Due to its natural wonders, Dominica is known as the “nature island”. It has volcanic activity, rainforest, and pristine waters, being the Caribbean island with most developed wildlife.
One of the most distinctive landscapes of the island is the Morne Trois Pitons national Park, which has been a UNESCO world heritage site since 1997. This area was declared a national park by the government in 1975 and it´s named after the highest mountain in Dominica, Morne Trois Pitons. The area has a lot of volcanic activity.
The park has several attractions and, in general, the natural beauty of the island attracts many tourists a year, thus helping to develop the economy and infrastructure.
Why to invest in Dominica
Dominica is a peaceful and stable Caribbean state, offering a laidback lifestyle, great tropical weather and friendly environment. The government respects private property and there are no socialist tendencies, being a great place where to establish or where to get citizenship for international investors, entrepreneurs, and businesspeople.
Being a democracy, in Dominica people´s rights are protected by the constitution, and it has free elections and a stable political environment, unlike many places in Latin America or even the US or Europe. Those civil rights and benefits from a business-friendly state, are, of course, not only for natural citizens but also extended to all the new citizens that acquire Dominican passports.
If you want to live and develop your business in your new country, then Dominica is an excellent choice as it provides economic freedom and has truly little state interventions. It is a low tax country with minimum regulations, thanks to which Dominicans can earn a living in a variety of ways without bureaucratic impediments.
The CBI program
Citizenship by investment programs usually help small nations with little resources (except maybe tourism) to attract foreign capital and develop its infrastructure and economy. The Caribbean islands, due to their location, are usually the perfect scenario for natural disasters. In 2017, hurricane Maria devastated many of these nations and Dominica was not the exception. 200 miles an hour winds destroyed much of the island infrastructure and houses and took the lives of tens of people.
Thanks to the funds collected by the citizenship by investment program, Dominica was able to reconstruct the country relatively quickly, without having to raise taxes or enter into unpayable debts.
The CBI programs are also very convenient for the investors. Having a second passport is a very important step for a businessperson or any person, as it is the perfect plan B. With a second passport you not only have a place to live if you should need it, but also you will have a stable environment where to conduct business or develop your enterprise.
In Dominica you can get a passport in a 3-to-6-month period and you can do this through two different options: real estate acquisition or donation to the national fund.
The donation option requires the applicant to make a 100,000 donation to the national development fund. For an applicant and his or her spouse, then the minimum donation is 175,000, with additional fees for each dependent that you add (children).
With the real estate option, you are required to invest in a government approved real estate project for a minimum of 200,000 USD. This option, since it involves a developer, may take longer because of the logistical issues that need to be addressed. In this sense, the donation option is much more straight forward as it only takes a transaction to complete the donation and payment of the fees. After this all you need to do is wait for the due diligence process to be conducted and then you´ll have a brand-new passport in your hands.
However, with the real estate option, although the process is longer, you will have a property that you can use, rent or resale after a few years. We recommend asking for a consultation with our experts so they can help you go through the options and choose the investment that best suits your needs.
Advantages of the program
- A Dominican passport will allow you to travel visa-free to 137 countries, including the Schengen area, the UK, the Caribbean, and the Commonwealth countries.
- Dominica does not impose any residency requirements and does not tax income, wealth, or inheritance.
- Dominica does not require an interview with the applicant. However, the government may still invite candidates to online meetings.
- The applications are considered within a 3-month period.
The program in a nutshell
Donation
Investor: 100,000 $
Investor + spouse: 175,000 $
Investor + spouse + 2 children: 175,000 $
Additional dependents: 25,000 $
Additional siblings: 50,000 $
Real estate investment
Minimum investment: 200,000 $
Required period of real estate ownership: 3 years
State fees
Investor: 25,000 $
Investor + spouse: 35,000 $
Family up to 4 persons: 35,000 $
Family up to 6 persons: 50,000 $
Family up to 7 persons or more: 70,000 $
If you want to know more about Dominica or any of the Caribbean countries, then don´t hesitate to contact our experts for a consultation.
