Dominica is undoubtedly the most magnificent Caribbean Island, with its unspoiled natural beauty. The area has one of the most satisfactory living standards in the region. The Government of Dominica has announced plans to issue a second passport to individuals born on the Island but do not currently have one. The move is part of a larger plan by the Island’s leaders to encourage more loyalty and patriotism among its residents. In 1993, the Commonwealth of Dominica’s government launched the Citizenship by Investment (CBI) program, which allowed international nationals worldwide to earn second citizenship by investing in Dominica. The initiative was created to increase foreign direct investment and strengthen the economy and infrastructure of the Island.
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Why is the government creating a second passport?
Many people who were born on the Island of Dominica now live overseas. A 2012 survey by the Island’s social media agency, Visual Commune, found that more Dominica second passport program consultants than half of the population lived in another country.
Perks of Dominica’s Second Passport Program :
The Dominican passport provides cosmopolitans with the ability to travel internationally and new business options and financial perks.
- Visa-free travel is accessible: Access to many countries without a visa. Citizens of the Island state benefit from a once-in-a-lifetime opportunity: a visa-free trip to over 100 nations. The Schengen countries, Singapore, South Korea, and others are among the countries that do not require a visa. Thus, travel without visas will be possible both for tourist purposes and for conducting business and business negotiations both for tourist purposes and for conducting business and business negotiations.
- Citizenship for life: Citizenship is granted and can only be revoked in specific circumstances. Dominicans acquire a passport for ten years (children for five), after which they must undergo a standard document replacement procedure.
- Security: Obtaining a Dominican passport guarantees the defense of one’s business, bank accounts, and real estate abroad and in one’s own country.
- Nature Island:
Dominica is often referred to as the” Nature Island” of the Caribbean. This stunning Island is immersed in nature with three national parks, abundant with waterfalls, mountains, tropical forests, hot springs, glorious beaches, and 365 rivers. Dominica is one of the world’s most unspoiled islands, making it the perfect paradise for the eco-tourism industry with several specialty resorts to choose from on the Island.
- No Residency Requirements:
To maintain citizenship in Dominica, candidates are not required to visit the nation during the application process. Since the COVID-19 outbreak, the Dominica CBI program has successfully and efficiently processed new applications remotely.
- Tax Efficiency:
Dominica has no taxes on wealth, gifts, inheritance, foreign income, or capital gains. As a citizen, you will only be liable for personal tax if you live in Dominica, which will become your primary tax residence.
- Easy Application Process:
A simple application process is another advantage of the Dominica Citizenship by Investment Program. The entire procedure can take as little as four months from the moment an investor submits their application to the time they receive their passport, making it one of the most efficient. According to the Dominican government, the principal applicant and their family are not required to take any language exams or interviews to qualify for citizenship, assuming they pass severe due diligence investigations.
- Secrecy:
Dominica places a premium on privacy, so the government does not publicly reveal the names of new citizens, allowing investors and their families to enjoy dual citizenship in confidentiality.
- Confidentiality:
The authorities ensure complete anonymity and do not disclose the citizen’s first nation of citizenship that they have received a passport.
- Low cost of citizenship:
Compared to other countries’ programs, the Commonwealth of Dominica considers requiring a minimum investment to qualify for citizenship.
- Aspects that are beneficial for doing business:
Because the country is a part of the “CARICOM” alliance, people of the Island state can do business in any alliance’s countries. Other perks for business owners are also accessible.
- Magnificent Environment:
“Nature Isle of the Caribbean” is refer to Dominica since it is one of the most beautiful sites in the Caribbean. With its peaceful lifestyle and magnificent beaches, the Island is a perfect destination to live, work, and retire for individuals of all ages. Dominica is gradually becoming a favorite location for tourists and investors looking for a second home, thanks to its lush green highlands and stunning blue water.
Conclusion:
Investing in Dominica’s second passport program opens up a lot of doors. Holding a passport from that established Caribbean nation entitles you to access all government privileges, both inside and outside the country.
