Benefits of Dominica Citizenship by Investment
The Commonwealth of Dominica, located in the Caribbean Sea, is one of the most beautiful countries in the world. Dominica is a traveller’s paradise due to its abundance of beaches and rainforests. The boiling lake is the second-largest hot spring in the world that has gained popularity among tourists all year.
Why choose Dominica citizenship by investment program?
Dominica is one of the first Caribbean countries to launch a citizenship by investment program. Since its launch in 1991, the Dominica citizenship by investment program has been in high demand since Dominica has gained its reputation as one of the safest countries in the world.
The Citizenship Act grants the government to award Dominica citizenship and a second passport to individuals who meet a set of rules and policy guidelines.
The Dominica citizenship by investment program lawfully provides individuals and families from all over the world with irrevocable second citizenship and passport in as little as four to six months, without the necessity of travelling to the region.
Benefits of holding a Dominica citizenship
Dominica passport allows visa-free entry to over 130 countries worldwide, including the European Union, Switzerland, the United Kingdom, Singapore, Russia, Brazil, and Hong Kong.
Since Dominica citizenship by investment program is bound legally by the law, local law does not impose any limitations on having dual nationality. Gaining second citizenship by investment in the country is a confidential procedure that does not require the applicant to renounce their current citizenship.
The Commonwealth of Dominica citizenship by investment program has no language, age, business background, or educational standards, and there is no interview required.
This economically stable country has one of the best living standards in the Caribbean with no taxes for non-residents, the lowest crime rate in the area and is one of the most naturally beautiful destinations in the world, with lush green mountains, countless scenic rivers, and waterfalls, and breath-taking white and black sandy beaches.
Eligibility for Dominica citizenship by investment
The applicant must be at least 18 years old and follow all of the Dominica immigration requirements outlined below to be considered eligible for citizenship.
- Clean Background Check
Individuals with exceptional character will be accepted into the Dominica citizenship program. To ensure that only credible people of impeccable character are granted citizenship, the Dominican government has a renowned private investigation firm that performs the due diligence process on all applicants above the age of 16.
Dominica is committed to upholding an outstanding level of due diligence to protect the legitimacy of its citizenship investment program except for individuals with no criminal record and funds obtained lawfully would be allowed to gain citizenship in the country.
- Good Health
Applicants must be in good health and free of infectious diseases to be eligible for Dominica citizenship.
- Financial Investment
To qualify for the Dominica citizenship by investment program, an applicant must either make a substantial financial contribution to a government fund or purchase an approved real estate on the island. In all cases, the applicant must make an official commitment to investing in applying to the investor program.
A) Government Fund
The Dominica Economic Diversification Fund (EDF) funds public and private sector projects in Dominica to boost economic growth and promote the island’s social and financial advancement. The public sector projects identified for funding, including the renovation of the local hospital, the construction of new schools, the construction of a national sports stadium, and the promotion of Dominica’s offshore industry.
The private sector projects financed by the fund importantly focus on the advancement of the nation’s information technology, tourism, and agricultural industries.
The Dominica Citizenship program provides incredible benefits to its applicants, and no other respectable investor citizenship program has reasonable investment requirements, making Dominica the most economical citizenship by investment program in the world. The cost of becoming a Dominican citizen is expected to rise significantly in 2021 or 2022, bringing the country’s prices more in line with other Caribbean citizenship programs.
Candidates applying to the government donation option must commit to paying the program’s cumulative sum within 30 days of obtaining approval in a letter from the CBIU. However, the applicant is not required to donate until they have completed the due diligence process and have been accepted in principle. Donations are deposited via wire transfer into a dedicated governmental escrow account at the National Commercial Bank of Dominica after securing formal conditional CBIU approval.
B) Real Estate
Dominica is one of the Caribbean’s most breath-taking islands, with pristine natural beauty – emerald green mountainsides cascading down to spectacular coastlines and the Caribbean Sea. The island has 365 rivers, one of the world’s highest thermally active “boiling pools,” a plethora of excellent hot springs, and an abundance of palm trees and vivid tropical flowers.
The number of visitors visiting Dominica each year continues to rise as more people explore the amazing hiking, fishing, bird watching, and other ecotourism opportunities available on the volcanically active island.
Foreign ownership of real estate in Dominica has grown exponentially in recent years along with the growth of the tourism industry. Americans are retiring in record numbers, drawn to the island’s natural beauty and peaceful way of life, businessmen and businesswomen from around the world, particularly from China, Russia, and the Middle East, are strategically investing in Dominica luxury resorts.
To apply for a Dominica citizenship program through the real estate investment option, an applicant must purchase approved real estate in the country for at least USD 200,000 and maintain ownership for at least three years. If the applicant owns the property for five years, they are entitled to resell it under the citizenship by investment program.
In the region, several Commonwealth of Dominica citizenship program approved real estate projects are currently under construction. One of the most exciting is Range Developments’ secluded Cabrits Resort Kempinski, which will be a sensational luxury hotel with breath-taking panoramic views of both the ocean and the mountains. Another noteworthy Dominica real estate venture is the Tranquility Beach by Sunstone Incorporated, which will be an environment-friendly resort with a world-class spa, fitness center, pool, and restaurant, all on a beautiful 4-acre plot of coastal land.
Both of these CBIU-approved real estate developments offer fractional ownership tailored to citizenship by investment applicants.
A foreign national is entitled to obtain absolute, lawful citizenship in the Commonwealth of Dominica for themselves and their families after prudently meeting all of the above conditions.
Applicants who are accepted by the Dominica Citizenship by Investment Unit will be given a Certificate of Naturalization and will obtain their new passport by courier within a week. After gaining Dominican citizenship, an investor will pass on their nationality to future generations by descent.