Acquiring Citizenship of Dominica: Pros and Cons

Dominica is a small paradise island in the eastern part of the Caribbean. Dominica is one of the five Caribbean countries that administer citizenship-by-investment programs. In other words, they ‘sell’ their citizenship to foreigners.

A second passport brings numerous advantages. In the modern world, it’s a must-have if only you can afford it. The document can open multiple new perspectives to you. Around a dozen countries of the world ‘sell’ their citizenship to foreign investors and Dominica is one of them. Why should you prefer economic citizenship of Dominica to other offers? What downsides are associated with obtaining citizenship of this country? We discuss these questions below.

Visit Dominica

Dominica is a volcanic island and an independent country in the Caribbean Sea. It is part of the Lesser Antilles. Picturesque tropical beaches, hot springs, geysers, waterfalls, the famous Boiling Lake, national parks, comfortable cities and colonial heritage in architecture and way of life are among the things that you will find in Dominica if you visit the country as a tourist. Its lush vegetation is simply astounding. Some places are so remote and so wild that you can get there only by a zip line. Dominica is eco-tourists’ Mecca.

At the same time, you can obtain the right to live in Dominica permanently if you ‘buy’ a passport of the country. Its citizenship-by-investment program has been functional since 1993 and it has always compared favorably with other similar programs. This main reason for that has been the low ‘price’ of Dominican citizenship: US$ 100,000 if you donate to the state fund and US$ 200,000 if you invest into real estate. We have to note, however, that the prices are going up very soon. If you visit, you will find a lot of information about the latest tendencies in the investment immigration market.

If you relocate to Dominica, you will find that the cost of living is very low there. Renting a one-bedroom apartment in the downtown area can cost only US$ 300 per month. Please find some food prices below:

  • 1 kg of chicken breast or a dozen eggs – US$ 4.5;
  • 1 kg of bananas – US$ 3;
  • 1 liter of milk – US$ 2.5.

Dominicans speak English and living in the country is easy. Buses run between cities and towns and ferries can take you to the neighboring islands. There are over 60 schools in Dominica including schools for children with special needs. The healthcare quality is satisfactory in the country.

New economic opportunities

Those with an entrepreneurial spirit will find multiple business opportunities in Dominica. The country has a stable economy based on tourism, agriculture, and financial services. You could launch a business venture in Dominica without going through too much red tape. Besides, Dominica is a CARICOM member, which means that citizens of the country are entitled to live and work in any of the member states.

Visa-free travel with a Dominican passport

Another advantage that citizenship of Dominica would bring is enhanced global mobility. Holders of Dominican passports can visit 140 countries without visas including, the EU countries, Canada, Great Britain, and many others.

This fact should be important for you if the passport of your home country is a ‘weak’ one. Some national passports are also ‘toxic’, which means that their holders are unable to set up foreign bank accounts, for example. With a passport of Dominica, you can open a bank account in a great number of countries as well as take part in international investment projects.

Tax incentives and financial stimuli

Dominica incentivizes its citizens to engage in active business projects by levying small taxes on them and offering financial support to socially significant business ventures. Incomes made in other countries are not taxed in Dominica even if you are a citizen of the country. Some individuals and corporations use Dominica for tax-planning purposes because the level of financial services that you can find in the country is rather high.

The status of a full-fledged citizen of Dominica can help you find attractive investment opportunities and simultaneously lessen your tax burden.

Dominican lifestyle

You are going to love living in Dominica if you decide to relocate to the country for good. Fantastic beaches, fantastic mountains, fantastic lakes and waterfalls – you would not believe how many natural wonders you can find in Dominica! There are numerous hiking trails in the country that can lead you to some breathtaking views. There are four species of snakes in Dominica and none of them is poisonous. In general, living in Dominica is extremely safe.

Besides, the country has a diverse culture and many interesting traditions. You are going to enjoy the local music, arts, and cuisine. Carnivals and festivals are not infrequent in Dominica and the pace of life is rather relaxed.

Downsides of living in Dominica

Dominica cannot be referred to as a prosperous country. Its economy is stable and no-one could possibly starve in the Caribbean because acceptable food grows on trees and swims in the water. However, many people in the country have to try hard to make ends meet. Some houses in Dominican cities look shabby and some roads need repairing. Some infrastructural objects are clearly missing.

On the other hand, retirees from the U.S., Canada, or Western Europe feel as if they were millionaires living in Dominica, as the cost of living is very low in the country. The food is inexpensive and you don’t need much clothing in that region of the world.

A more important downside, however, is related to the natural disasters that Dominica has to face on a regular basis. The matter is that hurricanes hit the island once in a few years and they bring about disastrous consequences. Trees fall, rivers flood, and the coastline looks devastated after a hurricane. The center of the island does not suffer from hurricanes so much but most people live in the coastal areas anyway.

Should you apply for citizenship of Dominica?

A passport of Dominica would bring you global mobility as well as new business, investment, and banking opportunities. Besides, you could reduce your tax burden if you became a fiscal resident of Dominica. But should you apply for citizenship of the country by investment if your intention is to relocate to the Caribbean and live there permanently on legal grounds? The answer is affirmative if you appreciate a relaxed lifestyle, sunny weather almost all around the year, extremely wild nature, and peace and quiet. If you are looking for comfort and luxury, you had better consider some other places. Grenada, St Lucia, St Kitts and Nevis, and Antigua and Barbuda are also located in the Caribbean and they have citizenship-by-investment programs too.

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