Thursday, November 14, 2024

CBI brings 52% of revenues for Dominica

The Ministry of Finance of Dominica has published estimates of revenues report for the year 2018/19.  The report estimates 406 million ECD revenues estimated for the year 2018/19 driving more than half  (52%) of the revenues of Dominica .

 

The CBI program established in 1993 is the biggest revenue generator for Dominica after the country has suffered a catastrophic hurricane damage in 2017. The Citizenship by Investment (CBI) scheme is one of the biggest, largest and well run scheme in the Caribbean.  There are nearly 800 people acquiring Dominica citizenship every month.

 

Dominica CBI income
Source: Ministry of Finance

 

Dominica received a record revenues for the  year 2016/17 according to the actual estimates of the report. The financial report projects decline in CBI revenues from 2017 onwards and estimates to pick up in later years.

 

CBI Revenues

 

 Non-Tax Revenue from CBI  ECD (millions)
2016-2017 (actual) 491.1
2017-2018 (estimate) 399.9
2017-2018 (projected) 315.4
2018-2019 (estimate) 406.6
2019 – 2020 (estimate) 477.5
2020-2021 (estimate) 339

 

Breakdown of CBI revenues

 

The breakdown of the CBI revenues under the recurrent budget for the fiscal year ending 30th June 2019.

 

Dominica CBI revenues
Estimated and Project figures of revenues for Dominica CBI program – Source: Ministry of Finance

 

Passport sales fee

 

Dominica also receives increased passport issue sales revenue averaging ECD 2.5m

 

Dominica passport sales
Revenues from passport sales – Source: Ministry of Finance

 

16501 Citizenship by Investment Program
16503  CBI – Agency Fees
16504  CBI – Economic Diversification Fund
16505  CBI – Application Fee
16506  CBI – Due Diligence Fees
16507  CBI – Certificate of Naturalization

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

Related Articles

Stay Connected

279FansLike
3,983FollowersFollow
732FollowersFollow
- Advertisement -spot_img

Latest Articles