Why should I get my second passport from Dominica?
Until 1993 it was not possible to gain Dominican citizenship without residing in the country. Thanks to the god of diplomacy and politics, it has changed. The Programme was recently reshaped by the 2014 Citizenship by Investment Regulations
to include diverse investment options.
The Dominica Citizenship Program offers an excellent second citizenship and powerful second passport at a much lower cost than investment citizenship programs in similar jurisdictions.
The main reason for implementing CBI (Citizenship by Investment) in Dominica was purely economic. It is a part of the country's development plan through which revenue generated. This revenue would be channeled into stagnant or struggling programs and local projects. Such as building of schools, renovation of the hospitals, and promotion of the offshore sector. In the private sector, funds generated from CBI would be directed to the tourism, agricultural or IT sectors.
There are 7 pillars of CBI: freedom of movement, standard of living, minimum investment outlay, mandatory travel or residence, citizenship timeline, ease of processing, and due diligence. Taking all these into account CBI provided by Dominica gets 90 score out of 100. Let's talk about them in detail:1. Mandatory Travel or Residence
No residence requirement. No requirement to visit Dominica before, during, or after application. No interview requirement 2. Freedom of Movement
Visa-Free Travel to 110 countries (including UK, EU, and Schengen countries) 3. Citizenship Timeline
Gathering the application documents usually takes about 1-2 months. After the application, processing of the documents by CBIU (Citizenship by Investment Unit in Commonwealth of Dominica) takes 2-3 months. 4. Ease of Processing
CBIU is the Government Authority that deals with all matters regarding Citizenship by Investment in the Commonwealth of Dominica. The Government has established the CBIU within the Ministry of Finance to promote and administer the Citizenship by Investment Program. The Unit will be dedicated to the effective management and processing of the applications that are received by the Government. The Unit ensures the highest professional standards and is committed to strict enforcement of the regulations and streamlining the process. There is no language tests. 5. Due Diligence
Government, Professional and Due Diligence fees apply. Reasonable prices without intermediary surcharges;
6. Minimum Investment Outlay
- Processing fees (per application): USD $1,000
- Due diligence fees – Main Applicant: USD $4,000
- Due diligence – Spouse: $USD $7,500
- Due diligence – dependent (aged 16+): USD $4,000
- Certificate of Naturalization fee: USD $250 per person
- Expedited passport issue fee: USD $1,200 per person
You have two investment options: EDF (Economic Diversification Fund), or Real Estate Investment. We will discuss these in detail at Investment Options. If your application is withdrawn or rejected, you will be refunded (excluding the fees) 7. Standard of Living
Dominica is often referred to as the 'Switzerland of the Caribbean' due its generous tax legislation and attractive offshore banking facilities. Dominica is arguably the most breathtaking island in the Caribbean, boasting one of the best standards of living in the region. Although it could be pernicious to folk used to a certain level of civilization, and once they have grown tired of all of the outdoor activities, they might just begin to yearn for shopping malls, cinemas and fast food joints. Investment Options1. EDF
- To qualify for citizenship under this investment option, the following contribution amounts are required:
- Single applicant: a non-refundable contribution of USD 100,000
- Main applicant and spouse: a non-refundable contribution of USD 175,000
- Main applicant with up to three qualifying dependents: a non-refundable contribution of USD 200,000
- Any qualifying dependant of the main applicant, other than a spouse: a non-refundable contribution of USD 25,000 per dependant
Note that diligence fees mentioned before applies here. 2. Real Estate Investment
You must purchase authorised real estate to the minimum value of USD 200,000. On approval of an application the following Government Fees also apply:
- USD 25,000 for a single applicant;
- USD 35,000 for a main applicant applying with his or her spouse;
- USD 35,000 for a family of up to four persons, including the main applicant and up to three dependents;
- USD 50,000 for a family of up to six persons, including the main applicant and up to five dependants; or
- USD 70,000 for a family of seven persons or more, including the main applicant and six or more dependents.
In order to qualify for citizenship, you must hold authorised real estate for 3 years from the grant of citizenship. In this period the property can be rented out. Furthermore, you may only resell that real estate under the Citizenship by Investment Programme after 5 years of receiving citizenship.Key Facts
Why do you need Kalido?
- Diplomatic Passports are NOT part of Dominica's CBI.
- Dominica Citizenship can be passed on to newborns by registering them for a fee of just $500, making the program very popular with young couples thinking of starting a family.
- In Dominica, citizenship-by-investment is based on Section 101 of the Constitution and Sections 8 and 20 (1) of the Citizenship Act.
- Applicants no longer have to submit personal references, audited financial reports, bank references, or vaccination records.
- No Income Tax for non-resident citizens. No wealth, gift, inheritance, foreign income or capital gains tax and no personal income tax for residents.
- Citizenship is granted for life
- The Government of Dominica does not inform the country of your current citizenship or residency about your second or third citizenship. It's all confidential.
- Main applicant must be over 21 years old, be of outstanding character, pass a detailed background check, hold an account with a reputable bank, and be of good health
Kalido will take you there in 7 steps!
- Projects must create local employment during construction and operation. Developers must have a relevant track record of success. Our experience leads us to the best investment funds.
- After the fifth anniversary of the grant of citizenship, economic citizens are allowed to sell their shares or suites to individuals also seeking citizenship from Dominica through its Citizenship by Investment Programme. Kalido Private Office commits to using its network to assist owners throughout this process.
- File preparation. Advisory, government and due diligence fees are due at this stage.
- Application submission.
- Comfort Letter is issued by the CBIU.
- Applicant transfers the Investment.
- Upon approval, applicant and family must sign the Oath of Allegiance.
- Certificate of Naturalization is issued.
- Application and reception of Passports. Congratulations, you are now Dominiquais!