Dominica

Citizenship by Investment Program

The Citizenship by Investment Programme is set out in the regulations published pursuant to Section 101 of the Constitution and Sections 8 and 20 (1) of the Citizenship Act. The last amendment was set on 1 December 2016 in the Legislation No 38 of 2016. Through this program, a foreign-national that makes an economic contribution in the form of donation to the Government fund or real estate investment, may become a citizen of Dominica. The entity that manages applications and enforce regulations is the Dominica Citizenship by Investment Unit (CBIU), and the citizenship granting is at the sole discretion of the CBIU director and senior examiners.

investment


Investment in an approved Real Estate project

US$ 200,000 minimum investment in an approved real estate project by the Government of Dominica, to be held 3 years.

Plus, Government fees payable:
US$ 25,000 for the main applicant.
US$ 35,000 for a family up to 4 persons (including the main applicant).
US$ 50,000 for a family up to 6 persons (including the main applicant).
US$ 70,000 for a family of 7 persons or more (including the main applicant).

Requirements


- Main applicant must be 18 years old or older.
- Main applicant must prove that has enough funds to make the required investment, and prove the legal source of these funds.
- Main applicant and dependents do not suffer contagious disease and/or serious health problems.
- Clean Criminal Record.
- Not to be subject of a criminal investigation.
- Not to be considered a potential national security risk.
- Not to be involved in any activity likely to cause disrepute to Dominica.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Dominica. You are not required to renounce your previous nationality to become a citizen of Dominica.


Documents Required


  • Original Professional Reference Letter (Not older than 6 month)
  • Financial Statement
  • Original Bank Reference Letter (Not older than 6 month)
  • Two Personal References
  • Original Police Clearance Certificate
  • Eight passport-size photos
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Original or Certified copy of Birth Certificate (if applicable)
  • Official transcripts of written confirmation from a recognized education center (dependents over 18)
  • Proof of payment of nonrefundable processing and due diligence fees
  • Statement of Source of Funds
  • Curriculum Vitae
  • Evidence of Business Background
  • Real estate sales and purchase agreement
  • Medical Certificate
  • Certified copy of passport
  • Certified copy of ID Card
  • Professional and academic certificates (if applicable)
  • Photograph and Signature Certificate
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required No
  • Personal visit required No
  • Language skills required No
  • Interview required No
  • Investment Single $200,000
  • Investment Family 4 $200,000
  • Minimum annual income -
  • Time to citizenship 2
  • Time to permanent residency
  • Visa-free countries 118
  • Financing available No

Fees

government fees main applicant $50,000
due diligence fees main applicant $7,500
processing fees main applicant $3,000
passport fee $1,200
certificate issuance fee $750
total fees main applicant $62,450
government fees spouse $25,000
due diligence fees spouse $7,500
passport fee $1,200
certificate issuance fee $750
total fees spouse $34,450
government fees dependents -18 0 (2 dependents), $25,000 (4 dependents)
passport fee $1,200
certificate issuance fee $750
total fees dependent -18 $1,950 (under 16) $5,950 (16-18)
government fees dependents 18-25 $25,000
passport fee $1,200
certificate issuance fee $750
total fees dependent 18-25 $30,950
government fees dependents +65 $25,000
due diligence fees dependents +65 $4,000
passport fee $1,200
certificate issuance fee $750
total fees dependent +65 $30,950

Country details

Dominica
XCD
1767
Roseau
North America
English
72813
The Commonwealth of Dominica, is a sovereign island, member of CARICOM and the Commonwealth. It is part of Windward islands in the Lesser Antilles, Caribbean Sea. Located between the French overseas territories of Guadeloupe to the north and Martinique to the south. It has an extension of 750 sq. km. and a population of over 72,000 inhabitants. Its capital is Roseau. English is its official language, although it is widely spoken the Dominican Creole French, a French based sub-variety of Antillean Creole. Its official currency is the East Caribbean Dollar (XCD), pegged to the US$ at a 2.71:1 ratio.

Visa Free Travel

With your new passport from Dominica you'll be able to access 118 countries visa free
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Taxes

Becoming a Dominica citizen, does not automatically make you a tax resident. To be a tax resident an individual must:


  • Have its permanent place of residence within the country and spend a period of time during the tax year in Dominica, unless absence purposes are considered reasonable by the Comptroller of Inland Revenue, or

  • Be in Dominica 183 days or more in the tax year, or

  • Be in Dominica for a continuous period of less than 183 days, but is resident the preceding or succeeding tax year.


Personal Income Tax is levied on a residence and remittance basis:

  • Individuals residents or ordinarily residents in Dominica are subject to personal income tax on a worldwide basis.

  • Individuals residents but no ordinarily residents are subject to personal income tax on their Dominica source income and foreign-source income remitted to the country.

  • Individuals non-residents are taxed on their income from Dominica sources and income from foreign-sources remitted to the country.


Personal Income tax rates are progressive up to a top marginal tax rate of 35% on annual income exceeding XCD 50,000. Capital Gains are not taxable.

Dominica bank interests are tax-exempt. Dividends received are included in taxable income but a tax credit up to 25% of the net dividend received is usually available.

Dominica does not have Controlled Foreign Companies Rules. This means that income retained in a foreign entity owned by a tax-resident may not be subject to taxation.

Municipalities levy a property tax up to 1.25% of the property value, depending on type, location and use of the property. There is a 6.5% stamp tax on contracts for the transfer of assets. There are no net wealth and inheritance taxes in Dominica.

The Value-added tax rate is 15%. Reduced rates and exemptions applies for certain good and services.

Regarding corporate taxation, domestic companies in Dominica are subject to tax on their profits, whether accrued within or outside the country. Corporate Income tax rate is 25%. Dividends are subject to tax, but a tax credit is usually available. Capital gains are not subject to taxation. However, capital gains will be subject to taxation if comprise a substantial portion of the income-earning activities of the business.

Companies incorporated under the International Business Companies act, may benefit from a fully tax exemption, easy accounting and confidentiality. Learn more about company taxation and legal framework at incorporations.io/dominica.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax No
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 35%
  • Capital Gains tax rate 0%
  • Investment income tax rate 35%
  • Territorial taxation Yes

Procedures

Flag Theory | Passports.IO and our qualified lawyer in Dominica, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.

First, our lawyers will conduct a due diligence on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved. We will send you the application forms and provide assistance to complete the questionnaires and translate and legalize documents. You must do a medical examination (we may recommend clinics in your jurisdiction) and provide us the medical assessment. After that, you will be ready to undergo fingerprints procedures and reserve your property through a sales and purchase agreement. Investment will be made only in case of application approval.

We will handle all paperwork with Dominica’s CBIU, which will conduct a due diligence check. Once your application is approved, investment will be released and you will receive a certificate of naturalization and you will be able to apply for the passport. The whole process takes within 60 days after application submission.

For further information on Dominica’s citizenship by investment program and detailed procedures, contact us for a free private consultation.

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