Dominica Citizenship for a Businessman from Pakistan

Friends, you often ask – do I have to live in a new country after obtaining a new citizenship? This question can’t be answered definitively. Some countries have residency requirements, while others don’t. In this latest case, we’ll share the story of a client who initially planned to obtain new citizenship for global tax optimization and work with European banks. What came out of it? Read our new exclusive case.

Client Story: Dominica Citizenship for a Businessman from Pakistan

Our client, Said, 47, is originally from Pakistan. He has lived in Russia for the last few years and owns several successful companies. To protect his earnings and reduce tax pressure, Said decided to open accounts in several European banks. Citizenship in another country would help him optimize taxes, access European banking products, and allow visa-free travel to various countries worldwide.

By the time the client contacted our company, he already had systematic knowledge of various investment programs that offered residency status. Before coming to us, Said considered several options:

• Cyprus Permanent Residency. The client was attracted by the relatively simple conditions, permanent status, and tax optimization. However, the entry cost was quite high: €300,000 for real estate purchase + €50,000 confirmation.
• Spain Residence Permit. There are no strict residency requirements. The program's conditions have remained stable for several years. However, the participation cost is high – €500,000, and the tax system isn’t the most favorable in Europe.
• Malta Residence Permit. The entry cost is relatively affordable with real estate purchases starting at €200,000, allowing for tax optimization and no residency requirement. However, living in Malta itself is quite expensive.

Said approached us with these options, seeking the optimal solution. We immediately drew the client's attention to the fact that he was only analyzing European programs. During the conversation, we clarified his goals and suggested considering the Caribbean programs, which meet almost 100% of his needs and are more affordable. Additionally, participation in these programs allows for obtaining a passport directly, not just a residence permit.

Together with the client, we analyzed various programs and decided to apply for Dominica citizenship. Said received his passport within just 3-5 months. The process is straightforward and transparent. The program has been active since 1991, and we have extensive experience working with it, knowing all the nuances. Our client applied for citizenship in June 2024, so below, we provide the old participation fees for the program.

There are two ways to enter the Dominica program:

1. A non-refundable contribution to Dominica’s Economic Diversification Fund – $100,000 for a single applicant + $10,500 in administrative fees.
2. Purchase of a share in a government-approved tourism real estate project. After 3 years, the investment can be sold, allowing you to recoup the funds while keeping the passport and privileges. Participation costs start at $200,000 for a single applicant + $35,500 in administrative fees.

Said liked the option of obtaining citizenship through a one-time contribution to Dominica’s Economic Diversification Fund. It was several times cheaper than participating in any European investment programs.

Advantages of Obtaining a Caribbean Passport

Many of our clients don’t fully understand the benefits of obtaining a Caribbean passport. Some ask – how can I practically use the passport?

When discussing a program, we always highlight all the advantages, starting with freedom of movement. In 2024, Dominica ranks 71st in the Passport Index, allowing its holders to travel to 70 countries visa-free.

In addition, the new citizenship allows you to:

• Optimize taxes and reduce the tax burden.
• Register a new company or re-register existing businesses in another jurisdiction.
• Open accounts and use other products in international banking institutions.

Tax Optimization with Dominica Passport

Our client had income from several official sources. One of the main income streams was dividends from shares of a company, which was later re-registered in Dominica. Additionally, Said often provided consulting services as a specialist in his field, working as a private individual under civil law contracts.

Preliminary calculations showed that Said could reduce his tax payments by approximately 2.5 to 3 times if he became a tax resident of Dominica.

The Step-by-Step Process of Obtaining Dominica Citizenship

Before starting cooperation with the client, we conducted a preliminary due diligence check. This is our mandatory rule for every client, and it remains unchanged. A preliminary analysis helps identify potential risks of refusal and protects the client from unnecessary expenses and actions. The background check takes one day and requires a valid passport. Based on the results, Said was 99% suitable for the citizenship-by-investment program.

Document Collection and Submission

After passing our internal check, we began collecting the necessary documents and submitting the application for the citizenship-by-investment program. Based on the document review, the authorities may decide whether the candidate needs to undergo a due diligence check (cost: $7,500, one-time fee).

Required Documents:

• Identification document.
• Color copies of all current passports.
• Completed application form No. 12 in two copies.
• Driver’s license (if available).
• 8 passport-sized photos.
• Military service certificate (if applicable).
• Employment certificate or documents confirming income.
• Biometric data.
• Medical examination certificate confirming the absence of dangerous diseases.
• Birth certificate.
• Divorce certificate (relevant in our case).
• Bank statements for the past year.
• Criminal record certificate from the country where the applicant lived for the past 6 months.
• Tax receipts, and business reports.
• Proof of payment of fees.

While the due diligence check was in progress, we assisted our client in finding housing in Dominica. Said doesn’t plan to move there permanently yet, but he wants to spend as much time as possible on the island. We found a small house for him in Roseau. Thanks to our reliable contacts, we checked the property’s legal status and signed a six-month lease with an option to extend.

Investment Contribution

After successfully passing the due diligence check, we submitted the documents to Dominica’s authorities. Since this was a single application, the review took only 1.5 months. After the review, we assisted in making the investment contribution, paying taxes, and other related fees.

Obtaining the Passport

The passport was issued in Dominica, where Said flew to resolve several matters and sign the lease agreement. We remotely assisted him in obtaining a social security card, SIM card, and local driver’s license.

Tax Residency Registration

We decided to highlight this process in more detail since it’s not a common occurrence, and we have the opportunity to explain how it works. In Dominica, tax residency registration involves several stages. At the initial stage, you must reside in the country for at least 183 days per year. For this reason, we rented a house on the island for our client.

Permanent Address Registration

To file tax returns, you must provide a permanent address in Dominica. In our case, it’s a long-term rental property. Since our client hasn’t yet decided whether he’ll live permanently in another country, he opted for long-term rental. The rent was paid by a relative living in France via their bank account.

Obtaining a Tax ID

The Tax ID is an individual taxpayer number in Dominica. It’s required to register in the island’s electronic taxpayer database. Unlike tax identification numbers in other countries, obtaining a Tax ID in Dominica doesn’t automatically grant the right to pay taxes to the state treasury.

Dominica’s Tax ID can be used to open accounts in European or American banks. Financial institutions verify the applicant's reliability and confirm their identity. Caribbean tax residents’ identification and analysis are processed twice as quickly because Caribbean countries provide complete information about citizens and tax residents upon request from banks.

Our lawyers started preparing Said’s application for a Tax ID as soon as we received a copy of the lease agreement. To obtain the taxpayer number, they filled out a special form, listing Said’s new address in Dominica. The application included the lease agreement and a copy of Said’s Caribbean passport. The documents were submitted to the island’s tax authority. The application was reviewed and approved within 4 days. Our client was added to the database and received a document confirming the Tax ID with a unique taxpayer number. The new citizen and tax resident also gained access to a personal account on the official tax service portal.

Obtaining a Tax Code

To become a full-fledged tax resident of Dominica, a Tax Code is required. Only after obtaining this code can tax declarations be filed with the country’s tax office. We informed Said in advance that he would need to reside on the island for more than 183 days to become a tax resident of Dominica. The Tax Code can be obtained by requesting it from the country’s tax office. The request is made through the personal account on the tax service portal.

We helped our client apply for the Tax Code. Said’s taxpayer identifier was assigned within 2 days.

During the tax residency process, we collected and submitted the documents that had already been prepared when applying for citizenship. The collection, submission, and verification took minimal time. Said received his Tax ID and Tax Code while already in the Caribbean.

Results of Our Cooperation

Our client was very satisfied with the work we did. He is now actively expanding his client base, working on creating a dedicated website for a new audience, and considering opening a branch in the Caribbean.

“I was incredibly lucky to work with such a talented team of professionals. I don’t know how they did it, but completing such a large amount of work in such a short period is unbelievable! And everything was done in my best interest, taking into account all my preferences. Now I can assess all the advantages of our cooperation:

• I am a tax resident of Dominica, where I pay much lower taxes than in other countries.

• I easily opened an account in a European bank after completing all the necessary procedures.

• I have an investment, and soon I’ll have a new income from my Caribbean business.

• Most importantly, I feel safe. This was my number one goal.”

As of today, Dominica is the best choice for Said’s goals.