The commonwealth of Dominica Citizenship by Investment Programme
Published on 5 October 2017 by Olga Voirin
With over 20 years of history and a reputation for transparency and integrity, Dominica’s Programme offers investors the certainty of a respected second citizenship.
Over the past 23 years, the Commonwealth of Dominica’s Citizenship by Investment (CBI) Programme has evolved and adapted to become one of the most attractive dual citizenship opportunities in the world. Not only does it cater to varying applicants’ needs, but it also feeds into the public and private economic development of the island. Private investment through CBI fulfils the Dominican Government’s vision of sustainable and resilient growth, while maintaining the essence of Dominica’s ‘nature island’ theme. Dominica offers two investment options for potential CBI citizens, and neither option requires residency. This allows individuals to rapidly obtain a safety blanket for the future in these particularly uncertain times. Successful investments under the Programme also translate into visafree travel to more than 119 global destinations. For single applicants, Dominica’s CBI Programme is the most affordable economic citizenship option in the world – requiring a non-refundable US$100,000 contribution to the island’s Economic Diversification Fund (EDF). This Government-managed fund operates in a fully transparent manner, with funds allocated in the national budget and redirected to critical needs areas. Particular emphasis is placed on the development of infrastructure, small businesses, and ‘smart investments,’ such as geothermal and biomass energy. Projects selected for EDF funding also provides employment for locals, or otherwise substantially improve their quality of life. Dominican hospitals, schools, telecommunications facilities, agriculture, and more have all benefited from EDF support. For each applicant’s dependants, be those a spouse, children, or parents, a tiered fee structure is applied. The second CBI option – investing in real estate – requires a minimum US$200,000 investment for a single applicant, and a US$50,000 Government fee. Real estate is preapproved by the Government and is usually a luxury, eco-friendly resort or hotel. Again, tiered fees are offered for each additional dependant. A minimum three-year ownership is required before the property can be resold, and five years must lapse before it can be offered back into the CBI real estate market. Neither of these options involves compulsory residence times, interviews, or language tests on the part of applicants. In fact, CBI applicants need never visit Dominica, although, as citizens, they may live and work on the island without restriction. Dominica has one of the strongest due diligence processes in the world, featuring the highest number of checks that eminent international agencies are mandated to undertake. Given these rigorous investigations, the application process can take up to 12 weeks, after which time all stakeholders are reassured of the applicant’s eligibility for a second citizenship.