London, Dec. 15, 2014 /PRNewswire/ -- Dominica (also widely known as the "Nature Isle"), located east of the Caribbean archipelago, stands out for its unique natural landscapes and historical background. With its pristine natural beauty, Dominica is considered one of the most livable countries. Now, this tranquil tropical Caribbean nation offers a citizenship-by-investment program, inviting investors and their families to obtain legal citizenship through government-approved investment projects.
The Dominica Citizenship by Investment Program (also known as the Economic Citizenship Program) was established in 1993. After years of development, the government decided earlier this year to expand the program to attract more investment, particularly in the real estate sector. Applicants can obtain citizenship by investing no less than USD 200,000 (approximately RMB 1.23 million) in a government-approved real estate project. In addition, the government fund project that supports national development remains open to applicants, requiring a minimum contribution of USD 100,000 (approximately RMB 610,000) per applicant.
To strengthen and further promote the implementation of the global citizenship investment program, the Prime Minister of Dominica announced revisions and improvements to relevant legislation on October 21, 2014.
The newly established Citizenship by Investment Unit (hereinafter referred to as CBIU) will be responsible for all investment migration programs. At the same time, the government will also enhance due diligence measures, expected to take effect in November 2014. However, unlike before, immigration interviews will be eliminated, remaining applicable only in special circumstances.
The streamlined CBIU will enhance the credibility and stability of the citizenship program, particularly in promoting the real estate citizenship investment initiative. Moreover, the shorter processing time makes the program more attractive to potential applicants. Protecting the integrity of the program to uphold the country's good reputation remains at the core of the Dominican government’s efforts.
Why has the Dominica citizenship program remained so popular over the years? Its significant benefits come from multiple aspects, including lifetime citizenship in a peaceful and law-abiding country; no VAT, property tax, inheritance tax, or restrictions on domestic or international capital movement.
Whether you are seeking a second citizenship or an attractive investment opportunity, Dominica offers incentives for investment aimed at supporting and advancing its sustainable economic development, covering sectors such as offshore financial services, ship registration, data processing, light manufacturing, and tourism services.
With the rise of immigration programs and dual citizenship globally, Dominica, as an industry leader, consistently provides a reputable and trustworthy citizenship program along with ample investment opportunities, making it a beautiful choice for many.