An increasing number of people are recognizing that Dominica, the Caribbean Island nation, has vital and affordable solutions for citizenship by investment. Dominica’s nationality law indicates that doing business and investing in its economic sectors can help individuals acquire a Dominica Second Citizenship instead of seven years of legal residence. Moreover, candidates can take advantage of massive opportunities in various sectors such as tourism, renewable energy, and agribusiness, along with safety, stability, favorable tax regime, and unrestricted foreign ownership.

Why Dominica Second Citizenship is considered to be a safe haven for your investments?

Supreme touristic investments

Dominica has been named one of the top five tourist destinations in the world due to its rich and unique culture, sustainable ecology, unspoiled rainforests, waterfalls, hot springs, and coastlines[1]. It is certainly a land of opportunity, where investors can find whatever, they need to establish or expand a profitable business.

 

Investors aiming to get Dominica passport by investment that has huge potential in developing environment-friendly lodging projects due to the high demand for boutique hotels, eco-resorts and villas, and lodges. There are also prospects to provide supplemental tourism services such as fine dining restaurants, adventure tourism projects, duty-free shopping, and medical tourism. Dominica is also well-positioned for future spa investment due to the presence of natural, subterranean hot water sources.

 

Committed to Climate-resilient

Dominica’s government is devoted to becoming one of the top climate-resilient nations by 2030 and is aiming to establish advantageous conditions for future sustainable investments in renewable energy[2]. Therefore, massive opportunities exist in the renewable energy market for people who have obtained Dominica’s passport and can design and manage power systems, and retrofit off-grid and wind generator for hotels, and factories. The combination of geothermal energy and Dominica’s natural resources opens up a world of possibilities, including paper recycling, leather industries, milk pasteurization, and food processing.

 

Rich soil, abundant water, biodiversity

Dominica’s manufacturing, agribusiness, fishery, and aquaculture businesses are growing. The island has exceptional ground for producing tropical and specialty crops, as well as clean water for raising a diversity of marine animals[3]. Investors aiming to obtain  Dominica Second Citizenship by investment can benefit from the numerous prospects in the bottled water market, as spring water and vitamin-flavored water are synonymous for both domestic and export consumption.

Dominica is also regarded as an attractive site for manufacturing and processing, owing to its abundant natural resources and qualified labor. There are also other chances for people who have Dominica

Dominica Second Citizenship in agriculture, furniture and craft manufacture, beverages and teas, and condiments and sauces. As global demand for sustainably sourced seafood grows, the enormous marine and freshwater resources present exciting opportunities for a new venture.

 

Governmental support

Dominica’s government has backed up its commitment by providing incentives for investments and developments. It supports all tourism investments[4] by providing duty-free importation of all building materials, hotel products, and furnishings, as well as exemption from VAT on capital imports, corporate income tax, and 100% profit repatriation.

 

The government provides a generous fiscal incentive package to encourage investment in the renewable energy sector[5]. These include reducing or eliminating import duty and VAT on inputs and reducing corporation tax. Renewable energy installation financing is also available through the banks.

 

Manufacturing of agro-food, aquaculture, and agricultural businesses[6] may be eligible for government subsidies. The Dominican government provides a very generous fiscal incentive package for investment in these areas, which includes an investment/income tax credit for capital expenditure related to the construction, acquisition, or improvement of an asset if a tax holiday is not available.

 

Distinguished geography

Dominica has geographic advantages due to its proximity to Europe and America. Individuals can reach within 15-minutes to French soil, and within two hours to the Unites States Port, taking advantage of the cheap flights. Dominica is building an international airport, expected to open by 2025, and will provide direct flights to the United States of America, the UK, among other countries. This airport, along with the trade agreements signed with Europe and CARICOM, will boost Dominica’s economic landscape by opening doors to crucial global regions and becoming a regional commercial and tourism hub.

 

Tax haven

Compared to the global tax regimes, Dominica is considered favorable, as there is neither wealth, capital gains, estate, death, or inheritance tax on its inhabitants or residents, nor global income tax for non-residents. The country also allows free movement of profits and dividends, and unrestricted foreign ownership of businesses. People who obtain citizenship by investment are not compelled to reside in the country, therefore, find themselves in a propitious tax situation.

 

Acquiring a Dominica’s passport by investment allows business owners to benefit from the registered and regulated offshore banks, which are more private and flexible than traditional banks and adhere to distinct regulations. Creating an offshore account, can help business owners better manage their money, diminish financial risk, and guarantee they have a backup in case they faced troubles in their home country.

 

Visa-free travel with ease with Dominica Second Citizenship

Dominica’s passport has been globally ranked this year on the 34th place. It allows visa-free travel to 145 countries, comprising the Europe’s Schengen Area, UK, Singapore, Hong Kong, the Russian Federation, and lately, China. Dominica’s passport by investment can allow businessmen to cross borders without the hassle of going through bureaucratic motions, wasting time in filling out forms and visiting embassies, as well as consuming money.

 

Finest living standards-Dominica Second Citizenship

The paradise island with its white sandy shores, macroeconomic stability, world-class health care, high level of medical institutions, burgeoning education system, as well as numerous entertainment activities, offer rich and fertile land for families to live, work, and savor life.

 

How to obtain a Dominica Second Citizenship?

The best way for Individuals and investors to obtain Dominica’s passport is to do it through citizenship by investment, therefore undergoing a strict due diligence process. Applicants must provide a non-refundable contribution to the Economic Diversification Fund or purchase of real estate in a government-approved project in addition to payment of applicable government fees. Individuals can obtain a Dominica’s passport within 4 to 5 months with no residency requirements and become a citizen for life.

 

For more information required about acquiring a Dominica Second Citizenship and the financial goals, Please visit this link.

 

References:

[1] https://www.investdominica.com/invest-here/industry-sectors/tourism

[2] https://www.investdominica.com/invest-here/industry-sectors/renewable-energy

[3] https://www.investdominica.com/invest-here/industry-sectors/organic-agribusiness-aquaculture-and-manufacturing

[4] https://www.investdominica.com/invest-here/industry-sectors/tourism

[5] https://www.investdominica.com/invest-here/industry-sectors/renewable-energy

[6] https://www.investdominica.com/invest-here/industry-sectors/organic-agribusiness-aquaculture-and-manufacturing