Forbes: Give Up Your U.S. Passport For A Dominican Passport, Really?
It's a new year 2020 and those of you who applied for status between August and October last year have already received your naturalization certificates and can start using your Dominica passport. Let's take a look at how this great Caribbean island nation has gone from miraculous growth after Hurricane Maria, from being on the verge of 20 years of economic regression, to the highest growth rate in the Caribbean and Latin America in 2 years!
Forbes: Give Up Your U.S. Passport For A Dominican Passport, Really?
2019 Dominica Economic Growth First
United NationsEconomic Commission for Latin America and the Caribbean (ECLAC)said the Commonwealth of Dominica (COD) is a member of the 2019 EntireLatin Americarespond in singingCaribbean regionThe fastest-growing economy, with a GDP growth of 9%, attributed to
1.Citizenship by Investment Program (CIP)(math.) genus
2.Increase in the number of touristsrespond in singing
3.Public sector constructionThe
Top five countries
nations |
economic growth |
Dominica (Commonwealth of Dominica) |
9.0% |
Antigua (Antigua and Barbuda) |
6.2% |
Dominican Republic (Dominican Republic) |
4.8% |
Guyana (Guyana) |
4.5% |
Average (Latin America and the Caribbean) |
0.1% |
2019 Dominica CBI Index World's No. 1
Foreign investors seeking to passDominica Citizenship by Investment Program (CIP)Obtaining citizenship of a second country, by contributing to a government fund or investing in a government-approved real estate project, in three to four months applicants can obtain Dominican citizenship, prompting investors to trust because they seek a stable democracy, good diplomatic relations, a trustworthy business environment and a promising future. Importantly.Dominica's CBI program considered the best in the worldIt employs reliable due diligence and attracts impeccable individuals and families from around the globe to submit applications.
Dominica Citizenship by Investment Program (CIP)With an overall score of 911 TP3T, the Dominica Passport Program outperformed St. Kitts (2nd with 89%), (3rd with 87% Grenada), (7th with 66% Cyprus), (8th with 65% Malta), (9th with 61% Turkey), and for the third consecutive year, the Dominica Passport Program was the best.View detailed CBI Index rankingsThe
PwC praises Dominica gov't for good use of program funds
"A report by PricewaterhouseCoopers concluded.Dominica Citizenship by Investment Program (CIP)has had a huge impact on the island's resurgence and will likely remain an important engine for Dominica's sustainable development.In September 2017, Dominica received aCategory 5 Warning for Hurricane Maria, one of the worst hurricanes to ever hit the island, and it was originally predicted that it would take decades for Dominica to recover from the hurricane.
PricewaterhouseCoopers in2019visited Dominica in July of this year, stating that in the2014until (a time)2019The Dominica Citizenship and Naturalization Authority (DCCA) helped to rebuild the country during the year and successfully implemented the National Citizenship and Naturalization Program (NCNP) in the post-disaster period.Fifteen damaged roads, 19 bridges, three hospitals, six medical centers and 15 damaged schools were repaired. In additionbringing more transparency to the use of the Fund.construction of hurricane-resistant homes for 6,680 families.Citizenship and Naturalization BoardFive hotels and eco-lodges, with a total capacity of 628 rooms, are also currently under construction, creating more than 1,000 jobs during the construction phase and providing direct future employment for some 900 hotel service workers, boosting tourism, farmers, fishermen, cab drivers and travel agencies throughout the country.
Interested?Click here to downloadPwC report.
Hurricane Maria Trivia
- Tropical cyclone that caused the third largest economic damage and the largest economic damage in Puerto Rico's history
- Formation September 16, 2017, Dissipation October 2, 2017
- At least 3,057 deaths
- Losses of $91,606 million
- Areas of impact: Dominica, Guadeloupe and the United States Virgin Islands, Puerto Rico, Dominica, Haiti, the Turks and Caicos Islands, the Bahamas, the south-eastern United States, the Mid-Atlantic States, Ireland, the United Kingdom, France, Spain.
Eco Hotels, Kempinski Hotels, Hilton Group in Dominica
groundCaribbean Journalreports that the legendary Caribbean eco-resort Jungle Bay is back! This super five-star hotel (Rosalie BayWe offer eco-friendly luxury villas to make you feel "inspired by nature" during your stay.
Kempinski Hotel Group, GermanyA global hotel group founded in Berlin in 1897, it currently operates 76 five-star hotels and residences in 31 countries. Captivated by the paradisiacal world of Dominica, the CaribbeanKempinski (hotel chain)Spa Resort Officially Opens to the Public in December 2019
On April 26, 2019 members of Hilton Management's Design & Build department visited the upcoming project in Dominica. The project is located inTranquility Beachand was selected by Hilton Hotels Management as part of the prestigious Hilton Curio Collection and joined the list of exclusive hotels traveling to Dominica. Hilton officials praised the construction work and emphasized the competence of the team managing the project site.
Dominica's passport is growing in value
As of July 2, 2019, according to the Henry's Passport Index, citizens of Dominica have visa-free or visa-on-arrival access to 135 countries and territories, and Dominica's passport is ranked 37th in terms of freedom of travel. behind Taiwan and Macau, and when combined with the online e-visa, theDominica's passport allows travel to 160 countries and territories.. Citizens of Dominica may also applyB1/B2 10-year multiple-entry visa for the United States of AmericaYou can also holdOffshore bank accounts, make funding arrangements;Upgraded Dominica PassportTogether with the Schengen residency, two offshore tax + number three status, you can do a better arrangement for the whole family to move.
Status can be passed on to the next generation in the direct line
Newborns in the direct line of Dominica's citizens, whether born abroad or not, can apply directly to become Dominica's citizens.
Free movement in the Eastern Caribbean countries Right to work
Citizens of Dominica are free to travel without restriction to live and work in Antigua, Grenada, St. Kitts, St. Lucia, St. Vincent, Montserrat, the British Virgin Islands, Anguilla and in the Organization of Eastern Caribbean States (OECS). Caribbean States; referred to as OECS), is committed to economic harmonization and integration, the protection of human and legal rights, and the encouragement of good governance and dependence among the countries of the Eastern Caribbean, and that citizens of member countries must be treated in the same manner as nationals of the country in which they are located. (Understanding the Eastern Caribbean States)
Zero Taxation Realizing Legal Tax Savings
Dominica's laws provide that citizens who are not habitually resident in the country are not subject to income tax, value-added tax, transaction tax, and there is no inheritance tax or gift tax.How to use your Dominican status to legally open a bank account overseas and achieve tax savingsThe
Forbes: Give Up U.S. Citizenship To Save Taxes, Suggests Dominica Citizenship
On January 9, 2020, a senior Forbes financial writer wondered whether tax considerations should consider the option of becoming a citizen of a zero-tax country and renouncing U.S. citizenship (The original article is here), based on a complex weighting formula the IRS treats a nonresident as a resident if he or she stays in the U.S. for more than 183 days in a three-year period. As a result, expatriates must spend an average of less than 120 days per year in the U.S. to avoid U.S. global taxation. This writer cautions against four caveats:
- Be sure to acquire foreign citizenship before renouncing your U.S. citizenship.
- Becoming a citizen of another country takes time and effort.
- Moving income-producing assets out of the U.S.
- Find out the easiest way for you to travel to the U.S. and how long you can stay without incurring tax obligations.
Saint KittsDominica, Antigua and Dominica belong to the tax-free zone of the Caribbean, while Malta and Cyprus belong to the low-tax zone of the European Union. If you are interested in tax and offshore asset planning, you can read this article:Moving assets overseas, are you doing it right? How to plan? Legally and safely avoid the automatic exchange of global bank account information? How can passport + identity planning solve the CRS problem?The
Dominica's economy will continue to grow
PricewaterhouseCoopers (PwC) estimates thatDominica Citizenship by Investment Program (CIP)The funding for Dominica's development could result in an increase in GDP of approximately EC$150 million (approximately US$55 million) and an increase in tax revenue of approximately EC$30 million (approximately US$11.1 million). In addition, PwC notes that the expenditure will have a significant long-term impact on the island's economic potential. Investments in the hotel and tourism industry will provide Dominica with future revenue streams that could range between EC$90 million and EC$140 million (approximately US$33.3 million to US$52 million) annually. The financial benefits could be in the range of EC$20 million to EC$40 million per year, supporting Dominica's long-term economic growth."
Passport Exemption Countries, Overseas Citizen Services Continue to Improve
GeorgiaThe Government has signed a visa waiver agreement with the Government of Dominica, which allows Russian and Dominican citizens to visit for up to three months at a time. The condition is that their stay does not exceed 90 days in any 180-day period.Belarusand citizens of Dominica, a visa waiver agreement came into effect on November 13, 2019, which provides for reciprocal visa-free travel for any purpose of entry for 90 days within a 180-day period.
On January 22, 2020, Dominica opened an embassy in Abu Dhabi.
The Prime Minister of Dominica, Roosevelt Skerrit, was at theopening sessionIt says: "As a result ofDominica Citizenship by Investment Program (CIP), Dominica already has a small but vibrant population residing in the UAE and contributing to the vitality of its services sector and sustainable development at home." The new Dominica Embassy in Abu Dhabi serves as "an important link between the UAE's Dominican diaspora and their home country."
due toCitizenship by Investment Program (CIP)With its success and excellent reputation, investors' trust in Dominica and its programs has remained unwavering. Dominica offers successful applicants valuable citizenship benefits such as family security, visa-free and entry visa travel to 140 destinations and growing business opportunities. Middle Eastern families and singles can obtain Dominica citizenship by investing in the island's economy, provided they pass all due diligence checks. (Find out what you need to submit to apply for Dominican citizenship)
Dominica's passport contains gold, and applications require proof of a clean criminal record
Dominica's Citizenship by Investment program uses the most advanced due diligence system available, and applicants can obtain Dominica's Certificate of Citizenship and formally apply for a Dominica passport in three to four months after passing a rigorous and secure vetting process. Dominica's role in the Prime Minister'sRoosevelt SkerritUnder the leadership of the Ministry of Foreign Affairs, donations from overseas investors are utilized to build critical infrastructure for the country, increase employment opportunities, create ecological and environmental friendly travel platforms, and improve Dominica's Citizenship by Investment (CbyI) naturalization system to protect the rights and interests of its citizens traveling overseas, and all applicants, as well as those who have completed the CbyI program, are eligible to apply for citizenship.16All family members aged 18 or older are required to submit a clean record in their place of birth (if they still hold citizenship) and residence; to account for proof of source of funds, the primary applicant is also required to submit a copy of theCurriculum vitae and referencesTheApplications can only be submitted through the authorized agent on the government website.The
Dominica, ongoing visa waiver agreement
Top Visa Waiver Lists:North America,South America,European,Asian,United Arab Emirates,Istanbul,Australia,continent
There is also good news for Dominica, as the visa waiver was officially implemented for Dominica's passport with the United Arab Emirates on February 25, 2020, and every once in a while, there is positive news about Dominica's increase in the number of countries with visa waivers, Prime MinisterRoosevelt Skerrit'sStrive to be seen by the world.
Dominica, how it became the jewel of the Caribbean
Under the leadership of Prime Minister Roosevelt Skerrit.Dominica Citizenship by Investment Program (CIP)Become a Highly Qualified, Individual Application, Couple, Family ApplicationComparison with other CBI programsBelonging to the lowest cost and most efficient passport program, CBI's funds drive the country's economy to continue to grow, the people's standard to improve (currently 8,380 U.S. dollars; Thailand per capita 7,791 U.S. dollars, Brazil per capita 8,796 U.S. dollars, South Africa per capita 6,100 U.S. dollars,), and the population of the smaller countries and regions to compare, although the refusal to leave Liechtenstein's 38,000 people per capita of $ 35,000 U.S. dollars, Anguilla, with a population of 12,000 and a per capita of US$18,800, Macau, with a population of 460,000 and a per capita of US$81,151, and Dominica still have a lot of room for growth.
Dominica belongs toCARICOM Caribbean Community,Commonwealth,OECS Organization of Eastern Caribbean States,United Nations,World Bank,Organisation of American States,World Health Organization WTO, Dominica's short-term two-year rapid post-disaster reconstruction to create aA more intriguing and captivating view of the CaribbeanDominica is certainly no exception, although Dominica is a country of less than 100,000 people, but now the Chinese people have a more open-minded, more tolerant and humble attitude to understand the world, no longer subject to the boundaries, No longer limited by boundaries, language, and ideas, they take Chinese culture as their foundation, maintain a broad mind, an open mind, and a humble attitude, allowing Chingu's macro vision to lead the way in promoting the exchange of global cultures and learning from each other. This will enable the race to continue forever and for thousands of years.
Dominica's Citizenship by Investment Program Compared to Other Countries
Choosing Citizenship by Investment Program is not only from the point of view of tax and visa-free countries, but also what materials to prepare, the efficiency of the process, the subsequent opening of an overseas bank account, the cost, the professional processing organizations and the stability of the program are all factors to consider, which I will list here.Dominica Citizenship by Investment Program (CIP)Comparison with other Citizenship by Investment programs.
Dominica vs St. Kitts Compare Dominica Citizenship vs St. Kitts and Nevis
Dominica Citizenship by Investment Program (CIP)started in 1993, and the Citizenship by Investment program in St. Kitts started in 1984, both of which, at least, have only been in existence for more than twenty years.No interviews, no immigration supervision during the application processThe stability of citizenship and the longstanding exemplary status of the industry have together led to the reform and advancement of the citizenship program industry. Both CitizenshipNot substantially differentThe
The project has been in existence for more than 25 years, making it the oldest Members of the Organization of Eastern Caribbean States Visa-free Europe Visa-free UK Exemption from income tax and foreign income tax
2019 Rated #1 in the World 2019 Economic Growth First
Fewer choices for real estate projects Rigorous due diligence
Longest history of the project 2019 applicants account for the largest percentage of applicants globally 142 visa-free countries
Higher cost 30%-50% Wide variation in the level of intermediation Lots of negative news to keep in mind when using
- Malaysian financial scammer Liu Tezo, involved in a corruption fugitive case.
- Money-laundering case of Pilatus Bank, whose president used two St. Kitts passports to evade sanctions(2019)
- St. Kitts developer in another scandal(November 2018)
- A group of tourists carrying 105 white passports were detained while transiting the Caribbean(November 9, 2019)
- Former St. Kitts PM Denzil Douglas detained by UK at Gatwick Airport for carrying £70,000 cash(November 2019)
Dominica vs Antigua Dominica Citizenship vs Antigua and Barbuda
Dominica Citizenship by Investment Program (CIP)started in 1993, and the Citizenship by Investment program in St. Kitts started in 1984, both of which, at least, have only been in existence for more than twenty years.No interviews, no immigration supervision during the application processThe stability of citizenship and the longstanding exemplary status of the industry have together led to the reform and advancement of the citizenship program industry. Both CitizenshipNot substantially differentThe
2019 Rated #1 in the World 2019 Economic Growth First Long history of the project speedy
Fewer choices for real estate projects Rigorous due diligence
Large airports in the country 2019 applicants account for the largest percentage of applicants globally 139 visa-free countries
non-visa exempt No visa exemption for Uruguay Project is less than 10 years old and still unknownPassport Renewalexclusionary rule
Dominica vs Cyprus Compare Dominica Citizenship vs Cyprus
Cyprus, an island country located between Greece and Turkey, joined the European Union in 2004, launched the Citizenship by Investment Program in 2016, Cyprus has the natural advantages of geography and identity, in three years time to become the highest fees on the market, the fastest to obtain the EU status of the passport program, the citizens can move freely between the EU countries, in contrast toDominica Citizenship by Investment Program (CIP)Offering only 90 days of visa-free access, there is a significant note difference between the two statuses for those doing business in the EU for an extended period of time, and the cost is tens of times different.
Get your passport in one step No interview required No immigration supervision
2019 Rated #1 in the World 2019 Economic Growth First Long history of the project speedy simple structure
Visa-free for 131 countries only Visa required to travel to Japan
- ICPAC: Cypress applicants are a high-risk group(January 21, 2020)
- EUpressureOthers, Cypriot passport sales jeopardize regional security(December 2, 2020)
Other comparisons
Dominica vs Cyprus Compare Dominica Citizenship vs Cyprus
Dominica vs Montenegro Compare Dominica Citizenship vs Montenegro
Dominica vs Vanuatu Dominica Citizenship vs Vanuatu
Dominica vs St. Lucia Dominica Citizenship vs St. Lucia
Dominica vs Antigua Dominica Citizenship vs Antigua and Barbuda
Dominica vs Malta Dominica Citizenship vs Malta
Dominica vs Turkey Dominica Citizenship vs Turkey
Dominica vs Moldova Compare Dominica Citizenship vs Moldava
Dominica vs Grenada Dominica Citizenship vs Grenada
Extended Reading
Dominica Passport Application Success Stories,Dominica Passport Application for U.S. Visa Success Stories,U.S. Student Visa Success Stories,Applying for a Certificate of No Criminal Conviction after Naturalization,Hague Certification Success StoriesQuickly learn about Dominica's Commonwealth passport, processing, materials, notarization, timing, visa-free countries, eligibility, advantages
Countries exempted from visas on Dominica's passport
Upgraded Dominica Citizenship by Investment Program
How to open an offshore bank account with a Commonwealth passport? Teach you to use your Dominica passport, apply for an offshore account and get your bank card in a day!
Dominica passport to apply for a U.S. 10-year visa B1 B2 easier than you think Real experience sharing
Compare:St. Kitts Dominica Turkish Passport
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Dominica Citizenship Program
- The Dominica Citizenship Naturalization Program was established in 1993 A.D. and is one of the oldest naturalization programs in the world.
- passport immigrationApplicants are not required to attend an interview
- Immigration can be processed quickly: the time it takes is about 2-3 months.
- The most cost-effective program for single applicants
- The status can be passed on permanently to the next generation in the direct line.
- Consultationreserve