Living in Dominica boasts various benefits. For one, the celebrated natural beauty, comprises lush rainforests, wildlife, and picture-perfect beaches. Then there is the cost of living to consider. If you dream of living like a king or queen on a budget, you can certainly get more bang for your buck here.
These are just a few reasons Dominica’s citizenship by investment program offers a lifetime opportunity. In this article, we delve deeper into the benefits. Read on to discover more.
Visa Free Travel to 142 countries
The Dominica passport by investment program grants you visa-free access to numerous countries. What does this mean? Hassle-free international travel, irrespective of whether journeying for leisure, business, or education.
In addition to this, as a member of CARICOM, residents can live in any other member nation. This opens up further opportunities for those wishing to live, reside, and travel to other areas.
Family Initiatives
When you apply for citizenship in Dominica, you can include your entire family in your application. This is a huge bonus to those wishing to secure a better future, through a higher standard of accommodation, a better climate, a slower pace of life, or a superior education.
No Physical Residency Requirements
Another attractive advantage of obtaining a Dominican passport is that you don’t necessarily need to uproot and leave your existing hometown. Provided a member nation, you can reside there and still be granted citizenship along with all the perks this entails.
Tax Advantages
As a Dominican passport holder, you won’t be privy to tax on any worldwide income. In addition, should you choose to live in Dominica, you will be exempt from wealth tax, capital gains tax, and inheritance tax! For some, this makes moving here or investing in the area monetary beneficial.
Enhance Your Portfolio
Dominica is home to a stable economy, and by becoming a resident, you can add to your investment portfolio and earn a further income. As mentioned, you’ll also pay less tax in the long run, which makes this location the perfect platform for asset protection and wealth diversification. One point to note? The property needs approval before purchase. It must also hold a value of a minimum of USD 200,000.
Healthcare and Education
Dominica is home to impressive healthcare establishments and educational institutions. With this passport, you will have access to all of these facilities, which ensures a high quality of life for you and your extended family.
Investment Options
There are plenty of investment options to choose from, all of which will grant you Dominica citizenship. The two key investment pathways comprise:
Economic Diversification Fund Donation
The EDF, recently introduced by the Dominican government, boasts a viable fund comprising an impressive investment stream. How does this work? If you have the funds to gift a financial contribution to Dominica, you will be granted citizenship.
When you make a financial contribution to the EDF, you are contributing to a private or public sector. These sectors in Dominica necessitate financial aid and involve unique projects that support the local community. This comprises hospital refurbs, schools, and national sports stadiums. In addition, EDF aids assist in areas such as IT, tourism, and agriculture industries. The result? Dominica continues to improve and becomes an even better place to work and live!
To be granted Dominica citizenship, investors can contribute the following:
- Applicant: USD 100,000
- Applicant and spouse: USD 150,000
- Applicant and up to three defendants: USD 175,000
- Any additional dependent under the age of eighteen: USD 25,000
- Any additional dependent eighteen years of age or older: USD 50,000
In addition to the above, you may have to pay processing Fees of USD 1,000 per application.
Real Estate Investment Opportunities
If you wish to live in Dominica or add to your property portfolio, you can opt for citizenship through real estate. This is another prevalent route offered by the Citizenship by Investment program. There are a few rules to abide by, which include:
- Purchasing an approved property valued at USD 200,000 minimum.
- You must keep the real estate for three years from the day you become a citizen.
- You’ll be expected to pay additional fees to the government if your chosen property is approved. These start at USD 25,000 for a single applicant, and up to USD 50,000 for up to five dependents.
- In certain cases, you may be asked to pay enhanced due diligence fees.
The Bottom Line
Whether looking for a new challenge, a fresh start, or a new home that promises an exceptional lifestyle, healthcare, and educational system for your entire family, the Dominica Passport by Investment program could be just the ticket!
From the tax benefits to the picture-perfect surroundings and investment opportunities, there are many reasons to invest in Dominica. Provided you qualify and follow the above tips, you can be granted citizenship to this sunny destination. Just another reason to make the move, sunshine is after all beneficial to our mental health.
