The Dominica Citizenship by Investment Program was established back in 1993. It is one of the longest-running and most reliable citizenship by investment schemes whereby you get a second passport in return for your donation to a government fund or purchase of real estate. Bear in mind that an investment in properties is both a lawful way of getting a second citizenship and a profitable way of investing money.
Dominica stands out among other Caribbean islands with its unique nature, austere volcanic peaks, forests full of exotic plants and animals, picturesque waterfalls, fresh-water lakes and unusual beaches. The islands attract over 200,000 eco-tourists each year.
$100,000 Minimum investment
3 – 6 months Processing time
refundable & non-refundable Investment options
after 3 years Investments recovered
delivered to you Passport collection
140+ countries Visa-free travel
Dominica government is interested in attracting foreign investors, therefore there are minimum application requirements:
Besides, you can apply for a Dominica passport for a baby that was born after you obtained your citizenship.
*Children aged over 18, as well as parents and siblings, must be financially dependent on the main applicant.
Important!
Dominica does not accept citizenship applications from residents of Iran, North Korea, Sudan and Syria. However, if a national of these countries have not lived there for the last 10 years, does not have significant assets and does not do any business there, an exception may apply.
One of the biggest advantages of Caribbean passport schemes is a choice of investment options. Dominica offers two.
Investment amount – from $100,000
As you can guess from the heading above, this is a donation which cannot be recovered once you get your passport. By making it, you are contributing to the construction of schools, hospitals, transport infrastructure, as well as local tourism industry and agriculture.
A single applicant must be prepared to invest at least $100,000, excluding due diligence, passport and other fees.
Dependants come at an additional cost. Have a look at three calculations: for one applicant, for a couple and for a family.
*A family includes two adults and two minor children under 16. If you want to add an additional adult dependant, the donation will be $25,000 per person or if it is your or your spouse’s brother/sister aged 18 to 25, they will cost you another $50,000 each plus additional due diligence fee of $4,000 for each dependant over 16.
Investment amount – from $200,000
You can contribute to the island economy by buying a share in a hotel under construction, a spa facility or a villa – one of the government approved projects. On the one hand, the state involvement significantly reduces a choice, but, on the other hand, it minimises risks by eliminating unscrupulous developers and fraudulent schemes.
The minimum purchase amount of $200,000 does not increase if you want to add dependants to your citizenship application. Unlike a one-off donation, you can return most or all of your money after 3 years. However, there is an additional government fee to pay.
You can make up for a part of the purchase costs if you decide to rent your property out. Dominica is popular for eco-tourism, so you can even gain on your investment if you sell after the required 3 years after you receive Dominica citizenship.
If for any reason you do not want to invest in a share in a hotel or an off-plan resort scheme, you can co-invest in a villa. Please bear in mind that in this case each investor must contribute at least $200,000.
*Family includes two adults and two minor children under 16. If you want to add an adult dependant, the government fee will be $25,000 per person or if it is your or your spouse’s brother/sister aged 18 to 25, they will cost you another $50,000 each and additional due diligence fee of $4,000 for each dependant over 16.
Caribbean passport is not a popular relocation tool; it is more of a solution to a visa-free travel around the world. You would need a reliable property management company to take care of your real estate in a most efficient manner. Imperial & Legal team will be happy to assist you in this matter.
Standard processing time is 3 to 4 months. However, it can take longer depending on your circumstances.
With a Dominica passport, you can cross borders of over 140 countries around the world, including the UK, EU states, South Korea and Singapore. They also include 12 states that have a simplified visa procedure with Dominica when a visa is issued in the airport on arrival.
Tax residents of Dominica do not pay income tax and have no wealth, gift, inheritance, foreign income or capital gains taxes. The government has also signed double taxation agreements with many countries worldwide.
Dominica-registered companies trading abroad do not pay tax on foreign profit. The government also offers significant tax and export incentives to support businesses.
Dominica businessmen have a duty-free access to several Caribbean markets. There are no restrictions on the repatriation of profits and imported capital.
Dominica remains an island of stability while this cannot be said about some other Caribbean states. It boasts a laid-back atmosphere that at the same time is conducive to business activities. Local currency, the Eastern Caribbean dollar, is pegged to the US dollar.
This tiny island state can become both your second home and plan “B” in case the worst comes to the worst in your home country.
If you decide to settle here, it will all be yours to enjoy – pristine nature that is so different from popular tropical resorts. Dominica’s rugged volcanic peaks organically co-exist with lush forests, fresh-water lakes, scenic waterfalls, fast rivers and outstanding coastline – it is a paradise for outdoor lovers and divers.
If you wish to enjoy all benefits that Dominica offers to its citizens, get in touch with our experts at Imperial & Legal. Our qualified advisers will help you and your family to obtain Dominica citizenship by investment in no time and at a minimum cost.
First of all, it is common to invest in citizenship of this Caribbean country to be able to travel around the world without wasting time and money on visa applications.
As of early 2021, Dominica passport allowed for a visa-free or a visa-on-arrival access to 143 countries. It includes all EU states, the UK and Singapore. You can stay in Europe for up to 90 days in a row and up to 180 days in the United Kingdom.
As Dominica is part of Commonwealth, by acquiring this second nationality you get opportunities to study in the UK on more favourable terms and use it as a first step to British citizenship.
It is for those who would like a slow-paced, steady lifestyle on a tropical volcanic island far from the hustle and bustle of busy financial hubs.
Dominica is a popular destination among eco-tourists as it offers a huge variety of Caribbean flora and fauna, tropical rainforests, austere volcanic landscapes, geysers, hot springs and stunning black and yellow sand beaches.
Besides, it is a good jurisdiction to register an offshore company. Permanent residents would be able to enjoy all the perks of its flexible taxation system.
However, in a majority of cases, investing in a Dominica passport is a simple and relatively cheap way of travelling freely around the world.
A one-off contribution to the Economic Diversification Fund is often called the most efficient solution as it only requires $100,000. Add $9,500 to that to cover additional fees and charges.
Yet, we suggest that you should choose this option if you do not have a lot of money or you need a second passport as soon as possible. It is also a great investment for those who prefer simple solutions – pay the money, get your passport and forget about it until it is time to extend it.
However, if you have enough funds, have a look at both investment options paying special attention to the amount that you won’t be able to get back.
Comparison of 2 investment options for a single applicant under Dominica citizenship scheme
Type of payment
Investment
Due diligence fee
Processing fee
Government fee
Passport fee
Naturalisation certificate
Total:
You can see that you can get most of your money back after 3 years if you invest in real estate, therefore purchasing a share in a hotel or a villa would be a good option provided you have time and money.
The government did their best to minimise risks for foreign investors. You are allowed to invest only in projects from developers that have been approved by the state.
As the whole citizenship application process is done through an agent, experts at Imperial & Legal will offer their advice as to which projects could be of interest to you, will help you insure your purchase and find a reliable property management company to make sure you get a monthly rental income.
We will help you make an investment of your choice and submit applications for the whole family. Get in touch today to discuss your requirements.
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