Dominica Citizenship by Investment

Commonwealth of Dominica Citizenship by Investment: An Economic Citizenships

Dominica's Citizenship by Investment stands among the top in the Citizenship program in the Commonwealth of Dominica. It allows investors to invest in Dominica and obtain Dominica Citizenship through investment for themselves and their families, which provides security, freedom and flexibility with a second passport. The Dominica citizenship investment program is part of the country's efforts to mobilize capital and promote national development and resilience. Consequently, the government plans to allocate resources generated through the economic citizenship program to both private and public sector projects where they are needed. Becoming a citizen of Dominica means that you will become a citizen of a peaceful country for life and future generations.

Origin of Dominica Citizenship by Investment Program

In the past, only individuals who had resided continuously in the Commonwealth of Dominica for five years could be granted citizenship. However, in 1993, the Dominica Citizenship by Investment Program of Economic Citizenship was introduced, which waived the residency requirements. As per the Naturalization and Citizenship Act amendment, a person can be granted Dominica Citizenship subject to a stipulated investment. Furthermore, the EU has recently abolished the visa requirement for Dominica Nationals. This program serves as a way for the government to raise foreign investment to help and support the country's economy and develop the island's infrastructure. Later, in January 2015, a real estate investment option was introduced.

Why Choose Dominica?

Dominica is a beautiful Caribbean country famous for its friendly business environment. Holding a Dominica passport comes with the benefit of visa-free travel, providing global mobility for you and your Family. The country also offers attractive tax policies and has a double taxation treaty to prevent double taxation. With a growing economy and high living standards, obtaining citizenship by investment in Dominica is an excellent choice, with a minimum investment of $100,000. As a citizen, you can enjoy the benefits of a Dominica second passport, including the right to live and work in Dominica and visa-free travel to more than 140 countries worldwide.

What is the Dominica Citizenship by Investment Program?

The Dominica Citizenship by Investment Program is an initiative by the Dominica Government that allows foreign individuals to obtain citizenship in the Commonwealth of Dominica by making a qualifying economic contribution. The program's main objective is to attract foreign direct investment to support the country's people. Through this program, individual investors and their families can secure citizenship without obtaining residency before or after acquiring it, offering investors the benefits of attractive tax policies.

Essential Requirement in Dominica Citizenship by Investment Program

To obtain successful citizenship in Dominica, one must follow an eligibility criterion for Dominica Citizenship by Investment.

1. Age Eligibility

The age requirement of an applicant is 18 years old in the Dominica Citizenship by Investment.

2. Solid Background

The applicant must have a solid background with no criminal record to become eligible for the Dominica Citizenship by Investment Program because, during the time of application approval, there is a thorough background check to ensure the security of Dominica.

3. Investment Plans

There are a few investment options from which the applicant must choose to become an eligible citizen of Dominica through Dominica’s citizenship by investment programs.

4. Strong Financial Background

The applicant must provide evidence of a solid financial background to invest, including proof of funds and other financial documents.

5. Good Health

The applicant and their Family must undergo health checkups to ensure they are healthy and submit the medical examination report with the application.

6. Members of the Family

The applicant can also include their family members by choosing a suitable investment option to obtain access to the Dominica Passport.

Essential Papers for Dominica Citizenship by Investment

The essential papers for Dominica Citizenship by Investment are given below:

• Application Form of the Dominica Citizenship by Investment.
• The applicants and their families photocopies of passports need to be submitted.
• Passport-size photograph of the applicant and their family members.
• Copy of the Birth Certificate.
• Residential Address proof of the applicant.
• Evidence of a solid financial background.
• A medical examination report needs to be submitted.
• A certified copy of the marriage certificate of the applicant.
• Proof of the application fees paid for the Dominica Citizenship by Investment.  

How do you qualify for the Dominica Citizenship by Investment Program?

To qualify for Dominica's Citizenship by Investment program, one must choose an investment option such as the Economic Diversification Fund. This option was created as part of a national capital mobilization portfolio to support the government's goal of developing the Commonwealth of Dominica. To qualify for the real estate option, investors must enter into a contract to purchase real estate worth $200,000 or more. This investment is necessary to qualify for Dominica citizenship through the Citizenship by Investment program.

Encourage the Global Citizenship by Dominica Citizenship by Investment Program  

Dominica Citizenship by Investment programs are essential in empowering global citizenship by providing an individual with a second citizenship.

1. International Flexibility

Dominica provides international flexibility due to its visa-free travel to 140 countries without any extensive visa application.

2. Investment Options

The Dominica Citizenship by Investment Program offers several investment options, from which the applicant needs to choose a suitable option to acquire citizenship through investment in Dominica.

3. Economic Opportunities

Dominica Citizenship by Investment becomes a part of a business-friendly environment. It provides individual access to economic opportunities and potential business projects to attract investors seeking new markets and expansion in the country.

4. Development of Infrastructure

The financial contribution made by the individual through the Dominica Citizenship by Investment Program plays an essential role in the sustainable development of Dominica, which includes investment in the development of its social infrastructure.

Application Process for the Dominica Citizenship by Investment Program

The Dominica Citizenship by Investment Program has the following application process such as:

1. Submission of Necessary Documents

Our team of professionals helps collect or prepare the required documents and application forms to be submitted to the Authorized Agent.

2. Due Diligence Checks

The government of Dominica performs due diligence in checking the applicant's background before providing the approval. 

3. Investment Contribution

The applicant is required to contribute to the chosen investment option.

4. Review of Application

The Citizenship by Investment Unit will examine the documents submitted along with the application form.

5. Issuance of Certificate

After the examination and the completion of the contribution, the government issues the certificate.

6. Application of Passport

The applicant and their family members can apply for a Dominica passport after receiving the certificate of citizenship from the Dominica Government.

Acquire Effortless Dominica Citizenship by Investment with Enterslice

Our team assist in the seamless process of securing Dominica's Citizenship by Investment.

1. Assistance By Experts

Our team of experts in Enterslice assists in choosing a suitable investment option and guides the applicant through the benefits. We also assist in the entire Dominica Citizenship by Investment process to successfully obtain citizenship in Dominica.

2. Quotation

Our team prepared a pricing catalogue for the applicant, clearly showing the cost required to obtain Dominica’s Citizenship by Investment.

3. Due Diligence

Our experts perform due diligence to minimize the possibility of the applicant's application being rejected by analyzing it and gathering and verifying the essential papers to maintain a seamless journey for obtaining Dominica Citizenship by Investment.

4. Submit the Documents

After examining all the documents and the application, our experts will submit the documents to the Dominica Citizenship Investment Unit for further processing.

Benefits of Dominica's Citizenship by Investment

Dominica Citizenship by Investment has numerous benefits, and several individuals apply for it to avail themselves of those benefits. 

1. Travel Visa-Free

Dominica passport holders can travel visa-free to over 140 countries, including all EU member states and territories.

2.     No Minimum Stay

No minimum stay is required to hold or grant citizenship by Investment in Dominica, so investors don't have to relocate or live for a specific time in the country to secure citizenship.

3. Tax Implication

A Dominican passport will help the applicant take advantage of Dominica's tax implications, where there is an attractive tax policy.

4. Inclusive of Family Member

The applicant and their family members can obtain Dominica Citizenship by Investment by choosing a relevant investment option and contributing to the investment plan to secure a bright future for upcoming generations. The program allows investors to apply for their entire Family, including dependent spouses, unmarried siblings, dependent parents, and children under the age of 18, and they can all enjoy the same benefits as the applicant enjoys.

Administration of Dominica Citizenship by Investment Program

Dominica has a unique government agency within the Department of Finance that handles all the matters related to economic citizenship, from verification of the documents to issuance of the certificate of citizenship. The entity is known as the Dominica Citizenship by Investment Unit, and the issuance of the certificate for citizenship is the sole decision of the CIU director and the examiner is the authorized person to present the new citizenship application under the program and provide approval to issue the certificate of citizenship.

Tax Implication of Dominica Citizenship by Investment

Dominica's citizens benefit from a low taxation system and can trade freely within the Caribbean region with complete exemption. No personal income tax is levied on income earned from outside Dominica after obtaining Dominica citizenship by investment. Additionally, investors are not subject to capital gains tax on their investments or assets, which is a significant advantage. However, the only income that gets taxed, which is earned within the territorial boundaries of Dominica, will be taxed at the current corporate tax rate.

Who Can Obtain a Dominica Passport?

As mentioned below, the investor and his dependent family member can obtain a Dominica Passport like the investors and enjoy the benefits of Dominica Citizenship.

1. Investor

An investor with financial stability and a transparent background can obtain the Dominica passport by choosing an investment option.

2. Spouse

The applicant includes his spouse by choosing a required investment option to obtain the Dominica Citizenship.

3. Children Under 18 Years of Age

The applicant includes his two children under the age of 18 years to obtain Dominica citizenship by choosing a required investment option.  

4. Mentally or Physically Challenged Children

The applicant includes his physically or mentally challenged children for obtaining Dominica Citizenship by choosing a required investment option.

5. Dependent Parents above the Age of 65

The applicant includes his dependent parent above the age of 65 years for obtaining Dominica Citizenship by choosing a required investment option.

6. Dependent Siblings up to the Age of 25

The applicant includes his dependent siblings up to the age of 25 years for obtaining Dominica Citizenship by choosing a required investment option.

Investment Options to Obtain Dominica Citizenship by Investment Program

Below are the investment options that the applicant must choose to obtain Dominica Citizenship by Investment.

1. Economic Diversification Fund (Dominica Citizenship by Donation)

The Dominica Citizenship by Investment provides an Economic Diversification Fund as an investment option to support projects in Dominica's public and private sectors. The main aim of this investment option is to increase Dominica's national development and support the maintenance of financial security. The private sector projects in this program help in the social development and promote the Dominica Offshore Company; however, the primary focus of the private sector projects is to advance Dominica in the fields of technology, tourism, and agriculture. The applicant can qualify for this investment option by making a non-refundable contribution to the Economic Diversification Fund. Below is the list of the minimum contribution amount:

• For a single applicant: $100,000
• For an applicant with a spouse: $150,000
• For an applicant with a spouse and up to two children: $175,000
• Eligible siblings: $50,000
• Additional dependents: $25,000.

This contribution amount is lower than that of other citizens by investment countries. Suppose the individual is applying for the Economic Diversification Fund. In that case, the applicant must pay the total amount specified within 30 days of receiving the approval in the principal letter from the Citizenship Investment Unit. The contribution will be deposited into the escrow account of the government of Dominica at the National Commercial Bank of Dominica.

2. Real Estate (Dominica Citizenship by Investment)

Dominica is a stunning island that attracts many tourists every year. The tourism industry in Dominica is growing, and foreign ownership of real estate has rapidly increased. However, suppose someone wants to invest in real estate projects in Dominica and qualify for the Dominica Citizenship by Investment Program in the real estate option. In that case, they need to purchase real estate projects for $ 200,000, which the government approves. The applicant must also maintain ownership for a minimum of three years. The property can be resold if the applicant maintains the ownership of the property for five years under the Citizenship by Investment Program. Here are the government fees for applying to the Dominica Citizenship by Investment Program under the real estate option:

• Single applicant: $25,000
• Spouse: $10,000
• Up to 4 members of Family: $35,000
• Up to 6 members of Family: $50,000
• Seven or more members of the Family: $70,000
• Eligible siblings of 18 to 25 Years of Age: $50,000 each
• Additional dependents: $25,000 each.

Benefits of Second Citizenship in Dominica

To expand financial investments across a global market, a second passport offers economic and political diversification and the individual, by securing a second passport, sets themselves free from depending on a single country. This also includes international mobility and facilitates effortless travel with a less challenging visa application process in Dominica. The individual gets the passport easily renewed at any Dominica embassy or high commission office with no residency requirement.

Comparison of Dominica's Citizenship by Investment Program with Other Countries

The Dominica Citizenship by Investment Program offers hassle-free second citizenship and a powerful second passport at a much lower cost than the other investment citizenship programs. The Dominica passport allows visa-free travel to more than 140 countries. Also, no physical residency is required in the Dominica Citizenship by Investment Program. Dominica has implemented highly streamlined processes that meet the needs of investors to maintain its stability and reputation. The due diligence process in Dominica is far more stringent than in Turkey or other countries, with an initial check by the CBIU. There are various approaches to due diligence, which is why Dominica Second Citizenship is highly recommended. 

Time Frame to Obtain the Dominica Citizenship by Investment Program

The application will be processed in 60-90 days from the date it is submitted to the Dominica Citizenship by Investment Unit (CBIU). The investment is only payable once the application is approved. Once the investment is approved, the individual is issued a Dominica Passport. It will take 3-6 months to obtain a Dominica Citizenship by Investment Program.