Speaking to the press together with Dominica’s Prime Minister Roosevelt Skerrit yesterday, Chairman of the Caribbean Development Bank, Dr. Warren Smith, affirmed his support for citizenship by investment programs as an appropriate and effective means of attracting investment to the Caribbean.
“I think if you look at St. Kitts and Nevis, if you look at Antigua, right here in Dominica you will see that the Citizenship by Investment Program can generate a lot of cash…so we’re happy for the countries that are having success in the Citizenship by Investment Program,” said Smith, according to Dominica Vibes.
While recognizing CBI’s significant monetary contribution to Caribbean economies, the Chairman stressed the need for prudence in the due diligence process.
“Some of the most respectable countries in the world, the United States, Canada, United Kingdom have Citizenship by Investment Programs in one shape or form. There is nothing wrong with it. What I have indicated in the past is that for small countries there is more risk involved because the world we live in today is one with criminal elements operating through the financial systems that we have.”
Image via: Dominica Vibes
