One of the most surreal islands of the Caribbean, the Commonwealth of Dominica first established its citizenship by investment program in 1993, clearly with the idea of accelerating its investment. As a former British colony, Dominica is a part of CARICOM, the UN, the Organization of American States, the Commonwealth of Nations, and other international organizations.
From a climactic point of view, Dominica always remains pleasant, particularly in the cooler period that lies between the months of December and March. Travellers to Dominica describe its residents as the friendliest people in the Caribbean, a claim supported by the country’s almost non-existent crime rate.
It is only because of its mountainous terrain that only about a quarter of the island remains cultivated while the other half remains. However, the rich soil produces good domestic and export crops, which is something that is amazing about the island. Organic agriculture is encouraged and has great economic potential here.
The citizenship by investment program was established back in the year 1993 in order to boost the country’s largely agriculture-based economy. However, in the current times, and through an increase in real estate investments, the country’s economy relies heavily on tourism.
The island’s 750 km2 is home to over 74,000 inhabitants, with around 3,000 being the last surviving native Carib people residing on the island. Dominica boasts an almost non-existent crime rate and the currency is the Eastern Caribbean dollar, which is pegged to the USA dollar.
For the record, the Dominica Citizenship by Investment Program demands making an economic contribution to the country in exchange of which the applicants and their families are granted full citizenship.
The Dominica Citizenship by Investment Program is included in the § 101 of the nation’s constitution and § 8 and 20 of the Citizenship Act. Under this program, the government of the island can grant citizenship to people who qualify under certain criteria and policy guidelines, while having a prominent role in helping or encouraging Dominica’s economic investment.
A $100,000 nonrefundable donation to the Economic Development Fund
Putting things first, an oath of loyalty must be taken by the principal applicant and the family in front of a certified notary, justice of the peace, or commissioner of oaths. Once this has been done the application for citizenship is processed further and the citizenship certificates are duly issued.
While there is no requirement for a physical residence, The government offers significant incentives to make expanded engagement an appealing choice, encouraging new people to get more involved in the economy. A successful applicant has legal permission to take up residence in Dominica at any time and for any time duration. Nevertheless, in order to be eligible to apply, a potential candidate must later successfully get a visa from the nation with which Dominica has a visa-free travel agreement.
The primary applicant’s current dependents may also apply for citizenship, subject to any additional costs that may apply, as well as the prospective spouses of those who earned citizenship through the Dominica Citizenship by Investment Program.
Children of those who became citizens under the programme and who were born after obtaining their citizenship may register for citizenship at any time.
Furthermore, all of the applications are processed by the Citizenship by Investment Unit, which is a dedicated government authority within the Ministry of Finance, responsible for the management of the program. Speaking about the processing time for applications, – it is currently three months right from the receipt of complete application submission.
To qualify for citizenship under the current regulations, applicants may choose one of these options:
Acquire premium real estate in Dominica and the link to Dominica Citizenship by Investment Program—get all the important details here!
Real Estate Ownership Period: Three years minimum the (open market resale) or five years (resale to another CBI investor)
Investment in Real Estate: USD 200,000 on minimum
Still got some queries in mind? Contact us today at Passport on Tap and let our professionals guide you through the process.
Never have getting citizenship and residency been so easy, right?. Wrong! Cause we got you covered with everything you need in order to achieving your dream