Important Questions about Dominica CBI and Passports Now Answered

Are you about to get CBI in Dominica but unsure where to start? Your first step should be studying what industry experts answer to frequently asked questions regarding Dominica economic citizenship.

Dominica hosts one of the world’s most prestigeous and well-respected citizenship by investment programs. Foreign capital inflow resultinig therefrom has already greatly benefited the Caribbean state by bringing along innovations in the country’s acgiculture, together with major developments in eco-tourism and industrial sector. New infrastructure, schools, and hospitals have been built, with the construction financing coming from profits generated via the above CBI scheme. 

You are welcome to look through frequently asked questions from potential investors considering an oppportunity to get the country’s passport and become its economic citizens by applying for the Carribean CBI program. Immigration agents licensed by the government of Dominica alongside with other renowed industry pros are here to answer them.

What is the optimal way for me to invest in the Caribbean country’s economy to acquire my Commonwealth of Dominica passport together with economic citizenship therein?

Applicants for the  Dominica citizenship by investment program will benefit from an opportunity to choose any of the 2 ways to meet their financial commitments to the new home country:

1. Economic Diversification Fund

To begin with, the applicant may donate upwards of USD 100,000 to the account held by the country’s Economic Diversification Fund (EDF for short). Tne money accumulated thereon is channeled to priority projects implemented by both the government and the private sector to facilitate development of the Caribbean state.

Funds supplied by EDF are used to inspire important initiatives in the Dominican agriculture and tourism industry, finance renewable energy generation projects, as well as multiple initiatives to improve the infrastructure in Dominica.

The minimum amount to be donated to the government-supported EDF fund shall be increased, where the applicant wishes to include their financially dependent family members as co-applicants therein.

2. Citizenship by investment in Dominica properties

For another thing, investors may purchase real estate in Dominica upwards of USD 200,000. They are welcome to buy properties in any of the development projects pre-approved by the country’s government. The list thereof is long enough – suffice it to say, it includes eco-resorts, hotels, and villas, among other real estate units. For certain properties, the minimum investment amount may exceed the above threshold.

Is real estate purchase in Dominica a smart investment?

Due to major destruction brought to Dominica by Hurricane Maria back in 2017, the Dominica government had to spend a generous amount of public funds for infrastructure restoration and stability imporvement, with a second ambitiois goal being to provide support for the country’s emerging eco-tourism sector..

The Dominica economic citizenship initiative turned out to be advantageous for the above purposes, as it secured financing for major hotel construction projects implemented by several internationally acclaimed brands, with Kempinski and Hilton among them. Dominica investment appeal in genaral and the local resort real estate market in particular witnessed a major upturn with the anchor brand arrival.

Today, applicants for Dominica CBI have the right to invest in popular tourist resorts and hotels recognized by distinguished mass media, with Conde Nast Traveller and various international tourism bodies among them.

When the COVID-19 pandemic broke out in March 2020, the result was major detorioration in both the tourist industry and on the real estate market. Compared to the pre-crisis 2019, when around 90,000 foreigners visited Dominica, tourist numbers decreased almost 4 times and made 23,000 by the end of the first pandemic year. The decline intensified next year, resulting in a 6 times smaller guest number in Dominica (15,000) versus the pre-crisis year.

In 2022, the trend shifted once again amid the removal of epidemiological restrictions. Based on H1 results, tourist numbers have already exceeded the total 2020 figure. The 2019 pre-crisis tourist traffic level is forecast to be restored in 2023. With tourist flow on the rise again, real estate market tendencies are about to imporve significantly, thus encouraging price growth and return of real estate investors to the market.

What benefits does the Dominica economic citizenship initiative offer to potential applicants?

Successful applicants for Dominica CBI will enjoy the right to reside in a magnificent exotic country housing lush tropicalo forests, sea reefs, and luxurious beaches. Its beneficiaries are fully authorized to live and work in Dominica, just like the country’s native citizens.

With a Dominica passport in your pocket, you will enjoy an opportunity to travel the world either visa-free or get your electronic visa or visa-on-arrival to approximately 140 countries, states, and territories around the globe. The country’s passport holders may visit China, Great Britain, and Schengen states without receiving a visa first.

Although obliged to pay a personal income tax on their income originating from any regions around the globe, Dominica citizens permanently residing in the Caribbean state and being its tax residents, face no inheritance, gift, wealth, or capital gain taxes. Dominica tax residents only pay a personal income tax on their income originating from Dominica.

An opportunity to use their second passport issued in a neutral Caribbean state instead of a toxic home country passport is a nice bonus for the Dominica CBI applicants. This brand-new passport comes useful when dealing with banks and government officials throughout the world.

Are applicants for Dominica economic citizenship authorized to apply for the country’s CBI program on their own?

Individuals willing to invest in CBI in the Caribbean state to get their passport in Dominica should do so through a duly authrized immigration agent, with a license from the Dominica government. You may find the list of such authorized immigration agents on the official website of the Dominica Citizenship by Investment Unit. It is vital that you make sure the firm or company you pick for Dominica immigration purposes possesses a valid government license. Often as not, immigrant investors are scammed, with scammers posing as accredited and licensed immigration agents. To avoid the danger, be sure to look up the agent’s name in the above list published by the Dominica Citizenship by Investment Unit. 

Is residing in Dominica necessary to obtain citizenship therein?

In fact, it is not. An applicant does not need to reside in Dominica eitner before or after they receive their Dominica CBI. It is not necessary for them to live in the jurisdiction throughout the application processing period.

Shall I visit Dominica before receiving citizenship therein?

Visiting Dominica to apply for CBI in the Caribbean state or go thorugh any other procedures is not required. You may do it all online, assisted by a licensed immigration agent. That aside, visiting the jurisdiction to get to know it better sounds like a superb idea for would-be citizens. A personal visit always pays where you need to obtain your CBI as a real estate buyer, as in this case you are in a position to take a personal property tour and see the real estate you picked with your own eyes.

Do I have to come to Dominica for an interview?

The Dominica Citizenship by Investment Unit does not require that CBI applicants attend any interviews, document their previous business experience, or provide evidence of their official language skills (English in case of Dominica).

Caribbean officials may still oblige certain applicants to visit the island state for a personal interview. Where this is impossible, the interview in question may be held outside the Caribbean country, provided the applicant pays all the related expenses.

The interviews described above are required to evidence the applicant’s good intentions and their meeting all the CBI cirteria. The country’s government wihses all new economic citizens to share the values of this tiny and safe country known for its friendly and sincere people. It is vital for all applicants to be aware of the fact that Caribbean officials require the said applicants to furnish them with the information on the applicant’s income sources to make sure the invested funds are legal.

What shall the applicant do to receive their Dominica passport under the local CBI program?

Having seleced an authorized immigration agent to act on their behalf, the CBI applicant in Dominica shall do several essential things to get their passport and economic citizenship in Dominica:

1. complete all official forms
2. get a medical check-up
3. receive the necessary supporting documents in English, with original copies and notarized translations thereof attached. Real estate investors will submit the document certifying the corresponding funds necessary to make the sale and purchase agreement later on have been set aside
4. go thorugh the due diligence process, including, inter alia, the required background checks
5. engage with the Dominica Citizenship by Investment Unit.. At this stage, the authorized immigration agent hired by the applicant handles all correspondence and/or answers any additional questions coming from the Dominica Citizenship by Investment Unit.
6. make a donation to EDFor invest in the pre-approved real estate development project after your application has been granted.

How long does it take for your Dominica economic citizenship application to be processed?

Experience has proven that the time period  since the application submission till the day the Dominica CBI application is granted or refused makes up around 3 months.

Is CBI application submission and processing confidential?

The CBI appllication submission is completely confidential. No information about the immigrant investor ever becomes public or is shared with the states of their previous residence or origin. It is only the Dominica Citizenship by Investment Unit and duly authorized independent international detective agencies that dispose of the information about the applicant, as they are in business of carrying the necessary background checks when so ordered by the Caribbean authorities.

Assistance for investors wishing to obtain a Dominica passport

Would you like to know more about the Dominica citizenship by investment program? Have you already made your plans and are about to apply for economic citizenship in the jurisdiction and acquire a Dominica passport to start a brand-new life abroad, diversify your assets, or achieve any other goals? The International Wealth industry pros are here to land you a hand with any issues bothering you.