The Dominica Citizenship by Investment, established in 1993, is a program by the Commonwealth of Dominica set to boost its investments. It provides Individuals and their families with second citizenship and passport in exchange for boosting the Dominica economy. The passport offers visa-free or visa-on-arrival access to more than 115 countries worldwide, including the European Union, Switzerland, the UK, Singapore, Russia, Brazil, and Hong Kong. The Dominica Citizenship by Investment Program operates under section 101 of the nation’s constitution and sections 8 and 20 of the Citizenship Act. The Government can grant citizenship to persons who qualify under specific criteria and policy guidelines.
Simply put, The Dominica Citizenship by Investment Program grants applicants and their families full citizenship in exchange for making an economic contribution to the country. The Dominica citizenship by investment program offers better value to investors than any other economic citizenship program in the world. This highly reputable and lucrative Citizenship program does not just enable an applicant to gain full, legal citizenship for themselves and their family through making an economic contribution to the country. It also offers irrevocable second citizenship, regardless of changes in governmental policy, and passes it down to future generations.
THE DOMINICAN ECONOMY
The Dominica financial services industry has increasingly become the country’s principal economic generator in the past decade. In contrast, Agriculture has long been the country’s economic mainstay, with banana production directly or indirectly employing more than one-third of the island’s workforce. As the Dominica offshore banking sector grows, coffee and banana exports will become a much smaller percentage of the national gross domestic product (GDP). Fishing also plays a somewhat important role in the local economy employing approximately 2000 people, while forestry and mining provide a limited number of jobs in the country. Dominica’s GDP per capita is currently $7,000.
BENEFITS OF THE DOMINICA CITIZENSHIP BY INVESTMENT PROGRAM
- The eligibility covers the entire family.
The Applicant’s spouse, unmarried children under 31 who are substantially dependent on the applicant, parents and grandparents aged 65 and older, and qualified dependents can gain citizenship and obtain Dominica passports.
- Visa-free or visa-on-arrival travel to 145 destinations worldwide.
The passport offers visa-free or visa-on-arrival access to more than 115 countries worldwide, including the European Union, Switzerland, the UK, Singapore, Russia, Brazil, and Hong Kong.
- Dual citizenship
There are no restrictions on dual citizenship in Dominica. Dominica recognizes dual citizenship, which may also pass down to future generations.
- Affordable second passport
The Dominica passport is affordable and can be acquired for just a $100,000 financial contribution. The passport rank is 78th in terms of travel freedom.
- Accessible Procurements for Business Visas or Residence Permits
Holding citizenship in a Commonwealth country such as Dominica makes it easier to procure a business visa or residence permit in many other Commonwealth countries such as Canada or Australia.
- Flexible requirements
The requirements with Dominica citizenship by investment are flexible as there are no residence requirements and no managerial experience or interview for economic citizens.
- Offers Diversification
A second passport offers economic and political diversification. It works as an ultimate emergency backup plan.
REQUIREMENTS FOR THE DOMINICA CITIZENSHIP BY INVESTMENT
To become a citizen via the Dominica Citizenship by Investment Program, the applicant must meet a series of Dominica passport requirements.
There are as follows;
The foreign investor must:
- Have a basic knowledge of English.
- Be over 18 years old.
- Have an outstanding character with no criminal record
- Have excellent health and pass a detailed background check.
To qualify for citizenship under the current regulations, single applicants may choose from one of two options:
- Economic Diversification Fund
The applicant may donate a non-refundable contribution to the Economic Development Fund of USD100,000. The contribution cost is determined by the number of dependents included in the application and qualified family members.
- Pre-approved real estate route
The applicant may invest in an approved real estate development with a minimum value of USD 200,000. The real estate government fee is fixed but subject to change.
REQUIRED DOCUMENTS FOR DOMINICAN CITIZENSHIP BY INVESTMENT
A Dominica citizenship by investment program application can include the following items:
- Certified copy of current passports
- Certified copy of Birth Certificate (all applicants)
- Police certificate from country of birth and country of residence
- One professional reference
- Two personal references
- Marriage certificate (if applicable)
- Bank reference letter
- Letter of employment (if applicable)
- Audited financial statements for business (if applicable)
- College or University Diploma (notarized)
- Affidavit or declaration of source of funds
- Recent tax return
- Resume
- Detailed business background report
- Eight passport-size photos for each applicant
An Authorized Agent processes all applications by ensuring the correct completion of the client’s application form, helps prepare all the requisite supporting documentation, and handles all correspondence with the Government on behalf of the applicant. Economic citizenship in Dominica is only available through an authorized agent of the program. Many CBIU-authorized agents are licensed lawyers. You can get in touch with our qualified advisors for more information on how we can support you throughout your citizenship program application.
OTHER RESOURCES:
5 Steps to Prepare for Citizenship by Investment
The Route to More Than 150 Countries – Citizenship by Investment