The Commonwealth of Dominica – ‘The Nature Isle of the Caribbean’
After devastated damage caused by hurricanes Erika (2015) and Maria (2017) Dominica attracts investors to become the world’s first climate-resilient nation and the country’s citizenship by investment program is the main source of funds. Along with ‘Social Housing’, the money, which foreign investors spend to obtain a second passport in Dominica, is used to expand luxury hotels & resorts infrastructure on the island of just 750 km2 and with a population of around 73 thousand.
CITIZENSHIP BY INVESTMENT
- Citizenship Inheritance
- No minimum level of education nor managerial experience required.
- No taxes for non-residents.
- Dominica recognizes dual citizenship.
- Interview is not mandatory.
- Inclusion of dependent children below 30 years old.
- Inclusion of dependent parents or grandparents above the age of 55 years.
- Visa-free travel to 135+ countries and territories, including European Schengen States, the United Kingdom and the Russian Federation
Dominica incepted the citizenship by investment program back in 1993, but it has undergone significant changes in 2010s. In exchange of investment the government grants citizenship and the passport of the Commonwealth of Dominica to foreign nationals.
Investments can be in the form of donation (starting from USD100,000) to the Economic Diversification Fund (EDF) established by the government, or purchase of real estate (Starting from USD 200,000). The investor can include family members in the application, which should be submitted to the Citizenship By Investment Unit (CBIU) – the governmental body implementing the CBI program.
Investors are recommended by the CBIU to chose one of the authorized CBIU Agent, in order to provide assistance through each step of the application and get the professional advice.
Applicants do not need to travel to the island for obtain a second passport via investment, though authorities will perform background checks on each person above the age of 16 included in the application. Applicants are required to have a good health and a clean criminal record. The application processing time can last from 4 to 6 months. Applicant has to cover processing and due diligence fees. Successful applicants will be granted passports with 10 years validity and citizenship transferable to further generations. Dominica allows dual citizenship.
Investing in second passport from the Commonwealth of Dominica can offer a lifetime security and insurance along with enhanced international mobility to the investor. Dominican citizens enjoy the visa free travel to more than 135 countries and territories, including Europe (the Schengen Area, the United Kingdom, The Russian Federation)
All remaining fees are unchanged. Therefore, the following fees continue to apply under both arms of the Programme:
Processing Fee USD 1,000 (per application) Certificate of Naturalisation Fee USD 250 (per applicant) Due Diligence Fee for the main applicant USD 7,500 Due Diligence Fee for a dependant aged 16 or over USD 4,000
Bayat legal Services’ compliance team will conduct an internal due diligence.
Qualification assessment, KYC and background security check.
Study the application, sign the retainer agreement, prepare tailor made list of documents and application preparation.
Submission, file review, due diligence process.
Final decision, Comfort letter issuance and contribution payment.
Naturalization certificates and passports issuance.