Industry News

Dominica makes key changes to its CIP

Dominica makes key changes to its CIP

Siblings no longer qualify as dependants. 

Dominica’s Citizenship by Investment Unit has published amendments to its CIP, which bring key changes to eligible dependents, as well as Real Estate and Economic Diversification Fund fees.

Effective 15 September 2022, the new terms for Dominica’s Citizenship by Investment program now include:

 

Changes to eligible dependants

While spouses and children under eighteen remain eligible dependants, adult children between eighteen and thirty years of age must now provide proof of attendance at a recognized institute of higher learning and must also be substantially supported by the main applicant or their spouse.

Unmarried daughters under 25 years of age are also now eligible, provided they are living with and supported by the main applicant or their spouse.

Parents and grandparents of the main applicant or their spouse must now be above the age of sixty-five years to qualify. They must also be supported by the main applicant or their spouse.

Perhaps the biggest change comes in the case of siblings, who do not qualify as dependants under any circumstance.

 

Changes to Real Estate fees

The new regulations also make amendments to the real estate fees and criteria, with the exclusion of siblings being the highlight.

Set fees are now only applied to a family of up to 6, with a fee of $25,000 for each additional dependant regardless of age.

The complete breakdown is as follows:

  • US$25,000 for the main applicant
  • US$35,000 for the main applicant and up to three dependants
  • US$50,000 for the main applicant and up to five dependants
  • US$25,000 for any additional qualified dependant

 

Changes to Direct Monetary Investment fees

Investors with a family of 4 will now pay US$175,000, with changes in fees for additional dependants, subject to age. The fee for additional dependants under 18 is US$25,000, and US$50,000 for those 18 and over.

See the complete breakdown below for additional details:

  • US$100,000 for the main applicant
  • US$150,000 for the main applicant and spouse
  • US$175,000 for the main applicant and up to three dependants
  • US$25,000 for any additional dependant under the age of eighteen
  • US$50,000 for any additional dependant eighteen years of age or older

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