Cost of Dominica citizenship by investment

The Dominica Citizenship by Investment Program (CIP) has been operating since 1993. From 2017 to 2020, more than 5,800 investors received citizenship by investment in Dominica, and the state earned an income of $1.2 billion.

A foreigner can obtain Dominica citizenship by investment if they are at least 18 years old, have no criminal records, have no serious illnesses, and can prove that the money for participation in the program was earned legally.

All the terms for Dominica’s citizenship by investment

Investor’s family members. In the application for Dominica economic citizenship, an investor can include family members such as spouses, children, parents, and grandparents. They can obtain Dominica nationality at the same time as the investor or join later after the investor gets a passport.

Age requirements for participation in the Dominica investment citizenship program for investor’s relatives are the following:

• under 18 for the investor or their spouse’s children;

• 18—30 for the investor or their spouse’s children who study at a university;

• 18—25 for unmarried daughters who live with the investor or fully depend on them;

• 65+ for parents and grandparents.

To include parents, grandparents, and children over 18 in the application, the investor or the investor’s spouse confirms that they support the relatives financially. For this, the lawyers of Immigrant Invest draw up a particular statement — an affidavit with checks or bank statements attached to it.

A spouse of the investor does not need to be financially supported to get Dominica citizenship. However, they must be of the opposite sex and have no criminal records.

What unique opportunities the Dominica investment program offers

The Dominica citizenship program offers applicants two investment options to choose between:

• $200,000+ — a contribution to the Dominica Economic Diversification Fund (EDF);

• $200,000+ — in villas, apartments, a resort, a hotel complex, or shares of a real estate project approved by the government.

The government spends program income on educational grants, hurricane-resistant homes, schools, and clinics. Dominica’s citizenship program is the source of funding for geothermal energy projects.

Due Diligence. For the citizenship application to be approved, the CBI Unit checks the investor and their family members over the age of 16 for reliability. With the help of this Due Diligence, the government of Dominica makes sure that future citizens do not have problems with the law and that the money for investment is obtained lawfully.

The program’s legal department checks to see if applicants have a criminal record or denials of citizenship and residence permits, followed by an inspection of income sources. The cost of Due Diligence is $7,500 for an investor and $4,000 for each participant over 16.

An interview is a mandatory step during Due Diligence. It takes place online and can host all family members over 16 at once. However, if a family member is late or cannot join on the appointed day and time, another interview is scheduled for them. The fee is $1,000 per interview.

Other fees include the following:

• $1,000 is a processing fee per application;

• $500 is a naturalisation certificate fee per applicant;

• $250 is a passport fee per applicant;

• $500 is for courier services.

Besides, the investor pays for services of a licensed agent, bank commissions, delivery costs, notarisation, and translation fees. The total amounts depend on the composition of the family and necessary documents.

Immigrant Invest is a licensed agent of the program and our lawyers can help you calculate the exact cost of participation.

The contribution to the Economic Diversification Fund is charitable and is not returned to the investor. The minimum investment amount will be:

• for an investor — $200,000;

• for a family of up to four people — $250,000.

An additional $25,000 is paid per family member from the fifth applicant under 18 and $40,000 for those over 18.

The minimum investment in real estate is the same as the contribution to the Economic Diversification Fund — $200,000. At the same time, investment property costs do not depend on the number of participants.

The investor can purchase an apartment, a villa, or a hotel. It is also possible to buy shares of one of such properties worth $200,000. When buying a share, the investor becomes a shareholder of the hotel: the bonus includes free accommodation in luxury apartments for up to two weeks a year.

In addition to the cost of the property itself, the investor pays a government fee:

• $75,000 for a single investor;

• $100,000 for a family of up to 4 people;

• $25,000 per family member under 18, starting with the 5th applicant;

• $40,000 per family member over 18, starting with the 5th applicant.

The final Dominica citizenship cost depends on the composition of the family.

The potential income from renting out real estate is 2—5% per annum. The investor does not need to worry about the maintenance of the property: the management company pays bills, attracts tourists, and hires staff for renovation and room service.

According to the law, it is possible to sell real estate after 3 years. It is the shortest minimum ownership period among the Caribbean CBI programs. The property must be owned for 5 years if the investor wants to sell it to a future participant of the CBI program.

Real estate prices in Dominica rise by an average of 4% per year. After the sale, investors receive a profit of 2 to 8%. You do not need to be present in the country to sell real estate, as the transaction takes place remotely. Additionally, there is a sales tax of 6%.

The government approves the estate for the Dominica program, which guarantees the transaction’s legality. Elite hotels and resort complexes are approved for the program. They are run by international companies with real estate experience in Europe, America, and the Caribbean.

Examples of properties in Dominica

Dominica, Roseau

$220,000+

Share in a resort on the coast of Dominica managed by Hilton

1—3

Dominica, Portsmouth

$220,000 — $320,000

Share in a five-star resort managed by Autograph Collections (premium branded by Marriott)

1—2

Dominica, Portsmouth

$220,000+

Share in a five-star hotel managed by Intercontinental

Dominica does not generally limit the period of adding family members. However, children under 18 born or adopted can obtain citizenship only within 5 years after the investor got their passport.

The time affects the amount of fees for family members. It is cheaper if the investor became a citizen less than a year ago.

If the investor or someone from their family has got married after obtaining citizenship in Dominica, the fee for joining a husband or wife will be $75,000. The amount does not depend on when the investor received the passport.

There is no need to pay extra for newborns and adopted children — it is enough to pay government fees.

In addition to the state fee for joining, the Dominica citizenship by investment cost for family members includes:

• $4,000 — the state fee for the Due Diligence check for each family member over 16;

• $1,000 — the government fee for processing for the whole family, regardless of the number of people;

• $500 — a certificate of naturalisation fee;

• $250 — a passport fee.

The main applicant undergoes Due Diligence again with family members if more than a year has passed since the initial application for Dominica citizenship by investment. Due Diligence for the main applicant is $7,500.

1. Freedom of travel worldwide. The list of visa-free destinations for those with a Dominica passport includes over 140 countries, including the Schengen states, Singapore, and China.

Terms of visa-free stay:

• Schengen Area — up to 90 days every 180 days;

• Singapore — up to 30 days a year;

• China — up to 30 days a year.

2. Tourist visa to the USA for 10 years. A B‑1/B‑2 visa entitles you to visit the United States for business or leisure purposes. US consulates accept visa documents in any country where entry is allowed with a Dominica passport.

3. Access to services of foreign banks. Foreign banks strictly check the documents and might refuse to open an account. It is easier for those with Dominica economic citizenship to use banking services. For example, some foreign banks do not ask for a lease agreement and an insurance policy number to open an account. Therefore, the second citizenship allows you to make settlements without currency control and additional commissions.

4. Preferential taxation for tax residents of Dominica. There are no taxes on gifts, property, and inheritance. The tax on income earned outside the country is 0%.

5. Business development abroad. It is easy to register an international company in Dominica to work with foreign partners. The government does not disclose personal and financial information about business owners, as their data is not entered into the commercial register when the company is registered.

The Dominica passport helps with global mobility. Citizens of this country are allowed free entry to 140+ of the 200 states.

Dominica has a reputation for being a peaceful and friendly nation. The list of visa-free countries grows every year: the government decides on new agreements for visa-free entry.

To become a tax resident of Dominica, you need to live in the country for at least 183 days a year. For a company to obtain tax resident status, it must be registered in Dominica.

A non-resident does not need to pay any taxes in Dominica if they do not receive income in the country. There are no taxes on dividends, inheritance, and capital gains for residents, but there is a tax on global income.

The tax rate on global income is progressive: 15 to 35%. In general, living in Dominica is beneficial if the primary source of income is dividends and interest.

Dominica concluded two treaties on double tax avoidance. The first one is multilateral with 10 other Caribbean countries, and the second is with Switzerland. If the investor has the nationality of another country, it will be necessary to comply with its tax policy as well.

Dominica participates in the international Common Reporting Standard (CRS) system and exchanges financial information. Like other Caribbean countries, Dominica does not disclose information about the company’s owners: the data is not entered into the commercial register.

Registration of an international business company (IBC) takes up to two weeks. The registration cost is about $2,100, and the minimum charge for maintaining a company is about $1,400 per year.

Documents for registration:

• agreement on the establishment of a company;

• order on the appointment of a director;

• Dominica office registration certificate;

• statement from the company owner about the age of the majority.

It is easier for Dominican tax residents to open an account in international banks. This helps to transfer currency faster and without additional fees.

1. Dominica grants citizenship under the state citizenship by investment program operating since 1993. The timeframe for becoming a citizen this way is 6+ months.

2. There are two investment options: a contribution to a state fund and a real estate purchase.

3. The fund contribution requires at least $200,000 and is non-refundable.

4. The minimum investment in real estate is $200,000 with a government fee of $75,000 for a single applicant. Only government-approved projects qualify. The property can be sold in 3—5 years.

5. Associated costs include Due Diligence, processing, passport, and legal fees.

6. The total expenses depend on the number of family members under one citizenship application. A single investor will spend at least $210,750, while a family of four needs at least $265,500.

7. Dominica citizenship provides global mobility, tax benefits, banking and business opportunities.