Important update to Dominica’s Citizenship by Investment Program

In a move designed to enhance the integrity of the Citizenship by Investment (CBI) Program and further secure the nation’s borders, the Commonwealth of Dominica’s CBI program has announced a critical update. Our team at 10PRO Consulting is here to guide you through these changes!

As of July 17, 2023, all applicants aged 16 years and above are required to partake in a mandatory interview process. Simultaneously, the Republic of Iran has been listed as a specified country/region under the CBI program. As a result, all applications from this region will undergo enhanced due diligence, effective from the same date.

The Citizenship by Investment Program

Citizenship by Investment Programs, such as Dominica’s provide a legitimate route to citizenship in exchange for a significant economic contribution. Since its establishment in 1993, the Dominica CBI program has been assisting individuals and families in securing a second citizenship that brings multiple benefits.

As a leading immigration consultancy, a 10PRO Consulting has been instrumental in facilitating smooth transitions for numerous investors through Dominica’s CBI program. Our expertise ensures you navigate through the two main routes of investment: a non-refundable contribution to the Economic Diversification Fund (EDF) or an investment in pre-approved real estate on the island.

Benefits of Dominica’s Citizenship by Investment Program

Dominica’s CBI program has long been hailed for the variety of benefits it offers to its applicants. Successful investors gain a second passport that enables visa-free or visa-on-arrival travel to over 140 countries worldwide, including the EU, the UK, and Singapore. Other benefits include the option to maintain dual citizenship, the right to live and work in Dominica, and the ability to pass citizenship to future generations.

In terms of financial benefits, Dominica does not impose taxes on non-residents, including on wealth, gifts, inheritance foreign income, or capital gains. This taxation policy, combined with its minimum investment requirement, being one of the lowest globally, makes Dominica’s CBI program an attractive option for those seeking to optimize their global mobility and financial freedom.

The Impact of the New Rules

With the latest rules, the process becomes more robust, helping maintain the program’s prestige and respectability. The mandatory interview will serve as a comprehensive way to evaluate an applicant’s genuineness, intent, and overall eligibility. With these changes, the role of expert consultancies like 10PRO Consulting becomes even more significant.

Regarding the enhanced due diligence for Iranian applicants, this measure aligns with Dominica’s commitment to adhering to international compliance standards. The country strives to maintain a high level of integrity and transparency within its Citizenship by Investment Program. Here at 10PRO Consulting, we are committed to guiding our clients through these changes, ensuring that their journey toward securing a second citizenship is smooth and successful.