Caribbean news. LONDON, England – Dominica (or the “Nature Island” as it is widely known), in the Eastern Caribbean, is accepted as one of the best places to live. With its untouched natural beauty, this peaceful, tropical country offers a citizenship by investment program which invites investors and their family members to obtain full, legal citizenship through a recognized investment.
The Dominica Citizenship by Investment Programme was established in 1993. After many years of success, the Government has enhanced the program, which will make it more attractive globally. The Prime Minister announced on 21 October 2014, significant changes to the legislation, which will see the program revised, expanded and improved. The program now facilitates investments in real estate and investors who make a minimum investment of USD 200,000 in an approved real estate project, may now qualify for citizenship. The Government Fund option, which supports the national development of the country, continues to be available, starting with a contribution of USD 100,000 for a single applicant.
The legislative and administrative changes have resulted in a more streamlined Citizenship by Investment Unit (CBIU), the Government authority which deals with all matters regarding Citizenship by Investment in Dominica. Importantly, the Government have strengthened the due diligence process, and the mandatory requirement for an interview has been removed from the process, reserving it only for special circumstances where deemed necessary.
The introduction of a streamlined CBIU will enhance the credibility of the program and provide more structure and reliability, particularly with the introduction of the Real Estate option to investment while the fast processing times will only make the program more attractive to potential applicants. The Government is determined that the integrity of the program is protected and that maintaining the solid reputation of the country will be paramount in all of their efforts.
The benefits of Dominican citizenship are numerous and provide investors with advantages, including lifelong citizenship of a country that is peaceful and recognises the rule of law. There is no Capital Gains, Estate, or Death Taxes in Dominica and there are no restrictions on the repatriation of profits, or restrictions on foreign exchange.
Whether you are seeking second citizenship or are looking for an attractive investment opportunity, Dominica provides incentives to investors to facilitate private sector investments in an effort to generate growth and drive economic activity that is both meaningful and sustainable.
As the interest in alternative citizenship and second nationality grows globally, Dominica remains a notable frontrunner with their trusted, reputable and popular Citizenship Programme, and offers ample investment opportunities to make this beautiful country an alluring alternative and a safe and reliable home. Article courtesy http://www.eturbonews.com
