- This article explores the real estate investment option, including the benefits, investment costs, how to apply, and a comprehensive list of all available properties or developments.
ROSEAU, Dominica – There are currently two investment options via Dominica’s Citizenship by Investment Programme. These are the Economic Diversification Fund option and the Real Estate Investment option respectively. Let’s look at real estate investment in Dominica and why investors should consider it.
Known as ‘The Nature Isle of the Caribbean’, Dominica is one of the most beautiful islands on the planet. Sitting halfway along the Eastern Caribbean archipelago, Dominica is located just a few miles from Martinique to the south and Guadeloupe to the north. Stretching 751 km (290 square miles), the island boasts 148 km (91 miles) of uninterrupted coastline.
Additionally, a tropical, untouched paradise, with rugged, volcanic mountains, Dominica’s landscape boasts everything from waterfalls to mud ponds, as well as an array of exotic fauna. It’s no wonder that the country attracts hundreds of thousands of visitors a year.
Therefore, it makes sense that so many people want to live on this idyllic island, which is where the Dominica Citizenship by Investment (CBI) Programme can help.
Dominica CBI Programme
Launched in 1993 – making it one of the world’s longest-running economic citizenship programmes – Dominica’s CBI Programme allows investors to move, work, and even set up a business in Dominica.
Today, government-approved property developments offer unique opportunities such as investing in hotels and luxury resorts. As part of the CBI programme, applicants must hold selected properties for a minimum of three years and buy them for a minimum of US$200,000.
Benefits of real estate investment in Dominica
For those who meet Dominica’s Programme requirements, the magnificent Caribbean island offers one of the best standards of living in the region. Dominica is politically and economically stable, with a low crime rate and rich investment opportunities.
Other benefits include:
- Full residence status – including working rights.
- Joining a global community that transcends Dominica’s land borders.
- Minimal taxation, with no wealth, gift, inheritance, foreign income, or capital gains tax.
- The ability to hold multiple citizenships.
- Knowing that you have personally contributed to the prosperity of a peaceful, welcoming country, which you can call home for life.
Real Estate Investment in Dominica – How much does it cost?
To qualify for Dominican citizenship under the real estate investment option, investors must, in addition, purchase authorised property worth at least US$200,000 for the main applicant and any number of qualifying dependants.
If an application for Dominican citizenship by real estate investment is approved, the following government fees also apply:
- Main applicant – US$25,000
- For a main applicant and up to three dependants – US$35,000
- Main applicant and up to five dependants – US$50,000
- Any additional qualified dependant – US$25,000
In addition to the capital required for Dominican real estate investment, the following fees are also applicable:
- Processing fees – US$1,000 per application
- Due diligence fees – US$7,500 for the main applicant, US$4,000 for a spouse and US$4,000 for any dependants aged 16 or above
In some cases, enhanced due diligence fees may be required depending on current citizenship status, and other personal circumstances.
- Certificate of naturalisation fee – US$250 per person
- Mandatory Interview Fees – US$1000 per interview
Application process
The Dominica Citizenship by Investment Unit (CBIU) has streamlined the application process into five straightforward steps. From submission of the application to an approval in principle, applicants are generally expected to wait three months.
Step One: Applicants interested in investing in the real estate option must choose from the list of pre-approved real estate projects.
Step Two: Applicants must choose an Authorised Agent or an official promoter listed on the official CBIU website that will help them through the whole process. The Real Estate Developer will be able to also direct you to an authorised agent. Agents will assist with the documentation and act as a go-between them and the CBI Unit.
Step Three: The agent will submit the application after the due diligence fees are paid. The application will undergo a multi-tiered due diligence process. All applicants who are 16 years of age and over are required to attend a mandatory interview.
Step Four: If the application is approved in principle, it is time to make the investment. The transaction occurs between the investor and the real estate developer in the form of a purchase and sale agreement. The applicant must also pay government fees.
Step Five: At this stage, applicants will receive their Dominican citizenship. Thereafter, they will be able to apply for their new passport.
There are a select group of real estate properties approved by the government, offering investors options such as villas, hotels, luxury resorts, eco-lodges, and condos. Some of the most popular Real Estate Investment in Dominica options are Portsmouth, Soufriere, Salisbury, and around the capital Roseau.
Dominica has been preserved from mass tourism which is why the real estate market is so luxurious, composed of family villas and beautiful hotels amongst the lush rainforests.
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