Dominica, a picturesque island nation in the Caribbean, offers a unique and attractive opportunity for individuals seeking to acquire second citizenship.
Established in 1993, the Dominica Citizenship by Investment (CBI) program allows eligible applicants and their families to obtain citizenship by making a significant financial contribution to the country's economic growth. With a simplified and efficient application process, this program has gained popularity among investors worldwide.
Recently, there were changes to this popular CBI program. Therefore, the purpose of this article is to bring you up to date with recent developments, so you can stay informed about the potential impact these changes can have on your application.
On July 19, the UK’s House of Commons published a Statement of Changes in Immigration Rules that will now require a travel visa for citizens of Dominica and Vanuatu wishing to visit the UK. While this may initially seem like a shift in travel requirements, it actually paves the way for a more streamlined and efficient process known as Electronic Travel Authorization (ETA).
ETA allows individuals to enter and stay in the country using a simple electronic document. Gone are the days of lengthy paperwork; instead, travelers can effortlessly fill out an online form with their name, passport details, and purpose of travel.
This change extends beyond Dominica and Vanuatu, as all 79 countries that previously enjoyed visa-free access to the UK will be brought into the ETA system starting from November 2023. By the end of 2024, the ETA will include all the previous visa-free countries, including prominent nations like the US, Canada, and EU members.
In addition, these changes were brought to protect the integrity of the Dominica CBI program, so that it can continue to accept suitable candidates. The authorities understand that the visa requirements may inconvenience some Dominican citizens who frequently travel to the UK for various purposes. However, it's important to note that Dominicans remain welcome in the United Kingdom despite these measures.
Furthermore, Dominica remains steadfast in its commitment to strengthen its CBI program, as evidenced by several positive developments. For instance, by March 2024, all Dominicans, without exception, will have the opportunity to move freely among the member nations of CARICOM (Caribbean Community). This progress will undoubtedly make the vibrant Caribbean region an even more welcoming home for everyone, offering the freedom to live, work, and enjoy life to the fullest.
In July 2023, Dominica Citizenship by Investment Unit (CIU) issued a letter advising the following:
The increase in due diligence fees for the Republic of Iran comes from a recent status change for Iranian applicants. Iranian citizens are now considered a specified country/region; thus, they are subjected to enhanced due diligence procedures that come at a higher cost.
Here’s what a new fee schedule for Iranian applicants looks like under the EDF contribution option:
|
|
|
|
|
Contribution Amount - family of 4 |
$175,000 |
$175,000 |
|
Processing Fees |
$1,000 |
$1,000 |
|
Due Diligence Fees for the Main Applicant |
$7,500 |
$25,000 |
|
Due Diligence Fees for the Spouse and Two Children |
$12,000 |
$45,000 |
|
Certificate of Naturalization Fees |
$1,000 |
$1,000 |
|
Expedited Passport Issuance Fees |
$4,800 |
$4,800 |
|
Total |
$201,300 |
$251,800 |
Lastly, it’s important to emphasize that Dominica CBI remains one of the most affordable programs for single applicants. The minimum investment amount required for this program is just $100,000. This amount is significantly lower than many other CBI programs worldwide, making it accessible to a broader range of individuals seeking second citizenship.
Therefore, if you’re looking for second citizenship with great value for your investment, Dominica CBI is your safe bet.
Beyond affordability, obtaining Dominican citizenship opens up a world of benefits. A Dominican passport provides visa-free or visa-on-arrival access to numerous countries, easing international travel for business or leisure purposes. Furthermore, the country's stable political climate and attractive tax regime make it an appealing destination for investors and entrepreneurs alike.
Furthermore, the Dominica CBI program offers a fast and efficient processing time, meaning applicants can secure their second citizenship relatively quickly. Additionally, applicants are not required to undergo language proficiency tests, saving them both time and money.
To sum up, the recent adjustments in UK travel visa requirements present a positive shift towards the ETA system, benefiting travelers from Dominica and Vanuatu and ultimately safeguarding the integrity of Dominica's CBI program.
As developments continue to unfold, it is crucial to stay informed, and we are here to provide you with the latest information. For more details and any queries you may have, don't hesitate to reach out to us today!