Dominica is famous for tropical forests, home to 365 rivers, waterfalls and boiling springs and mountains. Dominica has a long running citizenship by investment program granting passport against investment in real estate or just $100,000 to Government fund. Dominica recently won award for the “Best Caribbean Citizenship program 2016, as it is the cheapest real estate investment program in the entire caribbean. Unlike donation option, you wont waste money if you buy a real estate and sell it off in the future.
- USD 200,000 minimum property investment (house, apartments, holiday resorts or hotel limited share)
- Fast track Dominica passport & citizenship in 4-6 months.
- No requirement to visit/live in Dominica
- Travel visa free to United Kingdom and Schengen countries (upto 110 countries) using Dominica passport.
- Dual citizen status.
- No taxes on personal income, wealth, inheritance
If you buy a property in Dominica for atleast 200,000 dollars, you automatically qualify for citizenship and passport in Dominica. Foreigners can freely buy land or estate in dominica but keep in mind, that only projects approved by Government, will qualify for citizenship in Dominica. On top of property value, if you decide to apply for citizenship, additional fees also apply (you will see below). The real estate property can be sold off in the market after 3 years and citizenship wont be revoked.
Dominica has a stable real estate market which is expect to grow by 2.8% by the end of this year. Property costs start from $200,000 to $500,000. The minimum real estate investment $200,000 qualifies for Dominica passport and citizenship. Foreigners can freely acquire upto 1 acre of land for residential and 3 acres for commercial purposes. Rental yields are around 4-5% but can go up as high as 7% in capital Roseau around Castle Comfort and Wall House areas during peak season. Calibishie and Woodford Hill are very popular places to buy a real estate in Dominica among foreigners.
Please note only government approved real estate projects listed below qualify for citizenship of dominica. It is possible to buy a share in real estate project (hotel, resort) starting from 200,000 dollars
1. Cabrits Resort Kempinski
Luxury hotel by Range developments, with 160 rooms and hideaway resort with breadth taking views and white sand beaches at Douglas bay in Dominica. Investors can buy a share worth $220,000 and qualify for citizenship. This project is estimated to be completed by 2018. For example the total costs for a family of four (husband, wife, 2 children) will come approx $372,800 inclusive of all expenses.
$220,000 (limited share partnership)
Cabrits Resort Kempinski – Source: http://www.rangedominica.com/
2. Tranquility Beach
Tranquillity Beach Dominica by Curio – a collection of Hilton International, and will be a 73-room hotel with various amenities, including a spa, a gym, a restaurant, conference facilities, and more.
Prices start from $200,000
Tranqulity beach in Dominica – Source: ranquilitybeachdominica.com
3. Jungle Bay Eco Villas
Jungle bay is leading luxury and eco hotel in Dominica offering new vacation villas to investors under the Dominica Citizenship program (CIP). Jungle Bay villas are sold as individually deeded real estate. Each villa comes with a recorded title that includes 1,000 square feet of land on which the 345 sq ft unit is situated.
Starts from $242,000
Jungle bay eco friendly villas – Source: junglebayvillas.com
4. Secret Bay Villas
Five star vacation resort and honeymoon villas located on the northwest coast of Dominica about 10 minute drive from the city of Portsmouth. The eco luxury villas offer glorious views over the Caribbean Sea and rainforest-covered mountains.
$200,000 onwards
Secret bay villas, Dominica, West Indies , Source: secretbay.dm
5. Silver Beach Resort
The 200-room, luxury, five-star luxury eco-wellness resort, strategically located on one of the best beaches on the Nature Isle of Dominica. You can purchase shares and full titled houses.
Prices for Shares – $220,00, Units: $280,000
Silver beach resort – Source: silverbeachcaribbean.com
6. Bois Cotlette
From the early years of French settlement in the 1720’s, Bois Cotlette, located in the the heart of southern dominica, is one of the oldest surviving estates on Dominica, best preserved example of plantation architecture on the island of over 53 acres, with its French colonial “Maison de Maitre” and buildings for the processing of coffee, sugar, and cocoa.
Prices start from $200,000
Most real estate developers will ask for initial deposit of 10% of the real estate value. You have to pay the necessary fees to launch citizenship application with the government.
Additional Government fees
The following additional costs must be incurred if you decide to apply for citizenship.
The Following Government Fees Are Applicable Under Real Estate For The Main Applicant And Any Accompanying Dependents:
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Other expenses, cost of registering the title deed (7.5% of the sales price), agents fee (varies), due diligence fee of US$7,500 per adult and the application processing fee of US$3,000 (per application).
How to apply?
- Step 1. Sign initial reservation form with real estate developer and pay initial deposit 10% of the real estate price.
- Step 2: Initial application and required documents for citizenship through appointed agent. You also have to pay due diligence fees ($7500), and agent fee. Investor will execute sale of purchase agreement and the agent will start citizenship process with Dominica citizenship unit.
- Step 3: After 3-4 months, approval letter is given by Government and within 7 days you are required to pay the balance amount for real estate and government fees ($50,000).
- Step 4: The proof of ownership is handed over to Government and within 3-4 weeks you will be issued “citizenship certificate”.
- Step 5: Using “certificate of citizenship” apply for Dominica passport which takes about 1 week.
Source: Corpocrat.com
