Advantages of Getting a Passport in Dominica
The program is designed in a manner enabling to attract as many investors as possible. Local authorities are interested in the investments inflow and provide favorable conditions to the applicants, thanks to which it is considered one of the most accessible among all countries of the world. Among the advantages of the program:
- the opportunity to visit 120 countries without a visa (the countries of the Schengen Agreement as well as the states of the Caribbean and British Commonwealth);
- security and stability of the country;
- the opportunity to have dual citizenship;
- no requirement for permanent residence of citizens in the territory of the state;
- lack of requirements concerning age, financial status (except for the ability to invest and pay the established fees), knowledge of foreign languages, education, etc.;
- issued on a lifetime basis;
- favorable tax legislation, which does not provide for the taxation of inheritance and income received outside the state;
- payment of duties and fees upon the consent of local authorities ‒ that eliminates the risk of wasting money without any results;
- the jurisdiction offers one of the cheapest programs of this kind.
The essence of the Program
In order to develop different sectors of the economy, the Government of the State has implemented in 1993 the Economic Citizenship Program. The main aspects are established in different laws and acts, including the Constitution.
The government directs the investments incoming under this program to finance the development of the low-tax sector as well as the construction of social facilities: schools, clinics, and stadiums. The funds received from investors are also invested in the tourism sector, in the development of agricultural sector, and in infrastructure projects.
Among the conditions that shall be met to get a second citizenship in Dominica:
- reaching the majority age by the main applicant;
- passing verifications according to the results of which it will be possible to conclude about the proper reputation (for instance, among the verifications, the following shall be noted: the verification for criminal records and problems with the law as well as the absence of income obtained illegally);
- confirmation of good health;
- the opportunity to make an investment in the established amount.
Along with the applicant, the following persons are able to apply for a second citizenship in Dominica:
- spouse(s);
- the child of the main applicant or his/her spouse who is not older than 18 years;
- the child of the main applicant or his/her spouse is fully dependent on his or her parents, whose age is from 18 to 30 years and who has been attending a recognized full-time higher education institution since the age of 18;
- the unmarried daughter of the main applicant who is fully dependent on her parent and who is not older than 30 years;
- the child of the main applicant or his/her spouse who is fully dependent on his or her parents, who is over 18 years old, but who suffers from physical or mental disability;
- parents, grandparents of the main applicant, or his/her spouse who live together with the main applicant and are dependent on him/her and who are over 55 years old.
The child can be biological as well as adopted. Brothers and sisters of the main applicant or his/her spouse who are younger than 25 years old and are dependent on them may also be included in the application.
Local legislation foresees two schemes to register a passport in Dominica:
- A contribution of USD100,000 for one applicant. The amount of this contribution shall be increased to USD150,000 for the applicant and his/her spouse, up to USD175,000 for the applicant, his/her spouse, and 2 children. For each additional dependent, starting with the third ones, an additional contribution of USD25,000 shall be provided.
- An investment in real estate in the amount of USD 200,000 that shall be kept for 5 years at least, after the expiration of which, it is possible to sell the acquired facility. The advantage of this option is the opportunity to return the invested amount of money by renting out the object.
For foreign investors who are acting under the second scheme, the payment of a number of additional duties and fees, including for each additional family member, is foreseen.
Procedure for obtaining
It takes from three to six months. First of all, it is necessary for the applicant to collect a package of documents that includes:
- confirmation of the investment of funds in the amount of at least USD 200,000;
- personal and professional recommendations;
- details on the stability of the financial history;
- certificate on the absence of criminal record;
- a set of medical certificates.
The application submission shall be carried out through an authorized agent. The process itself requires the completion of a number of preparatory actions:
- Choosing an authorized agent.
- Negotiation with an authorized agent of the list of documents that shall be submitted in your particular case as well as the correctness of formalization.
- Formation and submission of the application. Correspondence on behalf of the applicant will be received by an authorized agent. He/she will also handle negotiations with government officials on the issue of passport registration in Dominica.
Directly within the procedure itself, the following stages shall be distinguished:
- transfer of a deposit, the amount of which shall be at least 10% of the investment amount and the conclusion of an agreement on the purchase and sale of the object;
- registration of the application and documents;
- passing verifications and obtaining prior consent from the local authorities;
- payment of the full value of the real estate as well as paying the necessary state fees and payments;
- issuance of the Owner’s Certificate;
- providing the Owner’s Certificate to the state authorities and obtaining a Certificate of Citizenship and a passport of Dominica.
The process of reviewing the application and conducting all required verifications takes from 60 to 90 days. The advantage of this program is that there is no need to carry out personal interviews.
It is important to emphasize that the implementation of the investment option by making a contribution to the government fund shall be carried out within 30 days after the approval of obtaining Dominica economic citizenship by local government agencies. Up to this point, the investment amount shall be deposited, from which, in case of refusal, the funds can be received back.
When implementing the real estate investment option, the applicant should deposit 10% of the investment amount and sign a purchase and sale agreement. After receiving approval from local government officials, the applicant will have 7 days to pay the entire expense of the property acquired.
Tranquilitiy Beach Dominicia Resort as an object for investment
Non-residents are allowed to make investments in the Tranquilitiy Beach Dominicia resort, which is located on the island’s coast close to the town of Salisberry. When the construction is fully completed, the resort will operate under the CURIO brand of the world-renowned Hilton network. The complex will significantly directly affect units, studio rooms, and villas. It also includes a wide range of first-rate amenities such as wellness and SPA centers, gyms, swimming pools, a restaurant complex, a private parking station, and an office.
Investing funds in Tranquilitiy Beach will enable the investor to submit an application and successfully complete the verification procedure subject to compliance with the formal requirements of the legislation. The resort is approved by the government.
To participate in the project, it is required to make investments in the following amounts:
- acquisition of a share in Tranquilitiy Beach Dominicia in the amount of USD 220,000;
- payment of government fees in the amount of USD 53,750;
- payment for the identity verification procedure in the amount of USD 7,500;
- making a registration fee that shall comprise USD 8,800.
Additionally, fees shall be paid for each family member included in the application for obtaining citizenship.
