The Commonwealth of Dominica Citizenship by Investment Regulations (the 2024 Regulations) were gazetted on 28 June 2024 and came into effect immediately with new price structure raising the minimum investments, as per the memorandum of understanding signed by five OECS CIP nations in 2024. The 2024 Regulations repeal the existing regulations and amendments.
The 2024 Regulations set out the minimum investment amounts, define key terms, specify the eligibility criteria for main applicants and their dependants, detail instances where citizenship applications can be denied or citizenship revoked and detail the roles and responsibilities of Authorised Agents and Licenced Promoters.
Economic Diversification Fund (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;
Real Estate
- Minimum USD 200,000 real estate investment
Government Fee (Real estate only)
- $75,000 United States dollars for the main applicant;
- $100,000 United States dollars for a main applicant and up to three dependants;
- $25,000 United States dollars for any additional dependant under the age of eighteen;
- $40,000 United States dollars for any additional qualified dependant eighteen years of
age or older; - $7500 United States dollars for due diligence background checks on the main
applicant; and - $4000 for due diligence background checks on each dependant sixteen years of age or older; and
- $1000 interview fee per interview;
Eligible Family Dependents
The following rules apply for family applications to include dependents.
(a) a spouse of the main applicant;
(b) a child under eighteen years of age of the main applicant or the spouse of the main applicant;
(c) a child of the main applicant or the spouse of the main applicant between eighteen and thirty years who is in attendance at a recognised institution of higher learning and fully supported by the main applicant or the spouse of the main applicant;
(d) an unmarried daughter of the main applicant or the spouse of the main applicant who is under twenty-five years of age and is living with and fully supported by the main applicant or the spouse of the main applicant;
(e) a child of the main applicant or the spouse of the main applicant who is eighteen years of age or older and physically or mentally challenged and who is fully supported by the main applicant or the spouse of the main applicant;
(f) parents or grandparents of the main applicant or the spouse of the main applicant above the age of sixty-five years who are substantially supported by the main applicant or the spouse of the main applicant;
Key Changes
The key changes are as follows:
1. Increases in Minimum Investments for Economic Diversification Fund Direct Investment
One of the significant revisions in the Dominica CBI Regulations 2024 pertains to the minimum investments required for the Economic Diversification Fund (EDF) investment option direct investment. These adjustments seek to bolster the economic impact of investments and align with the evolving financial landscape.
The New Minimum Contribution Threshold for the Dominica Citizenship by Investment Programme are as follows:
Economic Diversification Fund (EDF)
Main Applicant: US$200,000
Click here for more information on the EDF CBI Investment Option
2. Changes to Government Fees for Real Estate Investments
In response to market dynamics and stakeholder feedback, the government fees for real estate government fees have been revised in the updated regulations.
1. Real Estate Investments
The minimum real estate investment remains at US$200,000
Click here for more information on the Real Estate CBI Investment Option
2. New Government Fees effective 1 July 2024:
Single Applicant: US$75,000
Family of four: US$100,000
3. Introduction of Responsibilities of Financial Intelligence Unit
To fortify anti-money laundering and counter-terrorism financing measures within the CBI Programme, the 2024 regulations introduce explicit responsibilities for the Financial Intelligence Unit (FIU). This strategic move underscores Dominica’s commitment to upholding international standards of transparency and security.
4. Explicit Change of Name Prohibition
An essential change in the updated regulations is the explicit prohibition on changing names for applicants seeking citizenship through the CBI Programme. This measure enhances the Programme’s integrity and ensures consistency in identity verification processes, safeguarding against potential misuse or fraud. These key changes in the Dominica CBI Regulations 2024 symbolise the government’s proactive approach to enhancing the Programme’s governance, compliance, and investor protection mechanisms. By embracing these updates, Dominica reaffirms its commitment to fostering a robust and reputable Citizenship by Investment environment, setting a benchmark for excellence in the global CBI landscape.
Post Citizenship Additions
Child – A main applicant who obtained citizenship through the Programme may apply to register as a naturalised citizen of the Commonwealth of Dominica a child under eighteen years of age born to or adopted by the main applicant not more than five years after the main applicant obtained citizenship. Processing fee $2000 apply.
Spouse – A person who obtained citizenship through the Programme may make an application with respect to a spouse to whom that person was not married when the application is made. Addition fee $75,000 (DD fee applies post one year of original application)
Dependents – A person who applied for citizenship by investment as a main applicant and obtained citizenship through the Programme may make an application in respect to a dependant who did not
form part of that person’s original application and who was a dependant at the time the original application was made. A fee of US$ 50,000 applies per dependent (DD fee applies post one year addition)
