Mar 4, 2020

The reasons to acquire a Dominican passport in 2020

How can you acquire citizenship by investment in Dominica and why should you do it? The Dominican passport costs US$ 100,000 and you will have to wait for about three month until you become a full citizen of the country. Successful applicants for Dominican citizenship obtain a number of outstanding advantages that include the ever-growing list of visa-free destinations, the improving economy, the possibility to acquire citizenship in exchange for investment into real estate that you can let on a lease, and many others. Please keep on reading in order to learn more about the fantastic opportunities that Dominican citizenship offers.   

The citizenship-by-investment program has proved a lifesaver for Dominica. The money generated by this program allowed this small Caribbean state to overcome the drastic consequences of Maria hurricane. The hurricane hit the island in 2017 causing damage to a great part of the national infrastructure.  

The Government of Dominica has been implementing the citizenship-by-investment program since 1993. The program allows trustworthy foreign nationals and their close relatives to become citizens of the country in exchange for a non-recoverable donation to the Economy Diversification Fund or for an investment into real estate. The foreign applicant can purchase a piece of real property in one of the government-approved development projects to acquire citizenship of Dominica. At the current moment, there are seven such projects to choose from.

Investors into Dominican economy receive visa-free access to Schengen zone countries as well as many other national states in the world. Dominica is a low-tax jurisdiction, which is a serious incentive for business-minded people. Dominica can also become your safe haven in case the political and/ or economic situation in your home country changes for the worth.

The money that foreign investors bring to Dominica is used to promote socio-economic development in the country, to improve healthcare, create new jobs, develop the infrastructure, and so on. Thus, becoming a citizen of Dominica you do not only obtain valuable benefits for yourself but you also help the people of the small paradise island improve their lifestyle.

Reasons to acquire citizenship by investment in Dominica in 2020: hundreds of people become citizens of the country every month

According to the report published by the Government of the Commonwealth of Dominica, 3,961 applications for citizenship were approved between August and December of 2018.

The most inexpensive way to acquire citizenship of Dominica is to make a non-refundable donation of US$ 100,000. Thus, the citizenship-by-investment program brought at least US$ 396,100,000 to the country economy over a five-month period. This is a large sum of money for a country whose native population is less than 75,000 people.  

The number of foreign investors applying for Dominican citizenship fluctuates from one month to another but a rough estimation will yield the figure of approximately 800 applicants per month. The demand for the Dominican passport is growing, as the price is very attractive. No other country in the world offers citizenship for a lesser sum than Dominica does. So, if you are thinking of acquiring a second passport of Dominica, you had better think fast!

Reasons to acquire citizenship by investment in Dominica in 2020: the number of visa-free arrangements is constantly growing

Citizens of Dominica are entitled to travel to nearly 130 countries of the world without a visa. Only recently two more countries joined the visa-free destinations list. In particular, since January 1, 2020 Dominicans can travel to Ukraine and Uzbekistan without a visa and stay there for up to ninety (Ukraine) or thirty (Uzbekistan) days in every six months. It is reasonable to expect that the number of visa-free travel opportunities for Dominicans is going to keep on growing.  

Reasons to acquire citizenship by investment in Dominica in 2020: the Dominican passport in exchange for a returnable investment into real estate in the country

You can obtain a Dominican passport if you invest into one of the resort complexes approved by the Government for the citizenship-by-investment program. The popularity of acquiring citizenship of Dominica via this method is growing rapidly. This is not surprising at all, as you do not have to give any money away in order to become a full citizen of the country. When you purchase a hotel suite, for example, you can start renting it out straight away. Besides, you are free to resell your property after only three years of ownership while still preserving your citizenship of Dominica. Thus, you can obtain a second passport and a profit simultaneously!

There is an ambitious transformation project currently going on in the Dominican tourist sector. The country aims to cater to eco-tourists from different parts of the world. You can already find a number of luxurious eco-resorts on the island and new ones are being built at the moment. Wealthy foreign investors finance these construction projects obtaining citizenship of Dominica in return.

PricewaterhouseCoopers (PwC) consulting firm reports that this sector of economy will bring between US$ 32.4 million and US$ 52.6 million to the national budget a year when all the construction projects are completed. The room occupancy rate is expected to reach 61% on average.

Dominica is upgrading from a three-star destination to a five-star one looking to service ecological tourists in the first place. PwC recons that the average price of a room in an eco-hotel in the country is going to be about US$ 150 per night. This price is not too high for a tourist looking for a luxury hotel and it is not too low for the room owner either.

It is worth noting that the Government of Dominica does not prioritize increasing the number of tourists arriving to the country. Rather, it wants to turn the island into a specialized tourist destination that will attract those who love nature and those who look for tranquility and peace.

In order to achieve this goal the Government needs to attract more funds to build new eco-hotels and improve the existing ones. The citizenship-by-investment program serves this purpose very well as hundreds of luxury suites and villas are built on the island.

Reasons to acquire citizenship by investment in Dominica in 2020: invest into Jungle Bay Eco Villas

Jungle Bay Eco Villas is one of the eco-resorts in Dominica. It had been in operation for ten years before it was completely destroyed by Maria hurricane in 2017. The island authorities decided to rebuild the resort but they moved it a bit so that now the villas offer the view of a marine reserve. If you buy shares of the company that owns Jungle Bay Eco Villas, you will be qualified for Dominican citizenship.  

The famous Jungle Bay Eco Villas were reopened in the summer of last year, two years after the devastating hurricane occurred. The new resort complex contains sixty villas while previously there were only thirty-five of them. The resort infrastructure has also been greatly improved and now it comes up to the highest international standards. Jungle Bay Eco Villas is a perfect place both for the tourists and for the investors.

The renewed villas are oriented to eco-tourists first of all. They have been built in accordance with the requirements of these particular target customers. The new ‘zest’ that the villas have is the proximity to hot springs as well as one of the best diving locations in the region. The tourists will also be attracted by the yoga court that faces the Caribbean Sea. Thus, in addition to a calm vacation, the visitors have a chance to improve their health and raise their spirits.  

Reasons to acquire citizenship by investment in Dominica in 2020: invest into Cabrits Resort & Spa Kempinski Dominica

A few months ago, a new luxury resort opened in Dominica that became an important addition to the rapidly growing Kempinski brand portfolio. We are talking about Cabrits Resorts & Spa Kempinski Dominica that offers its guests a wonderful opportunity to have a peaceful vacation on a Caribbean beach.  

The resort has 151 splendidly decorated rooms and it is part of a five-star hotel chain in the Caribbean. The luxurious Cabrits Resorts & Spa Kempinski Dominica is located in Douglas Bay. Cabrits National Park is found nearby, hence the name of the resort.

The largest attraction of the hotel is the presidential villa 426 square meters (4,585 sq. ft.) in size. This villa has a lot to offer to its guests indeed. A breathtaking view of the sea, a butler, a spacious lobby, two bedrooms, two bathrooms, a dining room, a large terrace where you can have meals, a private swimming pool and a spa-salon with a sauna – everything is there for a fantastic holiday.

Cabrits Resort & Spa Kempinski Dominica has three different restaurants. The guests can enjoy international cuisines and various barbequed dishes. It is interesting to note that the menus in the restaurants change daily as they depend on the availability of the ingredients that are produced locally.

The rooms in the hotel are decorated in the Creole style and many parts of the interiors are made of wood. Deluxe suites give the view of the sea or of the tropical forest.

The modern hotel infrastructure includes several conference halls that can be used for various purposes. Besides, there is a large recreation complex 1,700 meters (18,300 sq. ft.) in size with four swimming pools and a spa-center. Once again, the main elements of the complex design are made of wood.

Reasons to acquire citizenship by investment in Dominica in 2020: invest into Secret Bay resort

One more development project that you can finance thus acquiring citizenship of Dominica in 2020 is a villa cluster called The Residences at Secret Bay. These villas are part of a very popular Secret Bay resort that is already in operation.

The villa cluster is really an exclusive offer to those who wish to become citizens of Dominica in exchange for investment into real estate. It consists of forty-two villas that are architectural masterpieces. Besides, the villas are located on a high cliff giving marvelous views of the sky-blue Caribbean Sea. Investing into this development project, you can purchase a luxurious house and enjoy five-star service while recreating there.

The villas are from 126 to 481 square meters (1,350 to 5,175 sq. ft.) in size. The land lots where they sit on are between 330 and 3,000 square feet. You can buy a share of The Residences at Secret Bay for US$ 218,000. The price of a whole villa starts at US$ 1,220,800. Whichever option you choose, you will qualify for citizenship of Dominica.  

Secret Bay has recently been recognized as one of the best boutique-hotels in the world for the combination of top-class design and the distinctive local flavor.  

We also have to inform you that only a short while ago the resort received a Green Globe conformity certificate as it meets the international eco-standards. It took the hotel administration six months of continuous effort to make the hotel meet 380 different criteria. The requirements included recycling of the packaging materials, reducing the hotel carbon footprint through the use of energy saving devices and renewable energy sources.  

Reasons to acquire citizenship by investment in Dominica in 2020: the growth of the tourist sector

The efforts that the Dominican Government takes to stimulate the development of the tourist industry in the country show that tourism is an important sector of the economy in the Government’s view. It does help revive the country after Maria hurricane that we have mentioned above. According to the official statistics, the tourist sector is on the rise in Dominica.

  1 qtr. 2017 2 qtr. 2017 3 qtr. 2017 4 qtr. 2017 1 qtr. 2018 2 qtr. 2018 3 qtr. 2018 4 qtr. 2018 1 qtr. 2019 2 qtr. 2019
Total number of visitors including: 17,0522 37,682 21,894 12,867 31,466 18,352 34,734 122,642 163,846 41,347
Change on a year-to-year basis, %         -81.5 -51.3 58.6 853.2 420.7 125.3
— Tourists staying in hotels, including: 21,434 19,917 20,398 11,373 12,467 13,868 14,737 22,733 23,705 20,667
Change on a year-to-year basis, %         -41.8 -30.4 -27.8 99.9 90.1 49
— From the USA 4,740 4,071 2,941 2,388 2,125 2,582 2,053 3,689 3,582 2,396
Change on a year-to-year basis, %         -55.2 -36.6 -30.2 54.5 68.6 -7.2
— From Canada 1,046 614 436 455 470 398 346 596 751 341
Change on a year-to-year basis, %         -55.1 -35.2 -20.6 31 59.8 -14.3
— From Great Britain 1,709 1,055 1,286 789 810 824 810 1,265 1,500 1,102
Change on a year-to-year basis, %         -52.6 -21.9 -37 60.3 85.2 33.7
— From other Caribbean countries 7,568 9,160 11,404 6,109 6,901 7,687 9,061 13,234 12,620 13,355
Change on a year-to-year basis, %         -8.8 -16.1 -20.5 116.6 82.9 73.7
— From other world countries 6,371 5,017 4,331 1,632 2,161 2,377 2,467 3,949 5,252 3,473
Change on a year-to-year basis, %         -66.1 -52.6 -43 142 143 46.1
— Excursion participants 214 119 199 366 157 191 175 616 975 199
Change on a year-to-year basis, %         -26.6 60.5 -12.1 68.3 521 4.2
— Cruise ship passengers 142,152 14,807 0 81 15,508 2,551 19,012 97,398 134,751 20,481
Change on a year-to-year basis, %         -89.1 -82.8 1901100 120144.4 768.9 702.9
— Yacht passengers 6,722 2,839 1,297 1,047 3,334 1,742 810 1,895 4,415 0
Change on a year-to-year basis, %         -50.4 -38.6 -37.5 81 32.4 -100
Number of cruise ship calls 96 10 0 1 24 3 8 58 103 14
Change on a year-to-year basis, %         -75 -70 800 5700 329.2 366.7
Number of yacht calls 1,611 797 368 245 807 447 190 353 1,060 0
Change on a year-to-year basis, %         -49.9 -43.9 -48.4 44.1 31.4 -100
Total visitor spendings (US$ mln.) 62,25 48,14 45,39 19,96 24.73 27.9 31.11 53.36 60.5 42.79
Change on a year-to-year basis, %         -60.3 -42 -31.5 167.3 144.6 53.4

The figures in the table show that the current situation is as good as it was in 2016 and early 2017 before the disastrous hurricane hit the island.

The restoration of the existing infrastructure as well as the development of new instruments of attracting foreign guests to the island should contribute to further growth of tourism in Dominica. One novelty that has recently been introduced is the construction of the so-called ‘cruise village’. The visitors of the village can take ferry rides and enjoy duty-free shopping. The cruise village does not only attract tourists to the country but it also gives jobs to local people.  

In addition to that, the country authorities invest into tourist personnel education. Thanks to the financial support from the local Ministry of Tourism, 277 people underwent training in Portsmouth last year. Currently, around a hundred more people are trained to be taxi drivers, five-star hotel receptionists, and other suchlike professionals.

Reasons to acquire citizenship by investment in Dominica in 2020: improvements in the transportation system

Most guests of the island as well as its local residents use the airport to leave Dominica and come there. In order to guarantee their safety the Government of the country has resolved to invest into the protection of Melville Hall airport from floods. The project involves building a dam on the river adjacent to the international airport of Dominica.  

During the storm that Erica hurricane brought about in 2015, the airport was filled with water. As a consequence, all international flights were cancelled. Thus, the hurricane immobilized the only international airport in Dominica, which made it difficult to provide assistance to those who had suffered from the storm. To avoid such a disaster happening in the future the Government initiated the construction of the dam. This dam will redirect excessive flows of water from the river to the Atlantic Ocean should the flood happen again. The overall cost of the construction project is 6.3 million east Caribbean dollars.

Besides, the authorities are also putting over 70 million east Caribbean dollars into the reconstruction of the roads in Kalinago district. The project was started at the beginning of 2020. The Government of Dominica realizes the importance of good roads for the economic prosperity of the country. A credit from the World Bank finances this roadbuilding project.  

Reasons to acquire citizenship by investment in Dominica in 2020: membership of ICAO

Dominica has joined the Chicago Convention of Civil aviation and after that, it has become the 193rd member of the International Civil Aviation Organization (ICAO).  This fact should greatly contribute to further development of the country transportation system. Now the Caribbean country has undertaken to conform to all ICAO safety requirements and recommendations.

Reasons to acquire citizenship by investment in Dominica in 2020: deletion from the EU ‘black list’

Dominican diplomats have also been victorious in fighting for the deletion of their country from the EU list of ‘uncooperative jurisdictions’. The country has adapted its tax legislation so that it conforms to the EU requirements now. Dominica is not referred to as a tax shelter nor a tax haven any longer.

It is especially good news in the light of the fact that a group of European countries has proposed strengthening the sanctions against the remaining tax havens. They claim that such jurisdictions still help dishonest businesspeople to evade taxes. Denmark was the country to initiate this process and Germany, France, Spain, and Austria expressed their support of this position.

Reasons to acquire citizenship by investment in Dominica in 2020: IMF experts confirm that the country economy is recovering

International Monetary Fund (IMF) experts inspected the state of affairs in Dominica on a recent visit to the country. They were satisfied with the results of the Government’s efforts in restoring the Dominican economy after the hurricanes.  

They published a report that shows positive trends in the economic development of Dominica. The industrial growth constituted ten percent in 2019, which almost compensates for the ten-percent decrease that occurred after Maria hurricane hit the island.

The construction sector was declared the most productive sector of the economy thanks to large investments into infrastructure and public utilities. The current goal of the country is to make these more resistant to natural disasters.  The experts also noted that tourism and agriculture were key industries capable of intensifying export activities and creating more jobs in Dominica. Both of these sectors are growing with the support of various Government programs that finance their development. However, the optimum level has yet to be reached so far.

It is expected that the growth of production will reach the pre-hurricane level at some point in 2020. The growth is most likely to increase in the following years due to the active construction of new hotels in Dominica that is supported by foreign investors including those who buy Dominican passports.

Analysts believe that the budget deficit will drop from more than forty percent of the GDP in 2020 to only ten percent in 2024. This will occur due to the revival of the Dominican export.

Reasons to acquire citizenship by investment in Dominica in 2020: higher Internet speed

The development of the telecommunications sector should also contribute to the growth the Dominican economy. To promote this industry the Government has signed a fifteen-year contract with Digicel, a large regional telecommunications company. The company undertakes to restore the communications infrastructure and provide the communication services to the residents of Dominica.

Representatives of Digicel Dominica, the local branch of the company, have promised to make the life of each Dominican better. In addition to that, they have confirmed the intention of the company to turn Dominica into most digitalized economy in the Caribbean basin.  

Currently, Digicel provides a wide range of services both to the Dominican Government and to private individuals. The services include free Wi-Fi in public places all around the country, free access to the Internet for students, and security video surveillance.

Digicel also launched a 4G LTE service on the island after it had modernized the equipment and recovered from the terrible hurricane of 2017. In the future, a Connected Health system will be implemented in Dominica. This system will give local medical institutions access to the databases and resources that other suchlike institutions in other parts of the world possess.

Reasons to acquire citizenship by investment in Dominica in 2020: development of alternative energy sources

A new geothermal electro station should become one more pillar of the local economy in the near future. Its construction will be partly financed by the citizenship-by-investment program. This is a crucially important project as currently imported diesel fuel is the main source of energy on the island. With the geothermal station, Dominica counts on cutting the import of diesel by 94%.  

Representatives of the Ministry of Trade, Energy, and Employment have confirmed that all the financial resources required for the construction of the station in Roseau valley are already available.

In cooperation with the Dominican Ministry of Trade, Energy, and Employment, Dominica Geothermal Development Limited has tested a geothermal well in this region. The conceptual plan has already been developed and approved and the pipes and electric lines locations determined.

Local mass media report that the Government of Dominica has spent over 50 million east Caribbean dollars on the exploration of the geothermal potential of the island. The current administration started to show interest in this potential exploration back in 2011. That year, a contract was signed for prospect boring in Roseau valley. The boring yielded positive results and it was officially completed in 2015 when the project went on to the next stage.

It became known in 2019 that negotiations with a French investment consortium were underway about a joint enterprise that would manage this construction project. In addition to that, the possibility to export the geothermal energy to French overseas territories in the Caribbean, namely, Guadeloupe and Martinique was discussed.

Nevertheless, the Government of Dominica later decided to create a totally new independent company for carrying out this ambitious project. This company will belong exclusively to the Government and the people of Dominica.

The island state in the Caribbean basin is planning to build a 7-MW power station. When the station becomes fully operable, it will supply energy to 23,000 households on the island. It will increase the share of the renewable energy produced in Dominica to 51 percent.

Apply for citizenship-by-investment in Dominica

Dominican citizenship by investment program is one of the best offers in the second passport market that are available today. We have assisted a great number of people in acquiring citizenship of Dominica so applying for our services would be a wise decision. If you have not made up your mind so far, however, and you need some first-hand information about this opportunity, please send your queries to [email protected]. Our experts will gladly answer all your questions and help you make the best choice!

Can a foreign citizen own real property in Dominica?

Yes, the Government of the country welcomes foreign investors who buy property on the islands. However, if you are a foreign property owner, you have to pay an additional 10% Alien Landholding tax when buying a house or an apartment there. It would be wiser to apply for Dominican citizenship via investment into real estate.

Is Dominica a wealthy country?

The Commonwealth of Dominica is not a particularly rich country but it is among the top ten richest countries in the Caribbean region anyway.

What are the disadvantages of a dual citizenship?

When you have dual citizenship, you potentially run the risk of double taxation (it depends on the individual countries though). Besides, you are legally bound by the laws of two national states.