Many speculations had been circulating regarding the pricing thresholds of the Dominica Citizenship by Investment Program. There were doubts that the investment amount required for this program would go up. However, according to the announcement made by the prime minister of Dominica, Roosevelt Skerrit, during his Budget presentation, the cost of citizenship under the Dominica Investment Program will remain unchanged.
This announcement confirms that Dominica citizenship will continue to start from $100,000, and will therefore remain the least expensive of all the Caribbean citizenship programs.
During the presentation, Mr Skerrit mentioned that the economic citizenship program went beyond all expectations by managing to accumulate more than US$200,000 funds. These funds have been a major contribution in financing the recovery efforts after Dominica was hit by the tropical storm Erika.
The cost structure for the Dominica Citizenship Program has been given below:
| Family Member | Fee structure |
| Single Applicant | $100,000 |
| Principal applicant & Spouse | &175,000 |
| Applicant, spouse & up to 2 children below 18 years | $200,000 |
| Additional dependents other than spouse | $50,000 |
Currently, more than one 5-star hotel brand has made the commitment with other residential and hotel resorts to build more resorts on the island. This will give the investors more alternatives to choose from.
As an alternate option, the government of Dominica also offers the real estate investment option to obtain Dominica passport. The minimum amount required for investment to be eligible under this option is $200,000, covering a family of four persons. There is only a slight difference between the real estate and donation option that is why applicants are encouraged to invest in government approved projects in the country of their second citizenship.
According to the prime minister, dependence on the program to fund capital projects alleviates the burden on tax payers. As he stated, “In an age where development financing is dwindling, and the force to gain access to available financing is becoming more onerous, governments, the world over, must find more credible ways and means of raising financing, for development programs. The alternative will be to increase domestic taxes, and /or contract additional loans.”
Following the prime minister’s presentation, Jeremy Savory, CEO and founder of the citizenship by investment advisory firm Savory & Partners, also stated, “This announcement is extremely positive as it keeps second citizenship accessible for a greater share of the region’s population seeking a second passport. In particular single applicants, or families with children over 25 who would be double, triple or multiple applications it is a cost effective alternative to other Citizenship by Investment jurisdictions. Over the last 12 months we have successfully processed almost 100 high quality applications in anticipation of a price increase, so this extension will come as welcome relief to those who were concerned they could not submit their application before 1st August 2016.”
About the Dominica Citizenship by Investment Program
The Dominica Immigrant Investor Program
Canadian Immigration
Immigration To USA
Immigration To USA From Pakistan
Immigration To Canada From pakistan
has been functioning since 1993, which makes it one of the oldest and most stable dual passport programs in the world. The applicants have to go through a thorough investigation procedure which may last up to 3 months. At the end of this time, successful applicants will be granted Dominica citizenship. The government of Dominica accepts applications only from government approved agents.The passport grants visa free travel to over 127 countries including the United Kingdom and the Schengen Zone. As a member of the Commonwealth, Dominica passport holders may stay for up to six months in the UK and three months in European countries.
The Dominica passport also provides investors with more business and banking opportunities, substantial tax benefits, as well as a safe and secure environment for families.
nice written blog. Dominica Citizenship investment programs give a chance to get citizenship by invest in some business. for more information regarding Dominica citizenship by investment. visit Dominica citizenship investment programs
ReplyDeleteThanks for sharing this post , Very nice blog
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