Dominica Citizenship by Investment
Dominica citizenship by investment program is an excellent offer for foreign nationals who wish to acquire a second citizenship. In 2022, the country deservedly ranked first in the list of states that offer similar programmes.
Grenada and St Lucia follow it. Dominica holds first place due to the affordable size of the required investment, quality consular support for citizens, and high-security standards. We will discuss the programme and its benefits in more detail further on.
Overview Dominica Citizenship by Investment Programme
Dominica economic citizenship programme offers those wishing to obtain citizenship in a state located on one of the most beautiful islands in the Caribbean. Dominica opened its doors to foreigners 30 years ago and, unlike some European countries, does not intend to close the programme in the foreseeable future.
The amount of investment for which the Commonwealth Government of Dominica can issue a passport to an applicant is only $100,000, which is considerably less than the conditions for citizenship by investment programs in other countries. In addition, it is possible to include close family members in a single application, to complete all documents under an accelerated programme, and to obtain a host of other benefits.
Benefits of Dominica Citizenship by Investment
First place in the CBI programme rankings speaks for itself; Dominica investment citizenship is fast, convenient, and profitable. Becoming a Dominican citizen will allow you to
- Get passport Plan B, a document that acts as a full-fledged alternative to a basic identity document. It allows its holder to ensure the confidentiality of their financial data, travel freely around the world for business and personal purposes, and much more.
- Travel to 153 countries without a visa. Many foreigners apply for citizenship in the Caribbean for this very purpose – to travel freely within the European Union, to visit Hong Kong, Singapore, the UK, etc.
- Live, develop business, study in Caribbean Community countries. However, physical residence in the state is not necessary to obtain citizenship under the Dominica CBI. It is up to each individual to decide whether to move to Dominica or stay in their own country and consider the Caribbean as a backup option.
- Take advantage of preferential taxation. In Dominica, you will not have to pay taxes on wealth, inheritance, capital gains, or gifts. There is also no tax on income earned in other countries.
- Service in European banking institutions. The passport of Dominica is the entry ticket to all banks in Europe. With this document, you can open accounts, conduct any financial transactions and keep money in a secure currency.
- Transfer citizenship to your future children. In this case, they will receive Dominican citizenship by descent.
Once you become a citizen of Dominica, you can not only enjoy its beautiful scenery: the black sands of beaches, rocky reefs, and rainforests. A passport to this country will also enhance your financial, legal, and political prospects.
How to get Dominica citizenship by investment?
An investor has the option of contributing financially to a construction project by investing money in a hotel or other tourist facility. The second option is to put the money into the country’s State Fund on a non-refundable basis. Given the fact that in the first case, the money can be withdrawn from the business in 5–7 years without damage, most investors still choose to invest in real estate.
Still, consider both investment options for obtaining Dominican citizenship:
1. Donation to the State Economic Development Fund
If an applicant plans to apply for Dominica citizenship alone, they will be required to contribute $100,000 to the country’s public fund. If they wish to include their spouse in the application, the amount will increase to $150,000. A family of four can qualify for citizenship if they donate $175,000 to Dominica’s economy. Then each family member under the age of 18 will have to pay an additional $25,000, and for each adult citizen – $50,000.
It should not be forgotten that this money is transferred to the state fund of Dominica on a non-refundable basis. If this does not suit the investor, the alternative is to invest in real estate.
2. Buying resort real estate
Instead of financing Dominica’s economy directly, investors can purchase one of the tourism infrastructure facilities approved by the state government. Often, these are modern five-star hotels where individual rooms or a cottage can be purchased. However, other options can also be found, such as investing in the construction of a marina. The advantage of such an investment is that you can sell the property after five years. In other words, the Dominican passport will cost the investor the number of fees and charges paid.
Regardless of the number of clients, the real estate’s value must be at least $200,000. Another advantage of this type of investment is the possibility of renting out the purchased property and earning between 2% and 5% per annum.
How do I get Dominica citizenship for $50,000?
To obtain citizenship in Dominica for $50,000:
- your close relative (husband/wife, parent, or adult child) must apply for Dominican citizenship for investment and put you on that application;
- the applicant has chosen to donate to a government fund.
Procedures and terms of the Dominica Citizenship by Investment Program
The procedure for obtaining citizenship by investment in Dominica consists of several steps and takes up to eight months on average. In order to obtain a passport, you need to:
- Decide on a qualified intermediary who can assist in obtaining economic citizenship. Such companies cooperate directly with the government of the desired state, carry out a preliminary check of the documents submitted, and can assess the likelihood of rejection. If the level of rejection is high, the investor will be offered alternative programmes.
- Prepare the necessary documents. This step usually takes up to a month and a half, after which the application package is handed over to Dominica Citizenship by Investment Unit.
- Wait for the end of the inspection and the decision. The verification, which is carried out by the Dominican authorities, is called Due Diligence and can take up to six months. It does not require the applicant to be physically present in the country; the procedure is carried out remotely.
- Obtain a passport. If the application is approved, the applicant will be issued an identity card and a certificate of naturalisation within one month of the application being issued. You can collect the documents in two ways: at the office of the intermediary with whom the cooperation agreement has been concluded or by ordering delivery by courier to the desired address.
The process of obtaining Dominica investment citizenship is transparent and user-friendly. In addition, those wishing to become citizens of this country always have the assurance that they will not waste money. The CBI programme involves the final payment of the agreed funds after a positive decision has been made on the application.
Dominica Citizenship by Investment Requirements
The Commonwealth Government of Dominica takes its citizenship programme very seriously and, therefore, carefully screens applicants for citizenship. Below are the requirements that an applicant and his or her family must meet in order to obtain a passport of Dominica.
Requirements for the applicant:
- 18 years of age or older;
- no criminal record;
- no refusal of a visa or citizenship;
- legal income;
- positive security clearance;
- good health.
Relatives the applicant may include in the application:
- an official spouse;
- children under 30 years of age who their parents financially support;
- parents or spouses who are at least 65 years old at the time of application and are dependent on the applicant.
If all of the above conditions are fulfilled, there is a high probability that the decision on the second citizenship will be positive.
Cost of Citizenship by Investment in Dominica
In addition to the mandatory investment in a state fund in Dominica or the purchase of real estate, those wishing to become a second passport holder must pay some mandatory fees:
- A Due Diligence check will cost $7,500. For spouses, parents, and children over the age of 16, the fee will be $4,000, and children under 16 will be tested free of charge.
- The application and processing fee is $1,000.
- The passport fee is $7,200.
- The certificate of naturalisation is $1,500.
- Other government levies account for the lion’s share of the total amount the applicant will have to pay. They vary depending on the size of the family:
- $25,000 for an investor;
- $35,000 for a family of up to four people;
- $50,000 for a family of up to six people;
- $70,000 for a family of more than six people.
Despite all the fees and charges, the Dominica CBI remains one of the most affordable programmes for obtaining economic citizenship.
Why You Should Choose Fintech Harbor Consulting for Dominica Citizenship by Investment
Choosing a licensed agent to assist with processing Dominica’s citizenship is key to ensuring that the procedure goes quickly, smoothly, and with the right result for the client. This is where Fintech Harbor comes in, a team of legal and financial professionals. In the area of the second citizenship, we guarantee the following:
- Minimising the risk of application rejection.
- Providing up-to-date information on available programmes and their conditions.
- Assistance in completing the application package.
- Working directly with the Government of Dominica to help speed up the passport process.
By contacting Fintech Harbor you can be sure that the second citizenship application process will be as quick and hassle-free as possible.
To qualify for citizenship for money, you must invest $100,000 or more in the state’s Economic Development Fund or purchase real estate worth $200,000 or more.
The Dominica passport allows you to visit more than 150 countries with no visa or visa on arrival, to use European banking facilities, and to live, study or work in the Caribbean.
It takes from two to six months for the application to be approved. In addition, the applicant will need time to prepare the application package (up to a month and a half) and another month or so before receiving the passport. Thus, the whole process can take about eight months.
Dual citizenship is officially allowed in Dominica. The requirements of the law of the candidate’s home state must be taken into account.
Yes, it is possible to include the applicant’s spouse, their children under 30, and parents over 65 in the application. Note that children and parents must be financially dependent on the applicant.
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