Dominica
Dominica is a 751 sq.km island nation in the eastern carribean. The economy is primarily agriculture based and Roseau is the capital city. The currency is EC$ and the country has both tropical humid and wet rainy seasons.
Dominica has an “Economic citizenship by investment” program which allows granting citizenship to those who make a contribution to the development of the country. Still Dominica is the only country where you can get a second citizenship, is more affordable and cheaper compared to other economic citizenship programs offered by other countries in europe or carribean.
Citizenship by Investment Program
Dominica directly offers full life citizenship to investors without any prior residency requirement. With dominica passport, you can travel visa free to over 80 countries including the UK and common wealth country. For schengen states or travel in US, usually visa is needed. There are no capital gains, inheritance, gift or wealth taxes in dominica. Unless you live in dominica, there are no income taxes on your worldwide earnings.
Under the citizenship program you will need to make small non-refundable investment of
1. Single Applicant: a non-refundable contribution of USD 100,000 is required
2. Main Applicant and Spouse: a non-refundable contribution of USD 175,000 is required
3. Applicant with up to three dependents (Applicant plus spouse and two children below the age of 18): a non-refundable contribution of USD 200,000
4. Applicant with up to four dependents or more (Applicant plus spouse and more than two children below the age of 18): a non-refundable contribution of USD 200,000 (plus USD 50,000 for each additional dependent).
In addition, to the above, there are also additional charges..
- Government charges – approx. US$ 2,200 per applicant (processing, agent and registration fees)
- Due diligence fee – Approx between US$ 5,000 to US$ 10,000 apply.
It takes about 6-14 months of processing time to get the passport and citizenship. The dominica passport is valid for 10yrs and the government allows dual nationality and does not report your citizenship to other countries.
Real Estate Investment
USD 200,000 minimum real estate purchase with additional Government fees such as
- USD 50,000 for the Main Applicant
- USD 25,000 for the Spouse
- USD 20,000 for each dependent of the main applicant under the age of 18
- USD 50,000 for each dependent of the main applicant aged 18-25 years.
Restricted countries: If you are a citizen of Pakistan, Saudi Arabia, North Korea, Yemen, Afghanistan, Sudan, Somalia – you cannot apply for this program.
The government has a mandatory requirement for the applicant to appear for personal interview in Dominica. The documentation required is extensive and paperwork with the govt is quite cumbersome with the government and we assist our clients with this.