Have you ever sat and considered long and hard what it would be like to move abroad? Maybe you fell in love with a country during a recent visit or have developed a fascination with a particular culture.
Whatever the case, you’re undoubtedly aware that it’s not as easy as jumping on a plane and finding somewhere to live.
There’s a lot of expense involved, and for you to settle legally, you must also have the right to do so. One such way is by gaining citizenship, and one way to gain citizenship is through investment. This is a process through which you invest in the country, and in exchange, you’re granted status as a legal citizen of your adopted country.
We’ll talk a little more about what this involves in the case of Dominica, but first, let’s talk a little about Dominica itself.
Discover Dominica – Your Second Home
Dominica is an island located in the Lesser Antilles, in the West Indies. It is part of a group of islands, of which it is one of the largest. Dominica is home to many wonders of nature, such as rare animal and plant species, more than 350 rivers, and countless hiking trails that crisscross the islands. It’s little wonder that it’s called “Nature Island”.
It’s often stated that there are more mountains than people in Dominica. Many active and dormant volcanoes can be found here, along with the world’s second-largest hot spring – Boiling Lake. Despite the plethora of volcanoes, Dominica is a peaceful island.
It’s politically stable and has been independent of Britain since 1978. It is one of only a few Caribbean Republics with a government that’s democratically elected. Dominica has been an official United Nations member since 1978 and is also a member of the Caribbean Development Bank and the Organization of Eastern Caribbean States.
In addition, Dominica is a member of the International Monetary Fund (IMF), the World Bank, and the Organization of American States. This gives it an excellent standing on the world stage.
The Caribbean Basin Initiative benefits Dominica greatly, with duty-free trade with the US for goods and services. It is rapidly developing as an international finance center with strong offshore banking and payment processing.
Location – Lesser Antilles, West Indies
Population – 735,543
Language – English and French Patois
Land Area – 750 Square Kilometers
Capital – Roseau
Climate – Mild Mediterranean Climate
Currency – East Caribbean Dollars (XCD)
Everything You Need to Know About Becoming a Citizen
In many countries, gaining citizenship is not easy at all. Most require you to be of the same nationality, born in the country or at least born to parents who were. Conversely, other countries offer an alternative path – citizenship by investment.
Citizenship by investment is a way to secure a second citizenship and passport in another country by investing money in its economy. Essentially, you’re buying your way in, but it can also help ensure only those with a vested interest in the country gain the right to live there.
The process isn’t necessarily the same from one country to the next. Some countries have different requirements, and some require a combination of requirements to be met before you’re granted citizenship. It’s, therefore, important to research the country you’re looking to move to so you know what to expect.
Citizenship by investment can occur through various investment opportunities, such as:
- Real Estate
- Government Bonds
- Establishing a Business
- Development Funds
While the investment options and requirement investment sums will differ from one country to the next, this path is far quicker than traditional immigration processes.
Real estate is the first option that’s often available when applying for citizenship by investment. Many countries require applications to invest specifically in government-approved real estate projects, while other countries are more flexible in what you invest in.
Typically, the type of real estate investments you’ll be presented with include hotels, villas, apartments, commercial properties, and land. One such benefit to this approach is that it provides you with utility bills from some asset classes. These bills complement the power of your citizenship when opening a bank account as well as company setups, to name just two important transactions.
Government bonds are regarded as a stable investment as working with the government typically results in higher transparency, providing you with peace of mind. You enjoy a safe investment with higher security, minimizing the risk of fraud. You have a clear exit plan, with the option to liquidate government bonds directly with no hassle.
And depending on the type of government bonds you invest in, the country’s currency, and economic growth, government bonds can often yield a stable income.
Establishing a Business
Establishing a business is self-explanatory. You declare your intention to begin trading in the country you seek citizenship with. Many countries will happily welcome such a proposal, as it’ll create jobs, provide access to services and products, and serve as a boon for the local economy. Some countries may limit such actions, however, if there’s a potential for direct competition that could impact local business owners.
So long as this is an option, however, establishing a business is an excellent way to gain a foothold in a new country. And it can provide you with economic stability so long as the business remains profitable.
Development funds are another form of financial contribution, but unlike government bonds, they are usually non-refundable. With development funds, you’re donating or contributing to a government-approved fund, and this is usually a one-time payment. Development funds will vary from one country to the next and could be geared towards funding developments, financing vital projects, public services, etc.
These options aren’t the only options available to you, either. Other paths to citizenship include bank term deposits, lump-sum tax, and investment funds. Make sure to check which options are accepted by whichever country you’re hoping to gain citizenship with.
What Options Does Dominica Acknowledge?
So, what’s the deal with Dominica? First, Dominica has the 37th most powerful passport in the world. What does this mean? This means it provides visa-free or visa-on-arrival access to up to 135 countries! But how do you go about getting a Commonwealth of Dominica passport?
To be eligible for the citizenship program of Dominica, one of the following requirements must be met by the applicant:
- Contribution to the Economic Diversification Fund (EDF)
- Real Estate Investment
If you take the first route, you’ll be required to contribute any of the following applicable amounts:
- Single Applicant – US$ 100,000
- Spouse of the Main Application – US$ 50,000
- Sibling of the Main Application of Spouse – US$ 50,000
- Family of Four – US$ 175,000
- Each Additional Dependent – US$ 25,000
Alternatively, if you choose to make a real estate investment, instead, you’ll be required to invest in government-approved real estate. You’ll be informed of suitable candidates during the application process. A minimum investment of US$ 200,000 is required, and additional government fees will apply.
Once you begin the process, the standard processing time is around 3-4 months. Bear in mind that this is not set in stone. The time it takes might vary if there are additional procedures or requirements by the government. Some applications might find the process takes longer.
- Step One – Client Assessment
- Step Two – Client On-Boarding
- Step Three – Collection and Submission of Documents
- Step Four – Due Diligence Check
- Step Five – Approval and Investments
- Step Six – Issuance of Passport and Citizenship
Benefits of Applying for Dominica Citizenship
If you’re considering gaining your Commonwealth of Dominica citizenship by investment, here are just a few reasons why this would be a great decision:
Gain a passport that’s ranked as the 37th strongest passport in the world. Enjoy access to 135 countries, including the Schengen States, the UK, Singapore, Malaysia, and most British Commonwealth countries.
- Quick Processing Time
- No Physical Residency Required
- Dual Nationality Allowed
- Open to All Nationalities
- Visas are Easily Obtained as Needed
- No Wealth, Gift, Inheritance, Foreign Income, or Capital Gains Tax
- Personal Income Tax Won’t Be Levied
- Repatriation of Profits and Imported Capital
- Generous Incentives for Business
In addition, family members, including children below the age of 30, will receive second passports. Plus, parents over 55 can also apply as dependents. Lastly, any unmarried sister or brother of the applicant below the age of 18 will also qualify as a dependent.
Why Choose Uno Capital?
So, you’ve decided to go the route of citizenship by investment and begin your journey towards gaining a Dominica passport. Here at Uno Capital, we assist you every step of the way. We recognize that acquiring a second citizenship or residency is not straightforward. It requires multi-lateral thinking and analysis coupled with the advice of trusted and knowledgeable professionals.
Here at Uno Capital, our mission is to provide our clients with the highest level of confidentiality and impeccable service. We offer our services to individuals and corporations in the Middle East, Russia, CIS countries, North Africa, and Asia (including China, India, and Pakistan).
You’ll receive confidential advice, bespoke services, and complimentary VIP coverage with Uno Capital. We offer various programs to fit all requirements, and we’re a government-approved firm that offers complete peace of mind.
Book Your FREE Assessment Today!
If you have a minimum investment amount of $100,000 and would like to enquire about Commonwealth of Dominica citizenship by investment, get in touch to book your FREE assessment. Phone +971 4 3930 393 or fill out our online contact form, and we’ll be in touch.