World: More than just a second Citizenship, the Citizenship by Investment Programme (CBIP) of Dominica represents industry transformation across agriculture, healthcare, economy, and most importantly, the housing sector of the Commonwealth of Dominica. Most of the countries offering CBI are also embracing Dominica as a path to enhancing world relationships and experiences, streamlining the value of Citizenship, and gaining a competitive advantage.
No matter how hard natural calamities hit Dominica, the Citizenship by Investment Programme always assisted in rebuilding the nation and securing jobs.
According to statistics by World Bank, the nature island suffered major economic devastation after tropical storm Erika (2015) and category five hurricane Maria (2017) made landfall in the country, impacting a dropdown of over 224% of the total GDP (Gross Domestic Product). About 90% of the infrastructure was damaged, and all hopes were shattered. Nevertheless, like all other countries, Coronavirus lockdowns also significantly impacted the economy as tourism was shut, and people were house strapped for months.
Citizenship by Investment Programme of Dominica recused the country from all the calamities whether originated by nature or health crisis. The programme helped the nation to build more than 1000 climate-resilient houses to endure any category five hurricane in the future. Prime Minister Roosevelt Skerrit has announced to construct a total of 5000 homes, safeguarding the population at large. Dominica is also on the road to become the world’s first climate-resilient nation.
Further, the programme also helped the government introduce several stimulus packages during and after the COVID-19 lockdown period. Salaries to all government employees were paid on time, most of the infrastructure work kept going on, including the construction of dilapidated bridges, hospitals, roads, and all other public infrastructures.
Restoring the lives of many while securing the future of people in Dominica, Prime Minister Roosevelt Skerrit’s administration attributed effective fund management and investment to the ‘Housing Dominica’ initiative. In a message to people post-hurricane, PM Skerrit announced that he would not stop until every family in Dominica has a climate-resilient roof over their head.
A positive feat of Dominica upsurged the values of the CBI Programme as it ranked number one in the world for the past four consecutive years. CBI Index of PWM magazine published by Financial Times, termed it as best Citizenship by Investment Programme comparing an evaluation of each country in both overall and within the parameters of the nine pillars, which prominently include, Freedom of Movement – Standard of Living – Minimum Investment Outlay – Mandatory Travel or Residence – Citizenship Timeline – Ease of Processing – Due Diligence – Family – Certainty of Product.
Citizenship by Investment Programme of Dominica tops five pillars out of nine, including Minimum Investment Outlay starting from only US$100,000 for a single application – which is currently the lowest among all others. No mandatory travel or residence is required to obtain Citizenship in Dominica.
The unit also conducts thorough due diligence for security matters; verifying an applicant’s identity is one of the strict due diligence processes. Among CBI offering countries, only Dominica, St Lucia, and Grenada are the ones that allow siblings to join a single application, including all other family members. Dominica has a strong image in the matters of certainty of the product. According to the timeline, Dominica’s CBI Programme is among the founder members, which originated in 1993 – St Kitts and Nevis remain at the top as the country introduced the programme in 1984.
Visa Free access
Dominican citizens can travel up to 144 countries around the world without obtaining a prior visa. It includes a wide range of nations in Europe, Africa, the Americas, Asia, and Oceania.
Family Legacy
Citizenship by Investment Programme of Dominica also gives the ability to pass down the Citizenship to future generations encouraging more family integration.
No Mandatory Travel or Language requirement
Obtaining Citizenship through the CBI programme does not require travel to Dominica. The nation also does not have any language restrictions which are spoken in your home countries.
Right to Hold Dual Citizenship
The Commonwealth of Dominica recognizes dual Citizenship. It would not be mandatory for the applicant to surrender his/her previous Citizenship unless their home country’s law does not allow it.
The CBI Unit of Dominica states that there are currently two options for people to opt-in for second Citizenship. The first is the Economic Diversification Fund (EDF) and investment in government authorized Real Estate properties in Dominica, including luxury hotels.
Economic Diversification Fund (EDF) – Supporting major public and private projects within Dominica, the fund covers industries including education, healthcare, sport, and tourism. Citizenship aspirants can contribute US$100,000 to the EDF to obtain Citizenship. Additional fees may apply in case there are other dependents of the family.
Real Estate – An another investment opportunity for people interested in obtaining Citizenship is to invest in a government-approved property within the country. The buyer will have to hold possession of the particular property for at least three years. The value of the property must be at a minimum of US$200,000. Government fees starting from US$25,000 may also be applied per applicant.
Due Diligence
Retaining the top position in the CBI charts is credited to the thorough Due Diligence process, which is termed as the most stringent measures. Dominica’s economy is one of the fastest-growing economies in the region, which is only possible because of well-vetted investors and their contributions. To protect the integrity of the programme, Dominica executes background checks internally and through external parties. According to the Dominica government, to obtain Citizenship, Due Diligence is mandatory for all applicants over 18.
5 Steps:
Step 1: Choose an Authorised Agent: The first step involves choosing a government authorized agent – officially licensed by CBI Unit – to process your application.
Step 2: Contact your Authorised Agent: Contacting your authorized agent will provide you with the best way to prepare your required documents and submit those papers.
Step 3: Background Checks: As discussed earlier, background checks involve a thorough vetting of an applicant. Due Diligence will verify the information that an applicant has submitted to the unit.
Step 4: Discussion with CBIU: After completing all paper formalities and documentation collection, the authorized agent will apply to the CBI unit. As Dominica does not require an applicant’s interview, the agent will reply to all the CBI Unit’s questions and queries.
Step 5: Payment and Certification: After the application’s approval, the investor will be asked to contribute a payment either in EDF or Real Estate option. Soon after receiving the confirmation of the payment, the citizenship unit of Dominica will issue a certificate of registration (Which stands as evidence of Citizenship and will be used to apply for a Dominican passport).
Citizenship by Investment Programme of Dominica continues to be the first choice of aspirants of second Citizenship. Dominica has been holding the tag of the World’s Best Citizenship by Investment Programme for four years in a row. It is also among very few such programs that allow siblings to be part of one application.
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