Traveling the world and enjoying freedom is what makes second citizenship so attractive. However, you should not forget about other opportunities. Making a choice between two interesting offers is not easy, and a detailed overview is needed to help you.
Overview of Dominica Citizenship by Investment Program
The information about the benefits of participation encourages action, but the requirements for participants should be noted. A wealthy investor planning to start naturalization and obtain Dominican citizenship by investment should be prepared to follow the government’s guidelines. Among them:
- Capital. Participation options attract by the size of the investment. The amount is from 100 thousand dollars. The total cost depends on the number of applicants and the option chosen.
- Methods. Foreigners invest in the development of the government fund. In addition, it is possible to purchase real estate in accordance with government requirements. A minimum period of ownership is required for successful completion.
- Documents. The package is drawn up with the participation of a notary, as a certified copy with a translation is required for submission.
The application processing time under the Dominica CBI program does not exceed six months. Thanks to this, foreigners receive preliminary approval within a few months.
Key Advantages of Dominica Program
The country succeeds in attracting investors because it has created conditions for new citizens to develop business and accumulate capital. To this end, the government offers
- a simplified taxation system;
- a wide range of markets for setting up businesses;
- a stable economic and political situation.
Consideration should be given to the country’s international reputation. Dominica is a member of CARICOM and cooperates with the European Union. Due to this, citizens of the island can travel without a visa. You can submit a request after crossing the border.
Requirements of Dominica Program
The eligibility criteria are straightforward. Participants must prepare documents that prove the legitimacy of the capital and the reliability of the investor (and the added applicants). To participate, it is also important to meet the following requirements:
- the minimum age of the participant is 18 years;
- no criminal cases in the past;
- financial independence.
Applications are submitted for consideration remotely. A representative (or the entrepreneur himself) visits the consulate and submits the relevant documents. Preliminary approval means that the foreigner will receive Dominican citizenship after fulfilling the investment obligations.
Overview of St Kitts Citizenship by Investment Program
The pleasant climate of the Caribbean islands attracts tourists and entrepreneurs. The country offers the latter to participate in a program with simple conditions:
- Ways to invest. Comparing Dominica vs St. Kitts citizenship, we note a larger list of options. The island offers to make a contribution to a government fund (the investment is non-refundable), purchase real estate, and support a socially important project.
- The amount of investment. The rules for participation in the program were revised in 2023. The minimum amount was increased to $250 thousand. At the same time, the purchase of real estate costs from 400 thousand. The total cost of participation includes additional processing costs.
- Number of applicants. An investor with a partner, children, and parents can obtain citizenship for the entire family. In this case, the cost will increase, as the entrepreneur pays the costs of the added applicants.
The advantage of Caribbean citizenship programs is that the local population crosses the border under a simplified scheme. Membership in CARICOM allows you to travel comfortably.
Key Advantages of St Kitts Program
Supporters of the local program emphasize the loyal taxation system. Citizens are exempt from paying taxes on:
- capital gains
- inheritance
- dividends;
- worldwide income.
However, the list of investor opportunities through St Kitts citizenship by investment will not be complete without mentioning the absence of additional conditions. The passport is retained by the foreigner, and the period of stay on the island does not affect the result. In addition, there is no need to pass a language test.
Requirements of St Kitts Program
Only adult foreigners are allowed to participate in the offer. The minimum age of parents who can be added to the list of applicants is 65 years. Additionally, you must provide the results of a medical examination, proof of financial independence and no criminal record.
Conclusion
Island programs attract with many privileges. To choose the best offer, you should consider your requirements, for example, the ability to include dependents. In this regard, Saint Kitts citizenship is inferior to Dominica, as the country limits the possibilities for foreigners. The country manages to attract investors in a different way. For example, real estate allows you to make a profit and return your investment in a shorter period of time. To choose the best option, you should seek advice and compare selected offers according to personal criteria.
