Recently, the Dominica government officially released the latest immigration policy, announcing major adjustments to the Citizenship by Investment Program.
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policy tightening
Accompanying Person Requirements and Scope Changes
? If the children of both parties are under the age of 18, they do not need to provide a proof of study; if they are 18 to 30 years old, they need to provide a proof of study; if they are unmarried daughters between the ages of 18 and 25, they do not need to provide a proof of study;
? The age limit of both grandparents is over 65 years old;
? Sisters and step-parents of both parties are no longer included in the entourage.
Change in investment amount
? On government investment projects, the cost of additional dependents under the age of 18 is halved to only $25,000;
? In the Additional Contribution Amount Clause for the Real Estate Investment Program, delete the option “$70,000 for a family of 7 or more including the main applicant and at least 6 dependents”. Compared with the previous policy, more than 7 people need to pay an additional $5,000 to the government.
Passport name change is strict
According to the latest policy, the Dominica passport name change needs to meet the following requirements at the same time:
? You can apply for a name change only after you have obtained citizenship for more than 5 years;
? The permanent residence of the person applying for a change of name must be in Dominica;
? The name change information will be published by at least two Dominica newspapers for two months and the official announcement for one month.
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Immigrate sooner rather than later
For a long time, the passport status of Caribbean island countries is known for its advantages such as low application threshold, simple procedures, short cycle, no immigration supervision, and recognition of dual nationality.
In the 2022 Global Citizenship by Investment Program Ranking, Dominica topped the CBI ranking with a score of 81, ranking first for six consecutive years. Among them, Dominica scored full marks in the six indicators of minimum investment, immigration supervision, processing difficulty, due diligence, family, and project certainty.
It has won the first place for six consecutive years, with full scores in 6 indicators, all showing the huge investment value of Dominica. At present, Dominica is tightening its policies, and investors should make plans as soon as possible!
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Quick Facts About Immigrant Investment Programs
According to Dominica's Citizenship by Investment Program, foreigners can legally acquire Dominica citizenship by donating to the government (economic diversification fund) and investing in real estate.
#economic diversification fund
The Economic Diversification Fund (EDF) is a program of the Dominican government that supports socioeconomic initiatives aimed at advancing the country. Applicants can obtain economic citizenship of Dominica by making a contribution to their EDF. Its endowment funds are used to improve public and private sector projects that require financial support.
Donation Request
? USD 100,000 for the main applicant;
? USD 150,000 for the main applicant and spouse;
? $175,000 for the main applicant and up to three dependents;
? $25,000 for any additional dependents under the age of 18;
? $50,000 for any additional dependents 18 or older.
#real estate investment
Dominican citizenship is obtained by purchasing $200,000 of authorized real estate under its citizenship by investment program, where the real estate must be held for three years from the date of citizenship.
Application requirements
Purchases of real estate valued at least $200,000 are subject to the following government fees:
? Main applicant, USD 25,000;
? USD 35,000 for the main applicant and up to three dependents;
? USD 50,000 for the main applicant and up to five dependents;
? Any additional eligible dependents, $25,000 per person;
#dominicaimmigrantadvantage
Dominica's immigration has many advantages, which are reflected in the loose conditions and low application threshold, which attracts high net worth individuals from all over the world to choose their passports as their second identity.
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Travel all over the country
For the second year in a row, Dominica has been the Caribbean country with the largest number of new visa exemptions and visas granted. At present, there are 164 visa-free countries, including the United Kingdom, Europe, Singapore, Russia and other countries.
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business incentives
No personal income tax, inheritance tax, gift tax, inheritance tax, foreign exchange income tax, capital gains tax. Enterprises are completely exempted from import duties and enjoy tax relief and export subsidies.
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relaxed conditions
There are no requirements for the applicant's age, education, and English ability; no management experience, no requirement for the amount of assets, and no need to provide proof of the source of assets; the application documents are simple.
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no immigration
Applicants are not required to land and live in Dominica, and can live anywhere in the world. It is an ideal choice for those who have business and industry in the country and elsewhere.
The above are the two ways to immigrate to Dominica and the relevant application requirements. Although the current policy is tightened, the advantages are still very significant. It is recommended to plan early for investment immigration. If you are interested in immigrating to Dominica, please contact Xingyunhai International~
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