Dominica has gained recognition as a leading destination for citizenship by investment (CBI) in the Caribbean. Known for its stable economy, favourable tax regime, and straightforward process, Dominica offers a competitive program that attracts high-net-worth individuals globally.
Lyle Julien, Investment Programs Expert at Immigrant Invest, explores why Dominica citizenship by investment stands out among other Caribbean countries.
What is Dominica Citizenship Program?
Dominica’s citizenship by investment program, established in 1993, is one of the longest-running and most respected in the world. It allows individuals to acquire citizenship through financial contributions to the country, either via:
- Donation to the Economic Diversification Fund (EDF).
- Investing in government-approved real estate projects.
Dominica economic citizenship was structured to support state development while providing investors with valuable benefits such as visa-free travel, tax advantages, and global mobility.
The low investment threshold of $200,000 and quick processing time make Dominica’s program particularly appealing. The program is also flexible, allowing applicants to include family members, such as:
- spouses,
- children,
With no requirement to reside in Dominica, the program is suitable for those who want to maintain their current lifestyle while enjoying the benefits of second citizenship.
15 Dominica Passport Benefits
- Visa-free travel. Dominica passport visa-free countries offer global travellers the freedom to explore many destinations without the need for a visa.
- Tax benefits. No wealth, inheritance, or capital gains tax, making it an ideal jurisdiction for tax planning.
- Dual citizenship allowed.Retain your current citizenship without renouncing it.
- No residency requirements.You don’t need to live in Dominica to maintain citizenship, allowing you to stay in your home country or travel freely.
- Family inclusion.Include your spouse, children, and even parents or grandparents in the application for citizenship.
- Efficient application process. Citizenship approval within six months, making it one of the fastest programs available.
- Stable economy. Dominica’s economy provides security for your investment, supported by sectors like tourism, agriculture, and renewable energy.
- Global mobility. Easier access to international markets and business opportunities, with a strong passport for travel and trade.
- Education benefits. Access to educational opportunities in Dominica and abroad, with scholarships and other advantages for children of citizens.
- Security. Dominica is known for its peaceful and safe environment, making it a secure place for your family and assets.
- Investment options. Choose between a non-refundable government donation or real estate investment, giving you flexibility based on your financial goals.
- Lifetime citizenship.Citizenship is permanent, ensuring long-term benefits for your family.
- No language requirement.You don’t need to speak English or any other language to qualify for the program.
- Political stability. Dominica has a stable political climate, adding security to your investment and lifestyle.
- Retirement option.Dominica offers a peaceful and scenic environment for retirement, with a warm climate, friendly people, and affordable living costs.
Recent Changes in Dominica CBI Program
Dominica’s citizenship by investment program continues to evolve, adapting to global trends and maintaining its competitive edge. Recent changes focus on enhancing transparency and compliance with international standards, ensuring the program remains attractive and reputable.
Stricter due diligence. The introduction of more rigorous due diligence checks ensures that only reputable individuals can obtain citizenship. This helps protect the integrity of the program and the reputation of the country. The process involves background verification by third-party agencies and government authorities.
New investment opportunities. In response to global economic shifts, Dominica has increased a minimal investment amount to $200,000. Still it has the lowest financial requirements among Caribbean countries.
The government offers new real estate projects, including luxury eco-friendly developments that align with the country’s focus on sustainability. This not only supports the island’s environmental goals but also offers investors appealing and future-proof assets.
Post-citizenship support. Dominica has also introduced initiatives to support new citizens after they obtain their passports. These include guidance on how to integrate into the local community, investment opportunities in Dominica, and assistance with accessing the full range of benefits that come with citizenship.
This ensures that new citizens can fully enjoy their status and contribute to the country’s development.
How to Obtain Dominica Citizenship by Investment
Choosing an investment option. You can opt for a non-refundable donation to the Economic Diversification Fund (EDF), starting at $200,000 for a single applicant. Alternatively, you can invest in government-approved real estate, with a minimum investment of $200,000.
Engaging an authorised agent. Dominica requires applicants to work with government-authorised agents who will guide you through the application process. These agents are responsible for submitting your application, ensuring all documents are in order, and liaising with the government on your behalf.
Preparing documentation. You will need to gather and submit several documents, including a valid passport, proof of funds, police clearance certificates, and birth certificates. Your authorised agent will help you compile these documents and ensure they meet the necessary requirements.
Due Diligence check. Once your application is submitted, it will undergo a thorough Due Diligence process. This involves background checks by independent third-party agencies as well as Dominica’s government. This step ensures that all applicants are of good character and pose no risk to the country.
Approval and investment. After the due diligence process, you will receive approval in principle. At this stage, you will make your chosen investment. For those investing in real estate, this means completing the purchase of the property. For those opting for a donation, you will transfer the funds to the government.
Receiving citizenship. Once your investment is verified, you will be granted citizenship and can apply for your Dominica passport. This typically occurs within three to four months from the start of the application process.
Conclusion
Dominica’s citizenship advantages stand out for its affordability, efficiency, and comprehensive benefits. With recent enhancements ensuring the program remains competitive and secure, Dominica continues to be a top choice for high-net-worth individuals seeking a second citizenship.
