Dominica: real estate on the islands

The Republic of Dominica is an island nation in the western Caribbean. The country attracts foreigners not only with its pristine nature and beaches with white sand. The Dominica government implements a business migration program and grants citizenship to financially independent individuals.
To obtain a second passport, the applicant needs to make a non-refundable transfer to a government fund account or purchase property on the island. The second option is becoming more and more popular, since it involves a return on investment in a few years and promises a profit in the future.

Briefly about the investment property market in Dominica


The government of Dominica has taken a course towards preserving the natural resources of the island and systematic economic growth. The development of green tourism and wellness recreation allows these two polar positions to be combined. Unlike other states in the region, Dominica does not have huge hotel complexes or amusement parks that are striking in scale.
Luxurious villas with all conveniences, eco-hotels with cottages, swimming pools and SPA, cozy resort complexes with premium apartments are being built on the island. In the list of the most original housing in Dominica, it should be noted:

• Eco-friendly hotel close to Morne-Trois-Pitons National Park. Seven dozen comfortable cottages are scattered throughout the rainforest.
• Boutique hotel with tree villas. The houses are stylized as laconic buildings hidden in branchy crowns.
• A hotel with an art center in Cabrits National Park.

To make the state investment program interesting for investors, applicants for citizenship can buy shares in these projects. In 2021, the government of Dominica selected eight complexes for participation in the program for issuing economic passports, checked the documents of developers and acts as a guarantor of the transparency and legality of the transaction.
Officials are constantly updating real estate investment options, encouraging even development of all parishes (areas) on the island. The minimum investment amount is USD 200 thousand. It is allowed to sell the property after 3 years, the return on investment will not lead to the loss of citizenship.
Costs of obtaining Dominica citizenship through real estate
The purchase of real estate worth at least 200 thousand USD allows obtaining citizenship by investment not only for the main applicant, but also for his relatives. Additionally you need to pay:

• state fee - 25 thousand US dollars;
• due diligence - USD 7.5 thousand;
• processing an application - USD 1,000.
• 1% of the transaction amount to the insurance fund;
• 3% of the transaction amount for legal support;
• 2.5% legal fee.

You can order an individual calculation of the cost of participation in the business migration program in a specialized licensed agency.
Benefits of an economic passport of Dominica
An investor who has received citizenship under the business migration program can visit 143 countries of the world without a visa (data from The Henley Passport Index: Q1 2021 Global Ranking). Within 14 days, the holder of a Dominica passport will issue a long-term US tourist visa.
Migrants from Russia can freely open accounts in European banks, which is very important in the context of sanctions. On the second passport, it is allowed to register movable and immovable property, in detail about the full list of advantages of investment citizenship.
Dominica's villas, cottages and apartments are considered liquid assets. The developer manages the investor's housing, the profitability of some objects is estimated at 3% per annum.