Step foot onto the enchanting gem that is Dominica, aptly known as The Nature Island, rising gracefully from the sparkling waters of the Caribbean. It’s a peaceful place where both adventurous folks and tired travelers find comfort in a world that feels untouched by time. Hidden like a secret in the Caribbean, this lush haven has stunning rainforests, big mountains, winding rivers, beautiful waterfalls, and fascinating volcanoes. Hardly will you find a spot in the world that would feel as perfect for you to refresh both mind and body. As preconceived as this conclusion may seem, it is likely the best island to live in the Caribbean.
Dominica sits in the middle of the Eastern Caribbean islands, between Martinique and Guadeloupe. It’s officially called the Commonwealth of Dominica, a name that reflects its special status. No matter, if you’re up for an exciting hike through rugged terrain, a thrilling dive into the unknown, or simply want to relax on a porch surrounded by birdsong and rustling leaves, Dominica and its warm-hearted people welcome you with open arms. Enjoy the promise of refreshing days and peaceful nights as you embark on an unforgettable journey through this extraordinary island paradise.
Dominica’s diverse economy: from bananas to offshore finance and ecotourism
Dominica’s economy depends a lot on farming, especially bananas, but it’s also getting hefty sums of money from financial services and passport sales.
Because the island has lots of volcanoes and not many beaches, tourism has been slower compared to nearby islands. Even though, with its amazing tall mountains, thick forests, calm lakes, hot springs, stunning waterfalls, and great places for diving, Dominica is a nice place to visit. Cruise ships have been coming more often now because the country’s capital has modern places that are equipped for them to dock. People also like ecotourism here, which means doing things like hiking, watching birds, going through canyons, and kayaking. Dominica is often called the Nature Isle of the Caribbean because it has so many outdoor adventures to offer.
COVID-19 has caused some issues, and big tourism events were stopped in mid-2020, which hurt the local tourism industry.
Recently, Dominica has become an important place for international banking and other financial services. The main financial activities are offshore banking, payment processing, and general business.
Dominica wants to grow its financial sector, so it’s been encouraging more offshore financial services. Not too many offshore banks and international businesses have registered here yet, but the government is trying to make it easier and cheaper for them to do so. You can even create an International Business Company (IBC) in Dominica online. The government has also issued licenses to some Internet gambling companies.
Investing in Dominica’s future: a booming citizenship program
Dominica boasts an esteemed and highly respected citizenship by investment program, which has successfully attracted foreign capital, resulting in significant benefits for the Caribbean nation. The inflow of funds has spurred advancements in agriculture, considerable developments in ecotourism, and progress in the industrial sector. Utilizing the profits generated through the program, the country has made strides in constructing new schools, hospitals, and infrastructure, thus contributing to overall national development.
Individuals aged 18 years or older have the opportunity to apply for Dominica’s economic citizenship using either of the 2 distinct options. One way is by contributing USD 100,000 (or an equivalent amount in GBP or EUR) to the Economic Diversification Fund, with additional fees for group applications. Alternatively, you can invest in approved properties, with a minimum investment of USD 200,000.
The government warmly welcomes foreign investors. The money they bring to the local economy will help the country grow in a way that lasts and creates jobs for the people who live there.
One important thing about this program is that everything is kept private. Information about foreign investors isn’t shared with their old countries or anyone else, except for the Dominica Citizenship by Investment Unit and special detective agencies that do background checks, as the Caribbean authorities require.
With the successful Dominica Citizenship by Investment program, you will step into the world of opportunity. This prestigious initiative grants approved applicants the privilege of calling a magnificent exotic country their home. As beneficiaries of the program, they have every right to live and work in Dominica, just like native citizens, and it is a truly welcoming and inclusive experience.
Carrying a Dominica passport in your pocket opens doors to boundless travel opportunities across the globe. Imagine that you can explore approximately 140 countries, states, and territories without the need for a visa. Additionally, electronic visas or visa-on-arrival options are available for added convenience. Among the above destinations are places like China, Great Britain, and Schengen states. What is more, you may be sure that all your journeys as a citizen of Dominica will be hassle-free and seamless.
For those who choose to become tax residents and establish permanent residency in Dominica, the financial benefits are enticing. While personal income tax applies to global income, Dominica stands out with its absence of inheritance, gift, wealth, or capital gain taxes. Tax residents only need to pay personal income tax on earnings generated within the country.
The Dominica CBI program offers an alluring bonus. We are referring to a second passport from a neutral Caribbean state. This invaluable option replaces a potentially restrictive home country passport, providing newfound freedom when dealing with banks and government officials worldwide.
Are you intrigued by the Dominica citizenship by investment program or already considering applying for economic citizenship in the country? If so, you are welcome to benefit from the expert guidance of International Wealth industry professionals. They are well-equipped to address any questions or concerns you may have, helping you embark on a journey to a brand-new life abroad, asset diversification, or achieving your unique goals. Let their expertise be your guiding light toward a brighter future.
