Second passport? The cost of this one will go up starting August 1
Fees for getting a passport through the Dominica CIP will increase for individuals and families wishing to apply for citizenship
If you’ve been thinking of getting a second passport, one of the countries that offers this facility is hiking up the price.
The cost of Dominica citizenship fees is set to increase starting 1st of August. This will impact all applicants who were planning to get a second passport of this country through investment programmes.
The donation amount to participate in the Government Fund for the Dominica Citizenship by Investment Programme (CIP) will increase for individuals and families wishing to apply for citizenship via the government fund investment route, confirmed the government.
The new price structure will be as follows:
$175,000 for a single applicant (currently $100,000)
$225,000 for an applicant and spouse (currently $175,000)
$225,000 for an applicant and up to two children below 18 years (currently $200,000)
$250,000 for applicant, spouse, and up to two children below 18 years (currently $200,000, plus $50,000 per additional dependent) and
$50,000 for any additional dependent (this remains the same).
As a citizen of Dominica, you have the advantage of international mobility. Currently, passport holders can use their citizenship for visa-free travel to over 90 countries, including to the United Kingdom, Singapore, Hong Kong and Ireland. Dominica will shortly also be able to offer visa-free travel to the European Schengen states.
There is minimal taxation – no wealth, gift, inheritance, foreign income or capital gains tax in the country. The successful applicants get full residence status, with the right to live and work in Dominica and there is no requirement to reside in Dominica before or after citizenship is granted. The country permits dual citizenship.
The Citizenship by Investment Programme allows foreign investors to obtain full legal citizenship and passports for an investor and their family where the investor has made a significant investment in Dominica which qualifies under the Citizenship by Investment Regulations.
Currently, the qualifying investments are a contribution to the Government Fund of a minimum amount of $100,000 or the purchase of a property to the value of $200,000.
Posted: 27 June 2016