The Commonwealth of Dominica, a picturesque island nation in the Caribbean, offers a Citizenship by Investment (CBI) program that provides a unique opportunity for high-net-worth individuals to acquire a second citizenship.
The program, established in 1993, has gained popularity among investors seeking a reliable and efficient path to global mobility.
Eligibility Criteria
To be eligible for the Dominica CBI program, applicants must meet the following criteria:
1. Age: The main applicant must be at least 18 years old.
2. Background: Applicants must have a clean criminal record and pass a rigorous due diligence process.
3. Health: Applicants must be in good health and provide a medical certificate.
4. Investment: Applicants must make a minimum investment in Dominica, which includes:
– A contribution of $100,000 to the Economic Diversification Fund (EDF)
– A purchase of a property in Dominica worth at least $200,000, which must be held for at least 3 years
Minimum Investment
The minimum investment required for the Dominica CBI program is $100,000, which includes:
– $100,000 contribution to the EDF
– $7,500 due diligence fee
– $1,000 passport fee
Alternatively, applicants can opt for the real estate investment option, which requires a minimum investment of $200,000 in a pre-approved property.
Benefits of Dominica Citizenship
Acquiring Dominica citizenship through the CBI program offers numerous benefits, including:
– Visa-free travel to over 120 countries, including the UK, EU, and China
– Right to live, work, and study in Dominica
– Tax-free income and no wealth tax
– Opportunity to establish a business in a tax-friendly environment
– Access to a high standard of living and education
Application Process
The application process for the Dominica CBI program typically takes 2-3 months and involves the following steps:
– Initial application and submission of supporting documents
– Due diligence process
– Approval by the Dominica government
– Oath of allegiance and issuance of a Dominica passport
Conclusion
The Dominica Citizenship by Investment program offers a reliable and efficient path to global mobility for high-net-worth individuals. With its affordable minimum investment requirement, straightforward application process, and numerous benefits, the program has become a popular choice among investors seeking a second citizenship.
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APPENDIX
Here are some key facts about Dominica:
1. Capital: Roseau
2. Population: Approximately 73,543 people (2020 estimate)
3. Language: English (official), French, and Creole
4. Currency: Eastern Caribbean dollar (XCD)
5. Government: Parliamentary democracy and a Commonwealth realm
6. Area: 289.5 square miles (749.8 square kilometers)
7. Climate: Tropical, with a rainy season from June to October
Dominica is often referred to as the “Nature Island” due to its lush rainforests, hot springs, waterfalls, and diverse wildlife. The island is home to the highest peak in the eastern Caribbean, Morne Diablotin, which stands at 4,747 feet (1,447 meters).
Dominica is a popular destination for eco-tourists and adventure seekers, with activities such as hiking, snorkeling, and whale watching. The island also has a rich cultural heritage, with a mix of African, European, and indigenous influences.
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