CITIZENSHIP BY INVESTMENT:
Dominica Citizenship By Investment: Types of investment, Its Requirement & Advantages
Dominica is located in the Lesser Antilles of the Caribbean. With tropical rainforests, high mountains, beautiful springs, and lakes, Dominica is a place of adventure. The blessing of hundreds of rivers, waterfalls, evergreen mountains, and dramatic cliffs makes it more rejuvenating.
Ranking on top of the world’s happiest place, Dominica is known for its long life where most of the citizens are living more than 100 years. A culturally vibrant lifestyle in Dominica makes it a safe and peaceful place with having a friendly community.
Why get Dominica Citizenship?
The Dominica citizenship program is known as the most effective citizen program. It is the oldest nation that has effectively operated a citizenship program since 1993.
In 1993, the government of the Commonwealth of Dominica presented the Dominica Citizenship by Investment Program for foreign investors under specific norms. This is currently the most respectable and one of the world’s longest-running monetary citizenship plans. Applicants can easily get irreversible citizenship without living in the country or revoke their present nationality.
DOMINICA CITIZENSHIP PROGRAM: Process and Its Cost
• Processing time
Under the Dominica citizenship program, any applicant (no matter the applicant is living in the country or not) can apply for the citizenship of Dominica. After the successful application process, it will take 3-4 months to get citizenship.
• Visa-free travel
Dominica citizenship program is also offering you instant visa-free travel to 143 countries (countries including, UK, Hong Kong, Schengen States, Singapore).
• Type of Investment Plans
There are two investment options while applying for Dominica Citizenship by Investment Program. An applicant has to contribute financially by:
a) ‘Donation’ to any of the Government Funds
b) An investment in Real Estate projects approved by the government
A brief explanation of citizenship investment programs
a) “DONATION” Made To Government Fund:
It is a non-refundable monetary investment that requires the accompanying contemplation:
1. For a Single applicant – USD 100,000
2. For Main Applicant and Spouse – USD 150,000
3. For Sibling or spouse of the main applicant (aged between 18-25) – USD 50,000
4. For Main Applicant with up to three qualifying dependents – USD 175,000
5. For another additional qualifying dependent apart from the Spouse – USD 25,000
b) Investment in real estate:
Real estate investment is the second option for obtaining Citizenship in Dominica. In this investment program, the applicant must invest at least USD 200,000 in any real estate project (Note: It must be authorized by the government).
For qualifying the Dominican citizenship by real estate investment, you should buy government-approved property worth at least USD 200,000.
Under this program, you are committed to holding this property for three years from the date your citizenship is approved. If you want to re-sell your property, you can re-sell it after five years under the Citizenship by Investment program.
• Investment cost
1. The investment cost for a single applicant is USD 100,000
2. The investment cost for a family of 4 members is USD 175,000
• Dependents members of the family
Spouse, parents/grandparents (no age limit), children less than 30 years old, and siblings (less than or equals to 25 years old)
• Validity of passport
1. For persons above 16 years of age, a passport is valid for 10 years
2. For children of age 16 and under 16, a passport is valid for only 5 years
• Voting Rights
Under the Dominica citizenship investment program, you have equal voting rights in any political elections as given to the people who were born on the island.
Required documents for Dominica Citizenship Investment
We always provide a detailed list of documents required in the process of Dominica Citizenship. Given below is a list of a few important pieces of documentation:
• Current passport;
• Any certified identification proof;
• Birth Certificate (including date of birth, mother’s name, father’s name, birthplace, and nationality);
• Marriage Certificate (Certificate indicating that she/he is single or married or divorced)
• Biometric Photos;
• Police Clearance Certificate;
• Qualification certificates;
• Address Proof;
• Medical Report;
• Power of Attorney
Professional documentation notably includes:
• Reference Letters provided by Bank;
• Bank Statements;
• Documents related to the Source of Funds
Main Advantages Of Dominica Citizenship Investment Programs
There are numerous advantages of acquiring Dominica citizenship under the Citizenship by Investment Act. These advantages are as following:
1. You are getting visa-free travel to more than 131 countries with Dominican citizenship. These countries include the United Kingdom, EU-Schengen, Hong Kong, Singapore, Hong Kong, and Ireland.
2. Relaxation due to minimal tax (no tax on wealth, capital gains, inheritance, gift, or foreign income).
3. Under Dominica citizenship, you have the right to live and work
4. You can have Dual citizenship
5. There are no such laws related to mandatory residency in Dominica for citizenship
6. Completely safe and secure procedure for gaining Dominica citizenship
7. Parents from age of 55 years and children aged up to 30 years come under the category of dependent members.
8. Citizenship to next generations of the main applicant.
Qualifications For Dominica Citizenship Investment Program
Candidates for the Dominica Citizenship Investment Program should satisfy the accompanying conditions:
1. The candidate applying for citizenship must be at least 18 years of age or above
2. The candidate must not have any criminal record
3. The candidate must have a detailed background check with required identification proof
4. The candidate has required investment according to the Dominica citizenship investment program
How To Obtain Dominica Citizenship?
The process of obtaining Dominica citizenship is quite simple. It will take around 3 to 4 months to complete. It begins with the submission of required documents and finishes with the issuance of a passport certificate with proper authentication.
Steps involved in obtaining Dominica citizenship
1. Checking the eligibility of the applicant
2. Doing initial payment
3. Submitting the file containing required documents
4. Receiving approval
5. Completing the Final Payment
6. Receiving the passport and Certificate of Naturalization
Increase in Dominica Passport Price
Dominica citizenship is the most affordable Caribbean citizenship program. Contrasted with other Caribbean citizenship programs, the monetary necessities for acquiring Dominica citizenship are unusually low. On August 1, 2016, the expense for becoming a Dominican resident through government donation increased significantly, yet the rise in expense has been required to be postponed until 2021.
Expenses were initially set to rise to the accompanying amounts:
1. For single candidate – USD 175,000 from USD 100,000
2. For Main applicant and spouse – USD 225,000 from USD 150,000
3. For Sibling or spouse of the main applicant (aged between 18-25) – USD 50,000
4. For Main Applicant with up to three qualifying dependents – USD 250,000 from USD 175,000
Dominican Passports for newborn
Under Dominica Citizenship Program, Newborn children are eligible to likewise become Dominica residents. A government fee of USD 2,000 is required for adding a newborn as a citizen.
Is it required to invest again after my passport expiry?
No additional investment is required for renewing the passport.
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