Citizenship of Dominica through Investment
A representative of the Legal Department at iWorld. Author of articles on Migration Law.
January 10, 2022
12 minutes read
There are two options for Russians and representatives of other CIS countries to apply for citizenship in Dominica. Under the state investment program, foreigners can buy approved real estate in the Caribbean Islands or make a contribution to the Economic Diversification Fund of the island and get a passport for it. The minimum required investment is 200 000 USD and 100 000 USD respectively.
Getting citizenship of Dominica is one of the most affordable and fastest in the world. The time required to obtain a passport is only 3-6 months. Status as a citizen of the state provides investors with new rights, including visa-free travel to over 115 countries and loyal taxation. Read about all the benefits and the procedure for obtaining citizenship of Dominica in this article.
The benefits of being a Dominican citizen
Obtaining a Caribbean passport has the following advantages:
- Having a backup planDominica is a state with economic stability and a mild climate, where you can relocate at any time, if you have problems in your home country.
- Relaxed tax systemCitizens of the country are not required to pay taxes on capital gains and dividends received in Dominica. Absence of double taxation gives additional privileges when establishing a legal entity in this country. Offshore companies incorporated in Dominica also receive a 20-year tax vacation and do not pay any income tax, inheritance tax, wealth tax and some other taxes.
- Perpetual statusDominica citizenship is for lifetime and is inherited.
- Freedom to travelWith a Dominica passport visa-free travel is available to more than 115 countries, including the European Union, the United Kingdom and Brazil.
- Long-term visas to the United StatesCitizens of Dominica may apply for a B1/B2 visa to the United States for a period of 10 years.
Although citizenship in Dominica can only be obtained through investment, the investment program is well thought out and has several advantages:
- Dual CitizenshipBy becoming a citizen of Dominica, a foreigner does not have to surrender his or her current passport.
- Remote procedureThe applicant does not need to visit the country in person to apply for citizenship.
- AnonymityThe government of an investor's country of first citizenship does not receive information about the investor's acquisition of Dominican citizenship.
Terms of participation in Dominica's investment program
Dominica's passport for investment program is detailed in the regulations published under Article 101 of the Constitution and Articles 8 and 20 (1) of the Citizenship Act. Foreigners can donate to major development projects in both the public and private sectors or invest in government-approved real estate.
Representatives of certain states and territories are limited in their ability to obtain a Dominica passport. These are citizens of Yemen, Saudi Arabia, Afghanistan, Sudan, Turkmenistan, North Korea, Sao Tome and Principe, Iraq, Somalia, Uzbekistan, Pakistan and Chechnya. An exception may be made for citizens of these territories only if they have been legal residents of other countries for more than 10 years and if their sources of income are outside the country of citizenship.
A would-be citizen is not required to come to a Caribbean state during the process of applying for citizenship. Everything is done remotely and no physical presence of the applicant is required.
Requirements for the investor
The list of requirements for the applicant when applying for citizenship of the Caribbean country is quite lenient. At least an investor does not have to pass exams in language, culture and history of Dominica. The most important and time-consuming stages are the verification of the legitimacy of the applicant's capital and trustworthiness.
General mandatory requirements for Dominica citizenship applicants:
- 18 years old or over;
- no criminal record;
- passing a background check;
- legal origin of capital;
- good health (no dangerous viral or infectious diseases, venereal diseases, AIDS, tuberculosis).
The more precise list of requirements will depend on the investment option. If the investor does not want to obtain citizenship alone, but with a spouse, children, or other relatives, the same requirements are imposed on them. But instead of confirming the legality of the source of funds, they need to prove their financial dependence on the investor.
There is a list of violations that can result in the denial of citizenship in the Caribbean:
- inability to prove the legal origin of one's own funds;
- posing a threat to the national security and reputation of Dominica;
- committing a felony or being under investigation;
- failure to comply with visa requirements of Canada, the U.S., the U.K. or the EU.
In order to obtain citizenship in Dominica, the applicant needs to gather a package of documents along with copies, which must necessarily be in color and of high quality. Also, the documents must be translated by a certified translator into English (if they are in another language) and notarized.
To apply for a passport of Dominica you need:
- ID card;
- copies of all existing passports;
- completed application form No. 8 in two copies;
- driver's license;
- copy of diploma of education;
- passport-size photos (8 pieces);
- certificate of military service and mobilization, if any;
- confirmation of name change (except for marriage certificate), if applicable, and a copy of it;
- certificate of employment/reporting financial document;
- disclosure form;
- fingerprint and photo verification form (to be filled out in the presence of the expert responsible for fingerprinting);
- medical certificate and questionnaire (to be completed by a licensed physician);
- birth certificate;
- marriage certificate and divorce certificate, if applicable;
- professional references;
- proof of address (rental agreement/utility bill);
- notarized affidavit of source of income;
- results of medical tests;
- bank statements for a 12-month period;
- a certificate from the police of the home country, citizenship, residence (if different), and any country in which the applicant has lived for more than 6 months in the last 10 years;
- detailed business reports / resumes;
- proof of payment of applicable fees;
- a letter to the Minister.
The full list of documents will depend on the method of investment and the number of persons included in the application. For example, if you choose the option with real estate, you will need a contract of sale, in the case of a contribution to the Economic Diversification Fund you will need an investment agreement.
Investments in Dominica
The investment program includes 2 options for investment of funds. Learn about them in the table below.
|Type of investment||Min. amount $||Timeframe|
|Economic Diversification Fund||100 000||3–6 months|
|Purchase of real estate||200 000||3–6 months|
The final amount of the investment will depend on the number of applicants and the record of all fees. These include application processing fees, security clearance fees, passport expediting fees, and the naturalization certificate fee. Below is a list of government fees and their amounts.
|Type of fee||Amount, $|
|Processing the application||1000|
|Due Dilligence||Principal applicant - 7,500
Spouse and children and other relatives of the applicant who are 16 years old or over - 4,000
|Naturalization certificate||250 for each person included in the application|
|Passport expediting||1200 for each person included in the application|
It is worth adding that the applicant is responsible for paying the minimum fee and all fees in full. When transferring funds, it is necessary to take into account all of the bank fees provided.
Investing in the Economic Diversification Fund
This investment option involves investing in private or public spheres of activity. The private sphere covers agriculture, as well as projects related to tourism or information technology. The public sphere includes the repair and rehabilitation of hospitals, the construction of schools and stadiums, and offshore.
When choosing to invest in the Economic Diversification Fund, the applicant makes a one-time non-refundable contribution of 100,000 USD. Compared with the option of buying real estate, which provides a minimum threshold of 2 times higher, the investor saves a certain amount of money. This makes this method of obtaining citizenship more economical for applicants.
The purchase of real estate
Buying your own real estate in Dominica will allow you to get a home in one of the most beautiful countries in the world. There is also an opportunity to invest in a project that pays off by becoming co-owner of luxury apartments in hotels, hotels, etc. Some hotels have in their assets buildings or rooms, the acquisition of which allows you to become a citizen of the state. This option is more expensive and requires the preservation of property for at least 5 years, but has the prospect of obtaining an additional source of income in a few years.
Analyzing both options, it can be noted that the first will suit applicants who want to save money without worrying about the fate of their funds. The second will be of interest to those who wish in the future to live in the Commonwealth of Dominica or make a profit from the rental of real estate.
Procedure for obtaining Dominican citizenship
A foreigner is not allowed to personally apply for participation in Dominica's investment program. To do so, he or she must contact an agent, officially licensed by the Citizenship for Investment Unit.
To obtain a Dominica passport, the following steps are required:
- Consultation with an agent
Takes 1-3 days, the agent answers your questions, pre-tests the applicant for credibility.
- Preparation of the documents
Documents are prepared within a week, apostilled, translated into English, and then sent to the government of Dominica.
- Confirmation of application
Lasts 1-3 months. During this time, the Dominica government conducts due diligence. If there are no problems at this stage, a letter is sent to the applicant approving their participation in the investment program and providing guidance on how to proceed.
- Making the investment
After the transfer of funds under the investment option chosen by the applicant, he or she receives a certificate of registration.
- Obtaining the passport
Within a week of receiving the registration certificate, the agent hands over the executed passport to the applicant and the applicant becomes a citizen of Dominica.
Comparison with investment programs of other countries
Getting the status of a Dominican citizen by investment is advantageous even in the comparison with similar offers of other countries. Thus, if Dominica offers to make a non-repayable contribution to its economy in the amount of 100,000 USD, this figure rises to 150,000 in Grenada. Those wishing to obtain citizenship of Montenegro will have to make two mandatory investments: the purchase of property, and non-refundable contribution. The total comes to 350 thousand USD, which is almost two and a half times higher than the minimum threshold for investments in Dominica.
Austria, as the center of Europe, can offer its citizenship to the applicant on the basis of an investment in the business of 10 million euros. This is more than a hundred times more expensive than acquiring the citizenship of Dominica. The Commonwealth of Dominica, Montenegro and Grenada allow applicants for their citizenship to include family members of the investor, while Austria does not. On the other hand, only an Austrian citizen has the right to work, live and study permanently in the European Union.
Obviously, if the investor has no interest in living or working in the EU and does not have 10 million EUR, Dominica is a better option.
Citizenship of Dominica for the investor's family
An investor seeking Dominica citizenship can include a spouse, children, parents, grandparents, siblings in the application. Depending on the number of additional applicants, the minimum investment amount will vary.
|Participants in the investment program||Amount of investment in the fund, $||Amount of investment in the real estate, $|
|Applicant||100 000||225 000|
|Applicant with a spouse||150 000||235 000|
|A family of 4 (not including siblings)||175 000||235 000|
|A family of 5||175,000 + $25-50,000 for each additional relative over the age of 18||250,000 + $25-50,000 for an additional relative|
The bottom line is that you should invest in Dominica, as it is the cheapest citizenship by investment program in the world. And there are many benefits to be gained. Migration lawyers can help you achieve the desired result and go through the process smoothly, because this procedure requires the correct execution of actions at all stages, according to the current international law.
Send link to:
Subscribe to stay up-to-date with the latest news in the world of immigration
Author: Alexey Nosovsky
Author: Alexey Nosovsky
Author: Alexey Nosovsky
Author: Alexey Nosovsky
Author: Alexey Nosovsky
- Wide range of realty
- Fast and easy search