Dominica may be a small island in the Caribbean but the waves it is making through its citizenship by investment platform is massive. Since its inception in 1993, the whole world has stopped and paid attention to what this island is doing.
Dominica sees its investors as partners in their quest for economic growth. That is why they keep improving their methods and policies to attract high net worth individuals to their country. Even though they do not share data of the number of applicants with the public, the ever-increasing public revenue fund shows the program is doing well.
Point is, since the program is doing well for the country, it should be doing well for investors as they are partners, right?
Here, you’ll see why you should jump on the train and get a Dominica passport. Luckily, Dominica has made this easier through their citizenship by investment program.
What Dominica Citizenship by Investment Entails
This program was set up by the government of Dominica to reward investors with valuable citizenship that’ll allow them to enjoy so many benefits.
This way, Dominica gets a stream of investors coming in and the investors get citizenship.
Dominica has the joint cheapest citizenship program and you can get a Dominica passport when you donate a non-refundable $100,000. This figure increases when adding members of your family.
There’s also an option of investing in real estate worth a minimum of $200,000 for individual investors.
Why you should get Dominica Passport
There are several reasons why you should get a Dominica passport by investing in the country through their citizenship program.
Here are some of the top reasons:
- It is the Cheapest
Price is a strong pull for investors looking for a second passport and if you decide to go through the donation route as an individual, you’ll not get a more affordable second passport than Dominica’s.
Dominica offers its investors an affordable route to getting a second passport at just $100,000.
- Tax Benefits
Another huge factor investors consider before choosing a second passport is the tax benefits. Nobody wants to be over-taxed on their income and Dominica understands this pain.
There is no tax on worldwide income, letting you keep all your money if you don’t reside in Dominica. Some investors may not want to reside in the country after gaining citizenship. Dominica will not tax your income if you don’t live in the country.
There is also no wealth, inheritance, or gift tax. Theirs is a long-standing treaty with the US and CARICOM against double taxation. Several tax incentives and tax holidays are also in place to help its citizens.
- Your Citizenship is for Life
Dominica citizenship has no expiry date and will last for life. No need to worry about losing your citizenship.
- Visa-Free Entry to Over 140 Countries
Dominica passport offers you visa-free access to over 140 different countries which include the UK, EU Schengen zone, Malaysia, Singapore among others.
If you’ve ever had visa troubles when travelling, you’ll understand the need for a stronger passport. Your business and leisure travels will just get easier and enjoyable.
- Dual Citizenship Allowed
Dominica allows its citizens to hold dual citizenship so you do not need to renounce your first citizenship when collecting your Dominica passport.
Holding two citizenships is very beneficial and Dominica will not take that away from you.
- Seamless Application and Approval Process
Unlike some other programs where you need to visit the country during the application process for an interview, you do not need an interview, nor do you need to visit Dominica at any time during your application.
There are no history or language exams to test your proficiency.
- Your Family can Also Obtain Citizenships
Members of your family can be added to your application and given passports within 3 to 4 months. Your children under 30 years and dependent parents and grandparents over the age of 55 are eligible.
- Beautiful Second Home
Known as Nature Island of the Caribbean, Dominica is a beautiful island with wonderful beaches and waterfronts. It is a good place to take vacations with family to enjoy its many tourist destinations.
These reasons, alongside many others, are why thousands of people are joining Dominica’s citizenship program. You too can partake from the endless possibilities it brings by getting your passport.