Dominica Citizenship by Investment

Dominica Citizenship by Investment

ABOUT DOMINICA

Dominica is one of the Caribbean island nations. It has many natural hot springs and tropical rainforests. It is a member of the common-wealth since 1978. It has rich alluvial and volcanic soils. Dominica has many rivers and high forest clad mountain ranges. Dominica’s forests are home for many different species of plants and animals. The population in Dominica is mostly of African descent. The official language of Dominica is English although, French is also widely spoken. Its economy is dependent on Agriculture, forestry and fishing.

Citizenship by Investment within 2 months

Qualified eligible interested professionals, can apply for Dominica Citizenship by Investment Program. Such individuals should have already proved themselves in the market. Such citizenship, can be extended to the applicant’s spouse and children too. Interested applicants will have to invest in either in the Government approved real estate of Dominica or in the country's fund for development. Citizenship is usually for life time, which can be passed on to the future generations of the applicant through naturalization. The biggest take away from this program, is that the applicant unless relocating need not pay any kind of taxes for his income either in Dominica or rest of the world in Dominica.

Taxation of New Citizens

Under this program, the Dominican citizen is not liable for any kind of tax from income earned in or outside of Dominica. New Citizens are exempted from tax on wealth, inheritance or capital gains.

Through this program, the applicant is eligible for Dominica’s Passport which allows the applicant to travel visa free to 113 countries which include, Schengen space, UK, Hong Kong and Singapore

The Dominica Citizenship Investment Program was ordained in the year 1993. It is based on the section 101 of the constitution of Dominica and section 8 and 20(1).

BENEFITS

• The whole process gets completed in exactly 2 months’ time.
• This program is extended to your family members
• You can travel to 113+ countries Visa free
• Your citizenship with Dominica will not be revealed to your country of origin and hence you could maintain dual-citizenship
• The whole process with be confidential
• The taxes in Dominica are bare minimal

Eligibility

• You must be 21 years and above
• You must not have any criminal record
• You will have to either
• make a donation to the Economic Diversification Fund of US $100,000 if you are a single applicant or
• if applying along with your spouse, then you make a minimum investment of US $ 175,000
• if applying, along with your spouse and 2 children who are under the age of 18, then you need to invest US $200,000
• families with more than 2 children, must invest an extra US $25,000/- for every additional dependent
• You will need to invest in a Government approved real estate which has a minimal value of US $200,000. This said property is eligible for resale after 5 years from the date of purchase

Process and Timeline

• It takes 1 month for the preparation of the documents and online application
• The processing time is 2 months. During which the Dominican authorities review the application, check your source of funds and carry out the due diligence checks
• After which, you have to comply with the rules. You need to make your donations or purchase a real estate property
• Followed by that, you receive your Citizenship Certificate