Why Dominica?
While many other Caribbean nations have been claimed by tourism, Dominica seems to be the best at maintaining its natural beauty and supporting pristine beaches amongst a rise in tourism. It is actually said that if Christopher Columbus, who helped the Spanish discover Dominica, was to visit the island today, it would be one of the only Caribbean islands that he still recognizes. It also has an incredibly strong economy with a currency tied to the US dollar, so investors can feel confident in their future.
Boasting the title of one of the most “untouched” Caribbean island nations, Dominica is filled with natural hot springs, coastal views, and lively rainforests. This country is an oasis for nature lovers. With the incredibly affordable Dominica Citizenship by Investment Program, being able to call it home is just a few steps away.
Proud of being one of the cheapest programs offered in the Caribbean, citizenship by investment in Dominca starts at just $100,000. However, applicants will never be asked to sacrifice quality or benefits in exchange for a low price tag; this program has been in place since 1993 and opens up visa-free travel opportunities to 145 countries for holders of the Dominica passport, along with many other benefits.
Benefits of Pursuing Dominica Citizenship by Investment
People who hold a second passport are privy to numerous benefits; visa-free travel is just the start. Dominica has worked hard to put the systems in place that allow taxation benefits, business benefits, and other travel benefits for its passport holders. It is also a point of pride for the country to allow its economic health to provide a safe haven for residents of countries that struggle with safety, finances, and unstable environments. Below are some of the major benefits of Dominica’s Citizenship by Investment Program.
Required documents for obtaining Dominica economic citizenship
Required documents for obtaining Dominica economic citizenshipa
required are the following:
international passports — for all applicants;
internal passports or ID cards — for all applicants;
birth certificates — for all applicants;
all obtained degrees, diplomas, or certificates for higher education — for all applicants;
marriage or divorce certificates — for all applicants when applicable;
police clearance certificates — for applicants over 14;
residence permits — for all applicants;
CVs or business biographies — for applicants over 18;
passport-size photos — for all applicants.
To prove a residential address, the applicant provides a recent utility bill.
The sources of funds can be confirmed if the investor submits:
a letter of employment verification — for the main applicants and their spouse;
bank statements for the last 12 months — for the main applicant;
recommendation from the bank — for the main applicant;
documents confirming the source of income, such as a certificate of income, salary statements, statements from the corporate registry, a certificate of incorporation, or tax declarations — for the main applicant;
professional and personal recommendations — for the main applicant.
Medical documents added to the application include HIV tests for applicants over 12 and hemanalysis and urine tests for all applicants.
If the investor purchases real estate under the Dominica CBI program, they provide a contract of sale, a reservation contract, a contract for escrow, and a deposit.
Good health.
Outstanding character.
No criminal record.
Satisfactory financial background.
Health and Background Checks
St. Lucia requires that applicants have a clean criminal record and undergo thorough health and background checks. These checks are crucial in maintaining the integrity of the program and the safety of the nation.
Health Clearance: Applicants must not have any contagious diseases or serious health conditions that might pose a threat to public health.
Criminal Clearance: A clean criminal record is mandatory, and individuals must provide proof from their country of origin as well as from any other country they have lived in for more than one year during the past ten years.
Dependents and Family Inclusion
Applicants can also include dependents in their citizenship application, but these family members must meet certain requirements:
Spouse: Legally married partners are eligible.
Children: Applicants’ dependent children under 21 who are fully supported by them are eligible.
Other Dependents:
Children aged 21-30 if they are full-time students or have disabilities
Parents or grandparents over 55 if they are financially dependent on the principal applicant
Siblings may be included if they are unmarried, childless, under 18 years of age, and have consent from their parents or legal guardians
Real Estate Investment
This option requires investors to purchase ownership in properties that have been approved by the government of Dominica to qualify for this program. Often, luxury hotels, condos, or other accommodations qualify. The minimum amount required for a single applicant is $200,000, which must be held for at least 3 years until it can be sold. Please note that the holding period is 5 years if the new buyer shall qualify for citizenship.
The unique aspect of this investment type is that the $200,000 minimum stands for an applicant and spouse, as well as a family of any size. There are additional government fees and due diligence fees that exist on a per-person basis. Due diligence fees are $7,500 for the primary investor, and an additional $4,000 for a spouse, each child aged 16 or older, or other dependents aged 16 or older. Government fees start at $25,000 for the primary applicant and rise with each additional person listed on the application as well.
Economy Diversification Fund
The cheaper of the two options, contributing to the Dominica Economy Diversification Fund requires a $100,000 upfront investment for a single applicant. This option, unlike the real estate route, does require larger investments for each person added to the applicant’s application. For instance, an applicant and their spouse are required to donate $150,000, a family of four will need $175,000, and larger families will require $175,000 plus $25,000 for every additional dependent.
The due diligence fees for this option are the same as the due diligence fees for real estate investments. With a contribution to this fund, applicants are directly helping support Dominica and its residents, however, the investment is non-refundable and has no future profit potential.
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