Dominica is an island country in the West Indies and is part of the Windward Islands in the Lesser Antilles archipelago in the Caribbean Sea.
Officially the Commonwealth of Dominica, the island nation offers one of the most popular immigrant investor programs in the world.
Dominica’ Citizenship by investment (CBI) program allows an investor and his family to obtain Legal Citizenship and Dominican Passport in return of making a significant investment either in – the form of Economic Diversification Funds or Real Estate.
The Government of Dominica continues to make positive changes and amendments to enhance its citizenship by investment program competitiveness.
According to the new provisions made by the Dominican Government, all of investor’s family members can join him/her in Dominica!!
- All family members of the investor can qualify for Dominica Citizenship
The Government of Dominica has expanded the definition of ‘dependant’ under its CBI program. The changes will allow main applicant to add his previously un-qualifying dependents including his adult children, parents, grandparents, and siblings in his visa application. However, the need to pass the due diligence checks to qualify still remained unchanged for all dependants aged 16 or over.
Moreover, the investor can now include a child aged between 18 to 30 who does not require to be attending a higher learning institution or living with them. As per the new regulations, the main applicant or their spouse just needs to demonstrate that they support the child, which will be sufficient to qualify.
In the same way, parents and grandparents of the main applicant or their spouse are no longer required to prove that they live with the investor as their support is enough to qualify them as eligible dependants.
- Introduction of a new ‘sibling’ category
The Dominica Government has also introduced a new ‘sibling’ category that allows the biological or legally adopted siblings of the main applicant or their spouse, who are 18 or older, single, and childless to qualify for Dominican citizenship.
In addition, children born – and spouses married – after the main applicant receives citizenship can also qualify to become citizens of Dominica.
The aim of these aforementioned changes is to facilitate family reunification through Dominica citizenship by investment program.
Dominica Citizenship by Investment Program – Investment Options
The Commonwealth of Dominica offers Citizenships to foreign investors along with their families under two main investment schemes.
OPTION 1: ECONOMIC DIVERSIFICATION FUNDS (NON -REFUNDABLE)
Starts at just $100,000 for a single applicant plus fees, or $200,000 for a family of four
** Legal and Professional fee is applicable.
OPTION 2: Real Estate Investment ($ 200,000 investments in govt. approved projects)
Purchase $ 200,000 shares in a govt. approved project. Shares can be sold after 5 years.
** Legal and Professional fee is applicable.
OPTION 3: Entrepreneur Visa Program
The commonwealth of Dominica is introducing a new Entrepreneur Visa program – a unique platform that will offer applicants a “2-year” pathway to obtain Dominica citizenship.
In return of making an investment in Dominica under Entrepreneur Visa program, applicants will receive a 2-year residency permit, which will be issued within 45 days of approval. Applicants can apply for naturalization after said 2 years, provided they meet all the criteria.
INVESTMENT OPTIONS
Applicants can get this visa by investing under these three options:
- Invest a minimum of 50,000 USD in an existing government-approved company through the Investment Fund.
- Invest a minimum of 100,000 USD in a new startup business locally registered in the Commonwealth of Dominica employing at least 3 full-time employees.
- Invest in a government-approved public sector or private sector venture as an equity investor.
** Legal and Professional fee is applicable.
ESSENTIAL REQUIREMENTS
In order to qualify for the Entrepreneur Visa, the applicant needs to meet the below given requirements:
- Deposit a minimum of USD 100,000 in a local financial institution
- Spend at least 90 days out of 365 days per year in the Dominica.
Dominica is an island country in the West Indies and is a part of the Windward Islands in the Lesser Antilles archipelago in the Caribbean Sea. The country offers one of the most economical and flexible second passport programmes in the world.
The Entrepreneur Visa program is also designed to “add valuable foreign direct investment into the private sector of the island.
- BENEFITS OF OBTAINING DOMINICAN PASSPORT
As a citizen of Dominica, you can partake in a wealth of opportunities and experiences, including:
- Global mobility, including visa-free travel to over 125 countries and territories including the European Union and the United Kingdom
- Zero tax regime on- wealth, gift, inheritance, foreign income, or capital gains
- Dual Citizenship is allowed, no need to denounce original nationality
- Citizenship can be passed to future generation by Decent
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