Dominica

DOMINICA

Dominica offers one of the cheapest economic citizenship programs in Europe and the Carribean. Added bonus – there is no need to have residency to gain citizenship in Dominica.

Dominica At-A-Glance

An cozy island in the Eastern Caribbean, Dominica’s economy is primarily agriculture-based. Known as the “Nature Island of the Caribbean,” Dominica is a green, tropical paradise.

Featuring a diverse blend of English, French, African and Caribbean people and cultures, Dominica is a politically and economically stable state.

Citizenship Programs

Dominica offers one of the most affordable citizenship-by-investment programs:

Option 1:

The Economic Diversification Fund (EDF) – A non-refundable minimum contribution of US $100,000 + applicable fees (for a single applicant) is made, which is used by the government to fund developmental projects in the fields of education, tourism, infrastructure and agriculture. This cost goes up to US $175,000 for an applicant with a spouse, and US $200,000 for an applicant with up to three dependents (extra dependents may be added at $25,000 per dependent).

The processing fee is US $3,000 per application. And, Due Diligence fees are US $7,500 for a single applicant, US $15,000 for a main applicant with a spouse and US $15,000 for a main applicant with a spouse + US $4,000 for each additional dependent who is 16 or older.

Other fees payable include legal and passport fees.

Option 2 : 

Real Estate Investment – Under the real estate option, applicants are required to invest a minimum of US $200,000 in government-approved real estate that must be held for a minimum of 3 years. However, if an applicant wishes to re-sell their property to another applicant under the program, they must wait at least 5 years.

On top of the US $200,000 real estate investment, a processing fee of US $1,000 per application is applicable, in addition to Due Diligence fees, which are priced at US $7,500 for a single applicant, US $15,000 for a main applicant with a spouse and US $15,000 for a main applicant with a spouse + US $4,000 for each additional dependent who is 16 or older.

Government fees are as follows:

US $25,000 for a main applicant.
US $35,000 for a main applicant and spouse.
US $35,000 for family of up to four persons, including main applicant and up to three dependents
US $50,000 for a family of up to six persons, including main applicant and up to five dependents
US $70,000 for a family of up to seven persons, including main applicant and at least six dependents

Other payable fees include legal and passport fees.

Benefits

  • Offering one of the most affordable citizenship-by-investment programs, another key benefit of the Domnica citizenship program is that you do not have to reside in Dominica before, during or after the application. You may also pass on your citizenship to future generations by descent and maintain dual citizenship. Applicants are offered complete confidentiality – your citizenship status is not reported to third parties. And, there is no interview or English language requirement.
  • Attaining citizenship in Dominica offers you visa-free travel to 115 countries and territories. Furthermore, Dominica safeguards citizens from worldwide income tax, inheritance tax, death tax, real estate tax, and gift tax. Even if you decide to reside in Dominica, there are no direct personal taxes whatsoever. You do not have to have previous business experience, and there are no country restrictions (this includes Iran, Iraq, Afghanistan and Syria).
  • Dominica has a stable real estate market which is expect to grow by up to 2.8% by the end of this year. Foreigners can freely acquire up to 1 acre of land for residential purposes and up to 3 acres for commercial purposes. Rental yields are around 4-5% but can go up as high as 7% in the capital of Roseau around the Castle Comfort and Wall House areas during peak season.

Taxation

  • Although resident individuals in Dominica are subject to income tax on a worldwide basis, there are two noteworthy exceptions which can offer tremendous tax savings
  • Non-resident citizens of Dominica are only liable to pay income tax on Dominican source income.
  • Resident citizens of Dominica not regarded as “ordinarily residents” are subject to taxation on income accumulated outside of Dominica, but only to the extent that any such income is remitted to Dominica.

Application Process

Basic Steps In The Application Process

Step 1

Prepare your application with all of the required documents (see below) and submit our citizenship application

Step 2

The government will process your application and conduct due diligence checks, which could take about three months. Afterward, you will receive approval in principle.

Step 3

Investment in real estate or donate to the EDF.

Step 4

You will receive your citizenship certificate and can apply for your passport.

Documents required for citizenship application (we provide all necessary forms and assistance with documents to our clients)

  • Application form (Form 12).
  • Due diligence form/declaration.
  • Personal information and disclosure forms.
  • Business background information.
  • Citizenship application letter.
  • Passport application form.
  • Birth certificate (certified copy).
  • Marriage certificate (certified copy) or divorce certificate.
  • Professional references(previous 3 years).
  • Medical certificate including HIV-Test (originals).
  • Original certificate of no criminal record or police clearance in countries where the client has lived for 6 months or more. This certificate must be less than 6 months old.
  • Two personal references (originals).
  • Bank references (original, and must have been a client of bank for at least 2 years).
  • Copy of passport or ID document (certified copy) of each person, including children.
  • Twelve (12) colour passport photographs of Each person, including children.

Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

REGISTER




Properties


CITIZENSHIP PROGRAM

For the Citizenship-by-Investment Program, the Government requires the applicants to choose one of two options:

For a period of 12 months, effective September 1, 2017 the new fees applicable to the The Economic Diversification Fund & Real estate option are as follows:

Option 1 : The Economic Diversification Fund (EDF)
A non-refundable minimum contribution of US $100,000 + payment of certain fees (for a single applicant). This is the most affordable of all citizenship-by-investment programs.

Dominica’s Economic Diversification Fund (EDF) is used by the government to fund development projects in the fields of education, tourism, infrastructure, and agriculture.

Fees and costs:

EDF Contributions

  • US $100,000 for single main applicant.
  • US $175,000 for main applicant with spouse.
  • US $200,000 for main applicant and up to three dependents
  • Additional qualifying dependent of the main Applicant, other than a Spouse, US $25,000 per extra dependent.

Processing fees are: US $3000 per application

Due Diligence fees are

  • US $7,500 for a single applicant.
  • US $15,000 for a main applicant with a spouse.
  • US $15,000 for a main applicant with a spouse and US $4,000 for each additional dependent who is 16 or older.

Other fees payable include legal fees and passport fees. Fees are subject to change.


Option 2 : Real Estate Investment

Under the real estate option, applicants are required to invest a minimum of US $200,000 in Government-approved real estate. The real estate must be held for a minimum of 3 years, but if applicants wish to re-sell their property to another applicant under the program, they must wait at least 5 years.

Dominica has a stable real estate market which is expect to grow by up to 2.8% by the end of this year. Foreigners can freely acquire up to 1 acre of land for residential purposes and up to 3 acres for commercial purposes. Rental yields are around 4-5% but can go up as high as 7% in the capital of Roseau around the Castle Comfort and Wall House areas during peak season. Calibishie and Woodford Hill are very popular places among foreigners to buy real estate in Dominica.

Fees and costs:

On top of the US $200,000 real estate investment, the following fees are applicable:

Processing fees are: US $1000 per application

Due Diligence fees are

  • US $7,500 for a single applicant.
  • US $15,000 for a main applicant with a spouse.
  • US $15,000 for a main applicant with a spouse and US $4,000 for each additional dependent who is 16 or older.

Government Fees are

  • US $25,000 for a main applicant.
  • US $35,000 for a main applicant and spouse.
  • US $35,000 for family of up to four persons, including main applicant and up to three dependents
  • US $50,000 for a family of up to six persons, including main applicant and up to five dependents
  • US $70,000 for a family of up to seven persons, including main applicant and at least six dependents

(In a case of more dependent the fees for an additional dependent are now set at US25,000.)

Other payable fees include legal fees and passport fees. Fees are subject to change.

BENEFITS

  • Citizenship for life, and additionally, it is not compulsory to reside in Dominica before, during, or after the application.
  • The ability to pass one’s citizenship on to future generations by descent.
  • The opportunity to maintain dual citizenship, if so desired.
  • Complete confidentiality – ensuring that one’s citizenship status is not reported to third parties.
  • No interview requirement.
  • No English requirements.
  • Visa-Free travel to 115 countries and territories, including the European Union, the Schengen region, the United Kingdom, Hong Kong and Singapore.
  • A low tax regime, safeguarding citizens from, for example, worldwide income tax, inheritance tax, and gift tax.
  • Even if you decide to reside in Dominica, there are no direct personal taxes whatsoever.
  • No previous business experience requirements.
  • No country restrictions (includes Iran, Iraq, Afghanistan, Syria).

TAXATION

Although resident individuals in Dominica are subject to income tax on a worldwide basis, there are two noteworthy exceptions which can offer tremendous tax savings:

  • Non-resident citizens of Dominica are only liable to pay income tax on Dominican source income.
  • Resident citizens of Dominica not regarded as “ordinarily resident” are subject to taxation on income accumulated outside of Dominica, but only to the extent that any such income is remitted to Dominica.

In brief, Dominica offers great opportunities for international business people, mobile people who wish to acquire a second passport and people who want to minimise their personal income tax burden.

Our accounting & legal experts, together with an authorised partner, will carefully analyse your situation in order to decide what your personal status should be. Then, they will begin to structure your case in a way such that you obtain a second passport and pay the minimum personal income tax (sometimes even no personal income tax at all) whilst meeting all of the legal requirements.

Other important benefits of the Commonwealth of Dominica are:

  • No real estate tax,
  • No wealth tax,
  • No death tax and
  • No inheritance tax

APPLICATION PROCESS

  • Application preparation with all of the documents (see below).
  • Submission of the citizenship application.
  • Government processing of the application and due diligence checks, taking about 3 months.
  • Approval in principle.
  • Investment in real estate or donation to the EDF.
  • Issuance of citizenship certificate.
  • Passport application and issuance.

Documents required for citizenship application: Please contact us. All necessary forms and assistance with documents will be provided to our clients.

The following forms and documents are required:

  • Application form (Form 12).
  • Due diligence form/declaration.
  • Personal information and disclosure forms.
  • Business background information.
  • Citizenship application letter.
  • Passport application form.
  • Birth certificate(certified copy).
  • Marriage certificate(certified copy) or divorce certificate.
  • Professional references(previous 3 years).
  • Medical certificate including HIV-Test(originals).
  • Original certificate of no criminal record or Police clearance in countries where the client has lived for 6 months or more. This certificate must be less than 6 months old.
  • Two personal references (originals).
  • Bank references (original, and must have been a client of bank for at least 2 years).
  • Copy of passport or ID document (certified copy) of each person, including children.
  • Twelve(12) colour passport photographs of Each person, including children.

Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

PROPERTIES

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