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Published On: Mon, May 7th, 2018

2ndPassports.com Dominica Citizenship By Investment Program

Established in 2004, the specialised team at 2nd Passports aim to help wealthy clients and investors gain second citizenship and passports into a range of countries. The company offer one of the easiest and most efficient ways to gain citizenship thanks to the teams network of global contacts. They also work directly with government representatives in order to provide a safe and secure process.

As an industry leader in the field, staff have gained a wealth of knowledge and experience in the area, and now have customers that come from all over the globe. Providing literally thousands of people with the freedom that they have previously been denied.

Acquiring second citizenship can be both time consuming and expensive, yet 2ndPassports will go out of their way to put the customer at ease. Offering a range of contact options, clients should rest assured their privacy comes first. Regular industry news updates are also provided on their Twitter account at Twitter.com/2ndpassportscom.

Dominica Citizenship Program

Photo courtesy of 2nd passports via Andrew Cioffi

Photo courtesy of 2nd passports

Citizenship by investment was first started in the Caribbean, on the island of St. Kitts and Nevis, so it is not surprising that other Caribbean islands soon followed suit. Dominica is one of the less known countries in the area, and also has built up a reputation for discrete banking and favourable taxation. Since 1993 the country has had its own very successful and popular Citizenship by Investment programme, and since its founded has secured thousands of successful applicants.  

The investment program is a cheap and relatively fast was to secure second citizenship to the Caribbean. The cost is a minimum of $100,000 which goes towards aiming many different aspects of the country as a whole. Many people would call this a charitable donation in order to gain full Dominican citizenship, which can be gained in as little as 3 months. Once acquired, you will have your passport for 10 years (this is easily renewed), although will have citizenship for life, no matter if there is any change in government. You will also automatically become a member of CARICOM, meaning you can live and work in any of the CARICOM nations.

The country is a sovereign and nation located in the Caribbean, and formally was both a French and British colony. It remains part of the British commonwealth, but was granted independence form the UK back in 1978. Its national language is still English however, making the transition and lifestyle change a lot easier to manage.

Dominica is one of the smallest nations in the world, with only 73,000 inhabitants. Yet, despite the small number of people who live here, there is 50km2 of living space. In general, it is a popular tourist destination, with people coming from all over the world to enjoy the breath-taking beaches, warm waters, interesting wildlife and beautiful rainforests.

Benefits

Similarly to other countries in the Caribbean, such as Antigua, the Cayman Islands and St. Kitts and Nevis, an investment program for Dominican Citizenship comes with multiple benefits. The main benefits is its discrete banking and low taxation.

Photo courtesy of 2nd passports via Andrew Cioffi

Photo courtesy of 2nd passports

In 1978, the country became independent, and from this time have provided private and tax-friendly offshore banking, while also legislated in favour of offshore accounts, trusts and foundations. There is also the added benefit of Dominican privacy laws coming into effect, which means that the identities of these trusts and accounts are protected at all times. The government of Dominica aims to make doing business on the island a very attractive prospect, therefore there is no restriction on the repatriation of profits and imported capital and there is access to several markets duty free.

In terms of taxation, there is no income, corporate or capital gains tax imposed on income that is earned abroad or on any interest that is earned from an offshore bank account.

Opening and maintaining a bank account in the country is an uncomplicated process, and offers Confidentiality Bank secrecy, something that is taken very seriously. You can also creature and use multi-currency accounts, which means that you can run multiple currencies through the same account, have access to full internet banking facilities, make use of the multilingual customer services and due to no personal visa being required, you can open your bank account no matter where you are in the world.

In addition to financial benefits, there are also a range of general benefits that come with acquiring citizenship in Dominica. While living on the island, you can partake in a wealth of opportunities including living in a welcoming country, knowing that you have contributed significantly to its prosperity, visa-free travel to over 120 countries and territories, full residence status and much more.

Additionally, Dominica is often named one of the happiest places to live due to its culturally vibrant and friendly community and unique environment.  Not to mention that fact that the Caribbean is a tropical paradise, with white sandy beaches, rugged mountains, national parks, rivers and waterfalls and much more.

Author: Andrew Cioffi

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