Dominica Government has made important changes to the citizenship by investment regulations which comes into effect immediately Jun 8, 2024. Here are the quick summary of the important changes.
EDF Contribution (Donation)
The minimum investment has been increased from $100,000 to $200,000 under the new CBI regulations 2024.
The Economic Diversification Fund (EDF) is a Dominican Government programme supporting socio-economic initiatives with the aim of driving national development. This was established through the country’s Citizenship by Investment Programme, as one component of a national capital mobilisation portfolio. Applicants can acquire economic citizenship to Dominica by making a financial contribution to its EDF. To qualify for Dominican citizenship through the Citizenship by Investment Programme, applicants must make a non-refundable contribution to the EDF.
- US$200,000 for the main applicant;
- US$250,000 for the main applicant and up to three qualifying dependants;
- US$25,000 for any additional dependant under the age of eighteen;
- US$40,000 for any additional dependant eighteen years of age or older;
Additional fee
Interview fee – $1000
Due diligence fee – $7500 (16 yrs plus) or $4000 (below 16 yrs)
Processing fee – $1000
Naturalisation fee – $5000
Change of Name
The change of name is prohibited for investors, subject to the condition that the holder of the certificate of naturalisation shall not, before a period of at least five years have elapsed from the date of grant of certificate of naturalisation, change or seek to change his or her name otherwise than by marriage.
Denial of Citizenship
Applications for citizenship by investment shall be rejected if:
- has a criminal record other than in respect to a minor offence;
- is the subject of a criminal investigation of which he or she was aware or ought to have been aware and failed to disclose;
- has been denied citizenship in any other country;
- has been denied a visa to the European Union or United Kingdom;
- has been denied a visa to a country with which Dominica has visa-free travel and has not subsequently obtained a visa to, or residence permit for that country;
- is deemed a potential security risk to Dominica or to any other country; or
- has provided information which is false in any material respect on his or her application form;
- is or has been involved in activity likely to bring disrepute to Dominica;
Deprivation of Citizenship
The Law now has provisions to revoke citizenship, already granted under the investment program, if found to have
- has a criminal record or is the subject of a criminal investigation may be approved for citizenship where the offence which is the subject of the criminal record is a minor offence or the investigation is into a minor offence.
- A person who within five years of having been issued a certificate of naturalisation changes or seeks to change his or her name otherwise than by marriage may be deprived of Citizenship of Dominica pursuant to section 10(2) or (3) of the Act.
- A person who has after becoming naturalised been sentenced in any country to imprisonment for a term of not less than 12 months shall be deprived of citizenship of Dominica
A person is deprived of his citizenship in accordance with subregulation (1) no refund shall be made of any fees, investments or other sums paid by or on behalf of that person.
Real Estate
The minimum real estate investment threshold is set at USD 200,000 (no change from old prices), eligible for citizenship for investment only in government approved properties. Note the government fees has been hiked under new rules in 2024.
The following government fees also apply:
- US$75,000 for the main applicant;
- US$100,000 for the main applicant and up to three dependants;
- US$25,000 for each additional dependant under the age of 18;
- US$40,000 for each additional qualified dependant aged 18 years of age or older.
Real estate that has been purchased that qualifies an applicant for citizenship under the Citizenship by Investment Programme shall not be resold unless a period of at least three years has elapsed from the grant of citizenship in respect of that purchase.
Decision on Application
Within three months of the submission of an application for Citizenship by Investment the Unit shall notify the Authorised Agent on behalf of the main applicant whether the application has been –
- approved in principle;
- delayed for cause and is still being processed; or
- denied
Financial Intelligence Unit
The Government has established a new authority Financial Intelligence Unit (FIU) to protect the integrity of CBI program and efficient vetting of candidates. All background and due diligence checks shall be commissioned by the Financial Intelligence Unit which shall engage one or more approved due diligence agencies to conduct these checks in accordance with the regulatory requirements.
The Financial Intelligence Unit shall –
- Review and process all applications for citizenship made in accordance with Regulations;
- ensure that all due diligence background checks are comprehensive and completed throughout the application process, including compliance with the mandatory interview requirements; and
- ensure sufficient information is provided to justify any recommendation to the Minister concerning an application or applicant.
- Conduct an interview with the applicant (virtual or person)
Post Citizenship Additions
Approved citizens, may now add spouse, child and dependent for citizenship, paying additional fee subjected to following conditions
- Child – Child must be under eighteen years of age born to or adopted by the main applicant not more than five years after the main applicant obtained citizenship. $2000 processing fee plus due diligence fee if applicable (see below).
- Spouse – spouse to whom that person was not married at the time the original application was made. $75,000 processing fee plus other fees
- Dependant – dependant who did not form part of that person’s original application and who was a dependant at the time the original application was made. $50,000 plus additional fees
