Cost of Dominica citizenship by investment

Cost of Dominica citizenship by investment

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

• from $100,000 — a contribution to the Dominica Economic Diversification Fund (EDF);
• from $200,000 — in shares, villas, apartments, a resort, or hotel complex approved by the government.

Obtaining a passport is not enough to fulfil the investment condition. Other costs include Due Diligence fees, application processing fees, and government fees for real estate investments.

Furthermore, the costs of participating in the program include bank, notarisation, shipping, and paperwork fees. The amounts depend on the situation: the composition of the family and the necessary documents. The lawyers of Immigrant Invest and a licensed agent of the program can calculate the exact cost of participation.

What unique opportunity can the Dominica investment program offer

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.

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.

Cost of Due Diligence for Dominica economic citizenship

For the citizenship application to be approved, the program department checks the investor and his 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 years old.

Who can obtain Dominica citizenship by investment

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

Who can obtain Caribbean citizenship with an investor

In the application for Dominica economic citizenship, an investor can include family members as spouses, children.

Family members can obtain Dominica investment citizenship in two ways: at the same time as the investor or by joining later when the investor receives a passport.

To include parents 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.

Some countries only allow adult children of investors to participate in the citizenship program if they are at university or live with their parents. Dominica holds no such requirements and considers that the investor's children, from 18 to 30 years old, may not study and could live separately.

Requirements for participation in the Dominica investment citizenship program

Individual cost
calculation of the
Dominica citizenship

Get the cost calculation

How to join relatives in the program if the investor has already received a Dominica passport

Dominica does not limit the period of joining family members. Moreover, if relatives were initially eligible to participate in the program, the deadline for submitting documents affects the amount of investment and fees. Passports for family members would be cheaper if the investor became a citizen less than a year ago.

Cost for family members to obtain a Dominica passport $50,000

If the investor or someone from his family has got married after obtaining citizenship in Dominica, the fee for joining a husband or wife will be $75,000. The amount was disregarded 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 total joining costs include:

• $4,000 — the state fee for the Due Diligence check for each family member over 16 years old;
• $1,000 — the government fee for processing for the whole family, regardless of the number of people;
• $500 — the government fee for processing an application for children born or adopted after obtaining citizenship;
• $250 — fee for naturalization certificate.

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.

Cost of Dominica citizenship when contributing to the state fund

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

• for an investor — $100,000;
• for the investor and one of the family members (spouse, child, parent) — $150,000;
• for a family of up to four people — $175,000.

Additional $25,000 is paid per family member from the sixth applicant under 18, and $50,000 for those over 18.

Cost of investments in the Dominica EDF with fees 

Cost of investing in real estate in Dominica $200,000

The minimum investment in real estate is higher than the contribution to the Economic Diversification Fund. At the same time, investment property costs do not depend on the number of participants.

From 2018 to 2021, investors were twice as likely to choose the real estate option.

According to the law, it is possible to sell real estate after three 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.

The investor can purchase a share, apartment or villa in the hotel. The least expensive and popular option is buying a share: the minimum cost is $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.

Information about the main options for real estate investment in Dominica is explained in the article "Dominica citizenship by investment: 5 options for real estate investment".

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.

In addition to the cost of the property itself, the investor pays a government fee. Its amount depends on the composition of the family.

State fee for buying real estate:

• $25,000 — for an investor;
• $35,000 — for married couple;
• $35,000 — for a family of 4;
• $50,000 — for a family of 5.

Costs of investments in real estate in Dominica, including fees

Examples of real estate in Dominica

Dominica, Portsmouth

$220,000

Share in a five-star hotel managed by Intercontinental

Dominica, Portsmouth

$200,000

Share in the hotel complex of 72 eco-cottages in the rainforest

Benefits of Dominica economic citizenship for an investor

Freedom of travel worldwide. The list of visa-free destinations for those with a Dominica passport includes 145 countries, including the Schengen states, Singapore and Hong Kong.

Terms of visa-free stay:

• Schengen zone — up to 90 days of half a year;
• Great Britain — up to 180 days a year;
• Singapore — up to 30 days a year;
• Hong Kong — up to 90 days a year.

A tourist visa to the USA for ten 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.

Access to services of foreign banks. Foreign banks strictly check the documents and might refuse to open an account. It is easier for those of Dominica economic citizenship to use banking services. For example, some foreign banks are not asked 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.

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%.

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.

Which countries are visa-free with a Dominica passport

A Dominica passport helps travel even in a pandemic. Citizens of this country are allowed free entry to 144 of the 200 states of the world.

Dominica is a former British colony. It is part of the Commonwealth of Nations, which the British monarch heads. Citizens of the countries — members of the Commonwealth travel without visas to the states that are part of it.

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.

Visa-free destinations for citizens of Dominica

What gives the investor the status of a tax resident of Dominica

Between Dominica and some other countries, there are agreements on avoiding double taxation. The agreement allows you to choose a country according to the legislation to pay taxes.

Taxes for individuals and companies in Dominica

To become a tax resident, 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: from 15 to 35%. In general, living in Dominica is beneficial if the primary source of income is dividends and interest.

Taxes in Dominica

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.

Foreign partners trust Dominica IBCs. According to studies by Environics International, for banks and potential partners, the company's financial performance is a determining factor for cooperation and trust.

It is easier for Dominican tax residents to open an account with any international bank. This helps to transfer currency faster and without additional fees. Information about the banks of the Caribbean countries is explained in the article "The best banks in the Caribbean: where to open accounts and keep savings in 2021".

Five steps to obtain Dominica citizenship

PT4M

Contact a licensed program agent

Contact a licensed program agent

Immigrant Invest is the only licensed agent of the Dominica program with our own compliance department.

The certified Compliance Anti Money Laundering Officer will study the applicant’s situation in detail, assess the possible risks of failure, advise and offer solutions.

Sign an agreement with a licensed program agent

Sign an agreement with a licensed program agent

Only a licensed agent can process applications for citizenship by investment. Dominica Citizenship by Investment Unit (CBIU) does not accept direct applications.

The Government of Dominica has empowered Immigrant Invest to apply for citizenship on behalf of the applicant. You can complete a contract in one of our offices or remotely.

Prepare documents

Prepare documents

Immigrant Invest lawyers make a list of required documents. They fill out government forms, translate them into English and notarise documents. The application is then sent to the Government of Dominica.

Wait for the decision from the government of Dominica

Wait for the decision from the government of Dominica

Due Diligence takes two to six months. If it is successful, the application is approved.

The approval is sent in an official letter to the address of the licensed agent at Immigrant Invest. After receiving a favourable decision, you need to fulfil the investment condition. This is given 30 days after permission to issue citizenship.

Obtain a passport and a naturalisation certificate

Obtain a passport and a naturalisation certificate

Obtain a passport and a naturalisation certificate at the Immigrant Invest office or a convenient address through courier delivery. Dominica passport is valid for 10 years.

Frequently Asked Questions