Dominica, the Caribbean Island country, is emerging as the most popular destination for investors and high-net-worth individuals looking to obtain citizenship by investment and benefit from economic stability, safety, proximity to main global markets, and unmatched business opportunities.
Dominica Passport Ranking
The Dominican passport is currently ranked 35th among global passports, providing visa-free access to 145 countries. This ranking is based on the number of countries that allow Dominica passport holders, to enter without a visa or by obtaining a visa upon arrival and reflects the passport’s high overall mobility score. Dominican passport holders can enter countries such as Singapore, the United Kingdom, Russia, and the entire European Union without a visa, and this allows instant access to world-class destinations.
Dominica Citizenship by Investment
Dominica’s citizenship through an investment program is protected by law, and because local law does not prohibit dual nationality, obtaining it remains a confidential process that does not require a person to renounce his existing citizenship. Additionally, Dominica’s citizenship by investment program neither requires specific business experience, education, or language, nor a mandatory interview. It can be provided within 4 to 5 months.
-
How to Get Dominica Citizenship by Investment
The first step towards obtaining a Dominica passport is contacting an Authorized Agent of the Caribbean economic citizenship program because only authorized agents can present new citizenship applications to the Dominica Citizenship by Investment Unit (CBIU).
The authorized agent should perform some basic due diligence on the potential applicants to ensure they are a safe addition to the country and have no criminal history. If there are no issues, the investor can retain the services of the agent who will then prepare and submit a citizenship of Dominica by investment application on their behalf. The authorized agent will also handle all auxiliary documentation preparation and validation and can even arrange the professional translation of foreign language documents into English.
To qualify for citizenship and gain a Dominica passport by investment, investors must contribute either to a non-refundable contribution to the Economic Diversification Fund or purchase real estate in a government-approved project in addition to payment of applicable government fees.
Economic Citizenship Dominica Application Process
To start the process of obtaining Dominican citizenship through investment, an investor must sign a retainer agreement with an authorized representative, to ensure the confidentiality of private documents and information. The agent\’s professional service fees, as well as government due diligence, registration, and application fees, are due at this time. The Authorized Agent\’s professional fees vary depending on the complexity of the file. Family applications cost more than single applications. Candidates applying for Dominica economic citizenship through the real estate option must pay additional government application fees, while those who donate to the Economic Diversification Fund do not have to pay such fees.
Dominica’s citizenship by investment program is considered one of the least expensive and most affordable investment programs in the Caribbean. Investors can acquire citizenship by contributing $100,000 to the state fund, or by purchasing an apartment for at least $200,000 in an approved real estate project. Contributions to the Economic Diversification Fund are not refundable, but the real estate investment option allows investors to recoup the investment within three years by selling the property. Main applicants are also required to pay a due diligence fee of $7,500, as well as an additional $4,000 for the spouse, and $4,000 for dependents over 16 years.
Benefits of Second Citizenship in Dominica
Dominica’s passport provides holders with a lot of benefits. It allows visa-free travel to 142 countries, comprising Europe’s Schengen Area, the UK, Singapore, Hong Kong, the Russian Federation, and lately, China. It also allows businessmen to cross borders without the hassle of going through bureaucratic motions, wasting time in filling out forms and visiting embassies, as well as consuming money.
The paradise island with its white sandy shores, macroeconomic stability, world-class health care, high level of medical institutions, burgeoning education system, as well as numerous entertainment activities, offer rich and fertile land for families to live, work, and savor life.
Dominica’s passport allows business owners to benefit from a favorable tax regime, as there is neither wealth, capital gains, estate, death, or inheritance tax on its inhabitants or residents, nor global income tax for non-residents. Investors can also avail the of registered and regulated offshore banks, which are more private and flexible than traditional banks.
Dominica passport holders can get a 10-year B-1/B-2 visa to the United States, which allows investors to stay in the country for up to 180 days a year to attend business meetings and conferences, travel, and get medical treatment.
-
Dominica Passport Price Increase
The financial requirements for obtaining a Dominica passport through investment are considered low when compared to other Caribbean citizenship programs. However, the cost of becoming a Dominican citizen through government donation was set to rise significantly on August 1, 2016, but the rise has been put on hold. Prices for single applicants were initially scheduled to rise to $175,000 ($75,000 increase at the time), for main applicant and spouse to $225,000 ($50,000 increase at the time). For a main applicant, spouse, and up to 2 children under 18 years of age, the price was set to increase to $250,000 ($50,000 increase at the time), and for additional dependents, it was set to remain at $50,000 each.
If these changes are implemented, the new cost of Dominica citizenship when making a monetary contribution to the Economic Diversification Fund will be $200,000 for a family and $175,000 for a husband and wife. Although not planned, prices for Dominica citizenship through real estate investment may rise.
-
What is the Total Cost of Citizenship in Dominica for an Individual?
For a single applicant, the minimum cost of Dominica’s citizenship through the government donation option is $108,810. This includes the $100,000 monetary contribution to Economic Diversification Fund, $7,500 due diligence fee, $1,000 processing fee, $250 naturalization fee, and $60 – passport fee. While the minimum cost of having Dominica’s passport by acquiring real estate is at least $233,810. This comprises a $200,000 real estate investment (recoverable), along with a $25,000 additional government fee, a $7,500 due diligence fee, a $1,000 processing fee, a $250 naturalization fee, and a $60 – passport fee.
Common Question about Dominica Passport:
Investors looking to obtain second citizenship may have several concerns and would raise several questions before taking any investment risk.
-
Is Dominica a strong passport?
Dominica’s passport is ranked in 34th place, which allows holders to travel freely to 145 countries and territories around the world. The passports are valid for 10 years and can be renewed indefinitely because citizenship in the country is never revoked under any circumstances. Even if the Caribbean economic citizenship program is eventually phased out, anyone granted citizenship under the scheme will keep their second nationality and passport. Dominica’s passport that has expired can be easily renewed for a small fee at any Dominica consulate, embassy, high commission office, or at the Dominica passport office in Roseau, the nation\’s capital.
-
Can I go to Canada with Dominica passport?
Having Dominica’s citizenship can also make it easier to obtain a business visa or a residence permit in many other Commonwealth countries like Canada or Australia.
-
Can I live in UK with Dominica passport?
A Dominica citizen can visit the UK without a visa for up to 6 months but cannot live in the UK, because there is no work or living rights without a proper visa. Dominica citizens can stay in the UK for up to 180 days in a row and enjoy benefits when enrolling in UK colleges and universities.
-
Can I live in Europe with Dominica passport?
Dominica passport holders can reside in the European Union for a period of 3 months uninterruptedly in any 6-month period.