Dominican Republic is tax-friendly, with an excellent education system and a low crime rate. Its favorable tax policies make it an excellent choice for investment and retirement, and its citizenship is lifelong and can be passed on to your children. You can apply for a Dominica passport by investment from anywhere in the world. The Dominica Citizenship by Investment unit will only approve applicants with clean health and background checks.
If you are interested in acquiring second citizenship in a country with a growing economy, consider the citizenship by investment program in the Dominican Republic. This type of citizenship program benefits both the applicant and the country. The funds generated through the program help finance critical infrastructure and healthcare initiatives for
Exemption from paying tax:
If you’re considering acquiring citizenship in Dominica, you should be aware of this country’s many benefits. First, a Dominican citizen can enjoy tax-free global income, wealth, inheritance, and capital gains. There’s also no income tax in the Dominican Republic. The only tax a citizen has to pay when they stay on the island longer than 183 days is on capital gains earned abroad.
A special government agency administers Dominica’s Citizenship by Investment program to the Department of Finance. This unit oversees the processing of economic citizenship applications and enforces regulations for the program. It also markets the program internationally and has senior examiners to help investors complete their applications.
If you’re interested in Dominica citizenship by investment, you’ll be happy to know that processing times are fast. A decision can be made about your application in two to six months, depending on your circumstances. Once your application is approved, you’ll receive an official letter from the government of Dominica. Afterwards, you’ll need to fulfil the citizenship conditions – obtaining a passport and a naturalization certificate – within 30 days.
Dominica’s government offers two options for Dominica citizenship by investment. One option involves investing in real estate. This option has relatively low investment requirements, with a minimal investment of only $100,000. In contrast, other citizenship-by-investment countries require a minimum investment of $400,000 to qualify for citizenship.