Relocating to Dominica
The Commonwealth of Dominica offers an opportunity to relocate and stay on the island for those foreigners, who are willing to and can meet the obligatory requirements of becoming state’s citizens. Immigrants can retain their own nationality and passport, while becoming citizens of Dominica and receiving the second nationality and passport. The country is open to foreign investment. Those, who wish to make financial contributions, receive the same treatment as Dominica’s nationals. The country encourages foreign investors to invest in industries that earn foreign currency, create jobs, while also having a positive impact on its citizens.
Most of the island’s real estate investors during the past few years are North Americans, the British and living overseas Dominicans. The country is famous for its Citizenship by Investment Program (CIP), which is considered to be the most affordable double citizenship program of all Caribbean citizenship programs and of all global citizenship granting programs worldwide as well.
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Advantages of having a residence permit or a second citizenship
Second citizenship allows visa free travel to most of the European and Schengen countries. This means that a person can obtain the right to live in one EU member state and stay in any other. Foreigners are not obliged to stay in the country permanently. They can travel to other countries without having any registration problems while entering a particular country. This is especially convenient for those people who have to travel often or who are not planning to establish their main place of residence in one state.
There are several advantages of becoming Dominica’s citizen. For example, it is possible to work and do business in the country like the other citizens – without legal limitations, to purchase property and receive equal salaries as well as to enjoy all the social services and benefits, provided by Dominica’s authorities. The country has a slower pace of life than the other countries worldwide. It has many of its amenities up to first-world standards, affordable telecommunication services and has no wealth, offshore income or inheritance taxes.
Residence permit program in Dominica
No particular residence permit program in Dominica is currently available, however, the country is running a double citizenship program instead. State authorities can grant residence permission after 6 months of employment as it is equal to work permission. It confers residency and is valid 1year, after which it can be continuously renewed for the next following year during 5-year period of time. After this period the foreigner will be able to apply for a permanent residency. Residence permit can be acquired if the immigrant has no criminal record, has funds and incomes to support himself, his family and is in a good health. The application fee for Commonwealth Caribbean (CARICOM) nationals is 90, 00 US dollars, for non-CARICOM nationals it is 500, 00 US dollars.
Double citizenship program in Dominica
All individuals, registered as permanent residents of Dominica for 2 years, are able to apply for citizenship as the country recognizes dual citizenship and does not require foreigner to renounce his current residence status. Moreover, Dominica does not notify the authorities of foreigner’s current country about him gaining the 2nd citizenship.
There was an Economic citizenship program of the Commonwealth of Dominica established in 1993 for granting citizenship to permanent country’s residents. The second passport, granted by the country’s authorities, is valid for 10 years (5 years for persons under 16).
If a foreigner wishes to become Dominica’s citizen, he must become an investor and make a financial contribution. There are several options for this:
A donation to Dominica’s government (extra fee included):
- 100, 000 US dollars for the single applicant
- 175, 000 US dollars for the applicant and applicant’s spouse
- 50, 000 US dollars for any other person in the family under 18 (if older, the person can register as a single applicant)
- 200, 000 US dollars for the applicant, applicant’s spouse and 2 children
At least 200, 000 US dollars worth for the main applicant (extra fees included).
The property can be resold after the 5-year ownership.
For all of the options mentioned above there will also be additional due diligence, state and processing fees applied. Read more about each of the options to know more or contact us now to apply.