Dominica

Commonwealth of Dominica

Commonwealth of Dominica is the state on the same island of the Lesser Antilles (Windward) islands in the Caribbean. Dominica - the largest of the Windward Islands, bordering the west by the Caribbean Sea and the east by the Atlantic Ocean, south-southeast of Guadeloupe and northwest of Martinique. The capital is Roseau, located on the leeward side of the island. Dominica is volcanic in origin, currently there are no active volcanoes, but volcanic activity is shown in the form of geysers, hot springs and small lakes with boiling water. There are the beaches of black and yellow sand on the coast. The highest point in the country is Morne Diablotins, which has an elevation of 1,447 meters (4,747 ft). All the boundaries are maritime. The total length of the coastline is 148 km (91 miles). English is the official language of Dominica and is universally spoken and understood. Antillean Creole, based on French, is spoken by many people on the island. Dominica's currency is the East Caribbean Dollar.

Dominica is mostly volcanic and has few black sandy beaches; therefore, tourism has developed more slowly than on neighboring islands. Nevertheless, Dominica's mountains, lush rainforests, freshwater enchanting lakes, hot springs, myriad waterfalls, and diving spots make it an attractive eco-tourism destination. Eco-tourism is a growing industry on the island.

Dominica: Tax Heaven

The Commonwealth of Dominica began offering offshore services in 1996 Today it has become one of the ideal jurisdictions and a tax haven for offshore services. The formation of International Business Companies (IBCs) is one of the key areas which generate income for the Government of Dominica. These IBCs are governed by the International Business Companies Act of 1996 Offshore companies formed in Dominica enjoy total exemption from local taxes including: Income and capital gains taxes, withholding taxes, transfer taxes, stamp duties. Total anonymity, privacy and confidentiality.

Services offered in this offshore area include tax planning and asset management, company registration, establishment of trusts, offshore banking, etc.

Dominica Citizenship By Investment Programme.

Citizenship Details.

The Commonwealth of Dominica developed its highly reputable Citizenship by Investment Programme in 1993, which today celebrates more than 20 years of continued success. Applicants under the Programme must be at least 18 years old, of good character, and of sound health, must have no criminal records. Applicants must also be able and willing to make an investment into the Dominican economy, either in the form of a contribution to the Economic Diversification Fund or as an investment in local pre-approved real estate. Dominica is proud to offer the most affordable citizenship by investment programme in the world, with a view to focusing on the overall quality and integrity of its applicants. It is a legal naturalization programme for investors based on and guaranteed by governmental laws.

The main sectors of the economy, that fall under the funding through this Programme is the development of the social sector: construction of schools, hospitals, sports stadiums, the development of the offshore sector. In financing of private projects, the emphasis is on tourism, information technology and agriculture.

You don’t have to worry that a Dominica passport would have a bad reputation or that you would be sharing you citizenship status with shadowy characters. Both the existing procedures and the regulatory framework of granting economic citizenship are certain to preclude such precedents.
In accordance with the law, the Commonwealth is not obliged to notify and does not notify other countries via official political channels that citizens of the said countries had been granted the citizenship of Dominica.
As a Commonwealth citizen, your children will be able to benefit from the UK’s youth mobility scheme, receiving preferential treatment when applying to colleges and universities in the United Kingdom

Features and benefits. Citizenship and passport of Dominica is:

Travel without problems. Dominica is politically stable and economically developed island country, so the citizens of this country can travel around the world without any restrictions or harassment.
Travel without a visa. The passport of Dominica gives you and your family the opportunity to travel freely across the world with a visa-free entry to more than 100 countries. If a visa is required, then get it will not be any problems.
Asset management and tax planning. A low tax regime. There is no income tax on Dominica, and neither is there any gift tax, wealth, inheritance or capital gains tax.

Benefits of acquiring Dominica Citizenship:

The Commonwealth permits its citizens to have dual citizenship.
There is no requirement to reside in Dominica before or after citizenship is granted.
Full residence status with the right to live and work in Dominica. Naturalized citizens of Dominica have the same rights as other citizens of the Commonwealth.
An investment in one of the approved projects provides the opportunity not only to obtain a second citizenship, but also to make profitable investments in the business and gain financial income from invested capital
Complete discretion with respect to citizenship, ensuring that one’s citizenship status is not reported to third parties
You get full irrevocable citizenship for a lifetime.
Any descendants of economic citizens can pass on the citizenship to their children and grandchildren who are entitled to the citizenship by descent, i.e. without any additional investment.

To qualify for citizenship via investing in real estate, the value of the acquired property must be a minimum of USD 200,000 and the development must be approved by the government. You are not allowed to sell on your investment during a 3-year period, but you can receive income from the activities of the project.

Another way to obtain citizenship is to invest in the Economic Diversification Fund in the amount of USD 100,000. This option does not provide for the return of dividends from your invested money.

Applicants will also be required to pay additional government fees, passport application and legal audit fees related to their chosen investments, according to the number of accompanying family members, as well as consulting fees.

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