Citizenship of one of the Caribbean countries solves a number of problems related to visa-free travel around the world, taxes and educating children in European universities. The cost of citizenship is acceptable for the majority of affluent people. A story of our clients from St. Petersburg who received citizenship of Dominica is a striking proof of this.
Denis, a 43-year-old businessman from St. Petersburg, and his wife Anna, a 34-year-old housewife. The couple has two children: Egor aged 13 and Maria aged 11.
Goals and objectives
Denis keeps his savings in a secure European bank which completely satisfies his requirements. Recently, the bank has asked him to provide information on his tax residency. For this reason, Denis needs to become a tax resident of a foreign country as soon as possible.
Our client’s business is closely linked with his partners in the Netherlands, Austria and Germany. He must often travel to these countries to meet his colleagues and supervise production. However, he has repeatedly faced the problem of timely visa applications which led him to cancel important business trips. Therefore, it was necessary to obtain an official status abroad which would allow him to travel the Schengen area visa-free.
Child’s study in London
The couple had planned to send the older child to study at one of London schools for a year to prepare him for university education. To do so, they needed the UK visa. So one of the challenges our clients faced was to obtain an official status abroad which would allow them to travel to London without restrictions.
Searching for a solution
Denis was considering a few options to obtain residence in Europe by investment. First, he tried to understand the intricacies of investor programs in different countries on his own.
- Maltese or Cypriot citizenship would have solved all the problems of Denis but he was not ready to invest the required funds (EUR 1-2 million)
- Permanent residence in Hungary was tempting due to the small investment but it was a one-sided solution. The family would be able to travel to the Schengen countries, but traveling to the UK would still require a visa. In addition, other countries would treat Denis as a citizen of Russia which left the problem with residence unsolved
- Residence in Spain or Portugal offered an opportunity to invest in real estate, access to the Schengen area and a tax residence. However, traveling to the United Kingdom continued to be a problem. Besides, tax system in these countries is not the most beneficial for businesses
Contacting Immigrant Invest
We analyzed the situation, objectives and requirements of Denis and offered him the most attractive option: citizenship of Dominica.
- To get Dominican passports for the whole family, Denis would need only $257,000. These costs are much lower than in any European country. Besides, these are the costs of obtaining citizenship for life, not just temporary residence permits
- Dominican passports enable its holders to visit the Schengen area and the UK visa-free
- Upon obtaining Dominican passport, one can become a tax resident in this country
- All paperwork takes only 2-3 months which perfectly suited Dennis since he needed to provide his bank with information about his tax residence
- The application process does not require direct presence in Dominica and there is no residence requirement
- Dominica recognizes second citizenship and maintains the confidentiality while issuing its passports (and other documents), so the family does not need to give up on Russian passports
Having signed a contract with Denis, we helped him to collect a package of documents and letters of references as well as fill out questionnaires. The following documents were required:
- Passports of adult participants of the program
- Birth certificates of all applicants
- Marriage certificate
- Reference letters for the main applicant, from the bank, a letter of employment and references for children from schools
- Questionnaires for all participants in the program
- Documents confirming the investor’s income
- Documents confirming there was no criminal record for adult participants
- Letter to the Ministry indicating the reasons for applying for citizenship
- Higher education diplomas
- Medical certificate
The documents have been accepted in the nearest consulate of Dominica. Once the candidates’ participation in the program was approved, the country’s government has started due diligence checks which took 1.5 months. After that, the papers were filed to the Government of Dominica for the final processing.
Important! To obtain citizenship in Dominica, it is necessary that the applicant receives the local papers: a social card, a driving license and a registered place of residence. We have helped Denis to get these papers remotely including renting an apartment to register an address.
Solving the problems
Two and a half months after contacting Immigrant Invest, Denis and his family were notified they have been granted citizenship of Dominica. They arrived at the consulate to get their passports.
Thus, the family solved all of the challenges:
- Denis has provided his European bank with data on his tax residency in Dominica
- he is free to plan his trips to any country in Europe including the UK
- Egor enrolled in a London school and was granted his student visa for the entire period of education right at the airport
- Dennis plans to register a business in Dominica. According to the country’s laws, he would not need to pay taxes on income generated abroad
- his wife got a safe and comfortable second place of residence in the event of economic or political turmoil at home
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