Dominica Entrepreneur Visa A unique path to Caribbean livingSeptember 7, 2020
Roseau, September 7, 2020 – On Sunday, the Commonwealth of Dominica announced that it will be launching in the coming months the Entrepreneur Visa, which is a unique platform. This one of a kind visa recognizes the government’s interest in providing a unique status to applicants who make a significant financial investment in the country. It will add valuable foreign direct investment into the private sector. Moreover, it clearly defines the requirements for the grant of a residency permit via investment in an effort to encourage further investment into the island. Finally, this program represents additional avenues for engagement with investors who are looking for options beyond the Citizenship by Investment Program.
The client applying for the Entrepreneur Visa receives a 2-year residency permit, which will be issued within 45 days of approval, and can apply for naturalization after said 2 years, provided he meets all the criteria.
The applicant has three (3) options with respect to investment:
- Invest a minimum of 50,000 USD in an existing government-approved company through the Investment Fund.
- Invest a minimum of 100,000 USD in a new startup business locally registered in the Commonwealth of Dominica employing at least 3 full-time employees.
- Invest in a government-approved public sector or private sector venture as an equity investor.
What are the requirements?
The requirements are straight forward:
- Make of a deposit of a minimum amount of USD 100,000 in a local financial institution (please note that the funds may be used from Dominica and depleted during the residency period);
- Spend a minimum of 90 days out of 365 days per year in the country.
What are the benefits of the Dominica Entrepreneur Visa?
- Pathway to Dominica naturalization (visa-free travel to 140 countries including Schengen)
- Permanent residence for the whole family, including children under 21 years old
- Fast processing time
- Favourable tax regime
- Peaceful and clean environment, low pollution
- Great quality of life set amidst a tropical climate
- Political stability
- Great program for those who continue to live abroad but desire an alternate country of residence for themselves and their family members, for tax planning and other purposes
- Visa-free travel to CARICOM countries
- Ease of doing business in the Caribbean and beyond
- Investors will have real KYC value add from being real contributing members of a society in which they are intending to become citizens and are residents.
To find out more on the Dominica’s Entrepreneur Visa, please contact us at email@example.com