Dominica passport is a great insurance for your future as it’s issued for a lifetime. Citizenship of Dominica is a key to visa-free travel to over 124 countries, including the Schengen Area countries and the UK. It also allows you to create an emergency plan to relocate to another country in just 3-5 months!
In this article, we’ll talk about the latest changes in Dominica citizenship by investment program, the possibilities Dominica passport holders obtain and other important facts.
Key facts about Dominica citizenship
The Dominica CBI program was launched in 1993, however, it gained its popularity only in 2015 after the EU countries have signed a visa-free agreement with Dominica. About 12,000 passports have already been issued to foreign investors.
As Dominica officially recognizes double citizenship, you won’t be asked to drop your current citizenship. Plus all the information is strictly confidential and is not disclosed to third parties.
One more interesting fact. To obtain Dominica citizenship by investment, you don’t need to visit the island. The passport is obtained in a remote mode. The citizenship is processed exclusively through a licensed, government-approved agent. Also, there is no requirement to reside on the island even after obtaining the citizenship.
Here are 5 reasons why investors are interested in Dominica passport
- Visa-free entrance into over 124 countries, including the Schengen Area countries, the UK and Hong Kong, Singapore, among others. Dominica passport holders are allowed to stay in Europe up to 90 days within a 6-month period, up to 180 days per year in the UK.
- Dominica has no worldwide income, capital gains and inheritance taxes.
- Ability to obtain long-term visas to the US and Canada (for about 10 years).
- The main applicant may include in the application a spouse, financially dependent and unmarried children up to 30 years of age, and financially dependent parents who are 55 years of age and over.
- Company registration and doing business in the international arena.
How to obtain Dominica passport: Investment options
There are two investment options available at the moment:
- Donation to a state fund of Dominica. The minimum investment — $100,000.
- Investment in a government approved real estate object, the retention period is 3 years. The minimum investment — $200,000.
Please keep in mind that the full cost of the investment option depends on the number of family members you intend to include in your application, as well as their age.
Important! In November 2017, Cabrits Resort Kempinski, a first real property object approved by the government of Dominica within its passport program, opened its doors. By investing in it, you will obtain both the citizenship and annual yield (about 5-6%).
Latest changes in the program
In June 2017, the list of submitted documents has become thinner. The applicants don’t need to submit the following documents any more:
- bank reference;
- personal characteristics;
- vaccination card;
- financial statements that have been audited.
In conclusion, we would like to say that the Dominica CBI program ranked first having beaten 11 participant countries in 2017 CBI Index. The index was published by the Professional Wealth Management and composed by the Financial Times analysts.