Roseau, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Investing wisely is essential to building financial security. A staggering 75% of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) believe that real estate will do well over the next two to three years. Comparatively, 74% consider real estate to be an important asset to hedge against inflation. This is according to the latest 2023 Luxury Outlook Report. According to the same report, global wealth is expected to increase by US$169 trillion, which represents a cumulative rise of 36%, by 2026.
With 61 per cent of HNIs and UHNIs looking to buy real estate in the coming year, this asset class remains a popular choice. The real estate sector has gained significant popularity amongst investors worldwide and has become a common topic of discussion among HNWIs who are seeking to diversify their portfolios. Owing to the profitable returns and prestige that the sector carries, it presents the perfect investment for anyone with adequate resources and a willingness to invest.
Why passing on wealth to future generations is important
Passing on wealth to future generations is an important part of ensuring financial security and stability for the next generation. It can provide them with the resources they need to pursue their goals, build a better life for themselves, and create a more prosperous society. By passing on wealth, families can ensure that their legacy lives on and that their values are shared with future generations. Furthermore, it can be an effective way of preparing for retirement and reducing the burden of taxes in later years.
Dominica’s CBI programme and Real Estate Investment Option
Diversifying investment risk is a key strategy to minimize potential losses and maximize returns. By diversifying investments across regions, astute investors can spread their risk across a wide range of asset classes and industries. This helps to protect against market volatility and maximize long-term growth potential.
Established in 1993, the Commonwealth of Dominica’s Citizenship by Investment (CBI) Programme has taken the top spot for 6 consecutive years in the Financial Times PWM CBI Index. The CBI Index is the most comprehensive evaluation of CBI programmes in thirteen jurisdictions. It evaluates programmes on the basis of nine specific aspects, named the ‘nine pillars of excellence’.
Of these nine pillars of excellence, Dominica has excelled in six, namely, the minimum investment outlay required, mandatory travel and residence conditions, ease of processing, the due diligence of the process, the ability for a family to gain citizenship, and the certainty and robustness of the programme. Across the pillars, it scored 90%, with 81 points.
Commonly referred to as the Nature Isle, Dominica is known for its beautiful natural resources, which make it a top eco-tourism travel destination.
Through its CBI programme, Dominica offers investors the choice to purchase approved real estate or to make a contribution to Economic Development Fund (EDF). Recipients are then entitled to the same rights as those who were born in the country.
The government has approved various real estate projects in Dominica. Major government-approved real-estate projects include Secret Bay, Jungle Bay, Marriot’s Anichi Resort, Hilton’s Tranquility Beach Resort and the Kempinski Hotel. Alongside these, various government-approved projects, such as Bois Colette, Ocean Edge Development, and Sanctuary Rainforests Eco Resort and Spa provide investors with a straightforward and advantageous route to alternative citizenship in Dominica.
Benefits of Dominica’s CBI Programme
- No travel, interview, residency or English language requirements
- Enhanced Global Mobility
- A fair tax regime, with no worldwide income, inheritance or gift tax for tax residents
- Business haven – incentives for businesses and investment
- 90-day processing time
What to expect from the process
Under the approved real estate option, applicants need to make a minimum investment of US$200,000, while the government fee for a single applicant is US$25,000. Due diligence fees for a main applicant is US$7,500 and the processing time per application is approximately 3 months from acknowledgement of submission of application to approval in principle.
Each application must undergo a due diligence process and applicants and their dependents, where included in the application, will be vetted by multiple entities. The following checks are performed on all applicants:
- KYC (know-your-customer) checks are performed by local authorised agents.
- Internal checks including AML (anti-money laundering) and CTF (counter-terrorism financing) vetting
- Mandated international due diligence firms perform online and on-the-ground checks
- Regional and international crime prevention bodies check that you aren’t on any wanted or sanctions lists
- Final thorough vetting of the applicants and their dependants by the Citizenship by Investment Unit
Next steps
To take the next step in benefiting from the Dominican Real Estate Investment Option for citizenship, contact:
Dominica
