Dominica citizenship by investment

Article Breakdown

Dominica Passport CoverThe Dominica citizenship by investment program was established in 1993. The country is well-liked by investors: between 2017 and 2020, 4,192 Dominica passports were issued. The TLDR for Dominica citizenship by investment is that there are 2 main ways to obtain Dominica citizenship:

  1. By donating $100,000 to the economic diversification fund or
  2. A minimum investment of $200,000 in an approved real estate investment.

The donation option makes the Dominica program one of the most affordable CBI programs in the Caribbean, whereas the real estate investment option gives you the chance to recoup your investment in three years by selling the house.

The investor may apply for this investment citizenship on behalf of their spouse, children, and parents, as well as other immediate family members.

Dominica Citizenship by Investment Program Benefits

  • The Dominica passport provides visa free access to 145 international destinations.
  • Possibility to add dependents after the primary applicant has been awarded citizenship, including a spouse, unmarried children under 31 who are largely dependent on the main applicant, parents, and grandparents 65 years of age and older.
  • Future generations are eligible for citizenship by descent
  • The freedom to work, study, and reside in Dominica
  • Dominica has no limitations on dual citizenship.
  • No necessary length of stay

Dominica Country Landscape Photo

History of Dominica citizenship by investment

The Commonwealth of Dominica, one of the most picturesque islands in the Caribbean, developed its citizenship by investment program in 1993 to encourage investment. Formerly a British colony, Dominica is now a part of the Commonwealth of Nations, the United Nations, the Organization of American States, CARICOM, and other international groups.

The Dominica Economic Citizenship Program was established in 1993 and offers people and families from all over the world an irrevocable second citizenship and passport in just four to six months without the need for travel.

The Commonwealth of Dominica passport offers visa free access or visa on arrival access to more than 145 countries worldwide, including the entirety of the European Union, Switzerland, the United Kingdom, Singapore, Russia, Brazil, and Hong Kong.

The Caribbean island nation has a strong international reputation. Since the Dominica citizenship by investment program is firmly established in the law and local law does not prohibit the possession of two nationalities, acquiring a second citizenship through investment in the nation is a private procedure that does not call for renunciation of the first citizenship.

Dominican citizenship requirements through investment

Rounded Dominica Flag IconSingle applicants may select from the following two methods to meet the requirements for investment citizenship under the existing regulations:

  • A $100,000 nonrefundable donation to the Economic Development Fund
  • A $200,000 real estate investment that has been approved for the Dominica citizenship by investment program.

The Commonwealth of Dominica citizenship by investment program has no physical residency requirements, and there is no necessary interview. It also has no language, age, or business experience criteria.

The parliamentary democracy-run, economically stable nation has one of the highest standards of living in the Caribbean, no taxes on non-citizens, the lowest crime rate in the whole area, and arguably one of the world’s most breathtaking natural landscapes, including verdant green mountains, countless unpolluted rivers and waterfalls, and stunning white and black sand beaches.

UPDATE: The price of Dominica citizenship won’t change after 2021. The minimum cost of a Dominica passport would have increased by 75% to $175,000, considerably raising the financial requirements for the Dominica citizenship program.

Dominica Citizenship by Investment Program steps and timeline

Dominica Coat of ArmsThe Dominica citizenship investor program is defined by legislation in Section 101 of the Dominican Republic’s Constitution and in Sections 8 and 20(1) of the Citizenship Act, which grants eligible individuals rapid citizenship through a Certificate of Naturalization.

The Dominica Citizenship by Investment Unit (CBIU), a recently established government agency inside the Ministry of Finance, is the regulatory body that guarantees only deserving applicants are accepted and is responsible for enforcing all rules under the Dominica citizenship program.

The main candidate must be at least 18 years old and satisfy all of the requirements for immigration to Dominica listed below in order to be qualified.

An oath of loyalty must be taken by the applicant and their family in front of a certified notary, justice of the peace, or commissioner of oaths. Following the oath of allegiance, the citizenship application is processed further, and the required citizenship certificates are issued.

There is no need for a physical address. However, the government actively promotes increasing economic participation among its populace, offering generous incentives to make doing so a desirable alternative.

The chosen candidate has the freedom to live in Dominica whenever they want and for whatever long they want. Any applicant who has previously been unsuccessful in obtaining a visa from a country with which Dominica has a visa-free travel agreement must subsequently succeed in obtaining a visa from that country in order to be eligible to apply.

Future spouses of those who received citizenship through the Dominica Citizenship by Investment Program are eligible to petition for citizenship, however there are additional costs involved. Children of those who became citizens through the program who were born after obtaining their citizenship may register for citizenship at any time.

The Ministry of Finance’s Citizenship by Investment unit, a specialized government agency in charge of the program’s administration, processes applications. Currently, it takes three months to process an application from the moment it is received with all required information.

Through this scheme, a number of Dominica passport requirements must be satisfied before obtaining citizenship and becoming a Dominica citizen.

  • The foreign investor: Has to be of legal age.
  • possess a wonderful character.
  • be in great health.
  • have a clean criminal record.
  • pass a thorough background investigation.
  • have a working understanding of English.

Dominican Citizenship through Investments

A candidate for Dominican citizenship by investment must either make a sizeable economic contribution through a financial donation to a government fund or buy authorized property on the island.

In both situations, the applicant must formally agree to make the investment before submitting an investor program application, but they are not required to make the complete payment until after receiving a general permission.

Government fund contribution

Throughout an effort to advance national development and assist the social advancement and financial security of the island nation, the Dominica Economic Diversification Fund (EDF) provides funding for public and private sector projects in the nation. Renovating the neighborhood hospital, creating new schools, developing a national sports stadium, and promoting the offshore industry on the Island of Dominica are some of the public sector projects that the fund has chosen for funding.

The fund primarily supports projects in the private sector that advance the country’s tourism, agriculture, and information technology industries.

The following government fees and non refundable contribution to the Economic Diversification Fund must be paid in order to be eligible for Dominica citizenship by investment under this option:

  • Single applicant: US $100,000
  • principal candidate and spouse: $150,000 USD
  • $175,000 for the principal candidate, spouse, and up to two kids.
  • Additional dependents: $25k per person
  • 18 to 25-year-old eligible siblings: $50,000 each

Compared to other citizenship via investment countries in the area that issue equivalent passports, these government fund contribution levels for the Dominica Economic Diversification Fund are much lower.

No other respectable investor citizenship program has such reasonable investment requirements as the Dominican Economic Citizenship Program, making Dominica the most affordable citizenship by investment program in the world.

In 2021 or 2022, the government fee to become a citizen of Dominica will probably rise significantly, bringing the cost more in line with other Caribbean citizenship programs.

After receiving an Approval in Principle letter from the CBIU, candidates applying under the government contribution option must consent to pay the full sum stipulated by the program within 30 days.

However, the applicant is not obligated to actually make the contribution until after the due diligence stage and after official approval in principle. Donations for a Dominica passport are sent into a designated government escrow account at the National Commercial Bank of Dominica after officially gaining conditional CBIU permission.

Within one month of the rejection or withdrawal of an application, the candidate will receive their whole deposit payment back, less a nominal application charge.

If the application is approved and you are granted citizenship, the government won’t release the funds from the escrow account until the principal applicant and their family have received passports and a naturalization certificate, which must be signed in front of a notary public.

Real Estate investment

One of the most stunning islands in the Caribbean, Dominica boasts pristine natural beauty with emerald green mountain sides that descend to magnificent coastlines and the temperate Caribbean Sea.

The island is home to 365 rivers, one of the world’s most thermally active “boiling lakes,” numerous outstanding hot springs, and an abundance of coconut trees and vibrant tropical flora.

The number of visitors to Dominica each year is growing as more and more people learn about the incredible hiking, diving, bird watching, and other ecotourism activities available on the volcanically active island.

Foreign ownership of real estate in Dominica has grown significantly during the past few years, growing alongside the tourism sector. Due to the island’s natural beauty and calm way of life, an unprecedented number of Americans are moving there to retire. Additionally, businesspeople from all over the world, particularly those from China, Russia, and the Middle East, are strategically investing in Dominica’s luxury resorts through the Dominica citizenship by investment program.

An applicant must purchase authorized real estate in the Dominican Republic with a minimum investment of USD $200,000 and keep ownership for at least three years in order to be eligible for Dominican citizenship under the real estate investment.

Under the citizenship by investment scheme, the applicant may resell the property after five years of ownership. When submitting an application for the Dominica CBI Program under the real estate category, the following government fees and application costs are required:

  • Single applicant: $25,000 USD
  • Spouse: $10,000 USD
  • Family of up to 4: $35,000 U.S.
  • $50,000 USD for a family of up to six
  • $70,00 for a family of seven or more
  • Additional dependents: $25k per person
  • 18 to 25-year-old eligible siblings: $50,000 each

Several government approved real estate developments permitted by the Commonwealth of Dominica citizenship program are going on right now.

Economic citizenship applicants need to pay a 10% down payment on the property and sign a sale and purchase agreement to formally secure an interest in a Dominican resort project in compliance with CBIU laws.

The investor has seven days to settle the remaining investment balance after receiving an in-principle approval for Dominica citizenship. At that point, he or she will be given an Ownership Certificate.

The authorized real estate investment conditions are then formally proven to have been fully met by presenting this certificate to the Dominica authorities. According to the developer’s income and capital gain projections, buying fractional ownership in a Dominica resort project accredited by the citizenship program is quick and simple, requires no maintenance or upkeep on the part of the investor, and is typically expected to return enough money after five years to cover both the capital invested and all fees initially paid.

A foreign national is qualified to get full, legal citizenship in the Commonwealth of Dominica for themselves and their family after prudently meeting all of the aforementioned requirements.

Applicants are awarded a Certificate of Naturalization and will receive their new passport by courier within a week after their application has been approved by the Dominican government. Once a person has acquired Dominican citizenship, they are able to pass it down through their lineage to next generations.

Dominica Citizenship Program Administration

The Department of Finance in Dominica has a separate office that deals with all issues relating to economic citizenship, including managing and deciding on applications, enforcing rules, and marketing the program abroad.

The Dominica Citizenship by Investment Unit (CBIU) is responsible for handling all nationality applications, and its director and senior examiners have the final say about all decisions.

Tax implications

If you decide not to live there during your citizenship by investment initiative, Dominica is a tax-free nation. This is another appealing reason to obtain Dominica citizenship.

Taxes on worldwide income are necessary if you want to establish a basis in your new place of citizenship for six months or longer.

Additionally, Dominica and the US and CARICOM have double taxation agreements. In other words, there are no limitations on remitting profits or importing capital. Furthermore, there are a number of business tax breaks, a complete import duty exemption, tax relief advantages, and export allowances. Dominica also provides extensive tax holidays and other exemptions from import taxes and duties.

Who is eligible to apply for Dominica’s citizenship program?

An Authorised Agent processes each application. On behalf of the applicant, Authorized Agents prepare each application for Dominica citizenship, which is then evaluated by the Dominican government (CIU).

Three months is the typical processing time between filing an application for the Dominica citizenship program and learning the results.

Applications must be accompanied by the required fees and supporting documentation in order for the Unit to process them.

The Unit will inform the designated agent that the qualifying investment and necessary government administration costs are due before the Certificate of Registration can be issued in cases where an application for citizenship by investment has been approved.

Successful candidates are given Dominica citizenship and are eligible to apply for a passport after providing documentation of their investment.

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