Dominica’s Citizenship by Investment (CBI) program enables foreign individuals to acquire the country’s citizenship by making a qualifying investment in the Caribbean country. Known as the Dominica Golden Visa or the Dominica Economic Citizenship Program, it was instituted under Section 101 of Dominica’s Constitution, with additional legal support in Sections 8 and 20 of the Dominica Citizenship Act.
This initiative was introduced by the government to attract foreign investments and promote economic growth through various private and public sector projects in 1993. If you are interested in getting citizenship through investment in this Caribbean country, read on and get detailed insights on the different investment channels, eligibility criteria, and requirements, and understand the benefits of a seamless transition to Dominica.
Dominica Citizenship Investment Options
| The Dominica citizenship by investment program has consistently ranked as the top choice for citizenship in the Caribbean, according to the CBI Index. Contributions commence at $100,000, with the opportunity to obtain a Dominica passport typically within six to nine months. |
In order to qualify for Dominica citizenship, you need to choose one out of the two available investment options, which include:
1. Dominica Economy Diversification Fund (EDF)
The Dominica Economic Diversification Fund (EDF) is a government fund established to support socio-economic initiatives in Dominica. Contributions to the EDF help finance public and private sector projects, such as building schools, hospitals, and infrastructure, as well as promoting tourism and agriculture.
2. Minimum EDF Contribution Requirements
To qualify for Dominican citizenship through the Citizenship by Investment Program, applicants must make a non-refundable contribution to the EDF. The amount required for the contribution depends on the number of dependents included in the application. Dependents are individuals who rely on the main applicant as their primary source of income, including children. This can also include spouses, parents, or other family members who qualify.
- US$100,000 – main applicant
- US$150,000 – main applicant and spouse
- US$175,000 – main applicant and up to three dependants;
- US$25,000 – any additional dependant under the age of 18
- US$50,000 – any additional dependant 18 years of age or older
Apart from this contribution, there are specific additional fees, which include
- Processing fees per application – US$ 1,000
- Due diligence fees-
- Main applicant – US$ 7,500
- Spouse – US$ 4,000
- Dependant aged 16 years or above – US$ 4,000
- Certificate of Naturalisation fee – US$ 500 per person
- Mandatory Interview Fees: if the applicant is aged above 16 they need to pay US$1,000 per interview.
- Passport fees: $500 per passport
2. Pre-approved real estate
This investment route requires a minimum of $200,000 in Dominica government-approved real estate projects. Most options involve purchasing shares in high-end tourist accommodations, such as luxury resorts, hotels, and villas. The properties can be resold after three years or five years if the buyer is also applying for Dominican citizenship. This option also entails government fees, which vary based on the number of family members included in the application.
Minimum Pre-Approved Real Estate Contribution Requirements
Apart from the investment made in property, an applicant must also pay the below mentioned government and additional fees.
– Government fees:
US$25,000 – main applicant
US$35,000 – main applicant and up to three dependents
US$50,000 – main applicant and up to five dependants
US$25,000 – any additional qualified dependant
– Additional fees:
Due diligence fees: $7,500 for the main applicant and $4,000 for all other dependants aged over 16 years
Application fees: $1,000 per applicant
Passport fees: $500 per passport
Oath of Allegiance: $250 per person
Certificate of Naturalisation fee: US$ 500 per person
Eligibility Requirements for Dominica Citizenship by Investment
Section 101 of the Dominica Constitution, along with Section 8 and Amendment 20(1) of the Citizenship Act, legally establishes the investor program, allowing eligible individuals to obtain instant citizenship through a Certificate of Naturalization. To be eligible, the main applicant must be at least 18 years old and have a clean criminal record, good character and health, and must undergo background checks.
Also, according to the official Dominica Citizenship by Investment website (cbiu.gov.dm), applications for citizenship by investment must be processed through registered authorized immigration consultants
How does Dominican Citizenship Differs From Other Caribbean Countries?
1. Investment Options and Requirements
Each country typically offers investments in real estate, government bonds, or a combination thereof. The minimum investment amounts and qualifying properties differ among countries, with some requiring higher investments compared to the Dominican Republic, making it a preferred choice.
2. Family Inclusion
The Dominican CBI program allows for the inclusion of not only the main applicant but also their spouse and dependent children under a single application. In other Caribbean countries, family inclusion policies vary, and additional fees may be charged for each family member.
3. Visa-Free Travel
Citizens of the Dominican Republic have visa-free or visa-on-arrival access to over 130 countries and territories, including the Schengen Area and the United Kingdom. Visa-free travel privileges also apply to citizens of other Caribbean CBI countries, with varying degrees of access to different countries, which is usually lower than that allowed in Domnician citizenship.
4. Speed and Efficiency of Processing
The application process for Dominican citizenship is known for its efficiency and relatively fast processing times, often completed within a few months compared to other Caribbean countries.
5. Taxation Considerations
The Dominican Republic offers favorable tax conditions, including no wealth, inheritance, or gift taxes on assets located outside the country for newly naturalized citizens. This is a significant advantage over taxation policies in some other Caribbean countries.
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