Choosing an investment option is an important part of applying for citizenship through Dominica’s Citizenship by Investment (CBI) Programme.
The Programme currently provides two qualifying routes: a contribution to the Economic Diversification Fund (EDF) or an investment in Government-Approved Real Estate.
Both start at a minimum of US$200,000, but they work differently.
An EDF contribution is a non-refundable contribution to a Government fund that supports national development. The real estate route involves purchasing an interest of at least US$200,000 in a development approved for participation in the Citizenship by Investment Programme and complying with the applicable holding period.
The minimum headline investment is therefore only one factor to consider.
Before choosing between the two Dominica CBI investment options, prospective applicants should understand the total cost, how each route works and how their family circumstances and objectives could influence their decision.
Here are five questions to consider.
1. Do I prefer a contribution or a real estate investment?
The most fundamental difference between Dominica’s two CBI investment options is what happens to the qualifying investment.
Economic Diversification Fund
The Economic Diversification Fund is a Government fund established to support Dominica’s national development.
For a single applicant, the minimum qualifying contribution is currently US$200,000.
The contribution is non-refundable and may be used to support public and private sector development in areas such as:
- healthcare;
- education;
- infrastructure;
- tourism;
- agriculture; and
- other national development priorities.
Once an applicant receives approval in principle, the required contribution is made in accordance with the Programme’s requirements.
Government-Approved Real Estate
The alternative is to invest at least US$200,000 in a Government-Approved Real Estate Project.
Unlike the EDF contribution, this route involves acquiring an interest in a qualifying real estate development.
Importantly, purchasing any property in Dominica does not automatically qualify an applicant for citizenship.
Only developments officially approved for participation in the Citizenship by Investment Programme can satisfy the real estate investment requirement.
Prospective applicants should therefore ask themselves whether they prefer the simplicity of making a qualifying contribution or whether acquiring an interest in an approved real estate development better aligns with their objectives.
2. What will the total cost of my application be?
The US$200,000 minimum investment does not necessarily represent the total cost of a Citizenship by Investment application.
Applicants should consider the full cost associated with their selected investment route.
EDF contribution requirements
The current minimum EDF contributions are:
- US$200,000 for the main applicant;
- US$250,000 for the main applicant and up to three qualifying dependants;
- US$25,000 for each additional dependant under 18; and
- US$40,000 for each additional dependant aged 18 or older.
Additional processing, due diligence, interview and naturalisation fees also apply.
Real estate investment requirements
Under the real estate route, an applicant must invest at least US$200,000 in an Approved Project.
Government fees are then payable in addition to the qualifying real estate investment.
These currently start at:
- US$75,000 for the main applicant;
- US$100,000 for the main applicant and up to three qualifying dependants;
- US$25,000 for each additional dependant under 18; and
- US$40,000 for each additional qualifying dependant aged 18 or older.
Applicants may also incur costs associated with the particular real estate transaction or development.
For both routes, applicable Programme fees can include processing, due diligence, mandatory interview and Certificate of Naturalisation fees.
The overall cost therefore depends on factors such as the selected investment option, the number and ages of qualifying dependants and whether additional or enhanced due diligence is required.
Rather than comparing only the US$200,000 minimum investment, applicants should consider the total cost of the application for their individual family circumstances.
3. Am I comfortable with the real estate holding requirements?
Applicants considering the real estate route should understand that the qualifying investment cannot necessarily be sold immediately after citizenship is granted.
Under the current Programme requirements, qualifying real estate must generally be held for at least three years from the date citizenship is granted.
If the property is subsequently sold to another Citizenship by Investment applicant and is intended to qualify that purchaser under the Programme, it must have been held for at least five years from the date citizenship was granted to the original investor.
This makes the intended investment period an important part of the decision.
Applicants considering Government-Approved Real Estate should also understand the specific terms associated with the development in which they are considering investing.
These may include matters such as:
- the type of property interest being acquired;
- ownership arrangements;
- management arrangements;
- ongoing costs or charges;
- resale provisions;
- potential rental arrangements; and
- other commercial terms.
Government approval means that a project is approved to participate in Dominica’s Citizenship by Investment Programme. It should not be interpreted as a guarantee of rental income, capital growth or investment performance.
Applicants should review the individual terms carefully and obtain appropriate independent professional advice where necessary.
4. Am I applying alone or with qualifying dependants?
Family composition can have a significant effect on the total cost of a Dominica Citizenship by Investment application.
This is particularly relevant when comparing the EDF and real estate routes.
Under the EDF option, the qualifying contribution changes according to the number of dependants included in the application.
Under the real estate option, the minimum property investment remains US$200,000, while additional Government fees apply according to the number and ages of qualifying dependants.
Eligible dependants may include certain spouses, children, parents or grandparents, provided they satisfy the current Programme requirements.
Applicants should therefore establish which family members qualify for inclusion before comparing costs.
For example, the most appropriate calculation for a single applicant may differ substantially from the calculation for a family with several qualifying dependants.
An Authorised Agent can help applicants determine the applicable contribution, Government fees and other Programme costs based on their individual family composition.
5. What are my objectives beyond obtaining citizenship?
Cost is important, but it should not be the only consideration when choosing between Dominica’s CBI investment options.
Applicants should also think about what they expect from the underlying transaction.
Someone considering the EDF may value the straightforward nature of making a qualifying contribution to a Government fund supporting national development.
Another applicant may prefer the real estate route because they are interested in acquiring an interest in an approved development and are comfortable with the associated holding requirements and commercial considerations.
There is no single investment route that is appropriate for every applicant.
Applicants should consider questions such as:
- Do I want to make a contribution or acquire a real estate interest?
- Am I comfortable committing to the required real estate holding period?
- What is the total cost for my family?
- Have I considered the specific terms and costs of the Approved Real Estate Project?
- Do I understand what happens to the funds under each route?
The answers can help applicants have a more informed discussion with their Authorised Agent.
Do the application and due diligence requirements differ between the two investment options?
Choosing one investment route rather than the other does not remove the Programme’s eligibility or due diligence requirements.
Every Citizenship by Investment application is subject to review and background screening.
Dominica’s due diligence process includes several layers of assessment, involving Authorised Agents, the Citizenship by Investment Unit and independent due diligence agencies.
Applicants may be subject to checks concerning their:
- identity;
- citizenship and residence history;
- criminal background;
- business and professional activities;
- financial background;
- source of wealth;
- source of funds;
- sanctions and watchlist status; and
- other relevant background information.
Applicants aged 16 years and older are also required to participate in a mandatory interview.
The CBIU assesses each application individually before a decision is made.
When do I make my Dominica CBI investment?
Applicants do not complete the qualifying EDF contribution or finalise the required real estate investment simply to have their citizenship application assessed.
First, the application is prepared and submitted through an Authorised Agent.
The CBIU then conducts the required assessment and due diligence process.
If an application is successful, the applicant receives approval in principle.
The applicant is then instructed to:
- make the required Economic Diversification Fund contribution; or
- finalise the qualifying Government-Approved Real Estate investment.
Once the investment has been completed, confirmed and the remaining Programme requirements have been satisfied, the applicant can proceed towards receiving their Certificate of Naturalisation.
Can an Authorised Agent recommend an investment option?
Every Dominica Citizenship by Investment application must be submitted through a Government-Authorised Agent.
The Authorised Agent can explain how the two investment routes work, identify the Programme requirements relevant to the applicant and help establish the applicable costs based on the applicant’s circumstances.
Applicants should always verify that the person or company representing them appears on the official CBIU list of Authorised Agents.
Where an applicant is considering the commercial or financial merits of a particular real estate investment, independent legal, tax or financial advice may also be appropriate.
Dominica CBI investment options at a glance
Economic Diversification Fund
Minimum contribution: US$200,000 for a single applicant
Type: Non-refundable contribution
Purpose: Supports public and private sector development in Dominica
Family applications: Contribution amount changes according to the number and eligibility of dependants
Holding period: Not applicable
Government-Approved Real Estate
Minimum investment: US$200,000
Type: Investment in an Approved Real Estate Project
Additional Government fees: From US$75,000 for a single applicant
Family applications: Additional Government fees depend on family composition
Holding period: At least three years, or five years where the property is subsequently intended to qualify another CBI applicant
Frequently asked questions about Dominica CBI investment options
What are the two investment options for Dominica citizenship?
Dominica’s Citizenship by Investment Programme currently offers two qualifying routes: a contribution to the Economic Diversification Fund or an investment in Government-Approved Real Estate.
What is the minimum investment for Dominica citizenship?
The minimum qualifying amount starts at US$200,000 under both routes. However, the total amount payable varies according to the selected investment option, family composition and applicable Programme fees.
Is the Dominica EDF contribution refundable?
No. The Economic Diversification Fund contribution is a non-refundable qualifying contribution to a Government fund supporting national development.
Can I purchase any property in Dominica to qualify for citizenship?
No. To qualify through the real estate route, an applicant must invest at least US$200,000 in a Government-Approved Real Estate Project that is authorised to participate in the Citizenship by Investment Programme.
How long must I hold CBI real estate in Dominica?
The qualifying real estate investment must generally be held for at least three years from the date citizenship is granted. If it is subsequently sold to another CBI applicant and is intended to qualify that purchaser under the Programme, the applicable period is at least five years.
Which Dominica citizenship investment option is cheaper?
The total cost depends on the applicant’s circumstances, particularly the number and ages of qualifying dependants and the fees associated with the selected route. Applicants should compare the complete cost of each option rather than the minimum US$200,000 headline amount alone.
Does choosing real estate change the due diligence process?
No investment route exempts an applicant from the Programme’s eligibility and due diligence requirements. Applications under both routes are subject to the CBIU’s assessment and applicable due diligence procedures.
When is the qualifying investment made?
Following a successful assessment and approval in principle, the applicant is instructed to make the qualifying EDF contribution or finalise the Government-Approved Real Estate investment.
Choosing the right Dominica CBI investment route
Dominica’s two Citizenship by Investment options provide different ways of satisfying the Programme’s investment requirement.
The Economic Diversification Fund offers a contribution-based route supporting national development, while the real estate option allows applicants to acquire an interest in a Government-Approved Real Estate Project.
Before selecting a route, applicants should look beyond the minimum investment amount and consider the total cost, family composition, holding requirements and their objectives.
An Authorised Agent can explain the Programme requirements and applicable costs and guide applicants through the application process.
Prospective applicants can review the official Economic Diversification Fund and Government-Approved Real Estate information on the Dominica Citizenship by Investment Unit website before deciding how they wish to proceed.