Caribbean islands are in general quite popular in terms of second passport opportunities. Dominica is among those paradise-like islands and improves its popularity by attracting more high net worth investors from all around the world every year. As Dominican citizenship gains more value in public eye, its citizenship by investment program attracts more attention and Dominica reaps the fruits of its correctly placed policies as to how to get Dominican passport.
Dominica is located between the French overseas territories of Guadeloupe and Martinique. The island has an amazing nature with numerous rivers and waterfalls, green mountains and beautiful ocean views. Population of the country is around 75,000. The official language of the island is English, but Creole is also spoken. With its reputation as a safe, breath-taking country, Dominica is a great place to live.
Dominica’s Citizenship by Investment Program
The only program older than Dominica Citizenship by Investment Program out there is St. Kitts and Nevis’ Program. Thanks to its experience in the area, Dominica is one of the fastest countries to grant second passport to its applicants.
Dominica Citizenship by Investment Program is enshrined in Dominica Constitution. So, not only the program is one of the oldest ones, it is also protected by the country’s constitution. Dominica offers economic citizenship to investors who donate $100,000 to the country.
Dominica citizenship is usually granted within six months. However, cases differ between three and nine months. Of course, there are some unusual cases where it takes more than 9 months. Because of its low price and fast processing time, Dominica is a viable option for people who want a fast second passport. It is the cheapest economic citizenship option in the world at the moment.
Benefits of Dominica Citizenship by Investment
Dominica Citizenship by Investment Program does not require residency. Qualified investors around the world do not need to reside in Dominica throughout their application process. This feature of the program is particularly attractive for investors with busy schedules. Also, people who want to have a second passport as an insurance policy enjoy this feature.
Others that particularly find Dominican visa attractive are the ones that have inefficient visa-free travel on their current passport. Dominica passport grants access to more than 140 countries without going through the entire headache and the paperwork of visa applications.
How Do You Get a Dominica Passport?
Dominica Citizenship by Investment Program is as straightforward as it gets. The interested investors make a donation or invest in real estate and they get a passport. Provided that there occurs no problem in the due diligence process, the program is very straightforward.
The donation route is the oldest and simplest option available. Most of the time, this option is labelled with the $100,000 price tag, but there are a few more details. The price might vary under different circumstances. For instance, the pricing for a single applicant and a couple are different.
- Single Applicant: $100,000 non-refundable contribution
- Main Applicant and Spouse: $175,000 non-refundable contribution
- An applicant with up to 3 Dependents (applicant plus spouse and two children below the age of 18): $200,000 non-refundable contribution
- Additional Dependents (4+): $200,000 non-refundable contribution and $25,000 for each additional dependent.
However, donation option is really not more complicated than it looks above. As long as the investor meets the demands and pays the fees, the process does not get complicated at all.
Second option of Dominica Citizenship by Investment Program is the real estate investment option. Dominica offers economic citizenship to those willing to purchase approved real estate in the country. Minimum investment requirement for the real estate option of Dominica is USD $200,000.
It is possible to make a joint investment in the real estate option. As long as each applicant meets the requirements, this option is viable.
- Authorized Real Estate Purchase: $200,000 (minimum)
- Government Fee
- Single Applicant: $25,000
- Main Applicant and Spouse: $35,000
- A family of up to 4 Persons: $35,000
- A family of up to 6 Persons: $50,000
- A family of 7 or More Persons: $70,000
This option does not exclude the due diligence fees of the donation option.
This option does not include all the real estate in the country. It is not enough to just to meet the minimum investment requirement. The investment should also be made in a government approved real estate. This may not look as advantageous as buying from an open market with a wider array of options. However, this way, investors buy property of value that they can sell a few years later without losing money.
Background of Dominica Citizenship by Investment Program
Dominica launched its citizenship by investment program in 1993 as one of the firsts in the area. Since then, it successfully constituted a worthy option for businesspeople from every corner of the world. Increasing its popularity every day, Dominica’s citizenship by investment program also benefits from its experience gained by the long run of its success. By simplifying the process of evaluation and strengthening the due diligence stage, Dominica continued to upgrade its Dominica citizenship by investment program towards perfection.