Also known as the Nature Island, Dominica is a country in the Eastern Caribbean, situated between the French islands of Guadeloupe and Martinique. Dominica real estate investments can be beneficial to a number of people for a number of reasons, such as allowing investors to qualify for the country’s Citizenship by Investment Program. This Caribbean island offers excellent opportunities for those who want to invest in property.
Ten Reasons to Buy Property in Dominica
- Prices can be more affordable than in many other Caribbean islands
- Provides a route to obtain a Dominica passport for you and your family
- Beautiful untouched island in the Caribbean
- Proximity with the US
- Sustainable island
- Low cost of living
- Incredible weather
- Relaxed pace of life
- Get the Dominica passport in three to four months
- No wealth, gift, inheritance, property, or capital gains taxes
Where to buy Dominica real estate?
If you are considering buying land or buildings in Dominica, you can buy it independently or through the Dominica Citizenship by Investment Program. To qualify for the investment program, you must purchase pre-approved property worth at least $200,000. The investment must be held for three years from the date your citizenship is granted and can only be resold under the same citizenship program after five years.
There are many properties approved by the government, offering you investment opportunities in the form of villas, hotels, luxury resorts, eco-lodges, and condos. Some of the most popular locations to purchase real estate in Dominica include Portsmouth, Soufriere, Salisbury, and around the capital Roseau.
Real Estate Market History and Overview
Dominica has been preserved from mass tourism, which is why the real estate market mainly comprises family villas and beautiful hotels amongst the lush rain forests of this nature island. Dominica’s beachfront is not massively developed, meaning you are able to buy land at lower prices than in the rest of the Caribbean islands.
If you are interested in acquiring property in Dominica, you can do it through Dominica’s Citizenship by Investment Program – which is a popular option if you are looking to get a second passport.
Government-authorized property projects offer different options, such as buying shares in hotels and luxury resorts. These sorts of commercial properties provide an incredible opportunity to own excellent rental return schemes without having to bother with property management. Investment properties tend to bring owners an average profit of between two and eight percent each year. Alternatively, you can explore the real estate listings by yourself and find your dream property for sale.
A quick glance at Dominica real estate listings will show that prices in Dominica vary according to the location but are surprisingly affordable in general. In general, prices can range between $500 and $5,000 per square meter, depending on the property type (e.g., family homes, villas, apartments), its size, its location, etc.
In order to qualify for the Dominica passport through the country’s CBI program, you must make an investment of at least $200,000 in real estate pre-approved by the government. Most of the property options are shares in high-end tourist accommodation. It is important to remember that prices in Dominica are significantly lower than in most of the other Caribbean islands due to the island’s preservation from mass tourism.
Finding the perfect real estate investment in Dominica can be a complicated process, and it is important to be aware of all the processes that may apply to your specific circumstances.
Our team of specialists at Global Citizen Solutions has almost a decade of experience when it comes to Citizenship by Investment in Dominica. Click here to get in touch and start building your personalized investment plan.
Here is what you will need to do:
- Look for properties through an authorized real estate agent, or by yourself, and find the one that interests you.
- Hire a lawyer and have them draft a Purchase and Sale contract. You’ll normally have to pay a 10 percent deposit for the property to be secured under your name.
- Get a certified surveyor to conduct the valuation and prepare documents for the title transfer – if titles can’t be transferred, your deposit will be refunded.
- Once approved, documents will be submitted by the lawyer to the Land Registry to register you as the new owner of the property.
Here are the fees that you will need to pay for real estate transactions:
- Legal fees: three percent (15 percent VAT might apply)
- Alien Landholding License (applicable for foreign buyers not under the CBI Program): ten percent
- Judicial fees: four percent
- Assurance Fund Fee: one percent
- Stamp Duty: four percent
- Valuation fees
Is it worth getting property in Dominica?
Famous for its beauty, relaxed lifestyle, and low cost of living, Dominica is certainly a place to consider if you are looking to invest in the Caribbean. As mentioned above, Dominica real estate is relatively cheaper than the rest of the Caribbean islands due to its preservation from mass tourism.
Purchasing property for sale in Dominica is a very good investment. Not only will you be able to provide for a viable and long-term investment for you and your family, but if you choose to make the investment under the island’s Citizenship by Investment Program, you and your family will be granted Dominica passports.
An advantage of making a real estate investment through the economic citizenship program is enjoying the benefits of being a Dominica passport holder, which includes increased global mobility and visa-free travel to more than 140 countries while enjoying a tropical paradise.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
To see the full list of reasons why to work with Global Citizen Solutions for your Caribbean citizenship application, click here.
Can foreigners buy property in Dominica?
Yes, foreign investors can buy properties in Dominica. To do so without going through the CBI Program, you must obtain an Alien Landholding License. If you are looking for properties, you can compare listings in order to find the best options available. But if you plan to build your perfect place, you can also look for land for sale.
How can I get Dominica citizenship?
You can get a Dominica passport through the Dominica Citizenship by Investment Program. Investments can be made through a minimum donation of $100,000 to the Economic Diversity Fund (EDF) or by purchasing real estate in the country worth a minimum of $200,000.
What are the property options?
Whether you are looking for a Dominica real estate investment or planning to relocate, you can find villas, family homes, apartments, hotels, and luxury resorts for sale at diverse prices. Whether you are looking for a residential or commercial property, you’ll find plenty of options available.
What are the best places to buy property for sale in Dominica?
Some of the best places to make a real estate investment in Dominica include Portsmouth, Soufriere, Salisbury, and around the capital Roseau.
Is real estate via citizenship by investment expensive?
In order to obtain the Dominica passport through the island’s Citizenship by Investment Program, you will need to buy shares in pre-approved property worth at least $200,000. Due to its preservation from mass tourism, local real estate is one of the cheapest in the Caribbean, making Dominica real estate citizenship a very attractive option.
How is life in Dominica?
As you can imagine, life in Dominica has a relaxed pace compared to places such as the UK or US. The weather is sunny all year round, and you can enjoy the world-class beaches and beautiful nature.
Can I rent out my property as a vacation rental in Dominica?
Yes, you can rent your Dominica property out as a vacation rental.