Economic Diversification Fund
Overview of the Economic Diversification Fund
Minimum Investment:
US$200,000
Full residence status –
including working rights
Minimal
Taxation
Hold multiple
citizenships
Download Brochure here
Dominica Economic Diversification Fund (EDF): Terms of the Programme
To qualify for Dominican citizenship through the Citizenship by Investment Programme, applicants must make a non-refundable contribution starting at US$200,000 for the main applicant to the EDF.
The cost of the contribution will be determined by the number of dependants included in the application —this refers to anyone who relies on the main applicant as a primary source of income, including spouses, children, parents and grandparents.
Key EDF Investment Information
- The applicant is responsible for paying the full minimum EDF contribution under the laws and regulations that govern the Dominica CBI Programme.
- Payments will be made via bank transfer, and any applicable bank charges must also be paid to ensure the Government receives the full EDF contribution amount.
- Full minimum EDF contribution amounts are expressed in United States dollars (USD). However, the Government will also accept payments in euros (EUR) and pound sterling (GBP).
https://youtu.be/HaokaDDfIck
IMPORTANT:Â Any payments in EUR or GBP must be equivalent to or greater than the minimum EDF contribution amount in USD; otherwise, they will be rejected as insufficient.
Dominica EDF Investment Fees
To gain Dominican citizenship through the EDF investment option, an applicant must contribute at least US$200,000.
- US$200,000 (two hundred thousand United States dollars) for the main applicant;
- US$250,000 (two hundred and fifty thousand United States dollars) for the main applicant and up to three qualifying dependants;
- US$25,000 (twenty-five thousand United States dollars) for any additional dependant under the age of eighteen;
- US$40,000 (forty thousand United States dollars) for any additional dependant eighteen years of age or older;
Additional Fees:
The following fees must be paid in addition to the minimum EDF contribution:
- Processing Fees -US$1,000 per application;
- Due diligence fees – US$7,500 for the main applicant, US$4,000 for any dependants aged 16 or above;
- In some cases, enhanced due diligence fees may be required depending on current citizenship status, and other personal circumstances;
- Certificate of Naturalisation fee – US$500 per person;
- Mandatory interview fees – All applicants aged 16 and over will be subject to an interview fee of US$1,000 per interview.
- Enhanced due diligence fees may apply.
NOTE: Additional ‘government fees’ are not required by those applying for Dominican citizenship with an EDF contribution. These fees are only relevant to applicants who invest in real estate.
About the EDF
The Economic Diversification Fund (EDF) is a Dominican Government Programme supporting socio-economic initiatives with the aim of driving national development. This was established through the country’s Citizenship by Investment Programme, as one component of a national capital mobilisation portfolio. Applicants can acquire economic citizenship to Dominica by making a financial contribution to its EDF.
All money generated from the EDF goes towards improving projects in the public and private sector which are in need of financial support. These projects include building schools, renovating hospitals, and the creation of a national sports stadium, as well as a variety of other undertakings across numerous industries such as tourism, information technology and agriculture.
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Dominica EDF: A step by step guide
Step 1: Select an Authorised Agent
Applicants must select an Authorised Agent or official promoter from the CBIU website to assist throughout the process, handling documentation and communication with the CBI Unit.
Step 2: Due Diligence Process
Once due diligence fees are paid, the agent submits the application, which undergoes a multi-tiered due diligence process.
Step 3: Make the Investment
If approved in principle, the applicant makes the investment, paying the applicable fees in full.
Step 4: Receive your citizenship
Applicants will receive their Dominican citizenship and can apply for their new passport.
The benefits of Dominica Citizenship by EDF Investment
For those who meet Dominica’s Programme requirements, the idyllic Caribbean Island offers one of the best standards of living in the region. Dominica is politically and economically stable, with a low crime rate and rich investment opportunities. Other benefits include:
Full residence status –
including working rights
Joining a global community that transcends Dominica’s land borders
Minimal taxation, with no wealth, gift, inheritance, foreign income, or capital gains tax
The ability to hold multiple citizenships
Why choose Dominica Citizenship by Investment Unit
The Dominica Citizenship by Investment Unit (CBIU) stands out as a trusted entity in the realm of citizenship programmes.
- Renowned for its commitment to efficiency and transparency, the CBIU has established a robust framework that ensures a smooth application process.
- This trust is further bolstered by the Government’s stringent due diligence measures, which thoroughly vet applicants to maintain the integrity of the Programme.
- The CBIU’s dedication to national development through investments in various sectors, including real estate and the Economic Diversification Fund, reflects its mission to enhance the country’s economy while providing valuable opportunities for investors.
- Choosing the CBIU means aligning with a reputable organisation that prioritises both the interests of its applicants and the welfare of Dominica, making it an ideal choice for those seeking citizenship through investment.
You can learn more about the Unit here.
Real Estate Investment | An alternative to the EDF
As well as obtaining Dominican Citizenship via the Economic Diversification Fund, you could instead choose to invest in Real Estate.
Frequently Asked Questions
What is the Dominican Economic Diversification Fund?
The Dominican Economic Diversification Fund (EDF) stands as a pivotal initiative aimed at fostering sustainable growth in Dominica’s economy. By promoting diversification, it seeks to reduce reliance on traditional industries, like agriculture and tourism. Instead, the fund encourages investment in sectors such as renewable energy, technology, and infrastructure. Such strategic investments can lead to job creation and enhanced living standards for residents. Investors can obtain citizenship in Dominica via this investment option.
What is the CBI programme Dominica?
Dominica’s Citizenship by Investment (CBI) programme represents an attractive pathway for foreign investors seeking citizenship. Launched in 1993, this Programme offers individuals the opportunity to obtain citizenship through significant financial contributions. Investors may choose between the Economic Diversification Fund or real estate investment options. The CBI programme not only stimulates economic growth but also provides individuals and families with citizenship for life that comes with numerous benefits.
How much does it cost to become a Dominica citizen?
The cost of obtaining Dominica citizenship through the CBI programme varies based on the chosen investment route. Generally, the minimum contribution to the Economic Diversification Fund starts around US$200,000 for a single applicant. For real estate investment, the minimum threshold is also around US$200,000. Additional fees, including due diligence and processing costs, may also apply.
What are the steps involved to obtain Dominica citizenship?
Acquiring Dominica citizenship involves several key steps. First, potential applicants must select an authorised agent to facilitate the process. Next, they need to choose an investment option that aligns with their preferences. Subsequently, applicants must submit the required documents, including proof of funds and identification. After thorough due diligence, the application is reviewed. Upon approval, the investment is made, leading to the issuance of citizenship.
How to obtain Dominican dual citizenship?
Dominica allows dual citizenship, which means individuals can hold citizenship in another country while enjoying the benefits of Dominican citizenship. To obtain dual citizenship, one must first secure Dominica citizenship through the CBI Programme. It is essential to check the laws of the other nationality to ensure dual citizenship is permitted. Many countries recognise this arrangement, making Dominica an appealing option for those seeking flexibility and opportunity on a global scale.