Dominica is a breathtaking Caribbean island nicknamed Nature Island for it’s numerous untapped islands. The former British colony is a member of the commonwealth, the UN, and several other international organizations.
Arguably the most breathtaking country in the Caribbean, Dominica offers its citizens a high standard of living.
The Dominica citizenship by investment program was launched in 1993 and has since given citizenship to thousands of individuals while getting investments and boosting their economy in return.
The program is one of the best in the world and offers arguably the best value. It is the joint-cheapest program at $100,000 and offers you free entry and movement in a lot of countries.
In this article, you’ll learn how you can get a Dominican passport through their investment program.
But before that, lets see some benefits of having a Dominican passport.
Benefits of Owning a Dominican Passport
The benefits of having a Dominican passport are numerous and that is why thousands of people are taking advantage of the Dominica citizenship program to get a second home.
Here are benefits you’ll enjoy:
- Cheap investment option at $100,000
- Inclusion of children under 30 years and dependent unmarried siblings that are without children and under 25 years
- No tax for non-residents
- Visa-free travel into 145 countries including the UK, Hong Kong, and EU Schengen zone
- Inclusion of dependent parents and grandparents that are over 55 years.
- Dual citizen allowed
- Citizenship can be inherited
- No physical residency required to keep the passport
What are the Requirements?
To be qualified to apply and get Dominican citizenship, you must possess and pass all the following requirements:
- Must be at least 18 years
- Must have no criminal record or any pending cases
- Must be in good health
- Must pass a background check
- Must have a basic knowledge of English
- Must make the required investment
Dominican Passport Investment Options
There are two major investment options to get a Dominican passport. These options vary in their investment amount and nature and are peculiar to different people.
1. Donation into Dominica Economic Diversification Fund (EDF)
This fund supports private and public sector projects in Dominica for the continued growth of the country’s economy and standard of living.
Single applicants must donate $100,000 to the fund. The donation amount increases steadily for couples, a family of four, and for every additional dependent family member.
This is the joint lowest investment amount to get citizenship in the world and is a popular option for people looking to save the cost of acquiring a property especially if you don’t plan on residing in the country.
2. Buying a Government Approved Real Estate Property
This is an attractive option for people looking to enjoy the country’s unspoiled nature islands. The country has 365 rivers, numerous hot springs, and several beautiful areas you can invest in.
The applicant is required to buy an approved real estate property for at least $200,000 and maintain such property for at least 3 years, after which they can sell off. If they however maintain the property for 5 years, they can sell off the property under the citizenship by investment program.
This option helps to relieve the burden of getting buyers for your property.
Certain government filing fees must be paid when going through the real estate option.
How to Get a Dominican Passport
To get a Dominican passport, applicants must pass the standard requirements and provide the necessary documentation.
Apply and wait for the government to complete verification and processing. This process usually takes between 2 and 4 months and involves due diligence checks and verification of information after which your application can be approved, rejected, or delayed for further verification.
After approval, you can then make your investment through any of the approved options. Your investment will remain in escrow till after naturalization and passport have been issued.
After confirming your investment, the government will grant you a certificate of registration after which you can then apply for a passport.
While the process of obtaining a Dominican passport is straightforward, it does involve a lot of paperwork. All documents must be less than 90 days old so careful planning is required.
Dominica’s citizenship program has had its fair share of scandals in the past and one person has had his passport revoked.
Nevertheless, this is one of the best value passports you can get as it is a good Tier B’ passport that will grant you access to moderately difficult countries to enter.
Must have tools for startups - Recommended by StartupTalky
Subscribe to Startup Talky
Get the latest posts delivered to you right in your inbox