Established in 1993, the Dominica economic citizenship programme is one of the most popular and compelling options in the world. The island state is globally renowned as an ecotourism destination, boasting spectacular natural scenery, rich biodiversity and some of the best beaches in the world. But while the island state offers second citizens an unparalleled lifestyle, it is the programme’s comparably low investment requirements and favourable tax regime that serves as its biggest draw card.
Read on to find out more about the benefits of Dominican second citizenship, or contact us for more information
Ultra affordable second citizenship: From an investment requirement perspective, the Dominica programme is highly compelling compared with a host of other passport investment programmes. You have the option of making a non-refundable donation of $100,000 into a specified government fund, or you can acquire a government approved property from only $200,000. These amounts exclude service provider and government fees.
If you opt for the donation based route, you can add your spouse for an additional $75,000 (so $175,000 in total). A donation of $200,000 would enable you to acquire citizenship for you, your spouse and two children under the age of 18.
If you were to choose the property investment based route, you will be required to hold your property for at least 3 years. After 5 years, you could become eligible to resell your property, effectively meaning that your citizenship could pay for itself.
Tax friendly jurisdiction: Taxation is a key draw card for the Dominican programme: Economic citizens aren’t taxed on foreign sourced income or capital gains, unless you actually reside on the island. And in order to be considered a tax citizen, you need to reside in-country for more than 6 months per year. The country won’t charge you any wealth or inheritance taxes either, nor is there any personal income taxes for residents. If you’re looking at starting an international business, you could also be eligible for a number of tax incentives, waivers and tax holidays, which is why many passport investors opt to incorporate international business companies in Dominica.
Minimal requirements: Unlike with many of its competitor programmes, the Dominica investment citizenship programme’s requirements are relatively relaxed. Beyond your investment requirement, there are no language tests, age restrictions, and there are no minimum stay requirements in order to become an economic citizen. You will of course have to be able to prove that you don’t have a criminal record, and that your wealth has been acquired in a legal fashion, but apart from that, the process is straightforward and streamlined – provided you complied with the process requirements in a timely manner, you could expect to obtain second citizenship in Dominica within 3 months.
Exceptional international mobility: Seeing as Dominica is a Commonwealth nation, your Dominican investment passport gives you visa free access or a visa upon arrival when travelling to over 12o countries around the world, including most of the EU countries.
Lifetime guarantee: Provided that you don’t commit an act of treason or a serious crime, you cannot lose your Dominican citizenship. The government guarantees that your citizenship rights are valid for life, even if there were to be changes in government.