The Commonwealth of Dominica citizenship by investment program is one of the most popular CIP’s in the world.
The Government of Dominica has published 2018/19 budget estimates report, prepared by the ministry of finance. According to the report, the revenues from citizenship scheme has brought almost half a billion revenues to Dominica in the year 2016/17 and the estimated revenue for 2018/19 is $406m which accounts for 52% of all revenues.
The GDP of Dominica for 2017 is $562 million and during 2016/17, Dominica received $492 million (actual estimate). This means CBI program accounted for 87% of GDP of Dominica for that year.
The actual estimates of Dominica CBI program in 2016/17 is
- EDF contribution – $262.2 million
- Agency fees – $175.2 million
- Due diligence – $24 million
- Naturalization certificate – $2.7 million
- Application fee – $6.2 million
The Government requires one time contribution to EDF fund for citizenship in Dominica.
- Single Applicant: USD 100,000
- Applicant with Spouse: USD 175,000
- Applicant with 3 dependants : USD 200,000
- Additional dependants: USD 25,000 per person
In 2017 Hurricane Maria caused significant damage to Dominica, wiping out 90% of GDP and since then Dominica is using the funds raised from CBI program in national development, climate change research, infrastructure etc.
The full report is available here
