Dominica Citizenship – it’s a program worth looking into, because some of its options are easier than you’ll find in other nations.
Are you looking to get a second passport to make a new life in a new place? Or, maybe you just want that particular brand of freedom that comes with acquiring a second passport. Whatever the case, there are plenty of ways to get a second passport. Unfortunately, most of these methods require a great deal of time and money. If you’re someone with high net worth, then chances are you don’t have time to waste. So your best bet for acquiring a second passport is by investing through an economic citizenship program. Though there are a number of reliable options in this arena, only a couple of economic citizenship programs have been around for decades and been used by thousands of people. Among the best of these options is to apply for Dominica citizenship through their citizenship by investment program.
What are the benefits of having Dominica citizenship?
First of all, let’s begin by clarifying that Dominica is NOT the Dominican Republic, but is rather a small Caribbean island. That means blue skies, palm trees, and beaches – not to mention some of the best diving in the world. Dominica is also a politically and economically stable state with the lowest crime rate in the region. But if all of that isn’t an immediate sell, then consider this. There are no residency requirements to get Dominica citizenship. That means you will save a lot of time if you go this route. To date, the only other country that also waives the residency requirement is Saint Kitts and Nevis, but they demand a larger investment than Dominica.
Additional benefits of Dominica Citizenship include:
- Full citizenship with your investment
- The ability to hold a second passport for easier travel to other countries.
- Visa-free access to many countries including The United Kingdom and other British Commonwealth countries, Hong Kong, South Korea, and China
- Tax-free status on all foreign income and capital gains
- No requirement to renounce your existing citizenship
This last benefit is especially appealing since dual citizenship offers its own unique set of benefits including the ability to work without a visa, own property and possibly even vote in two countries. And in countries of unrest, it could be life-saving.
Does this sound like some shady sort of operation like you might see in a movie?
Don’t worry. It’s not. Everything is completely on the up-and-up. The Dominica passport program was started in 1993. It is a well-established citizenship by investment program and over 5000 people have gone through the process. Along with ease of use, the Dominican government has made the process transparent.
The program is completely legal, and once you’ve successfully moved through the entire process, you will be a true Dominican citizen with a Dominica passport.
The process to apply for Dominica citizenship is fairly straightforward:
Step 1 – Choose your agent.
You choose an agent from the list of authorized agents. This authorized agent is the only person who will handle submitting applications directly to the Citizenship by Investment Unit.
Step 2 – Prepare documentation.
You work with your authorized agent in preparing and legalizing your documentation for submission. This means you need to:
- Complete the official forms
- Get a medical examination
- Obtain the required supporting documents
- Reserve property through a sales and purchase agreement (only if you are purchasing property)
Documentation must be submitted in English. If needed, your agent can assist you with this.
Step 3 – Answer questions/interview.
Once the forms are complete, the agent submits the application and serves as a liaison between you and the CBIU of Dominica to relate all correspondence, inquiries or questions on your file that may arise. While there is no mandatory interview requirement for the Dominican Citizenship by Investment Program, you may be called in for an interview at the discretion of the government.
Step 4 – Acceptance or rejection.
Your application is subject to a thorough background check which verifies the information that you provided and the CBIU then makes a decision. You receive a letter through your agent who will inform you whether your application has been accepted, delayed for further processing or rejected.
Step 5 – Submit payment.
If your application is accepted, the CBIU issues a letter instructing you on how to make the investment payment (for the Government Fund option) or on how to complete the payment for your real estate property. Once they receive proof of payment, the CBIU issues the certificate of registration which your agent then uses to apply for a Dominican passport for you. End of story. Well, not quite.
Here’s the obvious question:
What is the required investment for Dominica citizenship?
Well, it depends on the situation.
- If you’re a single investor, your contribution will be $100,000.
- If you’re an investor with a spouse, your investment will be $175,000.
- If you’re an investor with a spouse and two children under the age of 18, you will need to invest $200,000.
- And if you have more than two children under 18 years of age, there is an additional $50,000 per child required.
- Any additional family member over the age of 18 requires a separate application.
It should be noted that the cost of citizenship in Dominica will remain unchanged until 2017.
The program’s investment criteria were originally scheduled to increase significantly in 2016, with the minimum price of a Dominica passport rising 75% to $175,000. This major cost increase has now been put on hold until 2017. So if Dominica is in your plans, you will want to act fast.
Getting a second passport is a major decision.
Especially if you’re considering this for the sake of picking up and moving to an entirely new country and culture. The information can be overwhelming but know that you don’t have to go it alone. You can reach out to organizations like the International Passport Organization – known as InterPass – that are staffed by people who’ve gone through the process of earning permanent residency and a second passport abroad. They know the ropes and are available to help you avoid common and unfortunate mistakes while you do the same thing. So don’t be afraid to ask for help.