Citizenship by Investment in a Fund or Real Estate
CITIZENSHIP AND PASSPORT OF DOMINICA
BY INVESTMENTS
A fantastic place with untouched natural beauty, Dominica is probably the most spectacular Caribbean island. There is one of the highest standards of living in the region.
Officially, The Commonwealth of Dominica, this beautiful island boasts pristine sandy beaches, lush green mountains, acres of unspoiled tropical rainforests, and some of the best diving and hiking in the Caribbean. A diverse blend of English, French, African and Carib peoples and cultures, Dominica is a politically and economically stable state with the lowest crime rate in the region. The Economic Citizenship Program in Dominica offers applicants a wealth of benefits and privileges, including:
No physical residency requirements;
Inclusion of dependent children up to 25;
Inclusion of unmarried daughters under 25 living with and fully supported by the main applicant;
No minimum level of education required;
No managerial experience required;
No interview, education or management experience required;
Visa-free travel to over 95 countries including Europe’s Schengen zone, UK, Hong Kong, Malaysia, Singapore and Turkey;
No taxes for non-residents;
Dominica recognizes dual citizenship, so you can retain your current nationality.
Options of obtaining the passport and the citizenship of Dominica:
1. Investments in National Development Fund:
$200,000 main applicant;
$50,000 spouse of the main applicant;
$25,000 additional dependent aged 18-25;
$250,000 family of four.
2. Investments in real estate:
Purchase of real estate for $200000 and more. Property must be owned for at least 5 years. Property registration, processing fees and taxes are paid separately.
Citizenship of the following territories and states is not granted Dominica citizenship: Chechnya, Afghanistan, North Korea, Iraq, Pakistan, Saudi Arabia, San Tome Principe, Somalia, Turkmenistan, Sudan, Yemen, and Uzbekistan.
Exceptions are applicants who have been legal residents of other states for 10 or more years and their investment funds do not originate from the above-mentioned territories and states.
Cost of checking on the criminal past:
$7 500 for the directly applying person + spouse;
$4 000 to the applicant, who is more than 16 years.
State duty for acquisition of real estate:
$25 000 the main applicant with dependents, which are elder;
$35 000 for the family, consisting of 4 persons, including the main applicant;
$50 000 a family, consisting of 6 persons, including the main applicant.
THE OFFER OF «KEMPINSKI HOTELS»:
«Cabrits Resort Kempinski Dominica» is the first project approved by the Dominica government in accordance with the Citizenship through Investments program. The five-star resort consists of 106 rooms that are built according to environmental requirements. Return on investment of 2-5% per year.
The minimum number of investments is $220 000. Investments in the project provide investors with Dominica citizenship.
As a recognition of the investment, the investor will be assigned the highest level of loyalty program participant.
The advantages of citizenship of Dominica:
Dominica is considered one of the most attractive and affordable options for obtaining a second passport: the migration program of this island state has been in place for more than twenty years. The country can offer comfortable conditions for permanent residence and business, an optimal tax system, visa-free travel and many other benefits. Consider the pros and cons of Dominica citizenship.
Advantages:
The program has earned a good reputation, thanks to which the registration of citizenship of this state is in great demand. In addition, the improvement of the migration program has made the acquisition of Dominica citizenship even more profitable and prestigious. So, the main advantages of Dominica citizenship include:
Providing tax benefits. Economic citizenship involves obtaining the status of a resident of the jurisdiction of the island state. Favorable tax policy of the country allows you to take advantage of a number of tax incentives, including exemption from taxes on income, receiving foreign countries, the absence of capital gains taxes, etc.;
No requirements for living in the country for naturalization. Getting a passport is possible without first obtaining a residence permit;
Visa-free entry to a huge number of countries. Citizens of the island state get a unique opportunity: they have access to over 100 countries without visas. Among the countries of visa-free entry are the countries of the Schengen Agreement, Singapore, South Korea and others. Thus, travel without visas will be possible both for tourist purposes and for conducting business and business negotiations;
Lifetime citizenship. Citizenship is indefinite and is subject to cancellation only in strictly established cases. Citizens of Dominica receive a passport for 10 years (children for 5 years), after which a standard document replacement procedure takes place;
Low cost of citizenship. Compared to programs in other countries, the Commonwealth of Dominica proposes the introduction of a minimum amount of investment to apply for citizenship;
Favorable conditions for doing business. The country is a member of "CARICOM", so the citizens of the island state have the opportunity to engage in business activities in any country of the alliance. Other benefits for entrepreneurs are also available;
Security. Obtaining a passport of Dominica ensures the protection of business, bank accounts and real estate both in foreign countries and in the country of permanent residence;
Confidentiality. The authorities guarantee complete confidentiality and do not provide the country of first citizenship with information about the citizen's receiving a passport;
No need to visit the country. The presence of the applicant is not required as with the registration of citizenship (personal interview is conducted selectively), and in the future: obtaining a second passport does not imply permanent residence and periodic entries, and stay;
Obtaining citizenship of Dominica does not require abandonment of the first citizenship. A definite plus can be called a stable situation inside the country. In addition, the Commonwealth of Dominica does not participate in international conflicts, so that the owners of the passport of this state have the opportunity to move freely around the world and are not subject to various sanctions. The country is characterized by a fairly high level of security, beautiful nature and a comfortable social environment; therefore Dominica is suitable not only for those who wish to obtain citizenship for business and as a backup option, but also for those who may be planning to find a place with perfect conditions for permanent residence.
Disadvantages:
the possibility of revocation of citizenship (in cases where it was obtained by fraud or if the owner of the passport was imprisoned);
the need to provide a large list of documents for registration of citizenship;
in some cases, a long period of consideration of the application;
It should be noted that the territory of the state belongs to the zone of natural disasters (flooding, hurricanes are possible);
However, if we compare the indicated disadvantages of the considered variant and its positive aspects, it is not difficult to notice that Dominica is the most suitable and most profitable direction for obtaining a second passport. The minimum cost of citizenship with other benefits opens up broad prospects for international business and allows you to protect yourself in case of unforeseen situations.
Process citizenship of Dominica:
The process of obtaining citizenship in Dominica has recently been greatly simplified from June 1, 2017, the government reduced the number of documents required to obtain a new passport. These documents that were previously included in the mandatory list will no longer be useful to you:
Banking certificate;
Audit financial statements;
Vaccination card;
Personal characteristic.
These innovations are designed to save investor time. However, not all so simple. So, you still have to do financial reports and a bank certificate, but you will not be submitting these documents to the migration service, but directly to the bank during the transfer of investment funds. As for the vaccination cards and characteristics, they really will not be needed anywhere.
Citizenship in Dominica: a staged process:
Obtaining citizenship of Dominica can be divided into several stages, during which you need to:
Collect documents. This is a fairly long list, and an open one, in some cases additional papers may be required;
Submit the collected documents to the Ministry of Immigration and Labor of Dominica and the Ministry of National Security of Dominica;
Wait for a response letter from the Ministry;
Pass an interview (for this you will need to organize a trip to Dominica or to another country where there are representative offices in the United States, the United Kingdom, the United Arab Emirates);
Get a certificate of naturalization, and later a passport as a citizen.
Collect documents:
What needs to be done to start the process of obtaining citizenship in Dominica? First, prepare all the documents. Here is a list of basic documents, but it is open we draw your attention that, most likely, other papers may be required.
The applicant's form is based on a sample (called the Application Form 12), 2 copies. The document is filled by the applicant himself, similar forms are filled in by members of his family (if they also apply for citizenship), including children;
Recommendation letter, it should be written by experts from the investor’s bank;
Information about employment of the investor;
Affidavit from the investor indicating sources of income;
A letter addressed to the Minister of Dominica in you must indicate the reason for the application and the request to issue citizenship;
Certificate of no criminal record with fingerprints;
Photos of the applicant and his family members, also applying for citizenship, notarized;
Birth certificates;
Affidavit confirming the correctness of the information provided;
Medical certificates.
Important points.
To become an investor, and, subsequently, to obtain citizenship, the applicant must be at least 21 years old. It is significant to know English, at least at the basic level it is in it, and not in Russian or in any other language, that the questionnaire must be filled out. Remember that all documents must be issued no more than three months ago, and copies must be certified by a notary.