Real Estate in Dominica
Who can buy a property in Dominica
Dominica allows citizens and residents of the country, as well as foreigners, to buy real estate. They can invest in any property on the island.
Foreigners not participating in the Dominica Citizenship Program are required to obtain a special land ownership licence. Its cost is 10% of the land plot price.
Property values by county of Dominica
The government of Dominica does not publish property price statistics. Real estate experts estimate 1 m² of the island housing at $500—$5,000.
The most expensive properties are located in the capital city of Roseau, as well as in Portsmouth, Salisbury, and Canefield. The cost per 1 m² in these cities is about 10% higher than the national average. Objects located in coastal resort areas of Dominica are also expensive.
Property purchase procedure in Dominica
The process of buying real estate on the island is standard for Caribbean countries. First, the buyer chooses a property in Dominica and obtains a land ownership licence. For those participating in the citizenship program, a licence isn’t required.
The parties conclude a preliminary purchase and sale agreement: the buyer pays 10% of the object’s value, and the seller reserves the property. As soon as all the documents are ready, the parties sign the main contract. The buyer transfers the remaining amount, and then receives a certificate of ownership in the state registry of the country.
Property purchase taxes in Dominica
In Dominica, there is no capital gain tax on real estate, ownership transfer, and a single tax. The buyer pays mandatory fees — stamp, legal, and judicial — as well as an insurance fund contribution. Additional expenses for the property buyer are about 10,5% of the transaction amount.Read the article
Citizenship of Dominica by the purchase of real estate
By investing in real estate, foreigners can obtain citizenship in Dominica. The main condition is to solely buy government-approved properties. These are mostly hotel complexes.
The minimum real estate investment is $200,000. The property can be sold after three years of ownership, which is the shortest period among Caribbean citizenship programs. But if the investor wants to sell the property to another program participant, the wait is five years.Read the article
Property types in Dominica
Real estate investment in Dominica
When you invest in property in Dominica, you can apply for the Citizenship by Investment program, and become a Caribbean national. The minimum investment is $200,000.
The conditions of the Dominica Citizenship by Investment program include purchasing a property in a government-approved project for at least $200,000. Authorized property majorly consists of shares in high-end real estate. This includes resorts and spa complexes, eco retreats, hotels, as well as apartments, villas, and condos in branded hotel complexes. The program applicants can also invest in developing projects and objects under construction.
Investment property brings profit to the owners: 2%—8% a year. The island’s popularity among high-net-worth tourists makes it possible.
Investors can resell their property after fulfilling the conditions of the Citizenship by Investment program in Dominica. They can do it after three years of ownership, which is the shortest holding period among all Caribbean investment programs.
You can select a qualified real estate property remotely and participate in the Dominica Citizenship by Investment. Immigrant Invest will assist you in selecting a government-approved project from our real estate database. While your citizenship application is processing, we will help reserve the object for you, with subsequent purchase. If you want to resell the investment property in the future, our real estate team will arrange the best deal for you.
Immigrant Invest is a licensed agent for government programs in the Europe Union and the Caribbean.
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