The Dominica Citizenship by Investment Unit has issued a series of warnings targeting incorrect information that is being circulated in the aftermath of Hurricane Maria.
The warnings have focused especially on purported changes to the Economic Diversification Fund (EDF) contribution and to applicable fees.
To assist the Unit in dispelling confusion and countering this wave of misinformation, we provide below a summary of the EDF option, which remains unchanged, and also outline the most recent changes that have been issued by the Unit.
The EDF Option
The following contributions to the EDF will qualify an applicant and/or his or her family for citizenship under the Dominica Citizenship by Investment Programme. These are unchanged:
- Single applicant: US$100,000
- Main applicant plus spouse: US$175,000
- Main applicant plus up to three qualifying dependants: US$200,000
- Any additional qualifying dependant, other than a spouse: US$25,000
Minor Fee Changes
1. Children born to the main applicant after he or she receives economic citizens may be registered as Dominican citizens following the payment of a US$500 processing fee.
2. The due diligence fee for a main applicant’s spouse is reduced from US$7,500 to US$4,000.
3. The processing fee is reduced from US$3,000 per application to US$1,000 per application.
4. The Certificate of Naturalisation fee is reduced from US$750 per certificate to US$250 per certificate.
Changes Relating to Dependants
The maximum age for children who are adults and who may qualify as dependants has been increased from 28 to 30. 30 is understood to be inclusive, meaning that children who are currently aged 30 qualify as dependants, while those aged 31 do not.
To qualify as dependants, children aged between 18 and 30 must thus be:
2. Until recently, dependent parents or grandparents may only have been included if aged 55 or over. Now, dependent parents or grandparents aged 55 or over may be included together with their spouse, even if that spouse is not yet aged 55.
3. Additional dependants may now be added to an application up until Approval in Principle, so long as an appropriate request is submitted to the Unit together with all relevant fees, and so long as necessary alterations are made to the required investment. The decision to include additional dependants rests with the Unit, which may also deny an application on the basis that the added dependant did not pass its due diligence checks.
4. A dependant may now be removed from an application even after Approval in Principle, so long as the request is lodged with the Unit in writing prior to the full payment of the investment. The decision to remove dependants rests with the Unit, which will not reimburse the main applicant for any fee paid for such dependants.
More information is available on Dominica’s CBIU website.