Dominica Citizenship by Investment
Overview
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 in 1993, 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.
- Right to live, work and study in Dominica and any of the CARICOM member countries.
- Confidential (Dominica does not notify your home country).
- Passed to future generations.
- Remote application and no residency requirements.
- Dominica offers one of the best US offshore universities, St George´s University.
- The country has double taxation treaties and minimal taxes, with no levies on foreign wealth, inheritance or income.
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:
First investment option:
The applicant must make a non-refundable grant to the EDF (Economic Diversification Fund) of US$200,000 for an individual applicant. If the principal applicant includes up to three dependents, the amount is US$250,000. For each additional dependent, US$25,000 is added if under eighteen years of age and US$40,000 if eighteen years of age or older.
The EDF is a government fund that focuses on the advancement of socio-economic projects including education, healthcare, sport, information technology, and tourism.
Second investment option:
Applicants can opt for an investment of USD $200,000 in government approved real estate projects and hold the property for 3 years. After a specified period of time, investors may choose to sell the investment without affecting their citizenship status. However, if applicants wish to resell their real estate investment to another applicant pursuing citizenship, they must instead hold the investment for 5 years.
Some cost and fees for Dominica citizenship
Applicants are required to pay other associated fees such as:
Due diligence fee:
- Main applicant: USD$ 7,500.
- Dependent over 16 years of age: USD$ 4,000.
You will also need an application and processing fee: USD$ 1,000 per application.
Naturalization certificate fee: USD$ 500 per person.
On the other hand, if proceeding with the real estate investment option, applicants are required to pay government fees:
- Individual applicant: USD $75,000.
- Family up to 4 members: USD $100,000.
- Per additional dependent under 18 years of age: USD $25,000.
- Per additional dependent over 18 years of age: USD $40,000.
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