News of Dominica's Citizenship by Investment Program: Who Can Apply for Citizenship Along with the Investor

After the completion of quarantine measures caused by the coronavirus pandemic, Caribbean countries began a new wave of attracting investment to strengthen their economies, which had suffered from a prolonged lull in the tourism industry.

One by one, small island nations are changing their investment programs to make them more popular. In June, such changes were made to the Commonwealth of Dominica's program. What are these changes and who might find them appealing? Read on for more details.

What did Dominica offer before the changes?

It was possible to obtain citizenship in exchange for investments through two options:

1. A non-refundable contribution to the National Development Fund starting from $100,000.
2. Real estate purchases start from $200,000. The property can be rented out and sold after five years without affecting the retention of citizenship.

What part of the program has become more flexible?

• The list of relatives eligible to participate in the program, provided they are financially dependent on the investor, has been expanded.
• The investment amount for family applications with the non-refundable option has been reduced.
• The real estate investment amount has not changed.

Who can now apply for citizenship with the investor?

The full list is as follows:

• The spouse of the main investor.
• Minor children, both common and from previous marriages.
• Children of both spouses aged 18 to 30. New! Previously, a notarized statement confirming student status was required. Now, a simple certificate from the educational institution suffices.
• Children with disabilities, regardless of age.
• Parents, grandparents of both spouses. New! Proof of cohabitation with the investor is no longer required.
• Siblings of both spouses, including non-biological ones. Their age must be at least 18 years, without an upper limit. At the time of citizenship application, they must be single and childless. However, for each sibling, an additional $50,000 must be paid.
• Children born to the main investor after obtaining Dominican citizenship.
• Spouses of the main applicant’s children, with an additional fee of $50,000 and a mandatory due diligence check.

Importantly, the Dominican government has simplified the application process for dependents, with the main applicant now only required to swear that all relatives are financially dependent on them. No supporting documents are needed.

Investment amount changes

Good news for dependents: the cost of a family application for the non-refundable contribution option has been reduced by $25,000. Here’s how the revised statistics look:

• The family package does not include siblings.

Thus, the updated investment program will likely become more popular among investors with family members. Explaining the rationale behind these innovations, Dominica’s immigration officials emphasized the humanitarian goal — to help investors reunite with their families and provide them with a haven during the global coronavirus pandemic.

Specialists from GARANT.in Emigration Center will help calculate the total cost for your particular situation and provide legal support throughout the process of obtaining Dominican citizenship.

Dominica's Prime Minister States Secret Bay Will Boost Integrity of CBI Program

The Residences at Secret Bay, a condominium complex at Secret Bay recognized as a qualifying investment for Dominica’s Citizenship by Investment (CBI) program, is nearing the completion of sales for Phase 1. This has earned high praise from the Prime Minister and Finance Minister of Dominica, the Honorable Dr. Roosevelt Skerrit, during a webinar featuring Dominica’s CBI program.

In an interview, Prime Minister Skerrit received positive feedback for his policies, Dominica’s low COVID-19 rates, and for Dominica's CBI program recently ranking first in the prestigious CBI Index, the top resource cataloging all active CBI programs worldwide, conducted by Professional Wealth Management, a publication of the respected Financial Times. With second citizenship emerging as the most sought-after asset this year, the Caribbean “Nature Island” has secured a leading position among citizenship-by-investment programs, earning the title of “Best Country in the World for Second Citizenship” for the fourth consecutive year.

When asked about The Residences at Secret Bay, Prime Minister Skerrit said:

“[Secret Bay] will enhance the integrity of our [CBI] program. The project [by Gregor Nassif] focuses on environmental preservation. I would tell everyone listening that by investing in Secret Bay, you can be confident in your investment’s return. This is a project unlike any other in the Caribbean.”

Prime Minister Skerrit also shared why Dominica consistently tops the rankings as the best citizenship-by-investment program in the world, citing six reasons:

1. Competitive entry-level capital investments: At $100,000 for a direct donation or $200,000 for approved real estate, Dominica is far more affordable than other countries, where amounts can reach several hundred thousand to millions.
2. Travel and residency requirements: There is no need to visit or reside in Dominica before, during, or after the citizenship process, making it flexible for investors.
3. Reputation and longevity of the program: Established in 1993, Dominica’s CBI program is one of the oldest in the industry.
4. Efficient and transparent processing: Dominica has a streamlined approval process, with applications typically processed in less than three months.
5. Robust due diligence procedures: Dominica uses both regional bodies and international firms to ensure high levels of background checks.
6. Innovative family policies: Prime Minister Skerrit recently introduced major changes to the CBI program, expanding the number of family members who can apply under the same application or even after the main applicant has obtained citizenship.

Also present at the webinar, Gregor Nassif, owner of Secret Bay and Chairman and CEO of GEMS Holdings Limited, commented:

“Investing in The Residences [at Secret Bay] is an investment in Dominica. I am glad to have the support of Prime Minister Skerrit and to see that The Residences at Secret Bay is playing a key role in Dominica’s CBI program, enhancing its integrity and attracting investors from all over the world.”

Prime Minister Skerrit personally invited Secret Bay to join his CBI program and further stated:

“By investing in Secret Bay, you are entrusting your investment to a gentleman of utmost integrity, Gregor Nassif, and the project itself is sustainable, making it a sound investment.”

This praise for Secret Bay was directed at the six-star villa resort, named the No. 1 resort hotel in the Caribbean, Bermuda, and the Bahamas and the No. 6 resort in the world by Travel + Leisure magazine, along with the recent announcement of sales successes, including a surge of interest from Americans seeking second citizenship. The second phase of construction of four new Hillside Ti-Fèy villas is set to be completed in November, with more villas set for release by early 2021.

The Residences at Secret Bay is the only government-approved real estate project in Dominica offering options for both vacation home buyers and citizenship investors. Due to the high demand from rural homebuyers, The Residences at Secret Bay offers citizenship investors unmatched access to the rural home resale market.