Second Passport. Dominica Citizenship by Investment

Caribbean passports are very popular nowadays. Applicants do not need to invest a lot, yet they will be welcomed almost worldwide. Visa-free or simplified entry to 140 countries and possibility to transfer a business into offshore with minimal taxation. Even visiting the island is not obligatory.

Program features:

• $100,000 is a minimal sum to join the program
• Passports for the whole family
• Second passport in 2-3 months
• Return on investment in 3 years
• No need to come to Dominica
• 140 countries without visa
• Optimized taxation
• Strict privacy policy

What You Need to Know About the Program

The program exists for more than 20 years, since 1993. Early on, the conditions were not so attractive. For instance, the investor had to live on the island for at least 5 years and the list of relatives was much shorter.

Today the Commonwealth of Dominica is one of the cheapest and fastest programs in the world: the entry threshold is $100,000 and the registration period can take only 2-3 months, while the newly-made citizen has the right to return the investment in 3 years.

The citizenship via investment program offers two options to choose from: 

• a donation to the Dominica economic diversification Fund (EDF);
• a returnable investment in real estate in Dominica. 

In the first case, the entry threshold is at $100,000 (if there is only one applicant), in the second case it is $200,000. Investments in real estate can be returned in 3 years. Under similar Caribbean programs, the term of return of capital starts from five years).

Both children and the wife/husband of the main applicant, as well as parents and young childless siblings on both sides, apply for a passport. Each additional applicant significantly increases the cost of the procedure. But for large families, the program is profitable, because, for example, when investing in real estate (can be a hotel or a private villa), families of 7 or more people pay a fixed state fee, and not an additional fee for each relative, as other Caribbean programs offer.

The Dominica passport gives you the right to transfer your tax residence to an offshore zone and not pay taxes on wealth, dividends, world income, gifts, inheritance. You can live and work in this tax regime not only in Dominica, but also in  one of the CARICOM member states.

Citizenship is valid for life and can be inherited. The registration procedure can only be completed through government authorized agents of Dominica.

The government of Dominica offers an expanded immigration program. The investor has the right to include in the application not only the spouse and children, but also parents and siblings. The spouse needs a marriage certificate. Kids must depend financially and be under the age of 30, no requirements for children with special needs. Parents of the investor must be older than 55 and be financially dependent. Finally, brothers and sisters of the investor and/or their spouse must be under 25 years of age and not married.

Requirements for Applicants

There are no requirements for knowledge of the language, history or culture of the country. The most important thing is to successfully pass a security check and confirm the legal origin of the capital.

Requirements for the main applicant

• At least 18 years old
• No criminal record
• Passed the security check
• The origin of capital is legal
• Health in a good condition

The application can declined, if you:
– violated the visa regime of the EU, the US, the UK and Canada;
– are under investigation or has committed criminal offences;
– cannot confirm the legal source of funds;
– pose a threat to the reputation and national security of Dominica.

Requirements for other applicants

• Good health (does not suffer from socially dangerous diseases)
• No criminal record
• Proved financial dependency
• A security check (all family members over the age of 16)

Learn more about how to get second citizenship by investment in other countries:
Second Passport. Why You Need the Citizenship of Vanuatu
Second Passport. Saint Kitts & Nevis Citizenship by Investment
Second Passport. Grenada CBI Program
Second Passport. Antigua and Barbuda Citizenship by Investment

Documents

All documents must be translated into English by a licensed professional, notarized and have an apostille stamp.

Personal documents

• Application (form D1)
• Fingerprints (form D2)
• The medical certificate and questionnaire (form D3)
• Investment agreement (form D4)
• Colored copies of all available passports
• Copies of birth certificates, marriage or divorce certificates, driver's licenses, and military ID cards
• Certificate of non-criminal record (for all applicants over the age of 16)
• 8 photos
• Confirmation of your current residential address
• Copy of your diploma
• Recommendation letter from the school Director / University rector for children of the age 12-18
• Summary of the main applicant
• Certificate of employment

Financial documents

• Confirmation of all fee payments
• Account statements for  the past 12 months
• Notarized written evidence of the source of funding
• Purchase and sale agreement (for real estate investment)

Rights and obligations

Foreigners with investment citizenship have the same rights as any other resident of Dominica.

• Living, working and making business in Dominica and the CARICOM member countries.
• Travelling without a visa to 140 countries, including Britain, Hong Kong, Singapore, and the Schengen area.
• Living in the country without time restrictions. There are no minimum stay requirements.
• The right to a second, third, and subsequent passport.
• The right to transfer citizenship by inheritance.
• The right to issue a local driver's license.
• The right to open a local bank account and register a company in Dominica.
• The obligation to pay taxes regularly, if you spend more than 183 days a year on the Islands. There are no requirements for a mandatory change of tax residence.
• Obligation to maintain investment in real estate for 3-5 years.

The whole process of obtaining a new passport takes up to 3 months. 

Click here to check out the official website of the program
Photos: pixabay.com

Quoting conditions of Prian.info materials