Citizenship by Investment and Dual Citizenship Benefits
Applying for citizenship by investment in Dominica has become increasingly popular in the last few years, and this should come as no surprise. There are numerous benefits to dual citizenship, with Dominica being a particularly appealing place to hold a second citizenship. The country offers a wealth of new opportunities and experiences, including:
- Full residence status — including working rights
- Joining a global community that transcends Dominica’s land borders
- Global mobility
- Minimal taxation, with no wealth, gift, inheritance, foreign income, or capital gains tax
- The ability to hold multiple citizenships
- Knowing that you have personally contributed to the prosperity of a peaceful, welcoming country, which you can call home for life.
Lifestyle Benefits of Dual Citizenship
Time and again, Dominica has been named as one of the world’s happiest places to live. Boasting a high number of citizens who have lived past 100, the island provides a tranquil lifestyle within a safe, peaceful, and pristine environment, and a culturally vibrant and friendly community.
The “Nature Isle of the Caribbean” is a tropical paradise and arguably one of the most beautiful places on the planet thanks to its natural beauty. Dominica is blessed with hundreds of rivers, waterfalls, and rugged mountains covered in green and dramatic cliffs overlooking the turquoise sea. In 1998, its Morne Trois Pitons National Park was even designated a World Heritage Site by UNESCO.
Dominica is also home to Boiling Lake, the globe’s second-largest hot spring, and boasts many rare plant and animal species, including its national bird and symbol, the Sisserou Parrot. The country’s calm, clear sea provides spectacular sites for diving and snorkelling, including shipwrecks and even underwater hot springs.
Since 1997, Dominica has actively participated in the work of Green Globe to develop a model for ecotourism within the island. This has led to a thriving ecotourism industry, with visitors able to stay in sustainable ecolodges, and take part in activities like beach cleaning, responsible dolphin or whale watching tours, and meeting the indigenous Kalinago people.
Business Benefits of Dual Citizenship in Dominica
The Government of Dominica offers various fiscal incentives for entrepreneurs who wish to claim citizenship by investment to the country. These include generous tax holidays, import duty and tax waivers, and streamlined processes. A concise list of business advantages is available below, but for more information, contact Invest Dominica
- Minimal taxation – no wealth, gift, inheritance, foreign income, or capital gains tax, and no personal income tax for residents
- Dominica is a signatory of double taxation treaties with the USA and the CARICOM
- No restriction on repatriation of profits and imported capital
- Great incentive packages including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance
- Dominica’s currency, the East Caribbean dollar (XCD), is pegged to the US dollar (USD) at a fixed rate
- Duty-free access to several markets across the Caribbean
One of the biggest benefits of dual citizenship in general is the increased mobility to travel between countries across the world. Although you will likely be reluctant to leave your island paradise, there is no requirement to reside in Dominica before or after your passport has been granted. Indeed, holders of Dominican passports benefit from the many increased global mobility travel regimes the Dominican Government has established with its allies across the globe.