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The Dominica residency program is currently being promoted by the government to attract foreign individuals with high net worth and substantial capital investment, enabling them to quickly become citizens of this beautiful Caribbean island nation. So, what are the details of this citizenship by investment program? Our experts will share specific information below to help interested customers understand it clearly.
It’s no coincidence that many foreign investors, including those from Vietnam, choose to invest in Dominica’s residency program. Here’s why:
Dominica has treaties with the United States and the Caribbean Community (CARICOM) to avoid double taxation.
Dominica exempts taxes on the trade of goods within the CARICOM community.
The widely accepted currency in Dominica is the USD, and both English and Spanish are used. This creates a favorable environment for foreign citizens to live, work, and study.
You only pay personal income tax on income earned within Dominica. The country offers tax benefits to its citizens, including exemptions from gift tax, foreign income tax, inheritance tax, and capital gains tax.
Dominica does not restrict citizens from earning profits or importing capital for domestic business activities.
Dominica provides corporate tax incentives such as tax holidays, export allowances, and import duty exemptions.
Tax Advantages for Citizens Investing in Dominica Residency
When you are granted citizenship in Dominica, you will enjoy several attractive benefits:
You will have visa-free or visa-on-arrival access to 140 countries and territories, including the European Union, Hong Kong, Singapore, and the United Kingdom,...
Young citizens are not required to participate in military service; it is entirely voluntary.
You will enjoy all the rights and benefits of living and working in Dominica without the requirement to reside there.
Foreign citizens do not need a registered address in Dominica to renew their passport when it expires or runs out of pages.
This is undoubtedly the most important aspect that applicants/customers are interested in when considering investing in Dominica's citizenship. Specifically:
Applicants must be at least 18 years old, with no upper age limit.
Applicants must meet health requirements and have a clean security background.
Applicants must demonstrate that their investment funds have a legal and legitimate source.
Conditions for Citizenship in the Caribbean Island Nation
This includes the spouse, unmarried children under 30 years old who are financially dependent, and parents of the main applicant who are over 65 years old.
Foreign nationals can choose one of the two investment options to obtain citizenship in the Caribbean island nation of Dominica:
Contribute $175,000 USD (approximately 4.06 billion VND) to the Economic Diversification Fund, which supports community projects. Contribute $100,000 USD if applying alone without dependents.
Invest at least $200,000 USD in a government-approved real estate project and hold the investment for a minimum of three years.
Popular Investment Options for Foreign Nationals Seeking Dominica Citizenship
Here are the stages that applicants will undertake with the support of an assisting agency to successfully invest in Dominica citizenship:
Step 1: First, you must sign an agreement regarding the deposit and due diligence for the residency application.
Step 2: Next, the applicant will sign a service contract for the citizenship application process for Dominica.
Step 3: Then, you will transfer the investment funds and sign the investment contract if you choose the investment option.
Step 5: Once your application is approved, you will need to transfer the government fees or investment funds.
Step 6: Finally, the applicant will complete the investment and citizenship procedures in Dominica.
Addressing Common Concerns About the Caribbean Island Nation’s Citizenship by Investment Program:
The primary risk associated with investing for citizenship in Dominica is related to the project chosen by the applicant. Selecting a project or developer with a poor reputation and lack of experience can result in not meeting the government's requirements.
Your application for citizenship may be rejected if the investment funds are of unclear origin or if the applicant has a criminal record.
According to our research, the Dominica Citizenship by Investment Program was established in 1993. It is one of the safest and most reputable economic citizenship programs in the Caribbean. This program has consistently attracted high-net-worth individuals due to its reliability and the numerous benefits it offers, including favorable tax conditions, visa-free travel, and the opportunity to invest in a thriving Caribbean nation.
The Citizenship by Investment Program in Dominica was established in 1993
According to the regulations of the Government of the Commonwealth of Dominica, foreign investors must maintain their real estate investment for a period of 3 years. From the time of application, the applicant must commit to this duration and cannot sell the property before the term ends. Typically, citizenship is granted within 3 to 4 months after completing the application process.
Important Note: During these 3 years, you will not need to periodically submit proof or apply for extensions regarding your real estate investment.
According to the latest regulations regarding Dominica's residency program, the government does not require applicants/investors to travel to Dominica before obtaining citizenship. All application processes can be completed from your home country, such as Vietnam.
No Requirement to Travel to Dominica Before Obtaining Citizenshiph
We are proud to be a pioneering organization in supporting and advising foreign citizens on investing to obtain permanent residency and citizenship in Dominica. We have successfully helped many Vietnamese citizens realize their dream of securing a future for their families on this beautiful island.
We are leaders in the field of advising foreign citizens on obtaining Dominica citizenship through investment.
We have a track record of helping numerous Vietnamese citizens achieve their goals of securing residency and citizenship in Dominica.
Our team of experts possesses high-level expertise and extensive international business connections, ensuring that you receive the most accurate and beneficial advice.
We have a strong understanding and assessment of international markets, enabling us to provide you with the best possible recommendations.
The Dominica residency program offers foreign investors the opportunity to hold dual citizenship permanently. With diverse investment options, simple requirements, and a fast approval process, this program is highly attractive. For more detailed information about the citizenship program, please visit our website at https://quoctichthuhai.com/ to get expert assistance.
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