Program overview – Citizenship by investment program in Dominica was established in 1993. Being one of the most affordable citizenship by investment programs in Caribbean, it has two investment options (real estate and non-refundable contribution to the Government Fund) in exchange of citizenship. Despite low investment level, application process is uncomplicated (interview on rare occasions may be required at the discretion of the government) and has no minimum residency requirement. Each applicant regardless selected investment option receives citizenship in a short 3 – 4 months period and visa-free travels to more than 135 countries.
Real estate project allows retaining and subletting property for tenants, so it might be kept as profitable investment. Opportunities refunding entire amount, with profit appears after 3-year mandatory holding period. However, in case of property re-sell to another applicant under real estate program, it must be held for at least 5-years since the original purchase date.
Government Fund option was established by Dominica’s government to invigorate country’s economy. Accumulated funds are allocated to sponsor tourism, industralization, agriculture, education by building schools and healthcare by renovating hospitals.
Passport validity for adults and under aged dependants is 10 and 5 years, respectively. Second citizenship is allowed so new passport holders are not obliged to withdraw any other nationalities they hold.
Requirements – Main applicant should be at least 18 years old and of positive characteristics. Investor and dependants over 16 must have a clean criminal record, be healthy and pass due diligence checks.
More about the program
Family – As part of this program every applicant is entitled to include their spouse, children under 18 as well as unmarried, dependent and full-time enrolled in higher education children between 18 and 28 and parents over 55. Unmarried daughters who are under 25 (not studying), living with and fully supported by the main applicant may qualify as dependents. Physically or mentally challenged parents or children might be included as well.
Living, Working, Studying and Traveling – Once citizenship is obtained investors and their families are free to live, work and study in Caribbean CARICOM members, as well as travel to more than 135 visa-free countries including United Kingdom, Caribbean and Commonwealth nations, EU and Schengen area, Singapore, Hong Kong and more. After opening a new international airport in Antigua in 2015 Caribbean Islands has become even easier to reach.
Financials. Real estate VS contribution
Real Estate Investment – qualifying investment level applying through real estate program is $ 200 000. it is important that targeted properties must be confirmed by Dominican government.
In addition to property investment each applicant must reimburse non-refundable government fees prior the application process. Amount of funds ranges regarding the number of candidates, where in case of family application main applicant is charged $ 50 000, minor dependent $ 20 000, spouse and dependent of 18 years and over – $ 25 000 and accordingly.
Contribution – The program requires Investor alone paying significant, non-refundable contributions of $100 000 to the Government Fund, established by Dominica’s Government. In case of family application, contribution increases depending on final number of members. If main applicant and spouse $ 175 000 is requested. Assuming that main applicant and spouse applies with up to 2 underaged children contribution of $ 200 000 must be reimbursed. Any additional applicant must contribute extra 50 000 USD.
Despite the chosen option additional fees of processing ($ 3 000 per person), due diligence ($ 7 500/main applicant or spouse; $ 4 000/dependent over 16), Certificate of Naturalization ($ 750/per person) and passport ($ 100/per person if regular or $ 1 200/per person if fast option is selected) are payable by each family member.
Dominica Real Estate
Jungle Bay Eco Villa
Jungle Bay is one of Caribbean’s most successful resorts, located in the south-east of the island. Resort having lush mountainous rainforests, many rare plants, animals and birds currently is developing 120 new luxury ecologically friendly villas to host the resort’s guests. Each 345 square feet villa coming with 1,000 square feet of land, is maintained and marketed to guests on behalf of the owners. The rental income is split on a 50/50 basis, net of maintenance costs. Vacation villas start at 200 000 USD per unit.
Tranquility Beach Resort
Tranquility beach resort is situated along the shores of Salisbury on the west coast of the Island, which is known due to its fabulous surroundings, creole cuisine and coral reefs’ and crystal-clear waters‘ dive sites. Famous Hilton Worldwide hotels’ brand will be operating luxurious Dominican resort . Villas will be offering 1 or 2 stores options from 1 600 interior and 1 300 square feet exterior to 2 350 interior and 1 550 square feet exterior living spaces. Minimum investment level is 220 000 USD.
Programs Investment costs
*Real estate might be sold after 3-year period.
**Contribution amount varies depending on number of dependants.
Taxes – Dominica has favorable tax system and has no taxes on international revenue, wealth, inheritance, Non-resident citizens are only taxed on income from or sourced in Dominica. Only in case of real estate option property registration, processing fees and taxes must be paid.
Timescale and Payment Outline
Step 1 (3 – 5 days)
Pre-due diligence allows avoiding possible issues and assure eligibility. It also allows for ineligible applicants to save unnecessary costs, time and eﬀort.
Step 1 requires:
In cases of questionable pre-due diligence outcomes, enhanced background checks may be required, including possible cooperation with the relevant authorities. 50% agent fee applied.
Step 2 (1 month)
Collection and preparation of documentation usually takes approximately 1 month to prepare all documents which must be translated to English, apostilled and notarized.
Step 2 requires:
Step 3 (1 day)
Our legal representative provides all necessary documents to the immigration office and accomplishes citizenship application on client’s behalf. Physical presence of applicant is not required. Investment must be made only after approval in principal is issued. 50% balance of agent fee, due diligence and processing fees are required.
|Due diligence (main applicant/spouse)||Processing fee (each applicant)|
|Due diligence (dependant 16 and above)||50% balance of agent fee|
Step 4 (2 – 3 months)
Application processing takes approximately 2 – 3 months, after which immigration authorities shall notify with decision to approve, delay or deny it. In case of success the approval in principal is issued. If an interview is required as a part of this process – applicant will be notified. For the convenience of investors, interviews can be conducted online.
Step 5 (1 – 2 months)
After the approval in principal is issued main applicant is obliged to make an investment into real estate or donate to government account, after which the Certificate of Naturalisation is issued. Remaining government fees must be remitted if applicable.
Step 5 requires:
|Government fee (main applicant/ adult dependant||Government fee (underaged dependant)|
|Government fee (spouse)||Certificate of Naturalisation|