If you are thinking of investing abroad, Dominica is definitely a great option. Famous for being a tax free haven, for its incredible natural resources, eco-friendly tourist industry and its growing manufacturing sector, Dominica has a lot to offer for prospective investors. This article presents you with Dominica’s best investment opportunities.
Rules of investment in Dominica
Established in 1993 by the Dominica government, the Dominica Citizenship by Investment program legally offers individuals and families the Dominica citizenship and passport, with no visit in the country required.
The investor program is defined in law by the section 101 of the Dominica Constitution and Section 8 and Amendment 20(1) of the Citizenship Act. Provided specific investments are made, eligible individuals are granted instant citizenship in the country by a Certificate of Naturalization.
Note that the Commonwealth of Dominica Citizenship by Investment Regulations are subject to updates. We recommend regularly checking the government’s website.
Tax exemptions for expats in Dominica
Dominica is a tax haven for both individuals and corporations. Dominica doesn’t impose any global, wealth, and inheritance taxes, and no capital gain taxes on income earned from abroad.
If you decide not to reside in Dominica during your citizenship by investment, you won’t have to pay taxes. If you choose to stay in Dominica for more than 183 days in a calendar year, taxes on worldwide income are required.
In addition, Dominica has double taxation treaties with the US and CARICOM. Meaning, there are no restrictions on the repatriation of profits or imported capital. There are also several corporate tax incentives: a full waiver from import duties, as well as tax relief benefits and export allowance. Dominica also offers generous tax holidays and other import duty and tax waivers.
Dominica Citizenship by Investment Program
Launched in 1993 by Dominica’s government, Dominica Citizenship by Investment Program offers you and your family the unique opportunity to get the Dominica passport providing an investment of at least $100,000 is made to either the Government’s Economic Diversification Fund or in real estate. Not only will you acquire the right to purchase land in Dominica, but the Dominica passport will allow you to travel to more than 140 visa free countries such as Singapore, Hong Kong, the EU countries and the United Kingdom.
Dominica investment options
- Investment through the Economic Diversification Fund: The Economic Diversification Fund (EDF) is a government fund, whose mission is to contribute to the economic and social development of Dominica through an investors’ financial contribution. In order to become an economic citizen by investment in Dominica through the EDF, a single applicant must invest at least $100,000. The amount of the investment increases according to the number of applicants.
- Investment through pre-approved real estate: the Dominica real estate investment option requires main applicants to invest at least US$200,000 in a pre-approved property. The real estate must be held for at least 3 years, which increases to 5 years if the buyer is also an applicant for citizenship by investment in real estate. Most real estate options available are shares in high-end tourist accommodation.
Dominica investment opportunities
Real estate in Dominica
A Dominica real estate investment is a wise option considering the fact that Dominica is one of the cheapest real estate markets in the Caribbean due to its preservation from mass tourism. However, with development and tourism increasing annually, now is a good time to invest in the wonderful ‘Nature Island’. You can find valuable properties for sale in Dominica starting at $200,000 in Dominica’s capital Roseau.
From city-center located apartments, cosy family homes, to shares in luxury resorts and hotels, and laid-back eco-lodges in the tropical forest, there are various Dominica real estate options. Investment property in Dominica can be made in some of the best cities to live in Dominica – the capital Roseau, Portsmouth, Marigot and Soufriere.
Tourism industry in Dominica
Dominica has been preserved from mass-tourism, however due to its incredible natural privileges and its first class dive destination status, ecotourism for adventurers is becoming increasingly popular. With its numerous gorgeous waterfalls, national parks, rainforest trekking routes, and magnificent coral reefs, Dominica is attracting attention. Tourists looking for a peaceful environment with multiple natural wonders to explore are inevitably drawn to discover Dominica.
As Dominica’s tourist industry is increasingly booming, investing in tourist facilities such as eco-lodges, restaurants, bars, and shares in luxurious resorts and hotel facilities is a great investment option.
Natural resources in Dominica
Thanks to a very fertile soil and a tropical climate, Dominica has a profusion of flora and fauna. Agriculture is therefore one of the main resources of Dominica.
Investing in the agricultural sector is a valuable asset – among others, banana, citrus fruits, mangoes, coconuts and cocoa are some of the most popular plantations.
Another very profitable area to invest in —due to Dominica’s natural resources — is the renewable energy sector. With geothermal, hydro, wind and solar resources, Dominica is filled with natural energy sources. Renewable energy in Dominica is a promising area, as Dominica’s government is always on the lookout for investors to improve the lives of its citizens and distribute free and clean energy in the country.
Manufacturing sector in Dominica
With a young and active workforce, Dominica’s manufacturing sector is thriving and varied. Based on the rich natural resources of the country, local plants manufacture products such: coconut oil, local rums, fruit juices, ice cream, essential oils and wooden products such as furniture.
Talk to a specialist about investing in Dominica
Thinking of investing in Dominica, but not sure how to proceed? Talk to one of our specialists here at Global Citizen Solutions.
Our dedicated team will work solely on your behalf. We are committed to providing a specialized service to each of our clients with the knowledge that comes with years of expertise, as well as access to a proprietary database of market information. We give the insight and data analysis to allow our clients to make investments with confidence.
Frequently Asked Questions about investing in Dominica
To invest in Dominica, is it a safe country?
Yes Dominica is a safe country. It is politically stable and has a low crime rate.
Do I need to pay taxes in Dominica?
Dominica is a tax free heaven. It doesn’t impose any global, wealth, and inheritance taxes, and no capital gain taxes on income earned from abroad. If you decide not to reside in Dominica during your citizenship by investment initiative, you won’t have to pay taxes. If you choose to stay in Dominica for more than 183 days in a calendar year, taxes on worldwide income are required.
Are there many natural resources in Dominica?
Dominica is filled with natural resources, which are very convenient for investments. It has a profusion of plants which is why agriculture is one of the main activities of Dominica. Its natural beauty also attracts tourism.
How can I get the Dominica passport?
Thanks to the Dominica Citizenship by Investment program, you can get the Dominica citizenship and passport for you and your family providing an investment of at least $100,000 is made. Investments can be made to the Government’s EDF or in real estate pre-approved projects.
Where to invest in Dominica?
The tourism, manufacturing, agricultural and energy sectors are some of the best Dominica investment opportunities.
Is Dominica Citizenship by Investment cost expensive?
Dominica Citizenship by Investment is one of the world’s cheapest. For an investment starting at only $100,000 (for a single applicant) you and your family can acquire Dominica citizenship.