Dominica is time and again named as one of the world’s happiest places to live in. Boasting a high number of centurions (people who have lived to be older than 100 years), it offers a tranquil lifestyle within a safe, peaceful, and pristine environment and a culturally vibrant and friendly community. The Nature Island of the Caribbean is a tropical paradise and one of the most beautiful places in the world. It is a land of natural beauty, with hundreds of rivers and waterfalls, rugged mountains covered in green and dramatic cliffs overlooking the turquoise sea.
Established in 1993, the Dominica Economic Citizenship Program legitimately offers individuals and families citizenship and second passport. The contribution needed for citizenship in Dominica has now been put on hold indefinitely and will remain unchanged until at least 2021. As previously the Caribbean citizenship program’s investment criteria was scheduled to increase significantly. Although prices could increase once the COVID-19 pandemic is over so we encourage you to act fast.
Under the real estate investment option to qualify for Dominican Citizenship, an applicant needs to invest in a government-approved real estate property worth a minimum of USD $200,000 and maintain ownership for a minimum of three years. The applicant has two options to resale the property. Firstly if the applicant maintains the ownership of property for three years, they can sell it off to any individual. Secondly, if the applicant maintains the ownership of property for five years, they can re-sell the property under the citizenship by investment program, qualifying another family or individual for citizenship. Additional government application fees are payable when applying to the Dominica Economic Citizenship Program.
Another most popular option to get Dominican citizenship is by contributing to The Dominica Economic Diversification Fund (EDF). This contribution finances public and private sector projects in the country in an effort to increase national development and support the islands social progress and financial security. Public sector projects enhances betterment for financing funds for renovating the local hospital, building new schools, constructing a national sports stadium, and promoting the Island of Dominica offshore industry. Private sector finances the fund primarily for progressing nation’s information technology, tourism, and agricultural sectors.
Both the options available on how to obtain Citizenship are beneficial in their own way. Any individual can be muddled on which type of investment will be more beneficial to him. Let us list out advantages both options offer over the other to help you do a cost benefit analysis and determine its feasibility. Below are listed few pro and con for better understanding:
To begin the process, please contact Flyingcolour Relocation Services, today!
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