The Caribbean Commonwealth island of Dominica has made amendments to its Citizenship by Investment Program making the process of adding dependents easier and more affordable for applicants.
The age of a qualifying dependent child who attends school full-time has increased from 25 years old to 28 years old. Nowadays, many children pursue studies until a later age, especially those from affluent families. An unmarried daughter up to 28 years old, who is completely financially dependent on her parent(s), may also be included in the application. The age change will allow an increasing number of families with older dependent children to apply for immigration together.
The qualifying age of a dependent parent and grandparent has also decreased from 65 years old to 55 years old. The Citizenship by Investment Program of St. Kitts and Nevis also recently implemented similar changes allowing more families to stay together. These Caribbean nations understand that families that immigrate as a whole are better able to integrate into their new communities, and strong families are the backbone of local economies.
In addition, government processing fees for Dominica’s Citizenship by Investment Program have also decreased. The fees for registering a newborn child after the main applicant has obtained citizenship has decreased from USD $10,000 to only USD $2,000. For applicants who choose investments under the real estate options, dependents above the age of 18 can be added for USD $25,000 each, which has been lowered from the previous USD $50,000.
A more favorable fee rate for families of up to four and up to six under the real estate option has also been introduced. The application fee for a family of four is USD $75,000 and a family of six is USD $100,000. In other words, the cost for a family of four would be the minimum USD $200,000 in real estate, plus a USD $75,000 processing fee for a total of USD $275,000. This new family rate makes Dominica’s program the cheapest for families choosing the real estate investment option for their second citizenship applications.
The small Caribbean island of Dominica is implementing changes to remain competitive in the global investment immigration scene. Similar to other Citizenship by Investment Programs in the Caribbean and Europe, the investments gained through Dominica’s program help generate sustained economic growth for the country.
Citizens of Dominica are granted visa-free or visa-on-arrival access to over 100 countries around the world, including the Schengen zone. Interested investors are not required to have any language proficiency or business experience to apply, and there is no mandatory interview prior to passport issuance (although an interview may be requested at the discretion of the officer). Dominica has one of the lowest crime rates in the Caribbean and enjoys both economic and political stability.
Dominica offers one of the world’s cheapest second citizenship programs with investments starting at only USD $100,000 for single applicants. The minimum investment requirement was scheduled to increase to USD $175,000 in 2016 but has since been put on hold until 2017. Those interested in applying need not delay getting started as the investment can increase at any time without warning.
The new amendments to Dominica’s Citizenship by Investment Program have made the affordable and popular program even more appealing to the global investor, and second citizenships have never been so readily attainable for multigenerational families.
For more information on Dominica’s Citizenship by Investment Program, please click here.
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