The government of Dominica is continuing the make further changes and reductions to enhance its citizenship by investment program competitiveness. This current set of changes are effective immediately and will last until March 31, 2018.
Dominica Citizenship by Investment Unit (CBIU) has announced the following changes in fees and age requirements for the CBI program. There is no changes in the EDF investment ($100,000) amount or real estate investment ($200,000).
The government of Dominica, like other Caribbean countries, is seeking to restore its economy as swiftly as possible after it has recently suffered a natural disaster: Hurricane Maria. The country’s prime minister Roosevelt Skerrit stated that officials are continuing to work hard in spite of the difficult situation. The country’s key communications networks have already been restored. Services and enterprises are working now as they did before.
However, the country is now in need of even greater funds to deal with the destructive consequences of the natural disaster. A significant source of funds for developing Dominica’s economy – and already a long tradition – is investment from foreigners who wish to receive citizenship. In order to attract as wide investment as possible to rebuild the country after the hurricane, Dominica authorities have decided to introduce measures to simplify receiving citizenship for investors.
The Dominica (CBIU)
, has announced the following updates with respect to the citizenship by investment program in Dominica .
In recognition of these efforts, and in light of the recent devastation in Dominica, the following changes have been made to the Citizenship by Investment Program to safeguard the continued economic welfare of the country and its citizens.
To be eligible for citizenship of the Commonwealth of Dominica under its Citizenship by Investment Program, the Government requires either:
A. A contribution made into the Government Fund amounting to USD 100,000 depending on the number of dependents included in the application;
B. An investment in designated Real Estate with a value of at least USD 200,000.
For applications submitted effective immediately until March 31, 2018:
1. Age of Child Dependants
The maximum age of qualifying child dependants is increased to thirty years, as follows:
The meaning of “dependant” in Regulation 2, paragraph (c) of the Principal Regulations is amended to “a child of the main applicant or his or her spouse between eighteen and thirty years who is in full time attendance at a recognised institution of higher learning after his or her eighteenth birthday and fully supported by the main applicant;”
Regulation 4, paragraph (13) of the Principal Regulations is amended to “An applicant who is applying as a dependant of a main applicant between the age of eighteen and thirty years, in Higher Learning, shall submit official transcripts from a recognized Institution of Higher Learning or a duly notarized letter from the competent authority confirming the applicant’s existing enrolment at that Institution of Higher Learning.”
The meaning of “dependant” in Regulation 2, paragraph (d) of the Principal Regulations is amended to “an unmarried daughter of the main applicant who is aged thirty years of age or under, and is living with and fully supported by the main applicant;”
Following the above amendments, a child aged thirty will be accepted under the Citizenship by Investment Program, while a child aged thirty-one will not be accepted as a qualifying dependant.
2. Age of Parent of Grandparent Dependants
Where a parent or grandparent is fifty-five, but his or her spouse is aged less than fifty-five, both the parent or grandparent and the spouse will qualify as dependants, as follows:
The meaning of “dependant” in Regulation 2, paragraph (f) of the Principal Regulations is amended to “any parent or grandparent of the main applicant or his or her spouse aged fifty-five or over, living with and fully supported by the main applicant, as well as the spouse of any such parent or grandparent, irrespective of that spouse’s age;”
3. Child Born After Approval in Principle
The Schedule of the Principal Regulations is amended in paragraph (1)(2)(d) to “on registration of a child who is not more than five years of age and who was born to the applicant after citizenship has been obtained, a processing fee of US$500.”
4. Due Diligence Fee for Spouses
The Schedule of the Principal Regulations is amended in paragraph (1)(2)(c)(ii) to “US$4,000 for processing fees and due diligence checks on each applicant who is over the age of sixteen, including the main applicant’s spouse,”
5. Processing Fee
The US$3,000 processing fee is reduced to US$1000 for the submission of applications under the Citizenship by Investment Program.
6. Certificate of Naturalization Fee
The Certificate of Naturalization Fee is reduced from US$750 per certificate to US$250 per certificate.
7. Adding a Dependant Prior to Approval in Principle
The main applicant may request for a qualifying dependant to be included in an application that has already been submitted to the Citizenship by Investment Unit, but that has yet to be approved in principle. The request shall be granted by the Citizenship by Investment Unit so long as all relevant fees are properly paid, and so long as, where necessary, forms and investment thresholds are amended to include the new dependant. The Citizenship by Investment Unit reserves the right to deny an application on the basis that the added dependant does not pass its due diligence checks.
8. Removing a Dependant After Approval in Principle but Prior to Payment of the Investment
The main applicant may request for a dependant who was approved in principle as part of his or her application for citizenship by investment to be removed from that application, so long as the request is submitted in writing to the Citizenship by Investment Unit prior to the full payment of the investment. The Citizenship by Investment Unit shall review the request and, upon its discretion, determine whether to remove the dependant from the application. The main applicant will receive no reimbursement of fees, including any due diligence or processing fee, as a result of the removal of a dependant from his or her application.
CBI Application and Processing Fees
In addition to the capital investment required for the selected investment option, additional fees are payable by each family member.
These comprise of the following:
Per application – USD 1,000
DUE DILIGENCE FEES (required for both the Real Estate and the Government Fund options)
a) Main Applicant – USD 7,500*
b) Spouse – USD 4,000
c) Dependant aged 16 years and above – USD 4,000
*In some cases, an enhanced due diligence may be required depending on the citizenship the applicant holds.
(required for both the Real Estate and the Government Fund options)
a) Fee for Certificate of Naturalization – USD 250 per person
b) Expedited passport issue fee – USD 1,200 per person
GOVERNMENT FEES FOR THE REAL ESTATE OPTION ONLY
a) The minimum required investment for the Real Estate Option is USD 200,000
b) The following government fees are applicable for the main applicant and any accompanying dependants:
i. USD 25,000 for the Main Applicant;
ii. USD 35,000 for the Main Applicant applying with his or her spouse;
iii. USD 35,000 for a family of up to four persons, including the Main Applicant and up to three dependants
iv. USD 50,000 for a family of up to six persons, including the Main Applicant and up to five dependants; or
v. USD 70,000 for a family of seven persons or more, including the Main Applicant and six or more dependants
Those wishing to receive economic citizenship of Dominica should hurry up in making their decision, because it has now become significantly cheaper due to changes in that immigration program.
For more information, please see the Dominica Citizenship by Investment Unit’s official website
For more information on the Commonwealth of Dominica’s Citizenship by Investment Program, please click here
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