Having two or more passports is becoming a trend nowadays. People are used to solving problems quickly as they do on the Internet: if something goes wrong with a website, they switch to another one. In the same way, if something goes wrong in their country of origin (or the bank they use), people simply pack their bags to head for another country where they enjoy their citizen status (or switch to an offshore bank). This is no longer an exotic way of solving possible problems but a norm.

If you want to know more about the opportunity, welcome to our portal where you will find more detailed information on how to take advantage of the passport-by-investment program in Dominica and some other countries. And if you are interested in other Plan B arrangements, you will find hundreds of articles on offshore businesses and accounts and investment opportunities.

However, studying the laws and administrative intricacies of another country may be complicated, so we have a team of specialists who will spare you the effort. Besides, you cannot submit the documents for economic citizenship by yourself as the local authorities in many countries work with registered and licensed agents only. All you need to do is to contact us, ask all questions to make an informed decision, and we will deal with your case.

Dominica: Benefits for Economic Citizens

Each country that has a citizenship-by-investment program offers some perks to prospective citizens to attract them and Dominica is not an exception. Here is a list of what the peaceful and hospitable tropical destination has to offer:

• You will be able to visit over 120 countries without a visa. These include some popular destinations like the UK, the Schengen countries, Singapore, Hong Kong, and South America.
• You can obtain a tax resident status if you live in the country for over 6 months. As a result, the taxes you pay will be very low or even equaling zero (there are no capital gains, inheritance, gift, foreign income, or wealth taxes in Dominica). It sounds like a great relief if you are used to an enormous tax burden in your home country! However, it’s up to you to decide whether you want to live on the island for more than half of the year.
• A second passport can provide the advantages of economic and political diversification, forming the basis of an optimal contingency plan.
• If you don’t need a tax resident’s status and only want to have a Dominican passport, you can live anywhere in the world: there are no obligations to live in the country for any period of time.
• You will get a passport of the Caribbean Community (a CARICOM passport), which will give you an opportunity to freely study, live and work in any Caribbean state.
• Capital import and profit repatriation are not subject to any restrictions.
• If you want to set up a company in Dominica, you will be eligible for various incentives, such as corporate tax breaks and a 100% exemption from import duties.
• The local currency is pegged to the US dollar, so you can rely on its stability.
• Successful candidates have the ability to secure permanent Dominica citizenship, and citizens of this Caribbean country have the right to pass on this status to their children.
• The Dominica citizenship through investment program is one of the oldest projects of its kind available today. Decades of reforms have increased the efficiency of procedures. There's no need to demonstrate proficiency in the local language. Furthermore, the service of passport renewal is provided remotely. Applicants can submit their application directly to an overseas authorized institution (diplomatic mission) or use the services of a migration agent.
• And if you are an investor, you will be able to take advantage of a number of Caribbean duty-free markets.

Moreover, holders of a Caribbean country's passport can apply for a U.S. visa, expecting a 10-year B1/B2 visa issuance. A citizen of a Caribbean country within the Commonwealth also has the ability to streamline the process of obtaining a business visa or residency in many other Commonwealth countries (e.g., Canada / Australia). If this seems like a generous promise to you, you can contact our specialists and clarify any details to make a final decision.

How Much Will You Have to Invest?

The main applicant (who should be at least 18 years of age!) has two options for investment in the Dominican economy in order to obtain a passport:

• 100,000 US dollars to the Economic Diversification Fund (this donation is non-refundable)
• Buy real estate that costs at least 200,000 US dollars (it should be on the list approved by the local government). You will have to hold it for 3 years, and then you have the right to resell it and retain your passport

This amount applies to the situation if you are a sole person seeking economic citizenship, and it increases for each dependent you will include in the collective application.

Let’s take a more detailed look at each of these two options.

Donation to the Economic Diversification Fund

As we have mentioned, one applicant will have to invest 100,000 US dollars. But what if there are several dependents?

Here are the applicable rates:

• 150,000 US dollars if you apply as a couple
• 175,000 US dollars if there are three dependents
• 25,000 US dollars per each subsequent dependent
• 50,000 US dollars if a dependent is the main applicant’s sibling or his/her spouse aged from 18 to 25

Investment in Real Estate

If you decide to buy real estate, additional government fees will be charged per each applicant:

• The sole main applicant will pay 25,000 US dollars
• The couple or a family of 3-4 members will be liable for 35,000 US dollars
• If your family has five to six members, you will need to pay 50,000 US dollars
• And if you are blessed with a big family of seven members and more, the fee payable will amount to 70,000 US dollars
• The main applicant’s sibling or his/her spouse aged from 18 to 25 comes at a 50,000 US dollars’ fee each

Additional Fees

No matter which of the two options you may choose, you will have to pay some minor additional fees:

• 1,000 US dollars’ processing fee per application
• 7,500 US dollars’ fee for security checks for the main applicant
• The same security checks fee will cost 4,000 US dollars per each dependent
• Naturalization Certificate will cost you 250 US dollars per person
• Finally, the expedited fee amounts to 1,200 US dollars per person. It is payable if you want to order an accelerated procedure of passport registration after obtaining the Dominican economic citizenship

Additional fees are also applicable if you want to add more dependents to the approved application. Follow the link above to read the section on Dominica and discover more details.

Conclusion

As we now know, a second passport is a must nowadays. On the other hand, it is an important decision, and you will need to know a lot of nuances to properly realize it. Therefore, the best solution would be to turn to the professionals who will bear the main administrative burden. If you have any doubts, please follow the above link to share them with our experts and obtain useful advice.

Some of our services are free: for example, we will choose a suitable jurisdiction for you at no fee if you don’t like Dominica. Make your first step today!