Why should you get a Dominica second passport? Well, besides the obvious benefits, there are a lot of other reasons. Among them are fast processing time, due diligence checks, and double taxation treaties. If you’re considering getting one of these, you’ll want to read on. Here are some of the most compelling reasons to get one. But before you get started, you should know more about Dominica first.
Fast processing time:
The Dominica Citizenship by Investment Unit is the newly formed government agency within the Ministry of Finance that oversees the economic citizenship application process and ensures that only deserving applicants are admitted. To apply for this passport, you must be over the age of 18 and meet certain immigration requirements to the country. For more information on this process, visit the Dominica Economic Diversification Fund website. The fund is used to finance public and private sector initiatives.
No residency requirement:
Getting a second passport from Dominica makes international travel more convenient, private, and easy. Many wealthy individuals have trouble traveling internationally with certain passports, but those who hold a second Dominica passport can visit the majority of developed countries without a visitor visa. An increase in international mobility can improve one’s quality of life. No residency requirement for Dominica’s second passport
Double taxation treaties:
Having a second passport in Dominica opens up many options when traveling abroad. Besides the tax benefits, there are also other advantages. One of these is the low tax threshold. You can visit most of the developed countries without paying visitor visa fees. A second passport in Dominica will also give you more freedom and privacy. You’ll be able to do business in the country, enjoy double taxation treaties, and enjoy the advantages of a second passport.
There are many ways to get a Dominican second passport, but the most affordable route is by purchasing a property. The cost for a family of four is $175,000, while individuals can pay around $200 thousand. The economic citizenship program is the oldest of its kind in the world and offers a second passport for under $100,000. The process typically takes six months but can take anywhere from three to nine months. If you’re looking for a second passport that can help you travel the world, the Dominica citizenship program may be for you.