A passport of this country can be received by those who will be approved for the program. People can make an investment according to the program’s rules and become a citizen of the Commonwealth of Dominica.
Tourism is a pretty attractive industry for investment, and when looking for options to earn some money in this sector, you should consider Dominica. Although it is not the most popular destination in the Caribbean among tourists, the island country tries to attract the attention of investors by offering favorable conditions.
One of the benefits is available through the program known as citizenship by investment (CBI). The full information on the program can be learned here. In this article, you will find some info regarding the investment climate of the country and the reasons to participate in the CBI program.
Dominica Citizenship by Investment Program: What You Should Know
A passport of this country can be received by those who will be approved for the program. People can make an investment according to the program’s rules and become a citizen of the Commonwealth of Dominica. There are several options that you can use, and you should choose the one that matches your needs the most. Below, you will find more detailed information on each of the options. According to the Financial Times, the program offered by Dominica is the best one in the Caribbean.
Conditions of Receiving a Dominica Passport
Currently, you can use two options to get the passport:
- Investing in a property (at least €200,000);
- Making a donation in the Government fund (at least €100,000).
The primary option is a real investment that allows not losing your money and even generating some income. The latter option, in essence, is not an investment since you will not get any profit and you will not see your money again.
The second option is suitable for those whose primary aim is to obtain the Dominica economic citizenship without spending much money. The first option is the best choice for solid investors who want to generate some income while saving their money and also obtaining the country’s citizenship.
The Benefits of Dominica Economic Citizenship for Your Business
Although the country is only 111th out of 190 countries in terms of the ease of doing business, the Dominica citizenship by investment program allows taking advantage of many benefits, including the following:
- Travel without visa to more than one hundred countries;
- Minimum taxation;
- Duty-free markets throughout the Caribbean.
The largest industries of the country are the following:
- Service Industry.
Setting your business in any of these sectors will allow you to generate a good income.
In 2018, the country experienced a 33.2% drop in tourism, which is explained by the unavailability of many properties due to renovation. This indicator is expected to grow since more property will become available for tourists. This means that now it is a good moment to invest in property before its price increases.
Other Reasons to Receive a Dominica Second Passport
By obtaining a passport of this country, you will also be able to take advantage of the following:
- All residence rights;
- Getting passports for the members of your family;
- You will get a chance to live in an amazing country.
It is also important to note that it is unnecessary to live in the island country if you do not want to.
Even if you do not need to receive a passport of this country, you should consider it in terms of investment. It has a range of large industries that you can pay your attention to. Additionally, if you are willing to spend at least €200,000 on a property, which is expected to bring you a good income, you will also get the citizenship to enjoy even more benefits for yourself and your family members.