Commonwealth of Dominica Was Established in 1993

C O M M O N W E A L T H O F D O M I N I C A

I N A S S O C I A T I O N W I T H A T T O R N E Y S A N D C O U N S E L O R S A T L A W , Lennox Lawrence Chambers T A X C O N S U L T A N T S

T H E E C O N O M I C C I T I Z E N S H I I P O F T H E C O M M O N W E A L T H O F D O M I N I C A I N D I V I D U A L F R E E D O M V I S A F R E E T R A V E L B U S I N E S S A D V A N T A G E S

Instant and Irrevocable Citizenship Instant travel to more than 130 Dominica is a signatory of double taxation treaties with Dual Citizenship without the Countries including Schengen the USA and the CARICOM requirement to notify Visa Countries of Europe, the Duty Free Trading in Caribbean the applicant’s home country United Kingdom, Singapore, Tax Free Status - on Foreign Income, Capital Gains,Gift, No mandatory travel or Hong Kong and Ireland. Wealth and Inheritance Tax residence requirements Where a visa is required, they Currency is pegged to the US dollar, which Passport Validity are relatively easy to obtain. provides certainty and stability in exchange transactions Open to most nationalities Passport Validity No Personal Income tax Privacy and Security The Citizenship by Investment Program of the Economic Citizenship Program of the Commonwealth of Dominica was established in 1993. The citizenship program of the Commonwealth of Dominica requires making an economic contribution to the country. You and your family obtain an irrevocable citizenship for life with no need to reside in the country and most importantly no need to give up your current nationality. The recent evolution is that the European Union abolished the visa requirement for Dominica nationals.

I N V E S T M E N T O P T I O N S

Under current regulations, to qualify for citizenship of the Commonwealth of Dominica under its Citizenship by Investment Program, the Government requires either a contribution made into the Government Fund amounting to USD 100,000 depending on the number of dependents included in the application or an investment in designated Real Estate with a value of at least USD 200,000. E C O N O M I C C O N T R I B U T I O N

To qualify for citizenship under this investment option, there are four investment categories with different contribution amounts, based on the number of dependents included in the application, which are as follows:

*In some cases, an enhanced due diligence may be required depending on the citizenship the applicant holds To qualify for citizenship of Dominica under the Real Estate Option under the Citizenship by Investment Program, an applicant must purchase authorized real estate to the minimum value of USD 200,000.00.

*Currently all government approved projects are marketed at USD $ 220,000.00 **In some cases, an enhanced due diligence may be required depending on the citizenship the applicant holds. In addition, the following government fees are payable for the main applicant and any accompanying dependents: Given that the application procedure under this option entails the purchase of real estate, this can prolong the processing time, which is subject to the chosen property. The real estate must be held for 3 years and may be eligible for re-sale under the Citizenship by Investment Program after 5 years from the original purchase date.

O T H E R A P P L I C A B L E F E E S

Processing Fee US $1,000 per Application Processing Fee US $500 per Child born (not more than 5 years of age) after citizenship of main applicant has obtained Certificate of Naturalization Fee US $250 per person Cost of expedited process for passport US $1,200 per person

I N T E R V I E W P R O C E D U R E S

The Government of the Commonwealth of Dominica has abolished the interview procedure for all applicants of the Economic Citizenship Program. Therefore, applicants are not obliged to fly to Dominica or sustain the cost for the interview in any other place of the world.

The interview procedure is kept ONLY in cases that the Citizenship by Investment Unit might deem, thus an interview is necessary in order to clarify various aspects of the applicant's life and his / her professional activity. H O W T O A P P L Y

S T E P 1 S T E P 2 S T E P 3 A P P L I C A N T ’ S W H E N A L L O F A P P L I C A N T ’ S A U T H O R I Z E D A G E N T F O R M S A R E C O M P L E T E , T H E A P P O I N T M E N T O F P R O V I D E S H I M / H E R A G E N T W I L L S U B M I T T H E A U T H O R I Z E D A G E N T W I T H A S S I S T A N C E I N A P P L I C A T I O N T O V A R D I K O S & P R E P A R I N G T H E D O M I N I C A C O M P E T E N T V A R D I K O S D O C U M E N T A T I O N F O R A U T H O R I T Y A N D W I L L S U B M I S S I O N . L I A I S E T O A L L C O R R E S P O N D E N C E , Q U E R I E S Applications for citizenship Applicant must complete the official O R Q U E S T I O N S O N T H E F I L E cannot be submitted directly forms, attend a medical examination T H A T M A Y A R I S E . and must only be handled by and obtain certain supporting an Authorized Agent. documents, all of which need to be Payment of Due Diligence and An “authorized agent” acts submitted in English and with the Processing Fees must be submitted on behalf of the main appropriate legalization. or Advance Payment in case applicant in relation to a For purchasing property, this will need of a Real Estate application (10% citizenship by investment to be reserved through a sale and of the value that is refundable in application. purchase agreement at case of rejection). this point. H O W T O A P P L Y

S T E P 4 S T E P 5 I F T H E A P P L I C A T I O N I S T H E A P P L I C A T I O N W I L L B E S U C C E S S F U L , T H E N T H E V E T T E D T H R O U G H A T H O R O U G H A P P L I C A N T W I L L R E C E I V E A D U E D I L I G E N C E B A C K G R O U N D L E T T E R I N S T R U C T I N G T H E M T O C H E C K W H I C H W I L L V E R I F Y T H E M A K E T H E I N V E S T M E N T I N F O R M A T I O N T H A T A P P L I C A N T P A Y M E N T ( F O R T H E G O V E R N M E N T H A S P R O V I D E D . F U N D O P T I O N ) A N D / O R T O C O M P L E T E T H E P A Y M E N T O F T H E R E A L E S T A T E P R O P E R T Y . The Dominica competent Authority will consider the file in the light of the due Upon receiving proof of the payment, the diligence report, and will take a decision Authority will issue a certificate of registration which will be able to be used about the application. by the agent to apply for a Dominican Applicant will receive a letter through the passport. authorized agent who will inform the The Applicant/Agent is entirely responsible Applicant whether the application has for the securing of passports. been successful, has been delayed for No government officer or department is further processing or has been rejected. responsible for applying for passports for any individual. R E A L E S T A T E P R O P E R T Y A P P L I C A T I O N P R O C E S S

STEP 1 STEP 2 Reservation Form Application Forms and Document Submission The investor signs a reservation form and The investor collates the required documents submits a deposit of $22,000 against the and completes the required application forms investment of $220,000 to secure their with the assistance of their service provider. interest in the investment. Processing fees and due diligence fees must be The Agent could assist the investor to process paid along with the application directly to the the application. service provider. The investor will execute the Sale & Purchase Agreement at this stage.

STEP 3 STEP 4 Application Processing and Payment Closing and Transfer Application processing takes approximately Proof of ownership will be submitted to the 90-120 days from filing an application. Within government and the Citizenship Unit will issue 7 days upon approval of the application, the the Certificate(s) of Citizenship and investor will pay the remaining balance of subsequently Passport(s). This usually takes 3- $198,000 and applicable government fees and 4 weeks. share registration fees. Real Estate Agent will issue an Ownership Certificate to the investor. This highly reputable program invites investors of good character to make an economic contribution to the country and in exchange, the applicant and their family can obtain full citizenship of Dominica. VARDIKOS & VARDIKOS a Dominica Government Approved Citizenship by Investment Agent, is offering a full service to all prospective applicants. For more information, kindly visit our website at www.vardikos.com H.E. Lennox Lawrence is a Barrister at law, accredited Non-Resident Ambassador of the Commonwealth of Dominica to the Hellenic Republic and Former Ambassador of the Commonwealth of Dominica to the Bolivarian Republic of Venezuela. Christos Vardikos is an Attorney at law and the Consul of the Commonwealth of Dominica in the Hellenic Republic. All the required legalizations, administrations of oaths and fingerprints retrieval can be conducted at our office premises. For more information, please visit the Consulate’s website at www.dominicaconsulategreece.com or http://dominicaconsulate.ae 3 6 G r e a t G e o r g e S t r e e t R o s e a u C o m m o n w e a l t h o f D o m i n i c a 0 0 1 1 2 W e s t I n d i e s + 1 7 6 7 2 7 5 1 8 8 8 d o m i n i c a s e r v i c e s @ v a r d i k o s . c o m

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H.E. Lennox Lawrence Christos Th. Vardikos