Dominica CBI program was initiated in 1993, and since then, it has been one of the prime destinations for investors and business people opting for a second passport. The past three years of the Covid-19 pandemic have transformed business trends and emphasized global mobility.
Dominica offers the most flexible citizenship program that requires a reasonable investment into specified sectors. For a single applicant, an investment of $100,000 in government-approved real estate or in the government’s National Development Fund is sufficient to acquire a Dominican passport. Whereas to get second citizenship for the entire family, one must invest up to $208,000 in Dominica’s real estate sector.
Many people fear the tiresome and hassling application process of CBI programs. But unlike the US and Canada, the procedure to attain Dominica’s citizenship is straightforward and short. You won’t have to spend a certain period in Dominica to get its passport. Instead, you can get Dominican citizenship online by investing the required amount in Dominica and verifying your identity. The application process will take a few weeks, and you will have Dominican citizenship within four months.
The Dominican passport being more powerful, offers visa-free or visa-on-arrival entry to over 145 countries. Dominica has signed a visa-waiver contract with China, providing Dominica access to the world’s four biggest economies, including France, the UK, and Germany. Dominican citizens are also eligible for US B-1 and B-2 visas, which can be obtained for up to ten years. With any of these visas, one can stay in the US for over six months in a year.
Dominica is an excellent destination for settling with family. It is a politically stable country that provides its residents with a European-style lifestyle. Since the Dominica CBI program offers visa-free access to more than half of the world, its international reputation is well-built. With such a peaceful environment and a growing economy, Dominica guarantees a prosperous future to families obtaining its passport via CBI programs.
But besides being suitable for families, Dominica also proves advantageous to investors and business people. Dominica is one of the few countries with no taxes on wealth and foreign income. Moreover, Dominica has signed a treaty against double income tax like St. Kitts and Nevis, implying that the Dominican government would not charge additional tax on foreign income. Instead, Dominican citizens are liable to pay income tax, which is also minimal compared to other countries.
Within the next two decades, Dominica is expected to emerge as one of the most technically-advanced countries. Many international corporations already have franchises in Dominica. Besides, it is the most visited country in the Caribbean region, implying that it can be an ideal place to set up a new business.
Contrary to other countries offering dual residency, Dominica does not require you to pay a renewal fee for citizenship after a specific period. Once you acquire a Dominican passport, it can never be revoked and remains protected under Dominican law. Therefore, Dominica citizenship by investment scheme is a one-time investment, with ROI, that secures your business and your family’s future.