Dominica Citizenship. Dominica Passport Through Investments – Ways To Receive
Worldwide Incorporation Services specializes in Dominica Citizenship Investment Programme.
Dominica – General Information
Location: Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, about halfway between Puerto Rico and Trinidad and Tobago.
Area: total: 751 sq km, land: 751 sq km, water: 0 sq km.
Natural resources: Timber, hydropower, arable land.
Population: 73,897 (July 2017 est.).
Nationality: noun: Dominican(s), adjective: Dominican.
Time Zone: UTC−4.
Languages: English (official), French patois.
Government type: Parliamentary republic.
Legal system: Common law based on the English model.
Economy: The Dominican economy was dependent on agriculture – primarily bananas – in years past, but increasingly has been driven by tourism, as the government seeks to promote Dominica as an “ecotourism” destination. However, Hurricane Maria, which passed through the island in September 2017, destroyed much of the country’s agricultural sector and caused damage to all of the country’s transportation and physical infrastructure. Before Hurricane Maria, the government had attempted to foster an offshore financial industry and planned to sign agreements with the private sector to develop geothermal energy resources. Dominica is one of five countries in the East Caribbean that have citizenship by investment programs whereby foreigners can obtain passports for a fee and revenue from this contribute to government budgets.
Currency: East Caribbean dollar (XCD).
Dominica Passport Investment Program – Overview
The Dominica passport through investments program was established as a Dominica citizenship program in 1993. The program is not a new thing having already been pioneered by St Kitts and Nevis, a fellow Caribbean island nation. The program which is established by the Constitution of the Commonwealth of Dominica provides with Dominica citizenship individual persons (and their immediate beneficiaries) who invest a set monetary figure into the Dominican economy. The rules of the program are established in the Commonwealth of Dominica Citizenship Act, whose regulations were established in 1993, and then reviewed in 2014, 2016, and 2017.
How Does The Citizenship by Investment work?
A special Unit (CBIU) manages the Dominica passport through investments program on behalf of the Dominica government. The CBIU is charged with processing all application of persons seeking Dominica citizenship by investment in the Commonwealth of Dominica. The unit conducts due diligence on all applicants according to certain set criteria. The information collected on each applicant is also run against the records of other international agencies including the Caribbean Community Implementing Agency for Crime and Security, governmental databases, and Interpol to ensure only the most qualified persons are granted approval. The unit reserves the right to delay for cause, deny, or approve in principle an application. Nonetheless, it guarantees that the applicant will know the results in no more than 90 days after applying.
Why should you choose Dominica?
When it comes to citizenship by investment programs around the world, the Dominica passport through investments program ranks among the very best. Dominica is an industry leader that has excellent ratings according to the Citizenship by Investment (CBI) Index, published by the “Professional Wealth Management Magazine”. Despite the high competition in the space, Dominica came first among a dozen countries that have economic incentive citizenship programs. With a score of 90%, Dominica was found to the best among all countries in due diligence analysis, mandatory travel rules, ease of processing, and minimum investment outlay.
Here is how Dominica performed:
1) Due Diligence Analysis – With terrorism and international crime an increasing threat, the Dominican program scores high with its collaboration with governmental and non-governmental organizations to collect biometric, fingerprint and criminal activity data. It also does extensive screening and vetting of applicants, particularly with regard to the source of the funds being invested in the program.
2) Compulsory Travel Requirements – Unlike many economic investment programs, the applicant does not have to travel to the Commonwealth of Dominican to apply for Dominica citizenship by investments. This works really well for many persons likely to be interested in such programs that may either live far away from the Caribbean or are too busy to present themselves in person to the CBIU.
3) Ease of Processing – With an agency tasked with performing the entire process, the Dominican program is one of the most streamlined and clearly outlined, given its processes and procedures are constantly being refined and updated.
4) Minimum Investment Outlay – At only $100,000, it is the cheapest investment program out there. Other Perks Located between the French overseas territories of Martinique and Guadeloupe, the Commonwealth of Dominica is a beautiful Island that is referred to as the “Nature Island of the Caribbean”.
The following are some perks of becoming a Commonwealth of Dominica citizen:
-Enjoy unspoiled natural beauty full of waterfalls, countless rivers, and lush natural rainforests that are devoid of dangerous disease or poisonous insects and reptiles. Having some of the largest proportion of islands in the Caribbean, it is a paradise that is a model eco-tourism destination.
-The country is a democratic, economically and politically stable state with the lowest crime rate in the Caribbean, and a friendly climate, which of course has made it one of the happiest countries in the world.
-With the Dominica passport through investments program now decades old, the Commonwealth of Dominica has a good demographic mix of persons of African descent, Chinese, American, and European citizens particularly in Roseau the capital. The country has English as the official language and so most new citizens with some understanding of English should be able to function in Dominica just fine.
-Having gained their independence from the British in 1978, the Dominica Commonwealth is a democracy that follows the Common law legal system.
-Dominica maintains an active presence in major capitals including the likes of Brussels, London, New York, and Washington among other capitals across the world, where a citizen will get assistance as a citizen if they happen to be in those regions.
-Economically, Dominica has membership in the Organization of American States, the World Bank, the International Monetary Fund, the United Nations, the Commonwealth of Nations, the Commonwealth of Nations, the Caribbean Development Bank, and the Caribbean Community (CARICOM).
-As to infrastructure, if you decide to get Dominica citizenship by investments keep in mind that Dominica has good international connections and infrastructure that include two airports, Internet, cable and wireless phone services, modern health care system, water and sewerage systems, reliable electricity, and excellent public transportation.
Dominica passport through investments program Unit has a set of regulations and rules that every applicant has to meet to qualify for citizenship. At the most basic level, the applicant needs to have attained the age of majority (18 years) and meet the following criteria:
1) Clean Records – Only persons of good repute and character will qualify to become citizens. In this regard, the agency conducts due diligence to ensure only persons with no criminal record are allowed to become citizens.
2) Be of Good Health – To obtain Dominica citizenship, the applicant has to prove that they do not have any contagious diseases and that are of good health.
3) Financial Investment – The applicant has to make a financial investment into the Commonwealth of Dominica either by purchasing approved real estate or by making a one-time contribution to the government’s economic fund.
4) Prove their Funds are Clean – The CBIU conducts due diligence and only persons that can prove that the funds used to apply for citizenship are clean will be granted citizenship.
5) Have a Basic Understanding of English – Given that English is the official language, one needs to prove that they at least have a basic understanding to be considered eligible for Dominica passport through investments.
6) Be Represented by a Dominican government-approved sponsor/agent/promoter/ – Since applicants cannot apply individual persons to the CBIU, they have to go through a government-approved agent to submit and file their application documents with the unit.
There are two investment options to apply to the Dominica passport through investments program:
1) To qualify for Dominica citizenship by investments, applicants have to make an investment of not less than $100,000 towards the purchase of pre-approved real estate in Dominica or contribute to a Governmental Economic Fund. In both instances, the applicant needs to commit themselves fully prior to applying for citizenship, but do not have to pay the full amount until they are approved in principle for citizenship.
2) Government Fund – With the government fund option, the applicant pays into an economic fund that is intended to enhance the financial security and social progress of the island through investment into private and public sector projects. Private sector projects are mainly in the agricultural, tourism, and information technology sectors. Public sector projects are in sports, education, health and industry sectors.
To apply to the Dominica passport through investments program under the Government Fund Program, an applicant needs to make the following one-time contributions:
– Single applicant – $100,000
– The main applicant and their spouse – $175,000
– Main applicant, their spouse, and up to two children younger than 18 – $200,000
– Additional dependents – USD $25,000 each
3) Real Estate – Real estate in Dominica has seen an explosion of value in recent times with business people from Europe the United States, Russia, China, and the Middle East investing in the tropical island and becoming citizens. To be eligible for Dominica citizenship through the real estate option requires the applicant to purchase pre-approved real estate development on the island. The property needs to be worth at least $200,000, and they need to maintain ownership of the property for at least three years. If the owner keeps the property for at least five years, the CBIU allows them to resell it on the open market.
Aside from the direct investment in real estate, the CBIU requires the investor to pay the following as application fees:
– Main applicant – $25,000
– Spouse – $10,000
– A family of a maximum of 4 persons – $35,000
– A family of a maximum of 6 persons – $50,000
– A family of 7 or more – $70,000
Benefits Of Acquiring Dominica Citizenship
-The Dominica citizenship by investments acquired through the program cannot be lost once granted and can even be taken up free of charge by any children of the applicant under five.
-The Dominican passport is valid for ten years and is easy to renew whenever it expires so that the citizen can travel stress-free whenever and wherever they feel like.
-With a Dominica citizenship, individuals get access to some of the most travel restricted countries that include most British Commonwealth states, Singapore, China, South Korea, Hong Kong, the United Kingdom, and the Schengen area.
-Dominica has an excellent international image which every citizen will naturally acquire making their employment, entrepreneurial, and investment opportunities across the world all the more easier.
-With a democratic government operating under common law principles, a citizen can be certain that their privacy and assets are protected by the government.
-The country is a paradise that anyone would love to live in, but if a citizen would like to live in some other place, there is no shortage of places where as a Dominican they could live including all the Caribbean Community countries, Most of the Commonwealth, Hong Kong Singapore, the UK, and Schengen area among many others.
– To get Dominica passport through investments is one of the greatest ideas you could implement. The country has some of the friendliest tax policies for investors that include zero taxes on foreign income if the citizen does not reside in the country, and zero taxes on inheritance, wealth, gifts and capital gains.
-For persons worried about their home countries policies, the Dominica citizenship by investments program provides the utmost privacy as the applicant does not have to renounce their citizenship. The program will also not notify their current country’s authorities of their new citizenship.
-It is the most affordable and painless programs that has one attain citizenship in no more than three months after submitting their application.
-The Dominica passport through investments program is a Constitutional Act and hence one need not worry about losing their citizenship. Moreover, since the Commonwealth is a democratic state under Common Law, the citizen is sure that their rights are protected and respected.
-The applicant only makes their investment after they have been approved for citizenship. As such, the applicant need not worry about expensive procedures that may ultimately result in rejection and loss of their money.
-As one of the most peaceful and crime-free states in the Caribbean, a person holding Dominica citizenship has good insurance from the vagaries of unexpected economic, political, and social strife that may occur in countries they reside in.
Terms and Conditions
How many people can be classified as eligible dependents for Dominica citizenship by investments program? – The applicant can include an unlimited number of eligible dependents in their application as long as they are under the age of 28 and can reasonably be said to be fully dependent on the main applicant. Dependent grandparents or parents have to be at least 55 years of age.
Is acceptance guaranteed? – Acceptance is contingent on passing the due diligence procedures set out by the CBIU. In the instance of the application being rejected, all monies paid towards the application minus the application fee will be refunded in full.
What about Dominica citizenship for future children? – Any child born by a Dominica passport through investments program citizen may become a citizen regardless of the country they are born in, as long as the child is under five, and the parent pays the $2,000 application fee.
What Documents does the CBIU require? – There are several personal documents and forms that the CBIU needs to process a Dominica citizenship by investments application. Applicants need to check with their agent/sponsor on the different types of documents needed for their application.
Worldwide Incorporation Services provides the following services in Dominica:
- Dominica Citizenship by investments
- Dominica Passport