- August 31, 2017
- Posted by: CIP Journal
- Category: Real estate
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 Dominican Citizenship Program requires CBI purchasers to retain their investment for a minimum of three years.
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: when you buy a property in Dominica you will also have a permanent residential address in Dominica.
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 Hotel
Cabrits Kempinski is a resort and luxury hotel by Range developments, with 160 rooms and hideaway resort with breath taking views and white sand beaches at Douglas bay in Dominica. The resort is surrounded by Cabrits National Park, an area known for its natural beauty. Dominica is renowned for its eco-tourism initiative, being home to 365 rivers, waterfalls and boiling springs. Kempinski Hotels is Europe’s oldest luxury hotel group based in Geneva, operating more than 75 5-star hotels in 31 countries.
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)
2. 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. Guests at Jungle Bay Dominica enjoyed a unique Caribbean vacation experience that included yoga classes, hikes to hidden waterfalls and natural attractions, sea kayaking, scuba diving, spa treatments and healthy organic cuisine; all in a barefoot luxury setting.
Villas will be rented to hotel guests on behalf of the owners and all rental proceeds from it will be held in a dedicated villa rental account which will be available for owners to review. Villa owners will receive 50% of the after-expense rental income and Jungle Bay will retain the other 50% as compensation for its management and marketing services. Owners will also be entitled to utilize their villa for one week every year.
Jungle bay villas opening for guests in 2018
Luxury sea view villas starting at $255,000 (includes closing costs, transfer taxes, deed registration & legal fees)
4. Silver Beach Resort
Silver beach is a five-star luxury eco-wellness resort, strategically located on one of the best beaches on the Nature Isle of Dominica. The 200-room, luxury, five-star resort, is expected to set the standard for eco-chic resort living. It is located on 12 acres of gently sloping, beach front land, offering panoramic vistas of the town of Portsmouth, and even Guadeloupe in the distance. Silver Beach Resort & Spa sits on Picard Beach – one of Dominica’s best beaches, just five minutes from world renowned US medical school – Ross University School of Medicine.
Arkiplan Consulting is the architect of the Silver beach Resort and Spa.
Owners of the the property can
- Recover invested interests after three years
- Receive annual returns on the investment
- Reside in the property for a specified amount of time per year
You can purchase shares and full titled houses.
Prices for Shares – $220,00, Units: $280,000
5. 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.
Bois Cotlette is one of the oldest surviving estates on Dominica is the best preserved example of plantation architecture on the island, combining buildings for the processing of coffee, sugar, and cocoa with historic ruins. The Bois Cotlette Estate is 53 acres of self sufficiency with own food, own water, own green energy.
Bois Cotlette Estate is located in the outskirts of a small fishing village named Soufriere, 7 miles south of the capital city Roseau. The village was named by French settlers in the 1700’s because of the therapeutic sulfur waters that are still present today. The Estate is nestled in a valley 1000 feet above sea level in the spectacular Morne Plat Pays volcanic complex.
There are two types of villas available for investment and prices start from USD 200,000 onwards for a share.
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.
7. Secret Bay Villas
Secret Bay is an award-winning boutique resort with just eight sustainable luxury villas and bungalows immersed in nature and designed to capture the luxury of time and space. Secret Bay named The World’s Best Boutique Hotel 2016
Secret bay is 5-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 with a perfect getaway for a Caribbean honeymoon, private beach wedding, family adventure, or otherwise secluded holiday of a lifetime. .
This project under provisional CBI approval.
$200,000 onwards (limited share)
Dominica CBI 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:
How to book?
- 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.