Latest Changes to the Citizenship by Investment Program of Dominica
The citizenship by investment (CBI) program of Dominica has been run since 1993 and is considered one of the most popular and cost-effective second passport programs in the world. Throughout the entire period of its operation, Dominica’s government has pursued efforts to make it more attractive and entice prospective investors. Recently it has been announced that Dominica accepted key changes to the program, regarding dependants’ eligibility and government fees. The amendments exclude siblings from the dependant category, impose age restrictions on older dependants, and restructure fees for applications submitted under both the real estate and donation options. Offering less in terms of participation eligibility, the program nonetheless remains the most affordable in the Caribbean.
Established in 1993, the citizenship by investment program of Dominica is one of the longest-running citizenship programs in the world and a widely celebrated route for obtaining a solid Caribbean passport along with many other benefits. The most cost-effective in the Caribbean, the program allows qualifying applicants and their family members to obtain irrevocable second citizenship through any of the two investment options: a non-refundable donation into the Economic Diversification Fund starting from $100,000 and purchase of a government-approved property valued no less than $200,000, plus additional fees.
With the emergence of the COVID-19 pandemic, Dominica reduced the donation minimums for applicants with spouses and families of four in a bid to attract more foreign investment. It is worth mentioning that the discount is valid. Dominica was also among the first CBI countries to introduce a dependant category of siblings, making it possible to include brothers and sisters of the main applicant or their spouse in the citizenship application.
However, Dominica has recently published amendments to its CBI program, which concern the eligibility of qualifying dependants and government fees for both investment options. The changes came into effect on 15 September 2022, reconsidering the definition of dependant and the criteria to meet as well as restructuring the fees.
While spouses and children under the age of 18 remain eligible dependants, adult children (18-30 years old) must be enrolled in a recognised institution of higher learning and supported “substantially” by the main applicant or their spouse. Unmarried daughters under 25 years of age are not required to attend such an institution, but they have to be living with and fully supported by the main applicant or the spouse to qualify as dependants. Parents or grandparents of the main applicant or the spouse are now only eligible if they are older than 65 years and substantially supported by the main applicant or their spouse. Siblings of the main applicant or the main applicant’s spouse are no longer allowed to apply as dependants.
With the exclusion of siblings from the dependant category, the fees related to sibling dependants under both the real estate and donation options have been removed. Taking into account the accepted amendments, the fees in the context of the real estate option are now the following:
- $25,000 for the main applicant
- $35,000 for the main applicant and up to three dependants
- $50,000 for the main applicant and up to five dependants
- $25,000 for any additional dependant
As for the donation option, the investment amounts are based on the number of people included in the application and age of each additional dependant (provided that the investor’s family consists of four or more members). The required amounts are listed below:
- $100,000 for the main applicant
- $150,000 for the main applicant and their spouse
- $175,000 for the main applicant and up to three dependants
- $25,000 for any additional dependant under 18
- $50,000 for any additional dependant at the age of 18 years or older
Despite these changes prohibiting or restricting participation of certain dependants, the CBI program of Dominica is still highly competitive. It offers low investment thresholds compared to similar programs and secures a reputable second passport in four to six months. Dominica citizenship ensures visa-free travel to over 140 countries worldwide, including the EU states, the UK, Singapore, China, and Hong Kong, favourable tax environment (no wealth, gift, inheritance, foreign income, or capital gains taxes), abundant business opportunities, and an array of other advantages. Moreover, Dominica recognises dual citizenship, so there is no need to renounce one’s original passport, and does not even require physical presence.
Are you interested in obtaining Dominica’s citizenship? Contact GLS Private Office, and we will be happy to respond to your request, find the best possible solution based on your expectations and needs, and provide assistance throughout your journey to a truly global lifestyle.