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Commonwealth of Dominica

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Dominica is a small Caribbean island nation, nestled between Martinique and Guadeloupe. Though most people know about its glorious beaches and hot climate, there’s a lot more to the country to be discovered. To help you learn more about it, we’ve compiled the most fundamental facts about Dominica.For starters, if you find yourself enamoured with the island, you may consider becoming a citizen. Dominica’scitizenship by investment programmewas introduced in 1993 and is one of the world’s longest-running economic citizenship schemes.Once investors obtain their Dominican passport, they and their families are welcome to move, work and even set up a business on this stunning Caribbean paradise. But that’s justoneof thebenefits of the CBI programme.All applicants need to do is choose fromtwo investment options, and make the required financial contribution to the country. With a minimum investment of $100,000 USD, it is the cheapest citizenship by investment programme in the world. Citizenship by Investment and Dual Citizenship BenefitsApplying forcitizenship by investment in Dominicahas become increasingly popular in the last few years, and this should come as no surprise. There are numerous benefits to dual citizenship, with Dominica being a particularly appealing place to hold a second passport. The country offers a wealth of new opportunities and experiences, including:Full residence status —including working rightsJoining a global community that transcends Dominica’s land bordersGlobal mobility, including visa-free travel to over 140 territories, from Singapore and Hong Kong to the European Union and the United KingdomMinimal taxation, with no wealth, gift, inheritance, foreign income, or capital gainstaxThe ability to hold multiple citizenshipsKnowing that you have personally contributed to the prosperity of a peaceful, welcoming country, which you can call home for life. Business Benefits of Dual Citizenship in DominicaThe Government of Dominica offers various fiscal incentives for entrepreneurs who wish to claim citizenship by investment to the country. These include generous tax holidays, import duty and tax waivers, and streamlined processes.Minimal taxation –no wealth, gift, inheritance, foreign income, or capital gains tax, and no personal income tax for residentsDominica is a signatory of double taxation treaties with the USA and the CARICOMNo restriction on repatriation of profits and imported capitalGreat incentive packages including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowanceDominica’s currency, the East Caribbean dollar (XCD), is pegged to the US dollar (USD) at a fixed rateDuty-free access to several markets across the Caribbean

2021-05-15 22:34:27

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