A guide to citizenship by Investment in Dominica
Dominica is considered one of the most beautiful islands and has become well known as “the nature isle of the Caribbean.” Dominica offers golden beaches, mountains, waterfalls, hot springs, and tropical rainforests with sunny temperatures year-round. With agriculture and tourism as the main economies, Dominica set out to increase foreign investment through their citizenship by investment program.
Established in1993, Dominica has one of the longest-running programs and has set the standard for other citizenship by investment programs alike. Dominica offers a direct path to citizenship where applicants can proceed with their choice of investment and obtain a passport within 2-3 months.
Advantages of Dominica Citizenship
- Investment is only required after the application approval
- Dual citizenship
- Visa-free travel to over 140 countries including the EU & the UK
- Right to live, work and study in Grenada and any of the CARICOM member countries
- Confidential (Grenada does not notify your home country)
- Passed to future generations
- Remote application and no residency requirements
- Grenada offers one of the best US offshore universities, St George´s University
Requirements
Applicants proceeding with the citizenship by investment program must be at least 18 years of age and hold a clean criminal record. The Citizenship Unit conducts a thorough due diligence process to ensure only the highest moral standing applicants can proceed. Applicants are required to provide personal documentation such as passports, national IDs, birth and marriage certificates, and proof of funds.
Investment Options
Along with the required documentation, applicants have the choice of proceeding with 2 investment options.
The first investment option includes a non-refundable donation to the EDF (Economic Diversification Fund) starting at USD$ 100,000. The amount will increase according to the number of dependents included within the same application. The EDF is a government fund that focuses on the advancement of socio-economic projects including education, healthcare, sport, information technology, and tourism. Investing in government-approved real estate projects in the tourism sector is the second investment option. Investors can opt for an investment of USD$ 200,000 and maintain the investment for 3 years. After a set period of time, investors can choose to sell the investment without affecting their citizenship status however, If applicants wish to resell their real estate investment to another applicant pursuing citizenship, they must instead hold the investment for 5 years.
The Citizenship Unit offers one of the fastest citizenship programs. Once applicants have obtained all required documentation as well as chosen their investment route, they must submit their application through an authorized local agent (as required by law). The typical timeframe is 2-3 months and once the application is approved, applicants can proceed with their chosen investment and acquire their Dominica passport.
Some cost and fees for Dominica Citizenship
Applicants are required to pay other associated fees such as:
Due diligence fee
- Main applicant: USD$ 7,500
- Dependent over 16 years of age: USD$ 5,000
You will also need an application and processing fee:
- USD$ 1,500 per applicant over 18, and USD$ 500 per applicant under 18 years of age
- Passport/Certificate fee: USD$ 250 per person
On the other hand, if proceeding with the real estate investment option, applicants are required to pay property application fees:
- Main applicant: USD$ 25,000
- Family up to 4 members: USD$ 35,000
- Family up to 6 members: USD$ 50,000
- Family up to 7 members: USD$ 70,000
- Siblings under 18: USD$ 25,000
- Siblings age 18-25: USD$ 50,000
Contact Us
Applicants can take advantage of Dominica’s ideal business environment and attractive tax regimes. Dominica does not tax on income, wealth, inheritance, capital gains and does not impose any restrictions on the repatriation of profits.
Ready to obtain your Dominican passport? Contact us at info@kraemerlaw.com