Dominica officially the Commonwealth of Dominica, is an Island country in the West Indies. The capital, Roseau, is located on the western side of the island.
Dominica is a mountainous Caribbean island nation with natural hot springs and tropical rainforests. Sitting halfway along the Eastern Caribbean archipelago, Dominica is located just a few miles from Martinique to the south and Guadeloupe to the North. Stretching 751 km² (290 square miles) island boasts 148 km (91 miles) of coastal line. Total population of the country is 73 500 people and the capital is Roseau. Official language is English. When it comes to economy Dominica’s main exports are agricultural, another important economy driver of this country is tourism.
Dominica is known as the ‘Nature Island of the Caribbean’ due to its wide variety of flora and fauna and extensive natural park system, boasting a remarkably unspoiled natural beauty. Dominica is home to the world’s second-largest thermally active lake.
Citizenship by investment program and prices (donation of $100 000 USD or real estate purchase of $200 000 USD)
Introduced in 1993. by the Government of the Commonwealth of Dominica, our Citizenship by Investment program is one of the longest-running economic citizenship programs in the world. Throughout more than 20 years, the government of Dominica has remained firmly committed to this program and has made consistent and substantive improvements to the quality of its offering.
Dominica has become one of the most affordable and flexible second passport programs available.
To be eligible for citizenship of the Commonwealth of Dominica under its Citizenship by Investment programs, you must make a contribution to the Economic Diversification Fund (EDF) of minimum $100 000 USD per single applicant OR purchase government approved real estate for at least $200 000 USD.
If you decide to donate money to the government fund (EDF) basic investment is $100 000 USD as stated earlier, if you apply with your spouse price goes up to $175 000 USD. If the main applicant has up to three dependents donation must be $200 000 USD. For each additional dependent, you will need to donate another $25 000 USD. This makes it an amazing deal for families. However, on top of this, you will need to pay due diligence fees. They include $7500 for the main applicant, $4000 for the spouse and $4000 for each dependent that is 16 years old and above.
If you think that donation is not the right fit for you and you’d rather purchase real estate here are prices.
As we said the minimal prices of property purchased needs to be at least $ 200 000 USD, however, that’s not all. As a single applicant you must pay additional government fees of $25 000 USD, if you apply with your spouse it’s $35 000 USD, the same price if you apply with your spouse and up to two children ($35 000 for the whole family). Government fees will be $50 000 for a family of up to 6 people and $70 000 fora family of 7 and more people. In addition to these fees, there are due diligence fees on top of this, prices of these fees are the same as we stated in the previous case.
In order to keep your citizenship, you must hold real estate for 3 years from the grant of citizenship. Furthermore, you may only resell that real estate after 5 years of receiving citizenship.
Benefits of obtaining citizenship by investment in Dominica
Dominican passport will grant you visa free access to 122 countries and territories, including Singapore, Hong Kong, EU countries and the United Kingdom. As Dominica allows dual citizenship you will be able to keep your original one.
This process is very fast, usually taking about only three months.
Taxation in this country is very favorable since there is no wealth, gift, inheritance, foreign income, or capital gains tax.
Also, there are no requirements to reside in Dominica before or after citizenship is granted.
New children of successful Dominica Citizenship Program participants are eligible to also become Dominica citizens, with no additional investment required. There is a 2 000$ government processing fee to add a newborn as a citizen of the country, however, the child must be under the age of five.
All these benefits plus very appealing prices make Dominican citizenship by investment program very interesting to many business people from all over the world.
|Dual citizenship allowed||YES|
|Investment required||100 000 USD in donation OR purchase at least 200 000 USD worth of property|
|Time||Approximately 3 months|
|Family members||YES with additional cost|
|Visa free access||122 countries and territories|
|Who doesn’t qualify||/|