This post will explain why the Dominica real estate option is the best second citizenship investment in the world. To qualify for the Dominica passport program, applicants must provide a police certificate, pass a medical exam and have access to a legitimate source of funds. Additionally, you must invest in the local economy of Dominica using one of two options.
The government contribution is nonrefundable and provides no return on investment. The second option is to make a minimum investment of $200,000 in qualified Dominica real estate.
By purchasing Dominica real estate, applicants will contribute to the local economy of Dominica and also receive a new passport within 2-3 months. In return, Dominica citizenship ensures applicants obtain safe global access and a lifetime of financial freedom.
However, using the real estate option provides many additional benefits, not only the opportunity to receive a new passport.
What Are The Dominica Real Estate Benefits?
- Tax Residency in Caribbean Paradise ~ An investment in Dominica real estate provides you with a street address in Dominica. This is the foundation for tax residency.
- 4-5% Investment Yield ~ Profit sharing agreements with the resort allows investors to obtain a 4-5% investment yield. A local income source strengthens your tax residency claim.
- New Intercontinental Airport ~ Dominica’s new airport is slated for completion in 2025. As a result, direct flights to the US will increase plus the airport will facilitate direct flights to Europe and Dubai. This brings additional tourist revenue which increases your investment yield.
- Strong Political Support ~ Local support for Dominica’s citizenship program is strong because it provides funding for medical clinics, social housing programs, school facilities and infrastructure. This ensures the longevity of the Dominica citizenship program which benefits the Dominica real estate market.
- Real Estate Backed by Citizenship Program ~ Government approved Dominica real estate is backed by the Dominica citizenship program. Therefore, investors receive citizenship in addition to a valuable real estate asset.
- Sell the Property ~ After 3 years you can sell the property. After 5 years you can sell to a new citizenship applicant. This allows you to recoup your investment funds while retaining Dominica citizenship in perpetuity.
- Strong Government Oversight ~ The Dominica government has authorized only 9 real estate developments that qualify for the citizenship program. Conservative oversight keeps supply and demand in balance.
- Unique Ecotourism Attraction ~ Dominica’s ecotourism appeal is a tropical paradise with unique attractions. This includes over 1,200 plant species, a resident population of sperm whales and the endemic Sisserou Parrot. Additionally, the geology of Dominica creates unique adventures such as waterfalls, deep canyons, boiling lakes and underwater caverns.
Does Dominica Real Estate Include Tax Residency?
Most clients inquiring about Caribbean citizenship are seeking tax haven status. Rest assured that ownership of Dominica real estate will provide you with the necessary credentials to establish tax residency. Indeed, you already have the passport. In addition, you have become a land owner in a Caribbean tax haven country.
As a citizen land owner you can get the tax benefits without even residing in the Caribbean! This is especially useful to business executives who are seeking Caribbean tax residency. Since it is not necessary for them to reside in the Caribbean, they choose to reside closer to global financial centers.
Of paramount importance to establish tax residency is that ownership of Dominica real estate gives you a legit local address. The street address used in combination with your Dominica passport will establish a strong nexus to the country.
Additional measures to strengthen your tax residency claim include a local driver’s license, tax identification number (TIN) and local SIM card/phone bills. We can assist you to acquire these items remotely without traveling to Dominica.
Dominica street address, Dominica passport, driver’s license, TIN and SIM card/phone bills establish a strong nexus to Dominica.
How Do I Establish Dominica Tax Residency?
When you open bank accounts overseas, apply for residency permits, rental agreements or enter business contracts be sure to use your Dominica passport for identification. In addition, enter your Dominica street address for your home country address and your Dominica TIN number as your tax ID. As a result, you can establish an unequivocal claim to Dominica tax residency without actually living there.
This allows you to reside in a country of your choice and be free of all income tax. Therefore, your country of residence could be another Caribbean tax haven. For example, Dominica citizenship benefits include the right to live and work in any CARICOM or OECS member state such as St Kitts and Nevis, Belize, Grenada, Saint Lucia or Antigua.
Alternatively, you can choose to live in tax free jurisdictions worldwide such as Singapore, Vanuatu, Malaysia or even European countries such as Portugal. This is all possible by purchasing Dominica real estate and obtaining Dominica citizenship.
How To Buy The Best Dominica Real Estate
The Dominica citizenship by investment program offers two types of real estate ownership. The choice is between share ownership in a real estate trust structure or a deeded real estate option such as Jungle Bay Eco Villas, Dominica.
Which ownership structure should you choose? That depends on your personal circumstances and objectives. The first point of consideration is that Dominica real estate options (approved under the citizenship program) are integrated with Dominica’s tourism industry e.g. hotels and resorts. Therefore, your property will be professionally managed on your behalf to accommodate short stay tourists.
This restricts your use of the property. For example, you cannot reside at the property year round, mortgage the property or exclude others from using it. Therefore, it is a give and take scenario which requires a careful comparison between trust ownership and the deeded real estate option. Indeed, for traditional real estate investors, things are not as they seem.
Wise Investors Prefer To Buy Deeded Property
Deeded real estate gives the buyer title to the land in addition to the improvements on the land e.g. villa. Additionally, the investors name will be published in the Dominica land registry. As a result, you will have a government reference to show the tax authorities in your country of residence. This will solidify your claim to Caribbean tax residency.
But that is not the only additional security that deeded property ownership brings. For example, investors also have the opportunity to participate in profit sharing agreements with real estate developments such as Jungle Bay, Dominica.
This gives you an income source from your country of tax residency. Plus, you can obtain a 4-5% return on your investment during the holding period.
The sale proceeds, investment yield and the steep reduction in your income tax bill can quickly reduce the real cost of your Dominica citizenship to zero. Indeed, your could even show an overall profit while retaining citizenship in perpetuity.
Payment Schedule for the Dominica Citizenship program
- First is the $10,000 commitment payment which goes to my company account in Singapore. In addition, the client agreement is signed by the main applicant. A scanned copy is returned to me and we begin work immediately preparing the application package for submission to the CBIU within a 30 day time period.
- Second, the 10% down payment, government processing fee, due diligence fees and bank/courier fees are collected. The villa down payment is refundable in the unlikely event that the application is denied by the government
- Third, the final installment is due after the letter of acceptance is received from the Dominica government. This includes certificate of naturalization fees, passport application fees, the government contribution and also the remaining balance of the villa investment.
My partners and I have a combined 35+ years of experience working with the Caribbean citizenship by investment programs plus Vanuatu. Therefore, rest assured you will accomplish your objective of Caribbean tax residency. Additionally, we will accomplish your goal with expediency, at the lowest possible cost.