Many countries today are attracting foreign investors with lucrative citizenship programs. The Dominica CBI program features a low entry threshold and a number of other advantages, which is especially attractive for immigrating families of average income. The procedure of investment citizenship, in contrast to the alternatives, takes a minimum time – from 4 months to six months. Participation in the Dominica CBI provides one of the ways to invest:
- non-refundable infusion into the State Economic Diversification Fund;
- purchase of certain housing in ownership;
- equity participation in the financing of tourist real estate.
In order to obtain the country’s passport, each investor chooses the most attractive way. For the whole process to go smoothly, it is necessary to take care in advance about the preparation of a number of documents.
What is required to participate in the program
There are a number of requirements for applicants for the investment citizenship program. Individuals who do not meet at least one of the criteria for dominica citizenship may choose to apply through family ties or marriage. Unchanged requirements include:
- at least 18 years of age;
- good health;
- no criminal record;
- an impeccable criminal record;
- proven official income.
It takes 1 day to verify the credibility of the applicant’s data, after which the candidate for investment citizenship can proceed to the next steps to the cherished goal.
How to join with family
According to Dominica law, participation in Dominica real estate investment can only be accepted through a licensed agent, a company that provides application and review services. Immigrant Invest agency specialists accompany the citizenship application process from the moment the investor applies until the final documents are issued. The applicant can include in the application the closest relatives supported by him/her:
- children up to 18 years old (students up to 30 years old);
- parents and grandparents;
- single siblings under 25 years of age;
- children with disabilities regardless of age.
After a background check, it is submitted to the Government for approval. If it is approved, a trusted agent will be informed and you will be able to contribute to one of the selected areas of the dominica citizenship program. After receiving confirmation of payment and associated fees, the investor is eligible to get a Dominica passport.
How much does it cost to participate in the investment
According to the expert Agency Immigrant Invest Evgeniya Morozova, to take part in the investment program in Dominica is possible even with average income. In contrast to many Caribbean countries, the minimum contribution is an affordable amount of 100 thousand dollars. There are differences for sole applicants and family applicants. The most popular options are:
- non-refundable government donation for one – from $100,000;
- the same contribution for a family of four members – from $175,000;
- for each additional relative – from another $50,000;
- residential or equity investment, regardless of the number of family members of the applicant – from 200 thousand dollars.
Investing in real estate is more attractive not only for large families, but also for a single applicant. After 3 years after buying a home, it can be profitable to sell it, returning the funds. With commercial real estate, you can get income for all 5 years, after which it will be available for sale.
Additionally, consulting a real estate agent and utilizing a real estate agent CRM system can provide valuable guidance and organization in your real estate investment journey.
What Citizenship in Dominica Gives
Dominica citizenship by investment is available to citizens of any country in the world who can fulfill the simple conditions of participation in the program. There is no need to surrender the passport of your home country, as there is no prohibition against dual citizenship in Dominica. At the same time you will be able to:
- travel visa-free to 140 countries;
- stay in Europe for up to 90 days;
- open a bank account in the EU;
- rest from taxes on inheritance and income;
- obtain a U.S. visitor’s visa for 10 years.
When the passport expires, it can be renewed remotely through a licensed agency. It is not necessary for Dominican citizens to reside permanently on its territory. Although the amazing climate and fantastic nature are conducive to visiting the island for your pleasure.