Nested between Guadeloupe and Martinique, Dominica is the only country in the Eastern Caribbean still home to an impressive population of indigenous people, the Kalinago who’ve been inhabitants of the island since the 13th century. Being dubbed the ‘natural island’, Dominica defies the Caribbean normality. Although there is no mass tourism or rum-fueled festivities, the island lures in individualists and eco-adventures with its Boiling Lake, Champagne Reef, sulfurous hot springs and the Caribbean’s first long-distance hiking trail.
The island vaunts English, French, African and Caribbean roots which, together, blend into a unique way of life and culture. Dominica, nonetheless, offers a stable political and economic climate and enjoys one of the lowest crime rates in the Eastern Caribbean.
Dominica Citizenship by Investment Programme
Introduced in 1993, the Dominica Citizenship by Investment programme has been legally entrenched in the Dominican Constitution and the Citizenship Act. This programme attracts applicants of good character to make an investment in Dominica in exchange for them and their family to become eligible to obtain full citizenship of the country, within the strict guidelines of the law.
Investors, in exchange for citizenships, are to make an investment in a national fund or real estate. The programme goes on to grant citizenship for life, with the possibility of transcendence to future generations.
Benefits of the Dominica Citizenship by Investment Programme
The Dominican Citizenship by Investment Programme offers numerous benefits. As a favourable tax jurisdiction, investors in the programme are not taxed on any income earned outside of Dominica, unless they decide to live there. New citizens, additionally, are also exempt from tax on wealth, inheritance or capital gains.
The processing time for a Dominican citizenship by investment is a swift period of 3 months. Following this, applicants would be granted in-principle approval and subsequently be issued the certificate of naturalisation. Apart from being expedient, the programme allows applicants to retain their primary citizenship as the Dominican government allows dual citizenship. The application process, nonetheless, is extremely confidential and the privacy of the applicants is respected.
Increased international mobility is well-known to improve a person’s quality of life. Traveling with a Dominican passport empowers an individual to visit an expansive list of countries without the added-on stress and hassle of having to apply for a visitor visa. The Dominica citizenship by investment programme grants access to 127 visa-free destinations. Such destinations incorporate the likes of the EU, the UK and even, Hong Kong.
Furthermore, even when visiting a jurisdiction that requires Dominican citizens to first attain a tourist visa, Dominican passport holders have an advantage – they usually face much less stringent visa application conditions. Holding citizenship in a Commonwealth country such as Dominica makes it easier to procure a business visa or residence permit in many other Commonwealth countries, such as Canada and Australia.
Eligibility for the Dominica Citizenship by Investment Programme
Clean Background Check and Good Health
An applicant, to be eligible for the Dominica Citizenship by Investment Programme, must be at least 18 years of age. The programme goes on to legally grant eligible persons instant citizenship in the country with the issuing of a Certificate of Naturalisation. Applicants must undergo a ‘fit and proper test’, which obliges applicants to demonstrate a clean criminal record verified by INTERPOL and other international authorities. The programme will only accept individuals of outstanding character and repute. This ensures that only credible persons of impeccable standing are given citizenship. Moreover, applicants should also have excellent health and must go on to show that they do not suffer from any contagious diseases.
An unlimited number of eligible dependents can be included in the Dominica Citizenship by Investment Programme. An investor may include their whole family regardless of how many children they have. While there is no numerical limit on the number of dependents that can gain citizenship together, only people fully supported by the principal applicant are considered as suitable. The maximum age for dependent children has been increased to that of 28 years – this threshold distinguishes this programme from any other Eastern Caribbean citizenship by investment programme, as it is one of the highest ages for dependents in the industry. The minimum age for dependent parents and grandparents, moreover, has been reduced to 55 years of age.
Dominica Citizenship by Investment Programme Investment Requirements
There are two investment options that an applicant may choose to proceed with when applying for the Dominica Citizenship by Investment Programme.
Investment in Real Estate
Having perfectly unspoiled nature, Dominica boasts emerald green mountain sides, which precipitously cascade down to sensational coastlines and the mild Caribbean ocean. To qualify for citizenship under the real estate option, an applicant must buy approved real estate in the country for at least US$200,000. From thereon, the applicant would maintain ownership for a minimum of three years. If the applicant maintains ownership for five years, they would furthermore be eligible to re-sell the property under the Dominica Citizenship by Investment Programme.
A single applicant is required to pay a non-refundable fee of USD $25,000, while a family application with up to four members- including the main applicant and three other dependants- requires a government fee payment of US$35,000. Additional fees, nonetheless, apply for any other additional dependents.
Contribution to the Economic Diversification Fund (EDF)
The Economic Diversification Fund was established through the Dominica citizenship by investment programme as one component of a national capital mobilisation portfolio. The government of Dominica, with these contributions, aims to improve the island’s national development. These funds are utilised for public and private sector projects – encompassing hospital renovations, the building of schools as well as the promotion of the offshore sector. The government, with respect to the private sector, aims to improve the tourism, information technology and agriculture sectors.
The minimum contribution requirements for the fund option, call for a non-refundable contribution of US$100,000 for a single applicant. For spouses, the main applicant and the spouse are required to invest a non-refundable contribution of US$175,000. A family application, which includes the main applicant, a spouse and two children under the age of 18, would then require a non-refundable investment of US$200,000. An additional US$25,000 would also be required for any other dependent in the family.