Dominica: Business Visas and Citizenship Processing

Dominica Will Launch an Entrepreneur Visa with a Path to Citizenship for 2 Years

In a press release published today, Advance Global Partners from Roseau announced a partnership with the government of Dominica to implement a new Entrepreneur Visa program. Under this program, those who invest a minimum of USD 50,000 and spend at least three months per year in the country will be eligible for naturalization within two years.

The full text of the press release is as follows:

Roseau, September 7, 2020 — On Sunday, the Commonwealth of Dominica announced the upcoming launch of the Entrepreneur Visa — a unique platform for entrepreneurs. This one-of-a-kind visa reflects the government's interest in offering special status to applicants who make significant financial investments in the country, thus contributing valuable foreign direct investments to the private sector. Moreover, it clearly outlines the requirements for residency through investment, encouraging further contributions to the island. Finally, this program provides additional opportunities for engagement with investors seeking alternatives beyond the Citizenship by Investment Program.

An applicant for the Entrepreneur Visa will receive a 2-year residency, which will be issued within 45 days of approval. After two years, they may apply for naturalization, provided they meet all the criteria.

Applicants have three (3) investment options:

Option 1

• Invest a minimum of USD 50,000 in an existing government-approved company through the Investment Fund.

Option 2

• Invest at least USD 100,000 in a new startup business registered in the Commonwealth of Dominica, employing at least three full-time employees.

Option 3

• Invest in a government-approved public or private enterprise as an equity investor.

What are the requirements?

The requirements are straightforward:

• Deposit a minimum of USD 100,000 in a local financial institution (note that the funds may be used from Dominica during the residency period);
• Spend at least 90 days in the country out of 365 days per year.

What are the advantages of Dominica’s Entrepreneur Visa?

• A path to Dominica citizenship (visa-free access to 140 countries, including the Schengen Area).
• Permanent residency for the entire family, including children up to 21 years of age.
• Fast processing time.
• Favorable tax regime.
• A peaceful and clean environment, with low pollution levels.
• Excellent quality of life in a tropical climate.
• Political stability.
• An ideal program for those living abroad but seeking another country of residence for themselves and their families, for tax planning and other purposes.
• Visa-free travel to CARICOM countries.
• Ease of doing business in the Caribbean and beyond.
• Investors will gain real added value through their contribution to a society they intend to join as citizens and residents.

GARANT.in Reviews. Dominica Citizenship

Dominica’s Economic Citizenship Program is one of the most advantageous in the world. In addition to affordability, it has an excellent reputation among international experts and regulatory bodies. It’s worth noting that the program was ranked the best in the annual "CBI Index" twice, in 2017 and 2019.

What makes Dominica’s Program attractive?

It's important to clarify that people often confuse two entirely different countries: the Dominican Republic and the Commonwealth of Dominica. Both have investment programs and are small island nations in the Caribbean, but their programs differ significantly. Only the Commonwealth of Dominica allows investors to obtain a second passport quickly and directly.

Dominica is a very small country with a population of only 75,000 people and an area comparable to the size of New York City. Its economy is highly dependent on tourism and foreign investment, making the success of the investment program vital for the nation.

Nature as part of the economy

Dominica is often called the "Jewel of the Caribbean Sea." This tiny volcanic island, once discovered by Christopher Columbus, is renowned for its beauty. It boasts abundant tropical rainforests but few beaches. Nevertheless, this slice of paradise attracts many tourists interested in short, exciting trips into pristine nature. Local ports are frequently visited by large cruise ships, and newly constructed hotels are rarely empty. Investing in Dominica’s tourism infrastructure is lucrative, with relatively low risks.

The Essence of Dominica's Economic Citizenship Program

In the Caribbean, it has a reputation as a solid and established program. The government introduced it in 1991, but it started operating fully two years later. The key provisions of the program are as follows:

1. Making a non-refundable contribution to the National Development Fund — USD 100,000.
2. Purchasing real estate worth at least USD 200,000. Investors can choose properties only from a list updated annually by a special government commission.

To qualify for Dominica citizenship, the applicant must fulfill one of these two conditions.

Financial details

It is important to note that the mentioned amounts are base figures and apply to a single applicant. A detailed cost estimate can be requested on the GARANT.in website. However, here are some key points:

• The non-refundable contribution for two people will amount to USD 175,000 and for a family of four — USD 200,000.
• The real estate investment requirement does not depend on the number of family members. However, when purchasing real estate, the investor must pay an additional government fee of USD 50,000 for a single applicant or USD 100,000 for a family of more than four.
• After obtaining Dominica citizenship through real estate investment, the resident may sell the property after three years.

What are the benefits of acquiring a Dominica passport?

This country is part of the British Commonwealth, and its passport is highly regarded globally, allowing visa-free (or visa-on-arrival) travel to 139 countries, including China, Singapore, and the UK. Additionally, holders of this passport can easily obtain a 10-year U.S. visa. This freedom of movement is one of the key benefits but not the only one. By becoming a citizen of Dominica, a resident can:

• Conduct business in an offshore zone with favorable tax conditions.
• Keep the acquisition of second citizenship confidential.
• Apply for passports for family members, including dependent children up to 28 years old. Dependent parents are also considered part of the family, with a lenient minimum age requirement of 55.
• Be exempt from taxes on global income, inheritance, and gifts.

The processing time for Dominica citizenship is also among the fastest, averaging 3-4 months. Notably, the entire process can be handled through lawyers and legal representatives without visiting the island. Living there is also not mandatory for residents.

Conclusion

Available statistics indicate that roughly one in three millionaires worldwide holds a second citizenship. Why not acquire one from the Commonwealth of Dominica? While the country is reluctant to share detailed statistics about its program, it's known that more than 20,000 foreign investors have obtained local passports since the program's inception. In recent years, this number has grown by 2,100-2,200 people annually. You can become one of them by using the services of professionals at the licensed GARANT.in center. We’ve successfully handled many cases for Dominica and neighboring Caribbean nations.