[ Published August 31, 2017 by Natalia Zakharova ]
A mere two weeks after the Antigua & Barbuda Citizenship by Investment Unit announced new reduced fees for the processing of applications, Dominica has decided to do the same.
The new Dominica Citizenship Investment Program fees for the processing of citizenship applications made via the real estate route are as follows:
USD 25,000 for the Main Applicant
USD 35,000 for the Main Applicant applying with his or her spouse
USD 35,000 for a family of up to four persons, including the Main Applicant and up to three dependents
USD 50,000 for a family of up to six persons, including the Main Applicant and up to five dependents
USD 70,000 for a family of seven persons or more, including the Main Applicant and six or more dependents
With a US $200,000 minimum investment required, Dominica now offers the lowest price point of all the Caribbean citizenship by investment programs for the property investment route. Real estate development on the island has been slow-moving to date and the Dominica government hopes that the new lower cost of the processing will attract more real estate investors to the island, in turn boosting hotel and resort development.
Antigua & Barbuda has consistently maintained higher fee and investment levels, valuing itself above the other Caribbean jurisdictions offering citizenship by investment. The destination arguably leads the way in many areas including lifestyle for the international elite, air access, safety, cultural diversity, international investment, and standout economic growth levels. The CIP investment opportunities in Antigua & Barbuda are considered more attractive by many investors due to the combination of established business infrastructure and the international business community dedicated to the destination. For citizenship investors simply looking for the least expensive route to second citizenship who are not looking to diversify their investment portfolio into the Caribbean region, and are primarily interested in travel benefits, Dominica continues to be the optimum choice since the visa-free travel benefits are broadly on par between the two destinations.