Dominica’s Citizenship by Investment (CBI)
Dominica’s Citizenship by Investment (CBI) is a program implemented by the Government of Dominica that allows foreign nationals to obtain citizenship through significant economic contributions to the country. This program is designed to boost economic growth and development while offering investors the benefits of Dominican citizenship.
About Dominica’s Citizenship by Investment (CBI)
Citizenship by Investment (CBI) in Dominica provides a pathway for individuals to gain citizenship through direct financial investments. Strict regulations govern the program to ensure transparency and integrity, attracting high-net-worth individuals who contribute to the nation’s development.
The CBI program offers two main investment options: a non-refundable contribution to Dominica’s Economic Diversification Fund (EDF) or an investment in designated real estate projects. The EDF supports public and private sector projects in areas such as education, healthcare, and infrastructure. Real estate investments must be made in government-approved projects, often involving luxury hotels, resorts, or other infrastructure developments.
Applicants must meet specific criteria, including a clean criminal record, a substantial financial investment, and thorough background checks. The investment thresholds vary depending on the chosen option.
Costs and Investment Options
- Economic Diversification Fund (EDF):
- Single applicant: $100,000
- Main applicant and spouse: $150,000
- Family of four (main applicant, spouse, and two dependents): $175,000
- Additional dependents: $25,000 each
- Real Estate Investment:
- Minimum investment: $200,000
- Government fees (in addition to the real estate investment):
- Single applicant: $25,000
- Main applicant and spouse: $35,000
- Family of four (main applicant, spouse, and two dependents): $35,000
- Additional dependents: $20,000 each
Benefits of the CBI Program
Obtaining citizenship through the CBI program provides several benefits. Dominica offers visa-free or visa-on-arrival access to over 140 countries, including key business hubs in Europe and Asia. Citizens also enjoy the ability to live and work in Dominica, as well as access to a favorable tax regime with no wealth, gift, inheritance, foreign income, or capital gains tax.
Process and Application
The application process for the CBI program is streamlined and efficient, typically taking between three to six months. Applicants must submit required documents, undergo due diligence checks, and make the necessary investment. Approved applicants receive full citizenship for themselves and their eligible family members, including spouses, children, and dependent parents.
Economic Impact
The CBI program has significantly contributed to Dominica’s economic growth. Funds from the program have financed vital infrastructure projects, such as the construction of hospitals, schools, and roads, as well as improvements in the tourism sector. The Portsmouth Beach Hotel and Avie’s Ville are examples of real estate developments benefiting from CBI investments, enhancing Dominica’s appeal as a luxury destination.
Regulatory Framework
The CBI program operates under the purview of the Dominica Citizenship by Investment Unit (CBIU), which ensures that all applications are rigorously vetted and that the program adheres to international best practices. The CBIU collaborates with global due diligence firms to maintain the program’s integrity and reputation.
Dominica’s CBI program fosters economic development and provides valuable benefits to investors. This program exemplifies how strategic economic initiatives can drive national progress while offering global citizens new opportunities.