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.

 

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 and Ireland. 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 for a single applicant
• US$35,000 for a family of up to four persons, including the main applicant and up to three Dependants other than a Dependant sibling
• US$50,000 for a family of up to six persons, including the main applicant and up to five Dependants other than a Dependant sibling
• US$70,000 for a family of seven persons or more, including the main applicant and at least six Dependants other than a Dependant sibling
• US$50,000 for a sibling of the main applicant or of the spouse of the main applicant aged 18-25
• US$25,000 for a sibling of the main applicant or of the spouse of the main applicant below the age of 18
  

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.

Jungle Bay has developed 120 new villas under the Commonwealth of Dominica Citizenship by Investment Program and opened phase 1 of the resort in June 2019 (the second and last phase of the hotel will open by the end of 2020). Jungle 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 Caribbean region offers several economic citizenship investment opportunities however Jungle Bay is the only Caribbean development that offers a deeded real estate investment in the US$200,000* price range.

(*The price for Jungle Bay villas is US $255,000 (inclusive of all closing costs, transfer taxes, deed registration & legal fees.)

Qualified Jungle Bay villa purchasers are eligible to obtain the Commonwealth of Dominica citizenship by virtue of their investment in the resort. Each villa building is divided into two accommodation units with an open living/sleeping space and bath. (Two units may be combined to create one large open villa.) Each Jungle Bay unit comes with its own title/deed.

Jungle Bay villas are a real estate investment therefore purchasers will receive a recorded deed to their villa. This is a far better option than share purchases, which may be difficult to quantify. The Commonwealth of Dominican citizenship program requires investors to retain their investment for a minimum of three years. Villa owners may choose to sell their villas after such time. Over the past ten years Jungle Bay achieved a relatively high occupancy rate which suggests the likelihood of a good return on investment for villa owners however we make no representation or projection of expected returns because our villas are a real estate investment and not a share purchase or securities transaction.

The increasing value of the Commonwealth of Dominica passport, low investment requirement, successful performance record and deeded title makes ownership of a Jungle Bay villa 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
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. Additional Government Fees: On approval in principle of an application through a real estate investment or other approved project:
• US$25,000 for a single applicant
• US$35,000 for a family of up to four persons, including the main applicant and up to three Dependants other than a Dependant sibling
• US$50,000 for a family of up to six persons, including the main applicant and up to five Dependants other than a Dependant sibling
• US$70,000 for a family of seven persons or more, including the main applicant and at least six Dependants other than a Dependant sibling
• US$50,000 for a sibling of the main applicant or of the spouse of the main applicant aged 18-25
• US$25,000 for a sibling of the main applicant or of the spouse of the main applicant below the age of 18