Dominica Passport Cost Analysis

Since its inception in 1993, the Dominica citizenship by investment program has been the low cost choice among similar programs worldwide. The two pathways established by the government to satisfy the Dominica passport cost are 1) real estate investment or 2) Economic Diversification Fund (EDF) contributions.

Diligent investors will compare and contrast the Dominica real estate investment program with the nonrefundable EDF contribution. Indeed, the real estate investment can be sold at the end of a five year holding period to a new buyer who can also use it to qualify for Dominica citizenship.

When including proceeds from the sale, a proper cost comparison will reveal potential savings of US$173,000 for a family of four while retaining their Dominica citizenship in perpetuity!

Dominica Passport Cost Analysis Family of Four
(Main applicant + Spouse, 2 child dependents <16 years)

Program Investment Amount Total Cost
Real Estate Investment US$220,000 purchase price
US$1,000 government processing fee
US$35,000 government fee
US$11,500 due diligence
US$1,000 certificate of naturalization
US$4,800 passport fees
US$5,000 professional fee
US$278,300 Total
Economic Diversification Fund US$175,000 investment
US$1,000 government processing fee
US$11,500 due diligence fees
US$1,000 certificate of naturalization
US$4,800 passport fees
US$5,000 professional fee
US$198,300 Total
Cost Comparison US$278,300 minus US$198,300 = US$80,000 cost savings

At first glance, it seems that making a nonrefundable contribution to the EDF instead of the real estate investment results in potential cost savings of US$80,000.

Before drawing a conclusion, prudent citizenship investors will factor in the proceeds from the real estate sale and also the resort profit sharing program.

Investment Returns Actual Real Estate Cost
Real Estate Total Investment US$278,300
Proceeds from Sale (US$220,000)
5 Year 3% Profit Sharing Yield (US$33,000)
Net Cost US$25,300

Indeed, when factoring in the investment return from the sale and profit sharing, the actual cost of the real estate program is only US$25,300 for a family of four. As a result, investors in the Dominica citizenship program will be rewarded a potential cost savings of US$173,000. 

Programs Actual Cost
Economic Diversification Fund US$198,300
Real Estate Program US$25,300
Cost Difference US$173,000 potential savings with real estate option

Low Cost vs Value

Indeed, the Dominica passport cost was ranked the lowest in the world for many years. However, more recently, the Caribbean programs plus Vanuatu have become very competitive with the introduction of several new low cost options. As a result, Dominica has lost its low cost crown to the neighboring island of St. Lucia.

Nonetheless, Dominica’s citizenship by investment program has increased in value with new visa free destinations such as Russia being included.

Furthermore, Dominica offers constitutional protections where its most aggressive new competitors are lacking e.g. St Lucia, Vanuatu. Also, Dominica citizenship includes the option for newborn or adopted children of any successful applicant to become naturalized citizens for a simple administrative fee of US$500.

Conclusion

It certainly pays to consider your investment options. To be sure, the EDF contribution is a one and done deal, while the real estate investment will be subject to fluctuations in CBI real estate prices and the global economy. However, even a 50% reduction in the sales price of the real estate (US$110,000) still results in cost savings of US$63,000 when compared to the EDF!

Furthermore, investors will enjoy all of the Dominica citizenship benefits in perpetuity such as visa free travel to over 137+ destinations including the European Union, United Kingdom, Ireland, Russia, Turkey and much more. Additionally, Dominica has no tax on international income, there is no language requirement and investors are not required to travel to Dominica during the application process.