If you’ve been toying with the idea of getting a Dominican citizenship through investment programs, you should know that the current fee structure has been revised, as of August 1, 2016.
The Dominican government has confirmed that the donation amount required to take part in the Government Fund for the Dominica Citizenship by Investment Programme (CIP) has increased for families or individuals looking to apply for dual citizenship through this government-funded investment instrument.
The new price structure is:
– $175,000 for an individual
– $225,000 for an individual and his/her spouse
– $225,000 for an individual who has up to two children under 18 years of age
– $250,000 for an individual, his/her spouse and two children under 18 years of age; $50,000 for any additional dependent
Dominican citizens have certain privileges which allow for international travel. As a passport holder, your citizenship allows you visa-free travel to more than 90 countries, including business hubs like Hong Kong and the UK. Visa-free travel to the European Schengen states will soon be offered by the Dominican government making it one of the most in-demand passports.
Dominica is a great place to live and work as there is very little taxation. For example, there’s no foreign income, inheritance, gift, wealth or capital tax gains tax in the country. As a successful applicant, you are granted full residency and there is no requirement at all to live or work in Dominica prior to getting citizenship. In fact, the country welcomes dual citizens.
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