Dominica’s Citizenship by Investment Unit has issued a list of policy updates to its authorized agents. The update includes, among other amendments, a reduction in the processing fee from $3,000 to $1,000, and a reduction of the Certificate of Naturalization fee from $750-$1,000. Furthermore, dependants may now be as old as 30 years of age, subject to certain conditions (see full statement below).
While some agents have been disseminating information to that effect, the update does not mention any reduction in the contribution requirements. In response to the unfounded rumors, the Dominican CIU issued a statement saying that authorized agents “disseminating such information are warned that they may lose their license.”
Via the Dominica Citizenship by Investment Unit:
Updates to the Programme
For applications submitted effective immediately until March 31, 2018:
I. Age of Child Dependants
The maximum age of qualifying child dependants is increased to thirty years, as follows:
The meaning of “dependant” in Regulation 2, paragraph (c) of the Principal Regulations is amended to “a child of the main applicant or his or her spouse between eighteen and thirty years who is in full time attendance at a recognised institution of higher learning after his or her eighteenth birthday and fully supported by the main applicant;”
Regulation 4, paragraph (13) of the Principal Regulations is amended to “An applicant who is applying as a dependant of a main applicant between the age of eighteen and thirty years, in Higher Learning, shall submit official transcripts from a recognised Institution of Higher Learning or a duly notarised letter from the competent authority confirming the applicant’s existing enrolment at that Institution of Higher Learning.”
The meaning of “dependant” in Regulation 2, paragraph (d) of the Principal Regulations is amended to “an unmarried daughter of the main applicant who is aged thirty years of age or under, and is living with and fully supported by the main applicant;”
Following the above amendments, a child aged thirty will be accepted under the Citizenship by Investment Programme, while a child aged thirty-one will not be accepted as a qualifying dependant.
II. Age of Parent of Grandparent Dependants
Where a parent or grandparent is fifty-five, but his or her spouse is aged less than fifty-five, both the parent or grandparent and the spouse will qualify as dependants, as follows:
The meaning of “dependant” in Regulation 2, paragraph (f) of the Principal Regulations is amended to “any parent or grandparent of the main applicant or his or her spouse aged fifty-five or over, living with and fully supported by the main applicant, as well as the spouse of any such parent or grandparent, irrespective of that spouse’s age;”
III. Child Born After Approval in Principle
The Schedule of the Principal Regulations is amended in paragraph (1)(2)(d) to “on registration of a child who is not more than five years of age and who was born to the applicant after citizenship has been obtained, a processing fee of US$500.”
IV. Due Diligence Fee for Spouses
The Schedule of the Principal Regulations is amended in paragraph (1)(2)(c)(ii) to “US$4,000 for processing fees and due diligence checks on each applicant who is over the age of sixteen, including the main applicant’s spouse,”
V. Processing Fee
The US$3,000 processing fee is reduced to US$1000 for the submission of applications under the Citizenship by Investment Programme.
VI. Certificate of Naturalisation Fee
The Certificate of Naturalisation Fee is reduced from US$750 per certificate to US$250 per certificate.
VII. Adding a Dependant Prior to Approval in Principle
The main applicant may request for a qualifying dependant to be included in an application that has already been submitted to the Citizenship by Investment Unit, but that has yet to be approved in principle. The request shall be granted by the Citizenship by Investment Unit so long as all relevant fees are properly paid, and so long as, where necessary, forms and investment thresholds are amended to include the new dependant. The Citizenship by Investment Unit reserves the right to deny an application on the basis that the added dependant does not pass its due diligence checks.
VIII. Removing a Dependant After Approval in Principle but Prior to Payment of the Investment
The main applicant may request for a dependant who was approved in principle as part of his or her application for citizenship by investment to be removed from that application, so long as the request is submitted in writing to the Citizenship by Investment Unit prior to the full payment of the investment. The Citizenship by Investment Unit shall review the request and, upon its discretion, determine whether to remove the dependant from the application. The main applicant will receive no reimbursement of fees, including any due diligence or processing fee, as a result of the removal of a dependant from his or her application.
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 14 years in the United States, China, and Spain.