If you are in the market for Citizenship by Investment and you have targeted the Caribbean because of its reputation for discrete banking and favorable taxation, made world famous by the Caymans, the lesser known island nation of Dominica might be perfect for you.
The Caribbean was actually the birthplace of Citizenship by Investment (CBI), with St Kitts and Nevis offering the first ever CBI program in 1984. Since 1993 Dominica have had their own highly successful CBI program, with thousands of successful and satisfied applicants over the ensuing twenty-plus years.
Introduction To Dominica
Dominica also known as the Commonwealth of Dominica, and not to be confused with the Dominican Republic is a sovereign island nation in the Caribbean. Formerly both a French and British colony, it was granted independence from the UK in 1978, though still remains part of the British Commonwealth, and its national language is still English. In terms of size and population Dominica is one of the smallest nations in the world, but its 73,000 inhabitants have an ample 50km2 of living space, roughly the same as that of Singapore whose population is 5.5 million.
Dominica is a popular tourist destination, famed for breathtaking unspoiled beaches with white-golden sands and clear turquoise seas, plus its fabulous, vast, dense rainforests, perfect for exploring and seeing exotic wildlife in its natural habitat.
Dominica Citizenship Program
With its low (if any) taxation and discreet banking set against a background which is close to paradise, anyone who is familiar with Citizenship by Investment knows why the Caribbean is so appealing. Here are just some of the reasons why the Dominica CBI program in particular could be exactly what you are looking for:
- Fast and Economical – The Dominican Citizenship by Investment program offers the cheapest and fastest route to second citizenship in the Caribbean. For a minimum outlay of $100,000 (this is a non-refundable sum and is considered a charitable donation to Dominica) full Dominican citizenship and passport can be acquired in just three months.
- Visa-Free Access To 119 Countries – The Dominica passport is one of the best performing in the Caribbean, with access to 119 countries including the UK, Europe’s Schengen Area, many Commonwealth nations, much of Latin America plus South-East Asian countries like Hong Kong, Singapore and South Korea.
- Passport For 10 Years, Citizenship for Life – Once acquired, Dominican citizenship is for life, regardless of a change in government. The Dominican passport has a ten-year life span, and is easily renewed.
- Full CARICOM Membership As a Dominican citizen you will automatically become a member of CARICOM, which is the Caribbean Community’s very own EU. This means that you are free to live, work and invest in any of the 20 CARICOM nations, which include Antigua and Barbuda, Belize, Grenada, Haiti, St. Lucia, St. Vincent’s and the Grenadines, Jamaica, Barbados and the Cayman Islands.
What Business Benefits Does Dominican Citizenship Offer?
Like her Caribbean cousins the Cayman Islands, St. Kitts and Nevis and Antigua and Barbuda among others, Dominica is also famous for its low taxation and discrete banking.
Since its independence in 1978 the Dominican government has legislated in favor of the facilitation of offshore accounts, trusts, corporations and foundations, and provided private and tax-friendly offshore banking services. Dominica also initiated privacy laws which are designed to protect the identities of theses offshore accounts, trusts, corporations and foundations.
The Commonwealth of Dominica imposes no income tax, corporate tax or capital gains tax on income earned abroad. There is also no taxation on interest earned from an offshore bank account.
Despite the fact that Dominican banks handle vast sums on a regular basis and work with some of the biggest corporations in the world, opening and maintaining an account is straightforward and surprisingly uncomplicated.
Here are just some of the benefits Dominican banking can offer you:
- Confidentiality Bank secrecy in Dominica is a serious matter, and written into its constitution
- Multi-Currency Accounts You can run as many currencies as you like through one account and no matter how many currencies you use, your expenses for the account maintenance will remain only for that account.
- Favorable Tariffs ideal for the transfer of funds and general account maintenance.
- Full Internet-Banking Facilities allowing you to access your account at any time and access your funds whenever you need to.
- Multilingual Customer Service languages include English, Spanish, French, Arabic, Chinese and Russian.
- No Personal VisitÂ Required 2ndPassports.com can help you open your Dominican bank account from the comfort of your home or office, wherever you may be in the world.
If you would you like more information about the Dominican Citizenship by Investment program, if you are interested in other Caribbean CBI options, or if you are curious as to what the EU has to offer when it comes to Citizenship by Investment, 2ndPassports.com are here to help and advise you.
Feel free to contact us via email, WhatsApp or Telegram. If you prefer you can chat to one of our expert representatives directly you can call us using our encrypted phone and Skype lines. All of our contact details are listed at the top of the 2ndPassports.com homepage.
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