Dominica Citizenship by Investment Program Review

Of all of the Caribbean island nations offering citizenship by investment programs, Dominica, often referred to as the “The Nature Island” appears to be the least commercially orientated. Passport Reviewer found out what the island had to offer, including its CBI program.

 

Dominica In A Nutshell

The Commonwealth of Dominica is a West Indian island nation that is part of the Lesser Antilles, and is located in the Caribbean Sea. It sits between Guadeloupe, Marie-Galante and Martinique. Dominica was ruled by the British until it was granted independence in 1978, but remains a member of the British Commonwealth, and regards the ruling British monarch – currently Queen Elizabeth II – as their head of state.

Dominica’s prime sources of income are its offshore investment banking sector, tourism, and since 1993, its citizenship by investment program. It is renowned among eco-tourists as an unspoiled and largely unexplored holiday destination. Dominica has deep, dense tropical rainforests, 365 rivers, plus many waterfalls. Dominica is literally a volcanic island and is home to one of the largest Boiling Lakes in the world. The island is a popular outdoor and extreme sports destination, and one of the prime whale watching locations in the Caribbean.

Dominica is a member of CARICOM, CFATF, Caribbean Development Bank (CDB), the Commonwealth of Nations, United Nations, International Monetary Fund, World Bank and Organization of American States (OAS).

 

Dominica Stats:

  • Official Language: English, Dominican Creole
  • Capital City: Roseau
  • Largest City: Roseau (Pop; 16,600)
  • Surface Area: 750 km2
  • Religion: Roman Catholic
  • Population: 72,660
  • Government: Unitary parliamentary republic
  • Legal system: Civil legal system based on Roman law
  • Currency: East Caribbean dollar
  • GDP per capita: $11,500
  • Climate: Warm to hot all year round. Rainy and dry seasons, plus humidity all year round. Almost 2 meters of rain per year, plus hurricanes

 

Dominica Citizenship by Investment Program

The Caribbean is the birthplace of citizenship by investment, with St Kitts and Nevis launching the first ever CBI program in 1984. In 1993 Dominica followed suit, and have continuously ran their own highly successful investor program, providing citizenship and passports to thousands of foreign investors.

 

Investor Options

The Dominican CBI program, presents potential investors with two options, as a single applicant or as a family applicant.

  • Apply As A Single Applicant: As a single applicant, the investor is required to make a non-refundable charitable cash donation of US $100,000
  • As A Family Applicant: depending on the number of children involved, the investor must pay a non-refundable charitable cash donation of US $175,000, US $200,000, or US $350,000

In order to be eligible for the Dominica Citizenship by Investment Program, an applicant must:

  • Be at least 21 years of age
  • Have proof of an outstanding character
  • Be able to prove a clean source of funds
  • Have no criminal record
  • Have a basic knowledge of the English language
  • Provide a letter of intent addressed to the Minister for Citizenship
  • Have a Dominican government-approved promoter/agent/sponsor

The application process normally takes 6 to 14 months before completion, and all applicants should be prepared to undergo a stringent personal review by the Dominican authorities.

 

Benefits of the Dominican Citizenship by Investment Program

CBI in the Caribbean is a highly competitive business, but the Dominican program isn’t found lacking. Here are just some of its benefits:

  • Economical – The Dominica CBI program offers the cheapest option for second citizenship in the Caribbean. A charitable donation of just $100,000 will secure a single applicant full Dominican citizenship and passport
  • Fast – Applicants can receive their Dominica citizenship in just six months
  • Visa-Free Access To 119 Countries – The Dominica passport has visa-free access to 119 countries, including the UK, Europe’s 26-nation Schengen Area, several Commonwealth countries, much of Latin America, plus South-East Asian nations such as Hong Kong, Singapore and South Korea
  • Passport For 10 Years, Citizenship for Life – Dominican citizenship is for life. The Dominican passport has a ten-year life span, but renewal is a straightforward process
  • Full CARICOM Membership –  Dominican citizens are automatically members of CARICOM, which is short for Caribbean Community, and is the Caribbean’s equivalent of the EU. Dominican passport holders are free to live, work and invest in any of the 20 CARICOM nations without time restriction. CARICOM countries include Antigua and Barbuda, Belize, Grenada, Haiti, St. Lucia, St. Vincent’s and the Grenadines, Jamaica, Barbados and the Cayman Islands

 

Pros and Cons of Living in Dominica

Pros

If you like your Caribbean island unspoiled, authentically Creole, and with an abundance of outdoor activities like kayaking, deep sea diving, hang-gliding, wind-surfing and mountaineering and of course, deep rainforest exploration, Dominica might just be the place for you.

Cons

The fact that Dominica is so underdeveloped could be detrimental to folk used to a certain level of civilization, and once they have grown tired of all of those outdoor activities, they might just begin to yearn for shopping malls, cinemas and fast food joints.

 

Passport Reviewer Ranking: B+

The Dominican CBI program is certainly great value at as little as $100,000, and as a member of CARICOM, Dominican citizens are free to live and work in a more commercially established Caribbean country if they find Dominica a touch basic.

With access to just 119 nations visa-free, the Dominica passport is not quite as powerful as those of neighbors St. Kitts and Nevis (132) or Antigua and Barbuda (134), but it is far cheaper, and is still an appealing second passport for those long-suffering high net-worth investors from Asia and the Middle East.