Dominica’s citizenship by investment program has become the fourth-best passport scheme globally. Every year, thousands of people apply to attain a Dominican passport, and its immense popularity owes to several benefits associated with it.
Benefits Associated with Dominican Passport
Second passport programs have gained immense popularity within the past decade. Out of all such programs, Dominica’s passport has emerged as one of the most powerful in the world. If you want to know further about which advantages are associated with Dominican citizenship, check out the following context.
1. Inexpensive Citizenship Program
Though Dominica has one of the most desirable passports globally, attaining its citizenship is a relatively easier process. Single applicants can acquire Dominican passports with a minimal donation fee of up to $100,000 or invest the same amount either in a government-approved project and funds.
Similarly, applicants with families can invest around $208,000, which will cover citizenship for family members as well. The process to apply for Dominica’s second citizenship by investment is also simple, and the rejection ratio is relatively low. Within three months of investment, the applicant can have their citizenship in the country.
2.Global Mobility
One of the prime reasons investors and businessmen opt for Dominican citizenship is the global mobility its passport provides. The Dominican citizenship holders get visa-free access to more than 130 countries and 21 territories, including Schengen region. Recently, Dominica has also signed a visa waiver pact with China, which means that with the Dominican passport, you get to access China and all the most significant countries like the UK, China, Russia and Japan.
3. Low Tax Rates
One of the key concerns for immigrants is the high taxes in home country. But fortunately, in Dominica, no such thing happens. Dominica has no gift, wealth, foreign income, capital gain, or inheritance tax. The only tax you have to pay is the residency tax you are liable to pay when you live in the country. Thus, for investors who have just attained citizenship for mobility, a Dominican passport is a blessing as it exempts them from paying additional taxes.
4.Robust Economy and Multi-Heritage
A decade or two ago, Dominica was classified as one of the poorest Caribbean countries. But due to specific reinforcements and new reforms, Dominica has come a long way ahead and has established itself as a growing economy. Analysts claim that within a decade, Dominica will emerge as one of the established economies in the world.
Furthermore, its second citizenship program has made Dominica an international destination for different nationalities. People from all over the world have settled in Dominica and have made it a multicultural society. Thus, those seeking citizenship in a country with potentially growing economy should consider Dominica.
5. Lifestyle
There are tons of business benefits associated with the Dominican passport, but it is also a country with an excellent lifestyle. Dominica has many rivers, beaches, natural waterfalls, and a glorious landscape, making it a nature island. Moreover, it is also one of the most peaceful countries with a shallow crime index. Thus, if you seek a country with a healthy lifestyle to settle down with your family, Dominica is the place.
Conclusion
The official language of Dominica is English, which means that you will have no language barriers in this country. Besides, there are no specific requirements for the CBI program in Dominica, which ultimately saves you from lengthy procedures. All you have to do is provide your identity proof, show your clean criminal record and choose the sector where you want to invest in Dominica. Within 190 days you will officially become a Dominican citizen.