this week.<\/p>\n
He continued, \u201cWe must continue to be proactive and transparent, upholding global standards to preserve the reputation of our nations as trustworthy partners in the global investment community.\u201d<\/p>\n
He said that there were also discussions on the growing need to harmonize policies to prevent under-cutting and fragmentation within the region.<\/p>\n
Following an agreement signed by the leaders, an interim regulatory mission was appointed. That commission has been tasked with the drafting of the harmonized bills to make more effective, the Independent Regulatory Commission, among other aspects.<\/p>\n
\u201cSo that bill will be ready, I have been told, in the month of May, with the intention of going to Parliament before the end of 2025. All of us together, in our respective countries, going to our parliaments and to pass legislation,\u201d Prime Minister Skerrit revealed.<\/p>\n
He added, \u201cSo work is ongoing. We also had very constructive engagement with representatives of the EU, the US Government, and the US Embassy and also the UK.\u201d<\/p>\n
Meanwhile, the \u00a0Prime Minister said the first draft of the legislation will be made available in May 2025.<\/p>\n
Skerrit pointed out that the leaders of countries who have established Citizenship By Investment programs understand the importance of safeguarding the integrity of these initiatives.<\/p>\n
\u201cThey have been instrumental in shaping the economic resilience and must be protected through collected will for all involved,\u201d he noted. \u201cThis is why I sounded a call for members of the private sector, agents, developers, and other stakeholders to speak up in defense and indeed promotion of our programs which has and continues to underpin economic activity in all of our countries.\u201d<\/p>\n
He reiterated that Dominica remains fully committed to the highest standard of integrity in its CBI Program.<\/p>\n
\u201cWe continue to strengthen our [already] rigorous due diligence processes and make the necessary changes to ensure the program operates at the highest standards of integrity,\u201d Skerrit asserted. \u201cWe have also taken immense pride in channeling the CBI resources into transformative national projects here in Dominica.\u201d<\/p>\n
Skerrit emphasized that his government will continue to administer the program in the best interest of its citizens.<\/p>\n
This year\u2019s Summit was held under the theme\u00a0\u201c<\/strong>Integrity, Stability, Sustainability: CBI Pathway to Economic Prosperity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Following his participation in the Caribbean Investment Summit (CIS) held in Antigua & Barbuda last week, Prime Minister Roosevelt Skerrit said he had discussions with various leaders there and reaffirmed a shared commitment to enhancing operations across the region, particularly…","protected":false},"author":13,"featured_media":340973,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[235,9,12,14],"tags":[],"class_list":["post-340972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage-carousel","category-news","category-politics","category-regional"],"acf":[],"yoast_head":"\n