Getting a second passport is becoming more and more popular, and it is no wonder that the choice of countries offering this option keeps increasing as well. There are different conditions, requirements, and advantages, and before you decide to choose something, you should compare different programs, allowing getting citizenship by investment.
Dominica is one of the options available for consideration, and in this article, you will find essential info on this topic. For more comprehensive info, please go here.
Reasons to Choose Citizenship of Dominica
According to an independent study conducted this year, Dominica has the best program for obtaining citizenship by investing money. It comes with extensive due diligence, and it is favorable in terms of speed, efficiency, costs, and reliability. Thanks to the smart management of CIP funds, the country has already made notable progress over several years.
Plenty of benefits will become available for you after obtaining a Dominican passport, including the following:
- Visa-free traveling to more than 120 countries, including different European countries as well as the UK;
- Favorable tax system;
- Living in the country is not obligatory;
- Great opportunities for different businesses.
Doing Business in Dominica
The Government of the country has created a beneficial environment for businessmen. Some advantages you can avail of if you establish your business in this country are the following:
- No restrictions are applied on the repatriation of profits/foreign capital;
- A range of benefit packages, for instance, tax relief;
- Low taxation. There are no taxes on capital gains and other types of income;
- No double taxes with the US and other territories of the Caribbean;
- Easy access to various duty-free markets located in the Caribbean;
- There is a fixed exchange rate between XCD and USD.
Opportunity for Vietnamese
Vietnamese can also use an opportunity to get a second passport in Dominica now if they manage to pass due diligence checks. Such checks aim at selecting people with good moral characters.
If approved, applicants must fulfill the investment requirements:
- contributing to the EDFof at least $100,000;
- investing at least $200,000 in properties that have been previously approved.
If you invest in a property, you can sell it in three years. The entire application process may last up to four months. It is also possible to get citizenship for a spouse or dependents (children under 30 years or parents above 55 years).
Easy Traveling Due to Citizenship by Investment in Dominica
Having a Dominican passport allows traveling all over the world without any visa. Some popular destinations are the following:
- The UK;
- Hong Kong;
- The Schengen countries and others.
Some countries, which you can enter without having any visa include:
- Czech Republic;
- Greece and others.