Citizenship by Investment: The Commonwealth of Dominica

(Source: Citizenship By Investment Unit of the Government of the the Commonwealth of Dominica)

 

ABOUT THE COMMONWEALTH OF DOMINICA

The Commonwealth of Dominica is a mountainous Caribbean island nation. This 289 square mile island is referred to as the “NATURE ISLAND OF THE CARIBBEAN” because of its many waterfalls, hot springs, rivers and undisturbed tropical landscape.

The island nation has a population of 72,000 inhabitants. The capital city is Roseau. It obtained its independence from the United Kingdom (UK) in 1979. It is a member of the UN, the 53 member Commonwealth of Nations, Caribbean Community and Common Market (CARICOM) and the Organization of Eastern Caribbean States (OECS), along with St. Kitts & Nevis, Antigua & Barbuda, St. Lucia, St. Vincent & the Grenadines & Grenada. the Commonwealth of Dominica’s currency is the Eastern Caribbean Dollar which is pegged to the United States Dollar.

The official language is English, however French Creole is also commonly spoken. The island’s primary economic activities are sustainable tourism and agriculture. the Commonwealth of Dominica is a stable democracy with an elected Prime Minister.

 

OVERVIEW

The Commonwealth of Dominica's Citizenship by Investment Programme allows individuals and their families to obtain citizenship. Applicants must apply through licensed agents, and may not make submissions to the Government on their own behalf.

All Main Applicants will now be subjected to an interview prior to approval in principle. Dependents 16 years of age and over MAY also have to undertake an interview, if the Technical Committee deems it necessary or advisable.

 

LEGAL FRAMEWORK

The Citizenship by Investment Programme is set out in the regulations published pursuant to Section 101 of the Constitution and Sections 8 and 20 (1) of the Citizenship Act. The Commonwealth of Dominica Citizenship by Investment Regulations, 2014 (S.R.&O. 37 of 2014), were recently updated by the the Commonwealth of Dominica Citizenship by Investment (Amendment) Regulations, 2016 (S.R.&O. 38 of 2016).

The Commonwealth of Dominica Citizenship by Investment Regulations, 2014 (S.R.&O. 37 of 2014)

The Commonwealth of Dominica Citizenship by Investment (Amendment) Regulations, 2016 (S.R.&O. 38 of 2016)

 

GENERAL BENEFITS

 

Why Choose the Commonwealth of Dominica's Citizenship by Investment Programme...

As a citizen of the Commonwealth of Dominica, you can partake in a wealth of opportunities and experiences, including:

• Living in a peaceful and welcoming country for life, in the knowledge that you have contributed to its prosperity through an outstanding citizenship by investment programme.
• Becoming part of a global community that transcends the Commonwealth of Dominica’s land borders.
• Global mobility, including visa-free travel to over 140 countries and territories, from Singapore and Hong Kong, to the European Union and the United Kingdom.
• Minimal taxation – no wealth, gift, inheritance, foreign income, or capital gains tax.
• Full residence status, with the right to live and work in the Commonwealth of Dominica if you so choose.
• The ability to hold multiple citizenships.
• The freedom to live abroad if you are legally able to under the laws of your host nation, as there is no requirement to reside in the Commonwealth of Dominica before or after citizenship is granted.
  

 

THE COMMONWEALTH OF DOMINICA CITIZENSHIP BENEFITS

The Commonwealth of Dominica's passport offers Visa-Free travel to over 140 countries, including the all European Union (EU) States, United Kingdom, Sweden, Switzerland, Singapore, Hong Kong, Ireland & China. The Commonwealth of Dominica introduced its economic citizenship program over two decades ago, which makes it one of the oldest and most reputable Citizenship by Investment programs in the world. The revenue from the program is used to develop infrastructure for the island and to support private sector economic development.

As a citizen of the Commonwealth of Dominica, you can take advantage of a range of personal benefits that include minimal taxation (no wealth, gift, inheritance, foreign income or capital gains tax), full residency status (with the right to live and work in the Commonwealth of Dominica), right to dual citizenship, and no residency requirement (before or after citizenship is granted).

 

INVESTMENT OPTIONS

The Commonwealth of Dominica currently offers two options for obtaining economic citizenship.

Option A: Direct contribution (payment) to the Government of the Commonwealth of Dominica.

This option is less expensive than the investment option however the applicant does not acquire any assets with the possibility of economic return. The Government of the Commonwealth of Dominica utilizes the proceeds from this option for public infrastructure projects and to meet its general obligations.

The direct contribution fee structure is as follows:

• Single applicant: US$100,000
• Main applicant and spouse: US$150,000.
  

Option B: Investment in a Government approved private sector development. This option entitles applicants who invest a minimum of US$200,000 in a government approved private development to pay a reduced Contribution to the Government to obtain citizenship by virtue of their investment in the economic development of the Commonwealth of Dominica. The reduced Contribution fees to the Government are:

• US$25,000 (twenty-five thousand United States dollars) for the main applicant
• US$35,000 (thirty-five thousand United States dollars) for the main applicant and up to three dependants
• US$50,000 (fifty thousand United States dollars) for the main applicant and up to five dependants
• US$25,000 (twenty-five thousand United States dollars) for any additional qualified dependant
  

In addition to the capital required for Dominica real estate investment, the following fees are also applicable:

• Processing fees – USD $1,000 per application
• Due diligence fees – USD 7,500 for the main applicant, USD $4,000 for a spouse and USD $4,000 for any dependants aged 16 or above. In some cases, additional due diligence fees may be required depending on current citizenship status, and other personal circumstances.
• Certificate of naturalisation fee – USD $250 per person
• Expedited passport issuance fee – USD $1,200 per person

Economic Citizenship Investors must maintain their initial investment for a minimum of three years after which they may sell their asset and retain the proceeds. There are currently seven hotel developments designated under the Commonwealth of Dominica Citizen by Investment program. The main benefit of this option is the potential for financial return.

A secondary benefit is that the citizen will demonstrate a tangible investment (effective connection) to the country of their passport.
Citizenship program offers the opportunity to invest in real estate property, & own either shares certificate in a government approved project OR a title deed and a villa as the case in Jungle Bay resort which is one of the Caribbean’s most successful luxury environmentally friendly resorts.

Secret Bay Real Estate Development

To get their Dominica citizenship by real estate investment, a potential investor shall purchase properties of at least USD $200,000 in a development project pre-approved by local authorities. The Secret Bay hotel in Dominica belongs to such projects.

The holding period makes 5 years, where the next buyer is also about to obtain Dominica citizenship. In any other case, the real estate investor may exit without losing their Caribbean passport after a 3-year holding period is over.

Secret Bay is one of the world’s most celebrated eco-luxury resorts, recently named the “World’s Best Boutique Hotel,” Secret Bay on the lush west coast of Dominica has a solid 7-year track record. Citizenship by Investment in The Residences at Secret Bay is available through both Shared Ownership (starting at us$218,000 USD) and Whole Ownership (starting at us$1,200,000 USD). Six villas are already completed and operating with shares available. Premium fractional or whole ownership in an emerging destination, in the island’s top eco-resort. Qualified Secret Bay villa purchasers are eligible to obtain the Commonwealth of Dominica citizenship by virtue of their investment in the resort.

Property Features

BEDROOMS: 1 – 3 bedrooms

BATHROOMS: 1 – 3 bathrooms

VIEWS: All villas have beautiful tropical forest or Caribbean Sea views

FINISHES AND FITTINGS: Five-star contemporary, luxury treehouse-style

POOLS: All villas have private plunge pools

RESORT SERVICES: Services available including concierge, restaurant, spa and activity centre. Properties are fully managed.

AMENITIES: Beaches, restaurant, and yoga studio on the beautiful west coast of Dominica close to two National Parks

Secret Bay villa purchasers are eligible to obtain Dominican citizenship with a passport that affords visa-free travel to over 140 countries including the UK, Singapore, Hong Kong and the Schengen member states.

The Secret Bay resort administration is justly proud of an impeccable reputation the luxury eco-resort boasts. All structures here are made of eco-friendly and non-polluting materials, with hardwoods prevailing.

The luxury villas are named after local trees. They house small libraries, with books describing the unique Dominican nature. Soaps, jams, souses, and many other products offered to hotel guests are made right there in Dominica. Due to this, their carbon footprint is reduced to a minimum, as the transporation of goods over long-distancances is not involved.

Even seasoned travelers will feel at one with nature and enjoy their vacation time, savoring the romantic atmosphere and healthy lifestyle on the island, while they stay in any of the Secret Bay luxury villas.

To get their Dominica citizenship by real estate investment, a potential investor shall purchase properties of at least USD 200,000 in a development project pre-approved by local authorities. The Secret Bay hotel in Dominica belongs to such projects.

The Secret Bay management is about to increase the spa potential by 2025. In particular, they are building new villas for the luxury resort guests. The number thereof will more than quadruple, growing from 10 available currently to 42 in the future.

The increasing value of the Commonwealth of Dominica passport, low investment requirement, successful performance record and deeded title makes investment in the Secret Bay Resort one of the best Economic Citizenship Investments in the world.

COSTS AND FEES

The following are the additional citizenship processing costs:

1. Professional Fees: Fees are variable due to factors such as family size and complexity of file.
2. Due Diligence Fees:
• Main applicant: US$7,500 per main applicant
• Spouse: US$4,000 for spouse
• Dependant aged 16 years or above: US$4,000
  (Note: In some cases, additional due diligence fees may be required depending on current citizenship status, and other personal circumstances.)
3. Government Processing Fee: US$1,000 per application.
4. Passport Fee: US$300 per regular application; more if expedited.
5. Certificate of Naturalisation Fee: US$250 per person.
6. Expedited Passport Issuance Fee: USD $1,200 per person
7. Additional Government Fees: On approval in principle of an application through a real estate investment or other approved project:
• US$25,000 (twenty-five thousand United States dollars) for the main applicant
• US$35,000 (thirty-five thousand United States dollars) for the main applicant and up to three dependants
• US$50,000 (fifty thousand United States dollars) for the main applicant and up to five dependants
• US$25,000 (twenty-five thousand United States dollars) for any additional qualified dependant