Commonwealth of Dominica at a Glance

 

The Citizenship by Investment Unit was established by the Commonwealth of Dominica in 1993 to encourage foreign investment, stimulate growth in the private sector and help Dominica’s economy expand in today’s competitive global environment.

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It’s one of the longest running citizenship by investment programs in the world. Throughout its existence, Dominica’s government has made concentrated efforts to continue improving the program and its offerings. Today, the Dominica Economic Citizenship Program is one of the fastest and most affordable in the Caribbean. The Commonwealth of Dominica is aptly called the Nature Island of the Caribbean due to its unique assortment of plants, animals and beautiful national parks.

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This tropical paradise abounds in unspoiled natural beauty with lush rainforests, waterfalls, 365 rivers, a UNESCO world heritage site, the world’s second largest thermally-active lake, and Morne Diablotins, one of the Caribbean’s highest peaks.

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It has been said that if Christopher Columbus would return to Dominica, it would be largely the same today as it was when he first saw it—a rarity in our world these days. Between its breathtaking scenery, ample outdoor adventure opportunities, rich local culture, and peaceful environment, it’s no wonder Dominica is considered one of the world’s happiest places to live.

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The sheer beauty of the country and the fact that the government is willing to back local and foreign investors are just few of the reasons why investing in Dominica can be a wise step.

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Dominica Citizenship By Investment Options

 

Dominica Citizenship by Investment program offers two investment channels, for applicants and their families to secure an irrevocable second passport and citizenship in Dominica.

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Economic Diversification Fund (EDF) - Donation

 

The Economic Diversification Fund (EDF) was established to fund national development in Dominica. If you apply for this citizenship by investment option your donations will fund public sector projects including building schools and a national sports stadium, hospital renovations, and the promotion of the offshore sector, as well as private projects focusing on tourism, IT and agriculture.

The EDF option requires a non-refundable donation of at least $100,000 for a single applicant. The required contribution amounts breakdown is as follows:

• $100,000 - single applicant

• $175,000 - main applicant plus spouse

• $200,000 - main applicant plus up to 3 qualifying dependents

• $25,000 - each additional qualifying dependent other than a spouse

In addition to the donation, the following processing and due diligence fees are required:

Processing Fee: $1,000 per application

Due Diligence Fees:

• Main applicant – $7,500

• Spouse – $4,000

• Dependent Child 16 and over – $4,000

Government fees do not apply to the EDF donation and investment option. This option is a more economical route for single applicants.

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Real Estate Developments

 

These designated development projects offer investment opportunities in government-approved real estate. This includes luxury hotels & spas, resorts, villas, residences, and other real estate development projects. One of the first approved real estate projects was the Cabrits Resort Kempinski which is the oldest luxury hotel group in Europe. The real estate must be held for 3 years in order to secure lifetime citizenship. It can be sold after the 3 year period, but the next buyer is only eligible to apply for citizenship if you sell after 5 years.

Dominican citizenship by investment with real estate development option requires applicants to invest at least $200,000 in approved government property.

In addition to the investment, the following processing, government and due diligence fees are required:

Processing Fee: $1,000 per application

Government Fees:

• $25,000 – main applicant

• $35,000 – main applicant plus spouse

• $35,000 – family of up to 4, including the main applicant and up to three dependents

• $50,000 – family of up to 6, including the main applicant and up to 5 dependents

• $70,000 –family of up to 7, including the main applicant and up to 6 dependents

Due Diligence Fees:

• Main applicant – $7,500

• Spouse – $4,000

• Dependent Child 16 and over – $4,000

While the real estate option can be a larger financial commitment up front, investing in real estate is a tangible and potentially lucrative long-term investment in a country with a booming tourism industry.

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Qualifications & Conditions To Apply

 

Due Diligence Fees

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• Main applicant – $7,500 spouse – $4,000

• Dependent Child 16 and over - $4,000

While the real estate option can be a larger financial commitment up front, investing in real estate is a tangible, and potentially lucrative long-term investment in a country with a booming tourism industry.

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Additional Conditions

 

In addition to the monetary investment requirements, there are several other conditions that applicants must meet in order to apply to the Dominica Citizenship by Investment program:

• At least 18 years old.

• Dependent children between the age of 18 and 30 years old

• Be of outstanding character.

• Be in excellent health.

• Hold no criminal record.

• Able and willing to make the required contribution.

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Dominica Citizenship By Investment Application Process

 

The Dominica Citizenship by Investment Program is simple and fast, yet thorough in its due diligence. An efficient pathway to secure a second passport in the Caribbean, the application processing time is currently 60 to 90 days. Once the application is approved by the Prime Minister of Dominica, the applicant will be issued a Certificate of Naturalization and receive a Dominica passport within seven days.

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Required Documents

 

The application, in order to be considered complete and admissible, should include:

• D1 – Disclosure Form

• D2 – Fingerprint and Photograph Verification Form

• D3 – Medical Questionnaire and Certificate (must be executed by a licensed medical practitioner)

• D4 – Investment Agreement (EDF option only)

• Sales and Purchase Agreement (Real estate option only)

• Application Form 12 (2 notarized copies)

• Color copies of all applicants’ passports

• Birth Certificate oMarriage Certificate/Dissolution of Marriage Certificate (if applicable)

• Police Record from country of birth, country of citizenship, country of residence (if different), and any country in which the applicant has resided in the past 10 years, for each applicant 16 years and over. For children aged 12-15, a sworn affidavit by the parent that a child does not have criminal record is required.

• Color copy of driver’s license

• Color copies of all identity documents/books or cards oColor copies of all military service and discharge documents (if applicable)

• Color copies of all documents for a name change (other than through marriage), if applicable

• 8 passport-size photos

• Proof of residential address (lease agreement or utility bill)

• Color copies of university/college diplomas

• Letter of recommendation from the head of the school/university for children between 12 and 18 years old

• Notarized affidavit of support for children between 18 and 30 years old

• HIV test results (for all applicants over 12)

• Routine blood and urine test results

• 1 professional reference

• Letter of employment/financial statements

• 12 months bank statements

• Notarized affidavit of source of funds

• Detailed business background reports/resume/CV

• Letter to the Minister

• Proof of payment of relevant fees

All color copies must be notarized and legalized prior to submission. All documents not in English must be translated, notarized, and legalized.

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Dominica Passport

 

The Expedited Passport Issuance Fee is $1,200 for each individual being issued a passport. Certificate of naturalization fee: $250 per person

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The Dominica passport by investment is valid for 10 years and 5 years for children 16 or younger. The passport can be renewed for life for a fee at any Dominica consulate, embassy, high commission office, or at the Dominica passport office in Roseau, the nation's capital. Our team at HNWI can also take care of the renewal on your behalf when the time comes.

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What Are The Dominica Citizenship Benefits?

 

The Economic Dominica Citizenship by Investment Program opens up a wealth of benefits. Secure a dual citizenship in paradise, surrounded by beautiful beaches, tropical rainforests, hot springs, waterfalls, and exotic wildlife, complemented by a rich culture and welcoming local population. There are also many pragmatic advantages including increased mobility, financial incentives and business expansion. Here are some key benefits:

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Minimal Program Requirements

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• No requirement to travel to Dominica during the application process

• Fast application processing

• No requirement to live in Dominica, though you certainly can

• As a citizen you can live, work and establish businesses in any CARICOM member state.

• Allows dual citizenship and has 17 embassies and consulate generals around the world in North America, Europe, Morocco, India, and China

• No disclosure to the home nation that second citizenship has been applied for or established

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Financial

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• Generous tax system that does not tax on wealth, gift, inheritance, foreign income or capital gains

• Tax holidays

• Double taxation treaties with the USA and CARICOM

• Generous incentive packages include corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance

• Stable currency pegged to US Dollar

• Protection of bank accounts

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Lifestyle

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• As of 9 October 2018, Dominica citizens had visa-free or visa on arrival travel to 137 countries and territories, including the UK, Schengen area, Singapore and Hong Kong

• The right to live and work permanently in the country

• Family-inclusive program.Immediate dependent family membersincluding your spouse, children below 30, and elderly parents over 55 can also obtain a second passport

• Dominica offers a rich mix of European and African cultures

• Official language is English

• Tropical paradise with gorgeous nature including world’s second largest hot spring, a World Heritage Site National Park, and beautiful beaches

• High quality of life

• Friendly and welcoming local population One of the world’s happiest places to live—safe, peaceful, clean

• Citizenship may be inherited by the new citizens' successors

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Business

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• Member of CARICOM, The Commonwealth of Nations, Organization of Eastern Caribbean States (OECS), the Caribbean Development Bank (CDB), the United Nations, the International Monetary Fund, the World Bank, and the Organization of American States (OAS)

• Tourism, eco-tourism and the financial services industry are growing drivers of the economy with ample business opportunities

• Full exemption from import duties

• Duty-free trading in the Caribbean

• Educated and skilled workforce