The Dominica Economic Citizenship program offers citizenship to both families and individuals for an investment. This program was enacted in 1993 by law and can only be processed through agents that have been approved by the government.
The main reason it was implemented was to help the country’s economy. It is part of Dominica’s development plan, and the revenue that this program brings is used to channel local projects and struggling or stagnant programs.
Why choose Dominica?
This beautiful island is located between Guadeloupe and Martinique, which are both French territories. It is known as the Caribbean’s Nature Island for a reason. Boasting the largest boiling lake in the world, waterfalls galore, National Parks, and 365 rivers, this island is an incomparable beauty. This is the perfect place for any international business, as Dominica has perfect weather 365 days of the year. Also, for those that apply for the Economic citizenship successfully, legitimate and fast passports and citizenship are granted by Dominica.
4 ways through which you can become a Dominica citizen
- Through your ancestry: If both or any one of your parents was born in Dominica, you will automatically be granted a citizenship.
- Your birthplace: If you’re born in Dominica, you automatically become a citizen.
- By registering: If you’ve married a citizen of Dominica and have lived in the country for 5 years, or if you’ve been living in Dominica for more than 7 years, then you can apply for citizenship by registering for it.
- Through naturalization: This refers to getting a citizenship through other ways besides the ones already mentioned, the Economic Citizenship program and investing in real estate being examples of that.
Map credit : http://www.freeworldmaps.net/centralamerica/dominica/
Advantages of having a Dominica Passport and citizenship
- You invest your money after the application has been approved.
- You’re allowed to legally change your name.
- You won’t have to denounce your other citizenship, as dual citizenship in Dominica is allowed.
- You won’t need to reside in the country in order to become a citizen.
- You can travel freely; if you have a Dominica passport, you will not be persecuted because of your nationality, as Dominica is an island nation which is both economically and politically stable, as well as uncontroversial.
- Those that become naturalized citizens have the same rights as other citizens in Dominica.
- Having Dominica as your second citizenship would mean that any revenue that you may generate outside of the country would be free of taxes, meaning that it will neither be subjected to inheritance nor capital gains tax, making this a great legal way to decrease your taxes.
- The citizenship program is affordable.
- You will have a better choice of places to settle in.
- With a Dominica passport, you will be able to travel to more than 100 countries, visa free, and for the countries where visas are necessary, they can be easily obtained within only a day. The countries that you can visit without a visa include Hong Kong, Great Britain, Ireland, Switzerland, South Korea, and Liechtenstein.
- The citizenship application process is confidential.
- As a Dominica citizen, it becomes easier to obtain a residential permits in countries such as Switzerland, Monaco, United Kingdom, Andorra, Cayman Islands, other Caribbean countries, Bahamas, and Bermuda, because of the relationships that Dominica has with these countries.
- Once you become a citizen, the citizenship is for life.
- You will feel a sense of security with a Dominica passport, as having a dual citizenship means that you can easily flee the country during economic or political unrests without needing permission.
- You have the luxury to live in over 15 beautiful Caribbean Islands, all of which are part of the states of CARICOM.
Investment options for Economic Citizenship
- Single applicant (married or single): $100,000
- Family application 1 (applicant + spouse): $175,000
- Family application 2 (applicant + spouse + 2 children under the age of 18): $200,000; for every additional family member, an extra $50,000 is required
If, however, you do have a dependent above the age of 18, excluding your spouse, then you will have to pay $50,000 for that dependent.
The amount that the applicant paid is refunded in the scenario that the application is either rejected or withdrawn. However, those applications that are rejected in terms of fraudulent information or false declarations, are forfeited and are not refunded.
Investment through real estate
As of January 2014, another way of obtaining a Dominica citizenship is introduced, which is by investing in real estate. This is an opportunity for investors who are interested in purchasing real estate in Dominica to become its citizen through investment. In that way, not only do you obtain financial returns by investing in a business, but you also get to obtain a second citizenship at the same time.
However, the real estate that you purchase must be government-approved, and this property must also be held for at least 3 years. That stated, if the property was previously owned by someone who was also under the citizenship Program, then it will be eligible to be resold after 5 years.
- Minimum investment: $200,000
- Government fees: The main applicant will has to pay $50,000, while his/her spouse will have to pay $25,000. Also, $20,000 needs to be paid for every dependent below the age of 18. If the dependent is above the age of 18, however, then $50,000 will be required.
There are also other costs that one will have to pay other than the investment fee. And these include:
- Processing fee: A non-refundable cost, it costs $3000 for every applicant.
- Due diligence: This will cost the main applicant $7500. The applicant’s spouse will have to pay an additional $7500, and if they have any dependents aged 16 and above, an additional $4000 will be required per dependent.
These fees are applicable for both the Economic Citizenship program as well as the real estate program.
Applying for the citizenship
Before you begin applying, there are a few requirements that need to be met, such as having a clean personal record. This means that you will need to show a certificate that proves that you have no criminal records, etc. Also, you will need to show a thorough CV, flawless references, and business background information. These are required of every applicant without exceptions.
- Find an authorized agent, as these applications cannot be submitted directly and need handled by an agent instead.
- Your agent should assist you in preparing your documents. You need to submit all the necessary documentations in English. These documents include the official forms and documents of your medical examination.
- The agent then submits the application to the Dominica CBIU. Although there is no requirement for a mandatory interview, it may still be necessary at the government’s discretion.
- Your application will be thoroughly looked into and verified. Your agent will then give you your letter, which will tell you whether or not your application has been successful.
- Only when your application is a success will CBIU instruct you to make the payment for the investment. CBIU will then need a proof of this investment, after which, they will issue a registration certificate.
- Your agent will use this certificate and apply for your Dominica passport.
Once the payment has been made, it is non-refundable. The application’s processing time can take as less as 5 months, or as much as 14 months.
The necessary documentations
- A letter addressed to the Dominica Prime Minister stating your interest and desire in applying for citizenship. 2 completed copies of the application form (notarized) per person.
- Certified birth certificate copies for all family members.
- Certified passport copies.
- Police records from your country of residence and birth (if they are different) for every applicant that is 16 years of age or older. These records should include fingerprints.
- Wherever applicable, your certificate of marriage or of the dissolution of marriage will be necessary.
- 2 personal references.
- 1 professional reference.
- Letter of employment. But if you own a business, then you need a financial statement that is audited.
- A recommendation from the applicant’s banker.
- For children between the ages of 16 and 18, you will need to ask your child’s head of university/ school for a letter of recommendation.
- Recent returns from income tax.
- Detailed business background resume/ reports.
- Each applicant requires 8 passport sized photos.
- Notarized copies of college/university diplomas.
- Statutory declaration.
- Declaration of your main source of income.
- Medical reports.
- Notarized disclosure form.