If you are willing to settle in Dominica, you must know about Dominica Citizenship by Investment 2023.
The Commonwealth of Dominica – one of the most stunning islands in the Caribbean – established its citizenship through an investment program launched in 1993 to give a boost to its investment. Dominica is an erstwhile British colony and a member of the Commonwealth of Nations, the UN, the Organization of American States, and several other global organizations.
Named one of the world’s happiest countries to live in, the Commonwealth of Dominica is home to natural hot springs, tropical rainforests, and a striking steam-covered lake. This nation offers a serene and relaxing lifestyle, which offers an ideal respite from a hectic modern life.
About Dominica Citizenship by Investment
Dominica Citizenship by Investment program is one of the world’s cheapest. One can obtain citizenship by making an investment of $100,000 in the state fund and $200,000 in real estate. The entire citizenship by investment procedure can be completed with a visit to Dominica.
The Dominica Citizenship by Investment program is immensely popular among investors: 4,192 received Dominica passports between 2017 and 2020. The Government of the Commonwealth of Dominica allows investors from other countries to obtain citizenship under certain conditions. It is now one of the longest-running economic citizenship schemes in the world and of course, one of the most reputable. Candidates acquire irrevocable citizenship as well as a passport without having to live in the Dominican Republic or renounce their current nationality.
Advantages of Dominica Citizenship by Investment
Here is a list of some of the greatest advantages of acquiring citizenship in Dominica:
- Travel visa-free or visa on arrival to 143 countries such as European Union, the United Kingdom, and recently China
- The East Caribbean dollar (Dominica’s currency) is pegged to the US dollar at a fixed rate
- There is no global income, dividends, wealth and inheritance tax
- Every family member can obtain citizenship within 15 months
- Offers a fully remote procedure
Who can obtain the Dominican Passport?
The following are the people who can obtain a Dominica passport:
- Your spouse
- The main applicant’s children or of spouse below 18 years of age
- Children 18 years and above with a mental or physical disability and who are significantly supported by the main applicant or their spouse.
- The main applicant’s brothers and sisters are under 26 years of age and are single having no children.
- The main applicant’s parents or grandparents and/or spouse
- The main applicant’s children or the spouse from 18 to 30 who are fully dependent on the main applicant or their spouse
- The main applicant’s biological or lawfully adopted sibling or of the spouse from 18 to 25 years. Single, childless, and completely supported by the main applicant or the main applicant’s spouse.
Also, one can inherit citizenship.
Requirements for Participation in the Dominica Citizenship by Investment Program
|Investor||Above 18 years|
|Children||Up to 30 years|
|Children with mental or physical features||No requirements|
|Parents and grandparents||No requirements|
|Siblings||Up to 25 years|
Documents Required for Dominica Citizenship by Investment
Here is a list of requirements you need to apply for the Dominica Citizenship by Investment program:
- Original Professional Reference Letter (it should not be older than six months)
- Original Bank Reference Letter (it should not be older than six months)
- Financial Statement
- Original Police Clearance Certificate
- Two Personal References
- 8 passport-size photographs
- Evidence of payment of processing and due diligence fees (nonrefundable)
- Professional and academic certificates (if applicable)
- Photograph and Signature Certificate
- Original or Certified copy of Marriage Certificate (if relevant)
- Original or Certified copy of Birth Certificate (if relevant)
- Curriculum Vitae (CV)
- Medical Certificate
- Certified copy of ID Card
- Certified copy of passport
- Statement of Source of Funds
- Evidence of Business Background
Cost of Dominica Citizenship by Investment
The Dominica Citizenship by Investment program offers applicants two investment options to choose from
- From $100,000 – a contribution to the Dominica Economic Diversification Fund (EDF)
- From $200,000 – in villas, apartments, a resort, shares, or a hotel complex approved by the government
Acquiring a Dominican passport is not enough to fulfill the investment condition. Other costs comprise Due Diligence fees, application processing fees, and government fees for real estate investments.
Moreover, the costs of taking part in the program consist of the bank, shipping, notarization, and paperwork fees. The amounts depend on the composition of the family and the required documents. The lawyers of Immigrant Invest and licensed agents of the Dominica Citizenship by Investment program can calculate the accurate cost of participation.
The Dominica Citizenship by Investment Program has been operating for more than two decades. From 2017 to 2020, over 5,800 investors received citizenship in Dominica by investment. And the state earned a whopping income of $1.2 billion.
Requirements for Dominica Citizenship by Investment
The following are the requirements to apply for the Dominica Citizenship by Investment program:
- The age of main applicant must be 18 years or above
- The main applicant is required to prove that they have sufficient funds to invest. They must prove the legal source of funds obtained
- The main applicant and dependents do not suffer from contagious diseases and/or serious health problems
- The main applicant must not be involved in a criminal activity
- The main applicant must not be considered a risk to potential national security
- The main applicant must not be subject to a criminal investigation
- The main applicant must not be involved in any activity, which is likely to cause ill repute to Dominica
How to apply for Dominica Citizenship?
To obtain citizenship in Dominica, you are required to select a licensed program agent. The Agent is a law firm, which has received an official license from the Government of the Commonwealth of Dominica. They are authorized to apply on behalf of the main applicant for Dominica Citizenship by Investment.
Only licensed agents are the ones who can apply for citizenship by investment. Dominica Citizenship by Investment Unit does not accept direct applications.
Immigrant Invest is the only licensed agent for the Dominica citizenship program that has its own compliance department. The Certified Compliance Anti Money Laundering Officer is aware of every program requirement: he rapidly evaluates the risks of failure and proposes an appropriate solution.