Dominica Real Estate Investment Options in 2023

Have you considered a change of residence? There is an easy way to move to an island with a great climate – Dominica real estate investment. The unique landscapes and the convenient location between the French islands of Guadeloupe and Martinique open up broad horizons for new citizens: living, studying, working, and more.

The island has a program for obtaining Dominica citizenship by investment. It provides access to new markets (the ability to buy housing, rent), higher education institutions, quality health care system.

What is worth paying attention to when investing in real estate in Dominica? Read more about it below:

• a stunning island in the Caribbean Sea;
• comfortable weather all year round;
• a decent standard of living;
• housing prices are lower compared to other Caribbean islands;
• it takes 3-4 months to obtain a Dominican passport for all family members; 
• proximity to the United States;
• flexible tax system.

Those wishing to invest in real estate located in the Caribbean should consider Dominica. The low tourist flow and ideal climatic conditions successfully develop sales.

Individual features

Buy land and real estate on the island are offered on one’s own. According to a specialist/expert of the company Immigrant Invest Victor Esik, popular places to buy housing are Salisbury, the suburb of Roseau, Portsmouth, and Soufrière. Unique resorts, hotels, villas, and eco-houses are in demand by tourists and visitors. In addition, it is possible to take advantage of a special program Dominica property investment. The government develops it. The client can become a citizen of the island and receive a certifying document after investing in the purchase of the real estate of 200,000 dollars and above. A little nuance: the investment should be kept three years from the date of granting citizenship; reselling the property is possible only after five years. 

The lack of a large flow of tourists makes the island attractive to buy a home. Land prices compare favorably with other islands. There is an opportunity to purchase shares of unique resorts and operate hotels according to approved projects of the government. It will allow you to receive a monthly income without going into management details. 

Benefits

It takes up to 6 months to get citizenship when you buy an approved property. So what’s in it for you? Let’s take a closer look:

1. Opportunity to become a citizen of another country. The procedure is confidential and can take place remotely. It is not necessary to reside in the country.
2. Citizenship for the whole family. The investor’s spouse, parents, children under the age of 30, brothers, and sisters under the age of 25 can obtain a passport. There is no need to give up your first passport.
3. The possibility of year-round accommodation and recreation on the island. There are prospects for the business. 
4. Preferential conditions for education. Schools and universities in Britain offer favorable conditions for the education of children.
5. Travel opportunities to more than 140 countries are open. 
6. Obtaining a tourist visa to the U.S. for an extended period.
7. Flexible tax system. 

Due to recent events (geopolitical crisis, world pandemic), demand for real estate has increased significantly. The island is one of the best places for remote work, relaxation, and permanent residence.

Make a purchase

Dominica has a poorly developed coastline, and there are no large flows of tourists, so real estate prices are more affordable to investors. However, finding the best option can be difficult. You can get detailed information about real estate investment in Dominica by clicking on immigrantinvest.com. It will eliminate the chance of fraudulent, unprofitable investments.

The following steps will be required:

• Find real estate (on your own or through an agency);
• Work with a lawyer to draw up a contract of sale in your name;
• resort to the services of an inspector, who will estimate the cost of acquisition, prepare documents for the transfer of ownership;
• the lawyer’s submission of documents to the Land Registry;
• registration of the new owner.

Through your agent, you should contact the Citizenship by Investment Unit. It provides advice, fills out the necessary documents, and coordinates important meetings. 

The costs include transaction expenses:

• insurance fund commission – 1%;
• court costs – 3% (15% VAT may be charged);
• court costs – 4%;
• stamp duty – 4%;
• assessment fee.

A check is performed (with the participation of Interpol and JRCC). If the decision is favorable, the government gives your agent a certificate of immediate citizenship. Then, you can apply for the paper.