Although the country is not large in terms of size or recognition, foreign investors should absolutely consider the nation’s opportunities for investment-based citizenship. Dominica has already granted citizenship to more than 2,000 investors and their families through its program.
Dominica’s Benefits
One of the most beneficial aspects of Dominica’s program is how fast the citizenship applications are approved. It typically takes only about three months for an investor to obtain the Dominica passport because Dominica does not require investors to spend a certain period of years in the country as permanent residents as a prerequisite to citizenship.
Additionally, acquiring Dominica citizenship carries with it immense personal and financial benefits. For instance, immediately after obtaining citizenship foreign investors will enjoy the rights to work, live, study, vote, and travel in the country. They can also quickly open and run a business. There is no residency requirement even after citizenship so the investor and family can keep their homes in their country of origin if they so choose.
Moreover, English is the official language of the country which may be attractive to some foreign investors. Dominica also recognizes dual nationality so investors will not be required to renounce their former nationality, nor will Dominica inform other countries when their citizens attain Dominican citizenship, allowing for a greater level of security and privacy. Additionally, there is no compulsory military service.
Dominica’s Investment Program
In order to take advantage of these benefits, the foreign national must make one of four investments. The size of the required investment depends upon the size of the foreign national’s family. If just the investor is applying for citizenship, the required amount is $100,000USD. For an investor and spouse, the amount is $175,000USD. For a family of four (the applicant, spouse, and two children under the age of 18) the amount is $200,000USD. Finally, for an applicant, spouse, and more than two children (under the age of 18), the investment must $20,000USD and an additional $50,000USD for each child.
