The Caribbean Citizenship by Investment (CBI) programs are some of the more popular paths to obtaining a second passport. Countries like St. Kitts and Nevis, Grenada, and – naturally – the Commonwealth of Dominica are well-known for their straightforward and fast application process.
Here, we look at the investment options available to foreign nationals, as well as the timeline of the application process, when opting to acquire a second passport through the Commonwealth of Dominica Citizenship by Investment program.
In This Article:
- About the Commonwealth of Dominica Citizenship by Investment Program
- Process and Timeframe
- Benefits of Commonwealth of Dominica Citizenship
- Book A Free Consultation
About the Program
In 1993, the government of the Commonwealth of Dominica introduced a citizenship by investment program that invites foreign nationals from all around the world to obtain second citizenship through investing in the country. As with many other countries, the Commonwealth of Dominica launched this program as a means to generate more foreign investment into the island nation and further the development of its economy and infrastructure.
Process and Timeframe
As mentioned above, the Commonwealth of Dominica requires foreign nationals to invest in the country in exchange for citizenship. Applicants must choose one of 2 options as their qualifying investment:
- Donation: Investors can opt to make a minimum, non-refundable contribution of $100,000 to the Commonwealth of Dominica’s Economic Diversification Fund.
- Real Estate: The second option consists of investors making a minimum investment of $200,000 in government-approved real estate projects, to be held for 3 years.
The entire application process consists of a few simple steps and can be processed and completed anywhere from as little as 3 months up to 6 months at the most. A breakdown of the timeframe is as follows:
- Month 1: Preparation Time
This stage consists of the investor considering which investment route is best for themselves and their family, as well as choosing an authorised agent, like Savory & Partners, to take care of your application. In addition, your authorised agent will aid you in collecting all the necessary documents and prepare all the paperwork during this time, as well as formally submit your application to the Dominica Citizenship by Investment Unit.
- The next 30 to 90 days: Processing Time
At this point, the application will be assessed by the Citizenship by Investment Unit and a background check will be conducted on the applicant. After the assessment, the investor’s application is approved in principle.
- Month 5 to 6: Apply for Citizenship
The last leg of the application process sees the applicant obtaining their Certificate of Registration, and once the passport fee is paid, they will be issued and couriered their citizenship certificate and passport.
Benefits of Commonwealth of Dominica Citizenship
- Unrestricted travel: As a citizen of the Commonwealth of Dominica, investors gain visa-free or visa-on-arrival travel to over 135 countries and territories worldwide, including the United Kingdom, the Schengen Area and Singapore.
- Retirement option: The Commonwealth of Dominica is most people’s idea of an island paradise – so why not reward yourself for all your hard work and spend your golden years here?
- Ultimate insurance: Holding second citizenship in the Commonwealth of Dominica is a great Plan B to put your mind at ease in times of economic or political instability in your home country.
- Ease of Process: The application process is designed to be a smooth and straightforward process, with no interview and education and management experience required to apply.
- Favourable tax policies: The Commonwealth of Dominica places no taxes on foreign income, capital gains, dividends, gifts, wealth and inheritance.
- Minimal residency requirements: There are no physical residency requirements and applicants do not have to visit the island nation before or after applying.
- Dual citizenship permitted: When obtaining citizenship in the Commonwealth of Dominica, you are not required to renounce your current citizenship(s), and your home authorities will not be notified of your new nationality and passport.
Book a Free Consultation
Please be aware that the government of the Commonwealth of Dominica does not accept applications directly. When applying to any Citizenship by Investment program, please be sure to render the services of a government authorized agent and advisor like Savory & Partners, that specializes in high-net-worth individuals applying to any Citizenship or Residency by Investment program.
The Savory & Partners team is made up of a diverse group of industry experts who span over 15 nationalities, speak over 25 languages collectively, and come with decades of CBI and RBI industry experience. Our level of expertise combined with our commitment to serving our clients with the highest level of professionalism and transparency has led us to aid over 1,100 families obtain a second passport with a 100% success rate. There is no-one better positioned and more trustworthy than Savory & Partners when seeking the best results on your quest to secure a better future for yourself and your family.
If you would like to apply to the Commonwealth of Dominica citizenship by investment program or would like to learn more, get in contact with us today for a free online consultation and one of our skilled agents will happily aid you in your enquiry.
We are available on every channel convenient for you.