Dominica - Citizenship by Investment
In the Eastern Caribbean Sea lies the lush and fertile, mountainous island of Dominica. Average temperatures of 25° C (77° F) in the winter months and 28°C (82° F) in the summer make this tropical island a destination all year long. The Commonwealth of Dominica’s efforts in conservation and preservation make this one of the most pristine and unspoiled islands in the area. Swathes of rainforest cover hills and cross rivers and waterfalls, meeting up with beautiful beaches lined with unparalleled diving reefs.
English is the official language of the country, with French being widely spoken as well. Dominica has a parliamentary democracy and a legal system based in English common law. Income taxes in the country are progressive, starting at 15%, with no taxes on foreign income for residents. There are no taxes for personal net income, inheritance or capital gains taxes. Dominica passport holders have Visa-free access to over 140 countries. Obtaining citizenship can take 3-5 months, with assistance from IRC, from start to finish.
Benefits of Dominica Citizenship
- No net worth, capital gains, inheritance tax or foreign income tax on residents
- Full Citizenship and Passport granted to the applicant, their children, spouse, parents and grand-parents, dependent children up to the age of 31, with the possibility of dependent siblings between the ages of 18-25
- Passport with Visa-free travel to 141 countries including the EU, the UK, Turkey, Singapore and other Caricom countries
- No restrictions on Dual Citizenship
- No presence is required in the country
- Dominica identification with biometrics is also granted to applicants including; National ID, Driver’s Licence and Tax ID
How to Become a Citizen
Making a significant monetary investment or donation, adhering to rules set forth by the governing authority in Dominica; Citizenship - by - Investment Unit (CBIU), can grant full citizenship and passport holder status. Currently, there are 2 investment options available:
- A minimum of $200,000. USD property purchased from a qualifying government project
- A non-refundable donation starting from $100,000.USD to the Economic Diversification Fund
Real Estate Option
To acquire a real estate asset when obtaining citizenship is a very desirable option, and gives you peace of mind. You can use the property as a second home or vacation home and/or create an income by renting it out. With knowledge of the local real estate market, IRC can provide additional assistance with the procurement of your Dominica property. All recommended, qualifying properties are managed for your convenience.
Current fees are as follows:
For a single applicant with a minimum property purchase of $200,000.USD + government, passport and due diligence fees, the minimum investment is $233,810.USD. Additional closing costs of the property are variable. Stamp Duty (Real Estate Transfer Fee) is applied at 2.5% to the seller and 4% to the buyer.
For a family of four or more with a minimum property purchase of $200,000.USD + government, passport and due diligence fees, the minimum investment is $248,740.USD. Additional closing costs of the property are variable. Stamp Duty (Real Estate Transfer Fee) is applied at 2.5% to the seller and 4% to the buyer.
Economic Diversification Fund Option
The EDF is a government program that provides funding for socio-economic initiatives. Public and private sector projects like the building of schools, hospitals, sports centres, etc. are the focus.
Current fees are as follows:
For a single applicant; with a contribution to the EDF of $100,000.USD + government, passport and due diligence fees, the minimum investment is $108,810.USD.
For a family of four or more; with a contribution to the EDF of $175,000.USD + government, passport and due diligence fees, the minimum investment is $188,740.USD.
- Applicants must be 18 years of age or older
- Applicants must not be engaged in a criminal court case, or be identified as a security or reputational risk
- Applicants must not have a Visa restriction to any of the 141 Visa-free travel countries
For More Information
For additional information please don’t hesitate to contact the IRC. We provide professional assistance from the beginning to the end of the process and ensure a secure transaction. Property investors can also enjoy a smooth real estate acquisition.