Ultimate Guide to Dominican Citizenship by investment

Dominica Citizenship by Investment

Dated back to 1993, individuals, as well as their families across the globe, are legally offered permanent second citizenship Dominica with passport issuing within 4 to 6 months without the requirement of visiting the country, thanks to the Economic Citizenship Program Dominica. Having a commendable global reputation of the Caribbean islets, the passport of Commonwealth of Dominica offers visa less access to over 115 countries worldwide namely countries under European Union, UK, Brazil, Switzerland, Russia, Hong Kong, and Singapore while also offering access to visa on arriving these countries. Dominica citizenship by investment program is a well-established law. As the local law has no restriction on having double nationality, the second citizenship program through investment in Dominica takes place confidentially and there is no requirement of renouncing one’s existing citizenship.

Citizenship of Commonwealth of Dominica with investment has no criteria for age, educational and business experience, language, and there is also no requirement of an interview and physical residency mandatorily. Dominica is economically secured with democratic parliament and thereby, Caribbean citizens enjoy the highest standard of lifestyle where non-residents do not have to pay taxes and crime rate is lowest in the region. Besides, this naturally magnificent region is blessed with verdant mountains, numerous waterfalls and pristine rivers, beaches swathed with black and whitishsand. The best thing is citizenship by investment in Dominica is the cheapest, reputable and the cost starts at USD 100,000 only.

Update: At least till the end of 2019, the second citizenship cost in Dominica will not be changed. The investment criteria for citizenship program in the Caribbean were scheduled originally for increasing significantly in August in 2016 while the minimum cost for issuing Dominican passport rose 75 percent to touch USD 175,000. Such a significant increase in cost is now on hold for an indefinite period and hence, if you wish to obtain Dominican citizenship, you better act as soon as possible.

Eligibility Criteria for Citizenship Program of Dominica

According to Section 101 in the Dominican Constitution as well as Section 8 with Amendment 20(1) in the Citizenship Act, eligible candidates are legally granted instant Dominica citizenship through Certificate of Naturalization. Citizenship By Investment Unit (CBIU) in Dominica has been established quite recently as a government authority on behalf of Finance Ministry and as a regulatory body, it enforces necessary regulations under Dominica second passport program while ensuring acceptance of only worthy candidates. To be deemed eligible, the main applicant should be minimum 18 years old and meet all eligibility criteria for Dominica immigration given below –

Clean Background

The Dominica second citizenship program is valid for those people having outstanding repute and character. To make sure that only credible candidates with impeccable social stature get citizenship, the Dominica government employs a private investigating agency with preeminence to run extensive due diligence program for all candidates above 18 years old. Dominica maintains excellent due diligence standard for protecting the integrity of citizenship through investment procedure. Only those candidates without any criminal record and those having legally derived funds are permitted for obtaining Dominica citizenship by Investment.

Good Medical Background

For the approval of Dominica nationality, candidates should have a great health condition and no contagious disease.

Financial Investment

For citizenship by investment in Dominica, the candidate has to either make a considerable financial contribution to any Government Fund or acquire any government permitted real estate within the island. In either case, the candidate has to commit officially to investing prior to application to investor program, although he/she need not pay the total amount until the approval is made in principle.

Government Fund

Both private and public sector projects within the country are financed by the Dominica Government to garner national development while supporting financial security and social progress within the islands. Promoting Dominica Island offshore industry, constructing national level sports museum, setting up new schools and renovating local hospitals are the projects in the public sector which are selected for financing through government fund. In case of projects under the private sector to be financed by government fund, agriculture, tourism, and information technology are focused primarily on advancement.

For qualifying under Dominica citizenship by investment program regarding this option, the following monetary contributions (non-refundable) are to be made to Government fund –

  • USD 100,000 – Single applicant
  • USD 175,000 – the Main applicant with a spouse
  • USD 200,000 – the Main applicant with spouse and maximum of two children below 18 years old
  • USD 25,000 – Additional dependents

As a matter of fact, the above-mentioned contribution amounts tend to be significantly lesser than other countries of the region offering citizenship by economic investment with almost similar passports. The second passport program Dominica offers exciting value for its candidates and Dominica takes pride in offering the cheapest second citizenship program by investment across the globe, thanks to its affordable criteria for investment that surpasses any other reputed investor citizenship program. The cost of Dominica citizenship might increase substantially this year or the next year which will supposedly bring the Dominica economy more aligned with other citizenship programs in the Caribbean islands.

Those aspirants applying under the option of Government donation will have to agree to make total payment specified as per the program within thirty days of getting a letter of Approval in Principle from CBIU. Candidates need not make payment until he/she has cleared due diligence program and thereby, is approved in principle officially. Once the conditional approval from CBIU is formally sent to the candidate, the donation is to be deposited into a selected government escrow account through wire transfer at National Commercial Bank of Republic of Dominica. In case any application gets withdrawn or rejected, the candidate is refunded the deposited amount fully excluding a little fee for the application, that too within a month of withdrawal or rejection. For a successful application, the money gets debited by Dominica Government from escrow account only after Oath of Allegiance is signed before designated Notary Public, while main applicant, as well as the family, has been issued naturalization certificates and passports.