Dominica is a popular destination for migrant investors. It is due to the simple and precise requirements of the region and the significant advantages. Buying an apartment can bring more than just income. Invest in property in Dominica and get citizenship is a great way to gain new opportunities and increase international mobility.
Get citizenship in Dominica in exchange for purchasing real estate is a simple and affordable way. The minimum purchase cost must be $200,000. It is important to note that the choice is available from properties approved by the local authorities. There are a lot of options. Apartments, houses, and parts of hotels are offered throughout the territory. This land has fair pricing on the Caribbean real estate market.
There is good news for those interested in Dominica real estate investment. First, the country exempts foreigners participating in the program from the requirement to have a special permit. Moreover, the cost of premises increases annually by 4%, which will allow you to earn on rent or sell the property more expensive in the future.
Why should you choose Dominica?
There are several reasons to choose this region:
- the lowest cost compared to similar territories;
- citizenship status not only for the investor but also for relatives;
- short deadlines for preparing documents;
- tax freedoms;
- democratic prices of living;
- low crime rate;
- the growth trend in all spheres.
Considering the unstable political situation, you can always consider a second passport as a safety net. In addition, having your place on the island, you can ideally spend your vacations or trips here. The moderate pace of life of dominicans and the unique landscapes have a beneficial effect on the nervous system and health in general.
If you are interested in Dominica real estate investment on its territory is worth the advantages the country offers. New citizens have the opportunity to travel around the world without obstacles. The state has a visa-free regime with more than a hundred regions. Foreigners can apply for a visa to the USA for ten years. Tourism is the most frequently chosen area to profit from buying real estate, as it is growing. Villas, hotels, bars, and restaurants offer an opportunity to get a paper and make money.
Step-by-step process
The company’s specialist Immigrant Invest Victor Esik says that the requirements for foreign investors are clear and simple. When you decide about the purchase, the steps are the following:
- choose an object;
- conclude an agreement with a notary to carry out the purchase and sale;
- negotiate the pledge;
- hire a specialist to evaluate the object and prepare the papers necessary to transfer the rights;
- registration of the property rights.
Migrants often turn to special agencies to avoid possible mistakes. Specialists take care of the bulk of the work and help the client go this way with minimal time and money. The purchase of real estate involves paying all necessary fees and penalties.
As for restrictions on the sale, the property must be owned by the investor for a minimum of three years after obtaining documents to maintain citizenship. During this period, only citizens of the region can be your customers, but after five years, foreign citizens can become potential clients for you. During this time, the price of the apartment will increase by about a fifth of its original value.
It is not necessary to visit the island to invest in real estate in Dominica, the whole process can take place remotely, and the investor will receive the documents by mail. It is a proven and safe way.
Conclusion
Dominica property investment is available to all foreigners. For example, a purchase of $200,000 can make you a citizen of the region. The scheme for obtaining citizenship is transparent and clear. Apartments or premises must be selected from a list of approved by the land authorities. It is good practice, as it minimizes the risk of encountering unscrupulous sellers or developers.
Citizenship in exchange for investment allows getting the necessary paperwork to the lead applicant and relatives. In addition, it is allowed to rent out the property immediately after purchase. The sale is available after three years. Otherwise, the document is cancelled.
The benefits of Dominica real estate investment are tangible. The favorable tax environment, a visa-free regime with many countries, a beneficial climate, a low crime rate, and the opportunity to increase your capital explain the popularity of this land among foreign migrants. In addition, the region is the most affordable in terms of housing costs compared to neighboring states. It is worth considering this island if you are thinking about getting a second passport.
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