Dominica has the oldest and most trusted “Economic citizenship by investment” program granting citizenship to by investing in real estate. Dominica has the cheapest real estate citizenship program in the world.To qualify for citizenship under real estate, one must buy a government approved real estate property of atleast USD 200,000 for each main applicant. Two or more applicants may apply for citizenship together by purchasing one piece of real estate, provided that each main applicant contributes the minimum investment of USD 200,000 towards the investment. The real estate can be sold after 3 years and citizenship is not lost after selling the property .
Dominica has a stable real estate market which is expect to grow by 2.8% by the end of this year. Property costs start from $200,000 to $500,000. The minimum real estate investment $200,000 qualifies for Dominica passport and citizenship. Foreigners can freely acquire upto 1 acre of land for residential and 3 acres for commercial purposes. Rental yields are around 4-5% but can go up as high as 7% in capital Roseau around Castle Comfort and Wall House areas during peak season. Calibishie and Woodford Hill are very popular places to buy a real estate in Dominica among foreigners.
Please note only government approved real estate projects qualify for citizenship of dominica. It is possible to buy a share in real estate project (hotel, resort) starting from 200,000 dollars
For example, to buy a share of real estate in Cabrits resort Kempinski luxury hotel, total costs will come around $322,500 for 2 (applicant and spouse). Kempinski hotel is due to be completed by 2018 with 160 rooms.
Property Ownership Steps
- Step 1. Sign initial reservation form and pay initial deposit 10% of the real estate price.
- Step 2: Initial application and required documents for citizenship through agent. You also have to pay due diligence fees ($7500). Investor will execute sale of purchase agreement.
- Step 3: After 3-4 months, approval letter is given by Government and within 7 days you are required to pay the balance for real estate and government fees.
- Step 4: The proof of ownership is handed over to Government and within 3-4 weeks you will be issued “citizenship certificate”.
- Step 5: Using “certificate of citizenship” apply for Dominica passport which takes about 1 week.
Government approved developments
The following are Government approved real estate projects currently under construction in Dominica.
- Jungle Bay Villas $200,000 onwards
- Tranquility Beach $200,000 onwards
- Secret Bay Residences $200,000 onwards
- Cabrits Resort Kempinski from USD 220,000
- Bois Cotlette Estate starts from $250,000
- Silver Beach Development $200,000 onwards
Government citizenship fees (real estate)
The Following Government Fees Are Applicable Under Real Estate For The Main Applicant And Any Accompanying Dependents:
- USD 50,000 For The Main Applicant
- USD 25,000 For The Spouse
- USD 20,000 For A Dependent Under The Age Of 18
- USD 50,000 For A Dependent Aged 18-25 Years