By far the least expensive and quickest processing citizenship program in the world is the Commonwealth of Dominica Citizenship by Investment Program. In the event you are interested in having second citizenship with a second passport Dominica’s Citizenship Program is the one you must look at.
Since Dominica is a Commonwealth Nation and a former British Colony, citizens of Dominica enjoy special privileges in the United Kingdom of Great Britain & Northern Ireland including visa free entry and can travel to a host of other countries, over 100 of them, including Switzerland without the need for a Visa.
Roseau, overlooking Woodbridge Bay on the southwestern coast, is the capital and chief port. It has a forty-foot draught and can handle 20 to 40 foot containers serviced by roll on/roll off facilities. Cruise ships dock here on the Ferry Terminal in the Capital City of Roseau and at Portsmouth in the northwest on the Fort Rupert Bay.
Also there is no need for Citizens of Dominica to acquire a visa prior to embarking on a voyage to the Schengen Countries in Europe. As a Dominican you can go to anyone of the countries visa-free.
|They must make “a payment into the National Transformation Fund;” or|
|They must make “a payment towards an approved project in Grenada”|
The National Transformation Fund (NTF) was established under section 43(1)(a) of the Public Finance Management Act Cap 262B, and is responsible for funding Government-sponsored projects in Grenada. ‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as “a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee.”
The following relevant legislation is also essential to understanding the Grenada’s Citizenship by Investment Programme: The Government of Dominica views the Citizenship by Investment Programme as one component of its National Capital Mobilization Program geared towards its ultimate goal of national development. Hence, the reason for the Government added dimension of the Direct Real Estate Investment Program as a second new limb of the Program. In this option, the invested sum is channeled to some private sector approved project with enormous employment potential.
Let’s explore why Dominica’s Citizenship ought to be your Second Citizenship.
Once citizenship of Dominica has been granted you will automatically become entitled to and enjoyed all the rights and privileges as any Dominican citizen. You will have the right to live and work in Dominica at any time. As Dominica is a member of CARICOM, you can also live and work in any other Caricom member state. With a Dominican passport, you can travel visa-free to over 115 countries, including the UK, Europe, Singapore and Hong Kong.
Dual Citizenship is allowed and citizenship is extended to your spouse, dependents children and dependent parents. Additionally, there is no requirement to reside in Dominica before or after citizenship is granted.
The application process is confidential, with no disclosure or exchange of information, except where necessary checks are to be carried out by an authorized due diligence agency.
Dominica has been named as one of the world’s happiest places to live. Boasting a high number of centurions (people who have lived to be older than 100 years), it offers an easy lifestyle within a safe, peaceful and pristine environment with a culturally vibrant and friendly community. The “Nature Island of the Caribbean” as Dominica is commonly referred to is a green tropical paradise and one of the most beautiful islands in the Caribbean.
It is practically untouched nature with countless rivers and waterfalls, and emerald green mountains dropping dramatically into the turquoise sea. Dominica hosts the world’s second-largest hot spring, Boiling Lake and features lush, mountainous rainforests, which are home to many rare plant, animal, and bird species. Dominica’s clear and calm oceans offer excellent opportunities for diving and snorkeling and have spectacular dive sites including shipwrecks and even underwater hot springs.
In 1998, Dominica’s Morne Trois Pitons National Park was designated a World Heritage Site by UNESCO. Since 1997 Dominica has actively participated in the work of Green Globe to develop a model for ecotourism within Dominica.
There is no wealth, gift inheritance, foreign income, capital gains or property tax. You are only liable to pay personal income tax if you reside and earn income in the country. Dominica is signatory of double taxation treaties with the USA and CARICOM. There is no restriction on the repatriation of profits and imported capital. Generous incentives, full exemption from import duties, tax relief benefits and export allowances. Currency is pegged to the US Dollar adding to the advantage of duty free trading in the Caribbean.
Becoming a citizen of Dominica guarantees you greater ease of international travel, including to the United Kingdom, Singapore, Malaysia, Hong Kong and Europe. Moreover, the Government of Dominica has provided a number of fiscal and other concessions which aim to make doing business in this island paradise even more attractive.
These include generous tax holidays, import duty and tax waivers, and streamlined processes. For more information see www.investdominica.com. Successful applicants can benefit from visa-free travel to over 115 countries.
Now you are satisfied that your second passport should be Dominica’s passport, you should now look at the various investment options available to you in acquiring your citizenship.
The applicants/investors and their families who participate under the Dominica’s Citizenship by Investment Program will benefit as follows: -
|Citizenship for life, including an unlimited number of eligible dependents, passed down to generations (applicants are not required to visit or reside on the island).|
|Passports are issued in approximately 90 days of filing the application.|
|Dual citizenship is permitted without the requirement to notify the applicant’s home country.|
|Generous tax regime – no wealth, gift, inheritance, foreign income, capital gains tax or property tax.|
|With the currency pegged to the US dollar, a favorable business development environment.|
|Visa free travel to over 140 countries including the United Kingdom, Hong Kong, Singapore, Ecuador and many others. Visa Free travel to all Schengen Countries in Europe.|
|Full residency status and the right to work in Dominica.|
Additional Investor Benefit When Invest In Real Estate Government Approved Project
|Certificate of Naturalisation plus passport.|
|Shareholder in a real estate ownership company at an attractive Hotel development & Resort.|
|Opportunity to own interest in condominiums, villas resort within a hotel structure.|
|Residency rights in villas, condos.|
|Unique ability to travel visa free to over 130 countries including UK, Schengen Countries, Hong Kong, Singapore, European Union, the|
|Commonwealth of NationsIt is an evolving list with the Ministry of Foreign Affairs regularly negotiating with additional countries to expand Dominica’s visa free travel partners.|
|Safe and secure Based on Dominica’s law, the social and political life in Dominica is stable and very appealing. Dominica is a member of the United Nations and the Commonwealth of Nations.|
Citizens of Dominica, through its membership of the Commonwealth, enjoy preferred access and occasionally secure grants to many top schools and universities in the United States and United Kingdom. Dominica is home to Ross University School of Medicine, and All Saints University – American Medical Schools, where Dominicans receive substantial discounts and grants for attendance. Your children could become eligible to attend.
Business Advantage & Taxation
An investment into one of the government approved projects - Bois Corlette, Mero Beach Development, Tranquility Beach, Kempinski Hotel, etc comes with many tax concessions including no income tax and no capital gains tax. As a result of participation, investors will also have many other opportunities to invest in Dominica on favourable terms.
Transfer of Asset
Dominica has an excellent banking system through our National Bank and the Eastern Caribbean Central Bank and some of the international banks who have branches in Dominica.
No Exchange Control
There is no exchange control on the inflow and outflow of money.
Main Advantages for investors in Dominica
|Very safe and friendly country.|
|Quick & efficient acquisition of Dominica citizenship.|
|Valid passport in Europe, Schengen Countries, Commonwealth of Nations, Hong Kong, Singapore…|
|Visa-free entrance in over 140 countries; holder of citizenship in a country that is a member of the Commonwealth of Nations, Caricom, Caribbean Economic Community, Organisation of Eastern Caribbean States.|
To be eligible for citizenship of the Commonwealth of Dominica under its Citizenship by Investment Programme, the Government requires either: A contribution made into the Government Fund; or an investment in a designated Real Estate Approved Project
The Government Fund, named the Economic Citizenship Diversification Fund, was established through the economic citizenship programme as one component of a national capital mobilization portfolio towards the ultimate goal of national development for Dominica.
Funds generated are utilized for public and private sector projects where a need is identified. Public sector projects identified for financing under the programme includes:
|Building of schools|
|Renovation of hospitals|
|Building of a National Sports Stadium|
|Marketing and promotion of the Offshore Sector|
With respect to private sector projects, government emphasis is on tourism, information technology and agriculture. Public sector projects to be financed under the programme will fall within one of these sectors.
ETo qualify for citizenship under the donation option or real estate investment option and satisfied the requirements. There are four investment categories with different contribution amounts.
The contribution amount depends on the number of dependents included in the application, which are as follows:
|Single Option: A non-refundable contribution of USD $100,000.|
|Family Option 1: [Applicant + Spouse]: a non-refundable contribution of USD $175,000.|
|Family Option 2: [ Applicant + Spouse+ Two Children below the age of 18 ]: a non-refundable contribution of USD $200,000.|
|Family Option 3: Applicant with four dependents or more [Applicant + Spouse + more than two children below the age of 18] : a non-refundable contribution of USD 200,000 for the family of four + USD$50,000 for each additional qualifying dependent.|
In addition to the contribution made into the Government Fund, there are certain small associated fees including the cost of the due diligence fees and passport.
REAL ESTATE INVESTMENT OPTION
To qualify for Dominica’s Citizenship under the Real Estate Investment Option, an applicant must invest the minimum of US$200’000.00 in an approved real estate development project.
Following approval of your real estate investment application, the following Government Fees becomes payable:
|USD $50,000 for Main Applicant.|
|USD $25,000 for the Spouse of the Main Applicant.|
|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.|
The real estate must be held for 3 years and may be eligible for resale under the Citizenship by Investment Programme after 5 years from the original purchase date.
Other Applicable Fees
In addition to the minimum required investment contribution in the donation option, or minimum investment into the real estate investment option the following other related fees are also payable:
|AProcessing Fee: USD$3,000 per application|
|Certificate of Naturalisation: USD $750 per person|
|Due Diligence Fees described below|
Though not a necessity to obtaining your citizenship, you should nevertheless get to know the home of your second country.
Dominica has two airports: Douglas-Charles (DOM) and Canefield (DCF) Airports. Douglas-Charles was originally known as Melville Hall airport and is the bigger of the two. Most visitors to Dominica will arrive through this airport which accommodates commercial airlines.
Canefield Airport, located 15 minutes from the Capital City of Roseau, is only 3,100 ft long and is suitable for chartered flights and private jets. Douglas Charles which is located in the north-eastern side of the island is approximately one hour drive from the Capital. International flights from the US and Europe are connected to the island through hubs in Antigua (ANU), Barbados (BGI), St. Maarten (SXM), Puerto Rico (SJU), Guadeloupe (PTP), and Martinique (FDF).
Every year, hundreds of thousands of visitors arrive on the island from cruise ships berthed at Woodbridge Bay, Roseau Cruise Ship Berth, and Cabrits Cruise Ship Berth. Captains of yachts and sailboats can also anchor their private yacht at any of the island’s official ports, but is required to check in with customs and immigration on arrival.
It’s very easy to travel to Dominica from South-East Asia through North America, Europe and Canada on either Cathay Pacific, China Eastern, Emirates, Air China, AA, Delta etc.
Air service to Dominica from North America and Canada is provided by American Airlines, Jet Blue, Delta, Air Canada, and a host of other airlines through the hubs of Puerto Rico, Barbados and Antigua, with connecting flights on Sea Borne, Winn Air or LIAT to Dominica’s Douglas-Charles Airport.
From Europe, tourists travel British Airways, Virgin Atlantic, KLM Airlines, Lufthansa and others to Antigua, St. Maarten or Barbados and then connect on LIAT Airlines to Dominica.
Tourists also take Air France to neighbouring French islands of Martinique and Guadeloupe for connecting with LIAT flights from Point-a-Pitre and Fort De France to Dominica or travel by sea for two hours on the Ferry, l’Express d’Esiles, seeing the beauty of the luscious green Dominica as you enter its Capital City of Roseau.
For more information about Dominica's Citizenship Program, please do not hesitate to contact us.