Rayburn Black, Minister for Citizenship of Commonwealth of Dominica, has issued a statement announcing new regulations for the Dominica citizenship by investment program.
The program will see a number of changes to the definitions of dependents and the government fee structure for applications submitted under the investment and contribution options.
On September 15th, the modifications will go into effect for Dominica citizenship. Among their results will be the removal of the option to count siblings as dependents, the imposition of age restrictions on parent and grandparent dependents, and the requirement that adult child dependents be enrolled in higher education (unless they are unmarried daughters).
Based on the announcement, the “dependant” means:
(a) a spouse of the main applicant;
(b) a child under eighteen years of age of the main applicant or the spouse of the main applicant;
(c) a child of the main applicant or the spouse of the main applicant between eighteen and thirty years who is in attendance at a recognized institution of higher learning and substantially supported by the main applicant or the spouse of the main applicant;
(d) an unmarried daughter of the main applicant or the spouse of the main applicant who is under twenty-five years of age and is living with and fully supported by the main applicant or the spouse of the main applicant;
(e) a child of the main applicant or the spouse of the main applicant who is eighteen years of age or older and physically or mentally challenged and who is substantially supported by the main applicant or the spouse of the main applicant;
(f) parents or grandparents of the main applicant or the spouse of the main applicant above the age of sixty-five years who are substantially supported by the main applicant or the spouse of the main applicant”.
Fees changes for Dominica Investment for Dominica citizenship
Investing in pre-approved real estate Dominica
| Main Applicant | $ 25,000 |
| Family of up to 4 persons (including the main applicant and up to 3 dependents) | $ 35,000 |
| Family of up to 6 persons (including the main applicant and up to 5 dependents) | $ 50,000 |
| For any additional qualified dependent | $ 25,000 |
The Economic Diversification Fund (EDF)
| Main Applicant | $ 100,000 |
| Main applicant and spouse | $ 150,000 |
| Main applicant and up to three dependents | $ 175,000 |
| For any additional dependant under the age of eighteen | $ 25,000 |
| For any additional dependant eighteen years of age or older | $ 50,000 |
Despite these modifications banning or limiting the participation of some dependents, the Dominica Citizenship by Investment (CBI) program is still quite competitive. When compared to other schemes, it has lower expenditure requirements and can obtain a trustworthy second passport in four to six months.
Benefits that Dominica citizenship offers -Visa-free travel to more than 140 nations, including the EU member states, the UK, Singapore, China, and Hong Kong, a favorable tax environment (no wealth, gift, inheritance, foreign income, or capital gains taxes), a plethora of business opportunities, and a host of other benefits are all guaranteed with Dominica citizenship. Furthermore, Dominica recognizes dual citizenship, therefore no original passport needs to be renounced and actual presence is not even necessary.
Reference- https://www.cbiu.gov.dm/