Looking for a second home? Somewhere sunny that’s far away from the hustle and bustle of your current life? Then you can’t go wrong with the beautiful Caribbean island of Dominica. Here are five reasons why it truly is the perfect second home.
1. The natural beauty
Also known as The Nature Island, Dominica is renowned for its breathtaking natural beauty. Not only is half the island covered in rainforest, including the mammoth UNESCO World Heritage site of Morne Trois Pitons National Park, but there’s also an abundance of mountains, volcanoes, hot springs and waterfalls to enjoy. For example, the 4,747 foot Morne Diablotins volcano, the 200 foot tall Trafalgar Falls and the 200 foot wide Boiling Lake hot spring (the world’s largest).
Dominica is home to a number of beaches too, including the aptly named Champagne Beach, which features warm, bubbling water, and an array of wildlife, from the Sisserou bird to iguanas. If you appreciate nature, living in Dominica is sure to be incredibly rewarding.
2. The weather
Another huge advantage of living in Dominica is that you get to enjoy all of these outdoor adventures in the beaming Caribbean sunshine. The island gets roughly 200 to 250 hours of sun a month, with temperatures averaging between 23 and 30°C in the summer and 21 and 28°C in the winter. For comparison, the UK gets as little as 50 hours of sun in the winter months, with 200 hours at most in a month between May and August. Plus, average temperatures range between 15 and 25 °C in the summer and a mere 0 and 7°C in the winter.
It’s important to mention that there is a rainy season in Dominica though, which lasts between August and October and can result in hurricanes and tropical storms. However, in part thanks to funding from Dominica’s Citizenship by Investment (CBI) programme, the island is better prepared than ever for these scenarios, and still enjoys plenty of sunshine and warm temperatures during this period.
3. The fun, laidback lifestyle
Although Dominica’s tourism industry is certainly on the up, the island hasn’t been completely infiltrated by outsiders in the same way other Carribean islands have. As a result, The Nature Island has a distinctly calm and tranquil quality that is usually hard to come by. Roam around at certain times of the year and it can even feel like you have the whole island to yourself.
In addition, Dominicans themselves are at the heart of the country’s laidback, fun feel. Each village and community has its own festival and carnivals, with street and beach parties being very common. Top of the billing is the renowned World Creole Music Festival, which features local, regional and international artists along with a massive carnival celebration.
4. Low cost of living
Compared to countries like the US and the UK, the cost of living in Dominica is incredibly low. For example, rent is 54.29% cheaper than it is in the US and 42.6% less than it is in the UK, while a typical meal in a restaurant costs over 70% less in Dominica than it does in the US, and is almost 74% cheaper compared to the UK.
The country’s currency (the Easter Caribbean Dollar) is pegged to the US dollar, so Dominica’s exchange rate is low and fixed at US$1 = EC$2.70. This makes it cheaper to export abroad, bolstering profitability at home and ensuring the cost of living remains stable.
5. The investment opportunities
Dominica’s economy has gone through a successful period of diversification in recent years, moving away from its reliance on agriculture and pivoting towards industries like tourism, financial services and green energy. As such, there’s lots of opportunities for investors in these up-and-coming sectors.
A particularly popular route is via Dominica’s CBI programme, which enables individuals to make substantial contributions to either Dominican real estate or a government fund. This allows people to gain Dominican citizenship in return for investing in the flourishing industries outlined above. For example, going into real estate enables investors to purchase hospitality properties used for tourism. Meanwhile, the government fund option helps support socio-economic projects driving national development, including green initiatives and technological advancements.
How to live in Dominica through its CBI programme
So there you have it. Five very convincing reasons to live in Dominica. And fortunately for you, it’s easier than ever to do so yourself. As touched upon, the country’s citizenship by investment programme allows you to gain citizenship of Dominica in return for an investment in real estate or a contribution to the country’s government fund. This will give you and your family members the right to live and work in Dominica, with the ability to come and go as you please. You just need to be over 18, in good health, and have no criminal record.
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Once you’ve made the chosen investment payment and gone through the programme’s due diligence checks, you’ll receive your Dominican citizenship and all the rights this confers. As well as being able to reside there, you’ll be entitled to many other benefits, including greater global mobility and minimal taxation. If this sounds like the right move for you, get in contact today to get the wheels in motion and start the journey to making Dominica your second home.