March 17, 2020
The Commonwealth of Dominica is one of the most beautiful countries in the world. The island country boasts an attractive climate and stunning landscape that soothes your mind. The country’s citizenship is one of the most renowned due to its benefits.
There are no restrictions to acquire second citizenship through investment and there are no compulsory interviews. One is also not required to reside in the country before, during or after getting citizenship. The country also enjoys one of the most stable economies worldwide. Also, the country has a low crime rate and high living standards. Here are some of the reasons why this citizenship program is the most sought after.
There is always a catch when acquiring second citizenship in some countries. You have to renounce your former citizenship. However, in Dominica, the law allows dual citizenship. Therefore, the process becomes confidential because you don’t have to renounce your native citizenship. Also, there are no requirements to live in the country during or after acquiring a second passport. That means you can still live in your country of birth.
Dominican citizenship through investment is one of the oldest and most trusted worldwide. The program opens up a whole new world of opportunities to travel the world. The citizenship has little to no restrictions when traveling over 100 countries. You can travel to most countries visa-free or using visa-on-arrival conditions. This freedom is essential for individuals who travel to other countries for business or work. You don’t require a visa to visit countries like Singapore, UK, Hong Kong, and Iceland.
There is a reason why Dominica is known as “Nature of the Caribbean”. The country boasts some of the best social amenities worldwide as well as an attractive climate. Dominica has one of the highest life expectancies and it is a safe haven because of the low rate of crime. The natural physical features like mountains, natural hot springs, and forests make the country a hot destination for tourists. Dominica also provides an opportunity to enjoy marine sports like diving and snorkeling.
You might think that this is only important to businesspeople who are seeking to reduce the burden of high taxes. However, your wealth, gifts and inheritance are exempt from any taxation. The country does not tax capital gain or income from foreign countries. These features will prove essential to businesspeople that have companies in their native countries. There is always a risk of double taxation for already existing businesses.
The only requirement for those seeking Dominican Republic citizenship is a visit to the country. There is no obligation to reside in the country before or after getting citizenship through investment. You also have the right to residence in the country and it is also irrevocable. The terms make the citizenship attractive for individuals who want to maintain a low profile about their dual citizenship before relocating.