Dominica Citizenship-By-Investment (CBI) Program Changes (w.e.f. 15th September 2022)
Frequently Asked Questions (FAQs) for Dominica CBI changes in Fees And Eligibility
What are the changes in Fees and eligibility under CBI?
- The government of Dominica recently announced changes to its Citizenship by Investment Program.
- The changes involve fee increases and adjustments to the eligibility criteria.
- The processing fees have been increased from
- US$25,000 to US$50,000 for a single applicant and
- from US$35,000 to US$75,000 for a family of four.
- Moreover, the required time of physical residence in the country has been reduced from 12 months to 3 months. These changes are in effect as of March 1, 2021.
- Those who are interested in becoming a citizen of Dominica must now meet the new requirements and pay the appropriate fees in order to be approved.
- Starting 15 September 2022, there will be new charges and regulations in place for family members to be qualified. These new regulations will only apply to those who sign up after mid-September.
Which family members can qualify for Dominica citizenship by investing or making a contribution?
- The spouse of the main person applying for something is the person who is married to them. Original:
- Children under 18 years of age (whether they are the primary applicant’s child or the spouse’s)
- A student aged between 18 and 30 whom either the primary applicant or their spouse provides significant financial support to.
- A single woman under the age of 25 who is living and receiving financial assistance from the main applicant or their partner.
- An individual with a physical or mental disability, who is over the age of 18 and is largely maintained by the main applicant or the applicant’s partner, is eligible for consideration.
- This is referring to providing financial assistance to elderly parents or grandparents who are 65 years old or older.
What are the cost associated with buying or selling a property?
- Real Estate Fees:
- $25,000 for the principal applicant.
- $35,000 for the principal applicant and up to three dependents.
- $50,000 for the principal applicant and up to five dependents.
- $25,000 for any additional dependent.
- EDF Donation Fees:
- $100,000 for the principal applicant.
- $150,000 for the principal applicant and spouse.
- $175,000 for the principal applicant and up to three dependents.
- $25,000 for any additional dependent under eighteen.
- $50,000 for any other qualifying dependent eighteen years of age or older.
NOTE: The Dominica Economic Diversification Fund (DEDF), created by EDF (Economic Diversification Fund), is aimed at expanding the range of economic activity in the country.
Has the cost of acquiring citizenship in Dominica decreased?
- The cost of the contribution option for the primary applicant and their spouse is now $25,000 less than before.
- A family of four must still pay the same amount through real estate purchase in order to qualify for the new legislation.
- The quantity of individuals seeking safety, the ability to move freely, or reduced taxation is rising quickly, and the Dominican legislators have responded to this. They have made the passport program more transparent by changing the costs.
- Dominica provides a quick and affordable way to become a citizen without having to physically visit the country. If you’re interested in learning more, you can request a free consultation to get more details.