8 Benefits of Second Citizenship from Dominica
07 July 2021
The Commonwealth of Dominica’s government introduced its Citizenship by Investment (CBI) programme in 1993, inviting foreign nationals from around the globe to obtain second citizenship through investing in their country. The programme was launched to generate more foreign direct investment and boost the island’s economy and infrastructure. Investors have the choice to either make a one-time contribution to the country’s Economic Diversification Fund starting from $100,000 or invest in government-approved real estate starting from $200,000.
There are many reasons why high-net-worth individuals seek to acquire a second passport and citizenship by investing in the Dominica CBI programme. Here are the top eight benefits of Dominica citizenship:
- Global Mobility
The most compelling reason for high-net-worth individuals to invest in Dominica is the opportunity of visa-free travel to 143 countries and territories worldwide. Holders of a Dominica passport enjoy global mobility through visa-free travel to the United Kingdom, EU Schengen Area, Ireland, Hong Kong, Russia and many other strategic destinations with their families. This visa-free access saves investors time from filling out long visa applications, waiting for approvals, and possible visa rejections.
- Beautiful Environment
Dominica is one of the most beautiful places in the Caribbean and is nicknamed the “Nature Isle of the Caribbean”. The island is an ideal place to live, work, and retire for people of all ages with its relaxed lifestyle and pristine beaches. The friendly and accepting nature of the Dominican locals and the mixed culture of English, French, Caribbean and African influences can make anyone feel at home. Due to the green mountains and magnificent blue ocean, Dominica is quickly becoming a top destination for tourists as well as investors seeking a second home. English is the official language of the island, but Creole is also widely spoken.
- Attractive Tax Policies
Another benefit of Dominica citizenship is that the country has attractive tax policies with no tax on foreign income, capital gains, inheritance, dividends, wealth, or gifts. Dominica also has a double taxation treaty with other CARICOM countries, like St Kitts and Nevis and St Lucia. This treaty states that the members of the CARICOM agree to avoid double taxation to allow the facilitation of capital movement in the community. Dominica is also known to provide considerable tax waivers and other import duty and tax exemptions.
- No Residency Requirements
The Dominica CBI programme does not require applicants to visit the country during the application process or be a physical resident of the country to maintain their citizenship. Since the COVID-19 pandemic, the Dominica CBI programme has been able to process new applications remotely, both successfully and efficiently.
- Easy Application Process
Another benefit of the Dominica Citizenship by Investment Programme is a straightforward application process. With one of the most efficient processing times from the date an investor submits their application to the date of receiving their passport, the entire process can take as little as four months. As per the government of Dominica, if applicants pass strict due diligence checks, the main applicant and their family are not required to take any language tests or any interviews to qualify for citizenship.
Dominica values discretion, and the government does not publicly announce the names of their new citizens allowing investors and their families to enjoy their dual citizenship privately.
- Citizenship for the Whole Family
Family members can be added to the main application, including a spouse, dependent children under 30 years old and dependent parents of any age. The Dominica CBI programme is one of the easiest ways to safeguard your family’s future.
- Lifetime Citizenship
Once an investor receives the certificate of naturalisation and their passport, the main applicant and all dependents on the application are officially citizens of Dominica for life. Citizenship will not be revoked, and it is protected by Dominican law. The passport must be renewed every five years and can be passed down to future generations.
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Holding second citizenship from Dominica is one of the best modern-day insurance policies, allowing you and your family the ability to travel visa-free or relocate immediately, especially in times of social, political or economic uncertainty in your home country.
The growing economy and high standard of life make Dominica one of the best countries to acquire citizenship by investment. With a minimum investment starting from $100,000, investors can benefit from their second passport by living and working in Dominica and travelling visa-free to 143 countries globally.