Common Wealth of Dominica -Real Estate Program

Common Wealth of Dominica -Real Estate Program

by nabeel

REAL ESTATE OPTION:
To qualify for citizenship in Dominica under the Real Estate Option under the Citizenship by Investment Program, an applicant must purchase authorized real estate to the minimum value of USD 200,000.

Given that the application procedure under this option entails the purchase of real estate, this can prolong the processing time, which is subject to the chosen property.

The real estate must be held for 3 years and may be eligible for re-sale under the Citizenship by Investment Programme after 5 years from the original purchase date.

Why is it important to apply for second citizenship and second passport through us?

It is important to apply for second citizenship and second passport with New Dominica Citizenship (Alick Lawrence Chambers), because:
· We are the most reliable Dominica Government Approved Economic Citizenship Agent since the beginging of program.
· We got extraordinary efficient system and highly skilled lawyers and set of professional advisors, who are taking care of your applications and getting you through the whole process, hassle-free.
· We reduce the cost of telecommunication and unnecessary travels back and forth.
· We present an application free from mistakes and speed up the process
· We assist you on money transfer issues in addition of making payments easier for you.
· We do all the paper works for you such as notarizing and court issues.
· Not to get a refusal from the Government of Dominica.
· Speed up your application process and passport issues as result of local follow up.

LIFESTYLE BENEFITS:
Dominica has been named as one of the world’s happiest places to live. Boasting a high number of centurions (people who have lived to be older than 100 years), it offers an easy lifestyle within a safe, peaceful and pristine environment with a culturally vibrant and friendly community.

The “Nature Island of the Caribbean” is a green tropical paradise and one of the most beautiful islands in the Caribbean. It is practically untouched nature with countless rivers and waterfalls, and emerald green mountains dropping dramatically into the turquoise sea.
Dominica hosts the world’s second-largest hot spring, Boiling Lake and features lush, mountainous rainforests, which are home to many rare plant, animal, and bird species. Dominica’s clear and calm oceans offer excellent opportunities for diving and snorkeling and have spectacular dive sites including shipwrecks and even underwater hot springs.

In 1998, Dominica’s Morne Trois Pitons National Park was designated a World Heritage Site by UNESCO. Since 1997 Dominica has actively participated in the work of Green Globe to develop a model for ecotourism within Dominica.

BUSINESS ADVANTAGES OF DOMINICA CITIZENSHIP:
· Minimal taxation – no wealth, gift, inheritance, foreign income or capital gains tax and no personal income tax for residents
· Dominica is signatory of double taxation treaties with the USA and Caricom
· There is No restriction on the repatriation of profits and imported capital
· Generous incentive packages including corporate tax incentives, full exemption from import duties, tax relief benefits and export allowance
· Currency pegged to US Dollar
· Duty Free Trading in Caribbean

INTERNATIONAL MOBILITY:
Passport holders can use their citizenship to benefit from greater ease of international travel, including to the United Kingdom, Singapore, Hong Kong , Ireland and complete European Schengen states. Moreover, the government of Dominica has provided a number of fiscal and other concessions which aim to make doing business in this island paradise even more attractive, these include generous tax holidays, import duty and tax waivers, and streamlined processes.

Successful applicants can benefit from visa-free travel to the countries below. It must be noted that visa-free travel to the countries listed below is subject to change. It is strongly advisable that the relevant Government authorities and agencies are contacted prior to travel arrangements made.

Country Country
ANGUILLA
ANTIGUA & BARBUDA
ARUBA
AUSTRIA
BARBADOS
BELARUS*
BELGIUM
BELIZE
BHUTAN*
BRITISH VIRGIN ISLANDS
BRUNEL
BURUNDI*
CAPE VERDE ISLANDS
CAYMAN ISLANDS
COLUMBIA
COMOROS*COOK ISLANDS
COSTA RICA
CYPRUS
CZECH REPUBLIC
DENMARK
DOMINICAN REPUBLIC
EAST TIMOR*
EGYPT*
EL SALVADOR
ESTONIA
FIJI

FINLAND
FRANCE
GERMANY
GIBRALTAR
GREECE
GRENADA & THE GRENADINES
HAITI SAO TOME AND PRINCIPE*
SEYCHELLES
SINGAPORE
SLOVAKIA
SLOVENIA
SWITZERLAND
TANZANIA
THE BAHAMAS

HONG KONG
HUNGRY
ICELAND
IRELAND
ITALY
JAMAICA
JORDON*
KOREA (SOUTH)
LAOS*
LATVIA
LEEWARD ISLANDS
LESOTHO
LIECHTENSTEIN
LITHUANIA
LUXEMBURG
MALDIVES*
MALTA
MARSHALL ISLANDS*
MAURITANIA*
MAURITIUSMONTSERRAT
NAMIBIA
NETHERLAND ANTILLES
NETHERLANDS
NORTHERN MARIANA ISLANDS*
NORWAY
PANAMA
PERU
PHILIPPINES
POLAND
PORTUGAL
ROMANIA
SAMOA (WESTERN)
SOLOMON ISLANDS
SPAIN
ST. KITTS & NEVIS
ST. LUCIA
ST. VICENT & THE GRENADINES
SWEDEN

 

FEES APPLICABLE (NDF):
Following approval of a real estate investment application, additional Government Fees are payable including the due diligence fees. as mentioned here below:

GOVERNMENT FEES:
In addition to the capital investment required for the selected investment option, additional fees are payable by each family member.
These comprise of the following:

PROCESSING FEES:
Per Application – USD 3,000

DUE DILIGENCE FEES (required for both the Real Estate and the Government Fund options)
Main Applicant – USD 7,500*
Spouse – USD 7,500
Dependant aged 16 years and above – USD 4000
*In some cases, an enhanced due diligence may be required depending on the citizenship the applicant holds and an additional fee to be paid.

OTHER FEES:
(required for both the Real Estate and the Government Fund options)
Fee for Certificate of Naturalization – USD 750 per person
Expedited passport issue fee – USD 1,200 per person

GOVERNMENT FEES FOR THE REAL ESTATE OPTION ONLY:
The minimum required investment for the Real Estate Option is USD 200,000
The following government fees are applicable for the main applicant and any accompanying dependents:
· USD 50,000 for the Main Applicant
· USD 25,000 for the Spouse
· USD 20,000 for a dependent of the main applicant under the age of 18
· USD 50,000 for a dependent of the main applicant aged 18-25 years

As a citizen of Dominica, you can take advantage of a range of personal benefits which include:
· Becoming a citizen of this peaceful and welcoming country for life through one of the oldest and most trusted citizenship by investment programmes
· Visa-free travel to more than 100+ countries, including the EU-Schengen, United Kingdom, Singapore, Hong Kong and Ireland
· Minimal taxation – no wealth, gift, inheritance, foreign income or capital gains tax
· Full residence status, with the right to live and work in Dominica
· Dual citizenship is allowed
· There is no requirement to reside in Dominica before or after citizenship is granted
· The application process is confidential.

List of Required Documents:

APPLICANT PERSONAL DOCUMENTS:
· Passport(s) copy/copies and Driving License(s).
· Birth certificate(s) and Identity card(s).
· Marriage certificate / Divorce certificate “if any”.
· Letter of Employment or Trade License and Financial Statement for self-employed.
· Education Certificate(s) and letter from school/university for any student(s).
· Police report(s) from country of origin/residence(s) for who 16 years old & above.
· Military certificate.
· Eight passport photos “white background and dark dress”
· Bank Reference letter
· One-year bank statement.
· Proof of Address.
· Two personal character references
· One professional reference.

GOVERNMENT APPLICATION FORMS:
· Form D1, Disclosure Form.
· Form D2, Fingerprint and signature.
· Form D3, Investment Form.
· Form D4, Medical Form along with lab test.
· Form12, Two original forms.

Minimum Amount:
In order to be benefitted with the program, the pensioned must receive an annual income no less than US$ 1,500.00, and the renter must perceive US$ 2,000.00, or its equivalent to the national currency.
In case of dependents, the principal applicant must receive and additional income of US$ 250.00 for each dependant.

The pensioned or renters could apply to this permit, as their spouses and children less than 18 years of age, handicapped of legal age, or the ones of legal age who are in college and are economically dependent of the applicant.

UseFull Links:
Official Website of Dominica Government: Find the latest information about changes in Dominica Government
· Dominica.gov.dm/
· Office of the Prime Minister: Website to contact directly Prime Minister of Dominica.
· Opm.gov.dm/
· High Commissions & Consular Offices United Kingdom: The Dominica High Commission is the diplomatic representative of the Commonwealth of Dominica in the United Kingdom and Europe.
· Dominicahighcommission.co.uk/
· Financial Services Regulatory Commission: The Ministry of Finance is central to the development strategy of the Government.
· Finance.gov.dm/
· Invest Dominica: Guide for the investment option in Dominica.
· Investdominica.com
· Customs: Responsible for the collecting revenue due on imports and ensuring compliance with customs and other relevant laws.
· Customs.gov.dm/

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