One of the Most Affordable Citizenship by Investment Programmes
DOMINICA (COMMONWEALTH): CITIZENSHIP BY INVESTMENT
Dominica is an independent Commonwealth country situated in the Caribbean and forms part of the CARICOM. Not to be confused with the Dominican Republic, the country is an independent island state located between the French Islands of Martinique and Guadeloupe. Its name means Sunday.
Dominica was originally inhabited by the Kalinago and later colonised by the French. Great Britain took over in 1763 and established English as the official language. In 1978 the island republic gained independence.
The aim of the citizenship by investment (CBI) programme is to generate foreign investment through capital and real estate investments and in exchange offer investors citizenship and a passport.
A Dominican citizenship offers investors visa-free travel to over 140 countries, including the Schengen zone countries, Hong Kong, Russia and more.
Applicants and their families are granted full citizenship in exchange for either making an economic contribution to the country or investing in an approved real estate project, as set out by the Government.
Please contact us to speak to a private client adviser: info@lio-global.com
BENEFITS
Visa-free travel to over 140 countries including the Schengen Countries and Hong Kong.
Citizenship and passport in 3 – 5 months.
Beautiful properties and resorts to choose from.
Freedom to sell property after 3 years and 5 years if to another citizenship investor.
Dominica is a tax friendly jurisdiction.
INTERESTING INFORMATION
Citizenship and passport within 3 – 5 months
OFFICIAL LANGUAGE
English, Dominican Creole French
MEMBERSHIP
Caribbean Community (Caricom), Organization of Eastern Caribbean States, ICC
CAPITAL
Roseau
CURRENCY
Eastern Caribbean Dollar (XCD) – linked To USD
POPULATION
72 324 (2016 est.)
TOTAL AREA
750 km² (790 sq mi)
DRIVES
On the left
INVESTMENT REQUIREMENTS
The Dominican citizenship programme requires the investor to make an economic contribution to the country as well as meet certain other requirements.
Investors (and their families) who wish to apply for Dominican citizenship by investment must meet one of the following two investment requirements:
Purchase of real estate with a minimum value of USD 220 000 in an approved real estate development
Evidence of ownership needs to be provided of a property purchased for a minimum of USD 212 000.
If the applicant opts for the real estate option, they may not sell the property within a 3 year period. After this period they are free to either keep or sell the property. If they would like to sell the property to another citizenship investor, they must keep the property for 5 years in order for that investor to qualify for citizenship.
Donation to the Government Fund:
- Non-Refundable Minimum Contribution to the Dominica Economic Diversification Fund (EDF) of USD 200 000 for a single applicant
New information will be published in our newsletter and updated on our website as soon as it becomes available.
REQUIREMENTS FOR CITIZENSHIP
To qualify for citizenship, applicants must meet the following requirements:
The main applicant is required to be over the age of 18 years’ old.
The applicant will undergo strict due diligence and must not have a criminal record.
Be in excellent health and have a high personal net worth.
Applicants and their families are required to take an Oath
of Allegiance before an authorized Notary.An online interview is required.
CITIZENSHIP
Dominica allows dual citizenship.
The legal framework of the economic citizenship programme allows for the investor and his/her family to obtain citizenship provided they follow the specified requirements.
There is no residence period, the investor acquires citizenship and his/her passport directly.
The application process takes 3 – 5 months.
TRAVEL AND BENEFITS
A Dominican passport allows the holder to travel to around 143 countries and spend a maximum of 90 out of every 180 days in any of the Schengen zone countries.
Some of the popular countries that a Dominican passport allows the holder visa free travel to include: Schengen zone and many of the Commonwealth countries.
FAMILY
Dominica allows the main applicant to include his/her family:
Spouse, dependent children under 31, unmarried siblings under 26, dependent parents and grandparents.
TAX
Citizens are only liable for tax if they reside in Dominica and are taxed on their world wide income whether accrued directly or indirectly. Personal income tax is taxed at progressive rates up to 35%.
There are no property taxes, only a municipal tax, which varies depending on the district. Usually this is around 1.25% of the value of the property.
Non-resident companies are taxed on the gross amount of source based income and are liable to withholding tax of 15%. Resident companies are taxed at a flat rate of 30%.
Please note that taxes may change since date of publishing and we highly encourage clients to meet with a professional tax consultant.
FEES
In addition, the Government charges the following fees:
Government Due Diligence Fees
USD 7 500 – Main Applicant / spouse
USD 4 000 – Unmarried dependents (age >16)
USD 750 – Certificate of Naturalisation Fee incl. stamp fee
Government Fees
USD 50 000 – Government Fee – main applicant
USD 75 000 – Government Fee – Family of up to 4 people
USD 25 000 – Government Fee – additional dependent
In addition, professional fees will also be due. This will depend on the size of family and number of applicants.
Please contact us for a personalised proposal: info@lio-global.com
PROCESS AND TIMELINES
The Dominican citizenship by investment programme adheres to very strict regulations and guidelines. The Citizenship By Investment Unit (CBIU) is the government authority responsible for the administration of the citizenship programme as well as processing all applications.
Before the submission of an application to the Government of Dominica, strict and comprehensive due diligence will be done and a medical certificate is also required to confirm that the family is in good health and not suffering from any serious or contagious illnesses. The CBIU will examine the applications closely and may sometimes request an interview with the applicant, although this occurs rarely.
Once all steps and requirements have been achieved and the application is approved, the applicants can collect their passports.
DOMINICA (COMMONWEALTH) - COUNTRY INFORMATION
The Commonwealth of Dominica is an island nation in the West Indies, in the Leeward Islands in the Caribbean Sea. Dominica means Sunday and its nickname is “Nature Isle of the Caribbean”. Dominica boasts 148 km of coast line. With beautiful beaches and tropical scenery, Dominica is famous for its unspoiled natural beauty.
The parrot on the Dominican flag, the Sisserou parrot, also known as the imperial amazon, is the country’s national bird and is only found on Dominica.
CONTACT US TO MEET WITH A PRIVATE CLIENT ADVISOR: info@lio-global.com or complete the form: Here
RESOURCES
Government of Dominica: http://dominica.gov.dm/
Dominica Tourism: https://discoverdominica.com/en
