Dominica Citizenship by Investment
Dominica is a lush and fertile mountainous island in the Eastern Caribbean Sea. This tropical island is a year-round destination, with average temperatures of 25° C (77° F) in the winter and 28° C (82° F) in the summer. The Commonwealth of Dominica's conservation and restoration efforts have resulted in one of the region's most untouched and unspoiled islands. Beautiful beaches with unrivaled diving reefs reach swaths of rainforest that cover hills and cross rivers and waterfalls.
The official language of the nation is English, but French is also commonly spoken. Dominica is a representative democracy with an English common law legal structure. The country's income taxes are progressive, beginning at 15% and ending at 0%, with no taxes on international income for citizens. Personal net income, inheritance, and capital gains taxes are all exempt. Dominica passport holders can travel to over 140 countries without a visa. From start to finish, obtaining citizenship with the help of IRC will take 3-5 months.
Citizenship in Dominica Has Its Advantages
Residents are exempt from net worth, capital gains, inheritance tax, and international income tax.
- The claimant, their children, spouse, parents, and grandparents are all granted full citizenship and passports, as well as dependent children up to the age of 31, with the possibility of dependent siblings between the ages of 18 and 25.
- Visa-free travel to 141 nations, including the European Union, the United Kingdom, Turkiye, Singapore, and other Caricom countries.
- Dual Citizenship is not limited in any way.
- There is no requirement for a presence in the region.
- Applicants may also get biometric identification from Dominica, such as a national ID, a driver's license, or a tax ID.
What Does It Take to Become a Citizen?
The Citizenship - by - Investment Unit (CBIU) will grant full citizenship and passport holder status to individuals who make a substantial monetary investment or donation while adhering to the rules set forth by Dominica's governing authority. There are currently two investment options available:
- A property worth at least $200,000 USD was acquired from a government initiative that met the requirements.
- A non-refundable contribution to the Economic Diversification Fund, beginning at $100,000 USD.
Option 1: Real Estate
Purchasing a real estate asset while pursuing citizenship is a highly attractive choice that provides protection. You may use the property as a second home or holiday home, as well as rent it out to generate income. IRC can provide additional assistance with the purchase of your Dominica property due to its knowledge of the local real estate market. For your convenience, all recommended, eligible properties are handled.
GThe following are the current fees:
- The minimum investment for a single applicant is USD 233,810, which includes a minimum property purchase of USD 200,000 plus government, visa, and due diligence fees. The property's additional closing costs are variable. Stamp Duty (Real Estate Transfer Fee) is charged at a rate of 2.5 percent for the seller and 4% for the buyer.
- The required investment for a family of four or more is $248,740.USD, which includes a minimum property purchase of $200,000.USD plus government, passport, and due diligence fees. The property's additional closing costs are variable. Stamp Duty (Real Estate Transfer Fee) is charged at a rate of 2.5 percent for the seller and 4% for the buyer.
Option 2: Economic Diversification Fund
The EDF is a government-funded program that supports socio-economic initiatives. The emphasis is on public and private sector projects such as the construction of schools, hospitals, and sports centers, among other things.
The following are the current fees:
- The minimum investment for a single applicant is $108,810.USD, which includes a donation to the EDF of $100,000.USD plus government, visa, and due diligence fees.
- The minimum commitment for a family of four or more is $188,740.USD, which includes a donation to the EDF of USD 175,000 plus government, visa, and due diligence fees.
Legal Requirements
- Applicants must be at least 18 years old.
- Applicants must not be involved in a criminal case or be considered a security or reputational threat.
- Applicants must not be restricted from traveling to any of the 141 countries that do not need a visa.
For More Information
Please do not hesitate to contact the IRC if you need any additional details. From the beginning to the end of the procedure, we provide technical assistance and maintain a safe transaction. If required, additional assistance in locating and purchasing real estate may be offered.