Citizenship By Investment: Commonwealth of Dominica

With year-round warm temperatures, unbeatable scenery and the enchanting Caribbean Sea lapping at the shore, it’s not hard to see why Dominica is so popular. With its friendly people and laid back appeal, the beaches are stunning and quality of life is high.

The Commonwealth of Dominica first introduced its particularly reputable Citizenship by Investment Programme back in 1993 and has enjoyed growing success ever since. The island is also proud to offer one of the more affordable economic citizenship programmes, placing heavy importance on the overall quality of its applicants and what they can contribute to the nation as a whole.

Enjoy the benefits

High net worth individuals who become a citizen of the Commonwealth of Dominica through investment can enjoy a number of benefits, including:

  • The right to live and work on the island of Dominica with guaranteed citizenship
  • Dual citizenship and a second passport, plus the right to hand down citizenship to future generations
  • Visa-free travel to more than 130 countries and territories across the world, including the UK and EU
  • Low taxes, for example no gift tax, capital gains tax or inheritance tax
  • Socially, political, legal and economic stability
  • A relaxed, slower pace of life in a lush island paradise

Why choose to invest in Dominica?

The Commonwealth of Dominica offers some fantastic investment opportunities in the island specifically, including:

  • A transparent application policy with fast processing times
  • The chance for family members to also gain citizenship
  • No requirement for business experience
  • No need for an interview
  • No requirement to reside in Dominica at any point

Who can apply?

To be eligible for citizenship by investment in Dominica, an applicant must be at least 18 years old, have no criminal record, be of good character and be in good health. Applicants and their families can all come under the same application.

The Process: Quick Summary

The application process is rigorous for citizenship in Dominica and the team at Citizenship by Investment would be pleased to help in order to achieve quick success.

Clients usually take around 1 to 2 months to get together all the required documentation, and once submitted it only takes around 3 months maximum for the Commonwealth of Dominica’s government department to process each application.

To give an idea of the process involved, here are the necessary steps:

Step 1: Speak to us at CBI to ask any questions and begin the application process. We can check the finished application and pre-approve it to make sure everything’s in order

Step 2: Submit the application to the authorities on Dominica

Step 3: The application is processed and due diligence checks are undertaken. These usually require a maximum of 3 months to complete.

Step 4: Approval in principle is made

Step 5: Real estate is purchased or an investment into the Economic Diversification Fund (EDF) is made

Step 6: Citizenship is granted, complete with a certificate

Step 7: An application can be submitted for a passport

Options for Investment in Dominica

Citizenship by investment inDominica can be achieved in two ways, via:

  • The purchase of pre-approved real estate;
  • A one-off contribution to the Economic Diversification Fund (EDF)

Option 1: Investment in Real Estate

Applicants can purchase Government-approved real estate which must be retained for a period of at least three years. However, if an applicant wishes to sell their property on to another applicant under the CBI programme, they must then wait a minimum of five years.

Minimum Investment

Per application: USD 200,000

 

Government Fees

Main applicant and their spouse: USD 35,000

Family consisting of up to four people: USD 35,000

Family of up to six people: USD 50,000

Family of seven people or more: USD 70,000

Due Diligence Fees

Main applicant: USD 7,500

Applicant’s spouse: USD 4,000

Dependant aged 16 years or over: USD 4,000

Processing Fees

Per application: USD 1,000

 

Well worth noting!According to the Citizenship by Investment Unit (CBIU), applicants are responsible for paying all of the fees necessary as stipulated by the Dominica Citizenship by Investment Programme.

This therefore means that when an applicant pays for fees via bank transfer, they must also settle any applicable bank charges. This ensures that payments are received in full by the Government.

Fees are given in United States dollars (USD). However, the Commonwealth of Dominica Government will also accept pounds sterling (GBP) and euros (EUR) andfor the following:

  • Processing fees
  • Due diligence fees
  • Expedited passport issuance fees
  • Certificate of Naturalisation fees
  • Government fees (real estate option only)

Please note:Any payments in GBP or EUR must be equivalent to or more than than the full fee amount in USD on the day the recipient bank processes it.If a payment is below this, it will be rejected.

Option 2:Economic Diversification Fund (EDF)

With this option, applicants must pay a financial contribution (non-refundable) to the EDF.

Minimum Contribution

Main applicant: USD 100,000

Main applicant and their spouse: USD 175,000

Main applicant with a maximum of three dependants: USD 200,000

Per additional dependant: USD 25,000

 

Due Diligence Fees

Main Applicant: USD 7,500

Spouse: USD 4,000

Dependant aged 16 years or over: USD 4,000

 

Processing Fees

Per application: USD 1,000

Why put your trust in theCitizenship by Investment team?

Here at CBI we understand that gaining second citizenship can be a minefield of crucial decisions – not to mention paperwork. However, we are experts at dealing with every part of the citizenship by investment process and through our unique blend of knowledge and customer service we’ll soon find the solution for you. Providing a professional, personalised approach, we tailor our offering to your unique circumstances and will guide you every step of the way.

We work closely with all our partners and clients in everything from choosing the ideal programme through to the completing the application and beyond. Whether you’re new to the world of foreign investments or have years of global financial experience, we are ready and waiting to help.

So if you have any questions or simply want to ensure the smoothest process possible, get in touch with the team today using our contact form and we’ll be pleased to get back to you.

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