Obtain Dominica Citizenship by Entrepreneur Visa Program
Dominica has become one of the golden hubs for obtaining citizenship by investment in recent years, offering one of the most cost-effective investment schemes. Investment opportunities in Dominica are diverse and reliable, and the Dominica International Airport project has recently been added to the list of high-quality and prestigious projects in the country.
In addition to the investment options for obtaining a Dominica passport, a new method has been introduced called the Dominica Entrepreneur Visa, which will initially grant Dominica residency to applicants. The full details of this program are not yet known, but the entrepreneur visa is expected to be approved and start receiving applications this year.
Citizenship by Investment Program of Dominica
According to the legislations of the Dominica Citizenship by Investment, a foreign-national who makes an economic contribution in the form of a donation to the Government Economic Diversification Fund, or a real estate investment, is eligible to receive Dominica citizenship. The Dominica Citizenship by Investment Unit (CBIU) is responsible for managing all applications and enforcing regulations.
Investment options to get Dominica citizenship
To apply for Dominica citizenship, there are some restrictions for several nationalities. Nevertheless, Dual citizenship is recognized in Dominica. The applicants are not required to renounce their previous nationality to become a citizen of Dominica.
Two investment options are offered to the applicants:
Option 1- Real estate investment:
- USD 220,000 minimum investment in an approved real estate project by the government of Dominica, to be kept for a minimum of 4 years.
Option 2- Non-refundable donation to the economic diversification Fund (EDF):
- USD 100,000 minimum donation.
Requirements to get citizenship of Dominica
- To be 18+ years old,
- To prove they have enough funds to make the required investment, and prove the legal source of these funds,
- Adult children under 30 years old and parents above 55 years old can be added to the application, the must not suffer from any contagious disease and/or serious health problems,
- Clean criminal record,
- Not to be subject of a criminal investigation.
Dominica Entrepreneur Visa Program in 2021
The third option of investment, named Dominica’s Entrepreneur Visa Program, was offered to the applicants in early September in 2020 that leads to Dominica citizenship. Since then, professionals of the sector and investors waited for further information. Finally, Roosevelt Skerrit, the Dominican Prime Minister, disclosed some brief data on the issue and emphasized that the new Entrepreneur Visa Program waits for the approval of the cabinet and is set to launch in 2021.
He also stated that the program will add new energy and vitality to the economy of the country. This program opens the path to Dominican citizenship in exchange for a substantial investment in the country’s private sector.
The aim of the Entrepreneur Visa scheme is to provide an additional vein of income to Dominica and to act as an alternative to the country’s Citizenship by Investment Program.
The investment options of the Entrepreneur Visa Program of Dominica
This program offers 3 investment options to the applicants:
- A minimum investment of USD 50,000 in government’s Investment Fund. The contribution must be made into an existing government-approved company,
- A minimum investment of USD 100,000 in a start-up project. The project must be registered in the Commonwealth of Dominica. The start-up must also employ at least three workers with full-time jobs,
- Invest in a government-approved public sector or private sector venture.
According to the Entrepreneur Visa, a two-year residency permit is initially granted to the applicants which is issued within 45 days after the approval of the application. Then, the applicants can apply for citizenship if they comply with the minimum stay requirements throughout these two years.
Requirement to get Dominica citizenship through the Entrepreneur Visa Program
The applicants are first required to deposit at least USD 100,000 into a local financial institution in Dominica. The successful applicants also need to spend at least three months in Dominica every year. If this criterion is not met, the applicants are not eligible to apply for naturalization.
Benefits of the Entrepreneur visa program of Dominica
Dominica Entrepreneur Visa offers many benefits to investors. The most important one is Dominica citizenship which grants the applicants visa-free travel to more than 140 countries. Additionally, it also allows family members to reside in Dominica. On the other hand, the investors can benefit not only from the country’s favorable tax regime but also the amazing climate and natural beauty of Dominica.
In short, the Entrepreneur Visa brings the applicants:
- Pathway to Dominica naturalization (visa-free travel to 140 countries including Schengen states),
- Permanent residence for the whole family, including children under 21 years old,
- Fast processing time,
- Favorable tax regime,
- Peaceful and clean environment without pollution,
- Great quality of life set amidst a tropical climate,
- Political stability,
- Visa-free travel to CARICOM countries,
- Ease of doing business in the Caribbean and beyond.
For more information, please contact our advisors in UAE, Denmark or Canada, and we will do our utmost to guide you through your Dominica Citizenship by Investment process.
Do not hesitate to comment below, if you have any question or experience in this regard.