Dominica: Welcoming World Citizens Since 1993

COVID-19 impacted the tourism industry. However, due to the immediate response of the government, local COVID cases were minimised and the death rate due to COVID is zero.

United Airlines flies daily from Miami. Currently the InterContinental Dominica Cabrits Resort & Spa, and the boutique Hotel Secret Bay, have been welcoming tourists again. A new international airport is under construction, planned to finish by 2026.

Since 1993, Dominica has been welcoming foreign investors to become citizens of the island with full rights by making an economic contribution to a government fund, and since 2015, via investment in government-approved real estate options. Known as the Citizenship by Investment Programme (CIP), successful applicants unlock a wealth of benefits, including increased travel freedom to over 150 countries and territories, and the ability to pass citizenship down to future generations.

Over the last six years, Dominica has been ranked the best destination for second citizenship by experts at the Financial Times' PWM magazine. Furthermore, the Citizenship by Investment Unit (CBIU) has introduced a remote filing process since the Hurricane Maria period, and all filing during the COVID era has proved swift and smooth.

The entry level for the CBI Programme is US$100,000 for the Government Fund, and US$200,000 for the Real Estate option. Both are cost-effective solutions, and the Dominica CBI option has changed the lives of many persons around the globe. Recently, enhancements were brought to the programme, introducing mandatory interviews and redefining the qualification dependents, granting the possibility of adding new dependents at the post-naturalisation period.

Post-citizenship support services are available to all newly adopted citizens, including Tax and Social Security Registrations to name a few. Sophisticated investors who do not choose the jurisdiction for the international mobility its citizenship offers, may opt for advantageous tax and estate planning solutions.

Dominica also runs a very successful Ship and Yacht Registry. Registering a vessel under the Commonwealth of Dominica is efficient, straightforward, and cost-effective. Dominica Maritime Registry provides the client administrative and technical support throughout the complete process. The Registry offers owners cost-effective vessel registration with no tonnage tax or size restrictions.

Dominica Maritime Registry has many convenient international locations to process registrations quickly and electronically to maintain cost-effectiveness. One of the main advantages it offers to owners is to allow private yachts to charter out for a period of up to 84 days. This will allow yacht owners the ability to recoup some of the operational costs associated with ownership. This chartering privilege exempts the yacht from having to be registered as a commercial yacht.

The Registry also provides a free self-inspection programme to help yacht owners ensure safety on their craft. Dominica International Maritime Registry offers technical and statutory services to their fleet of vessels. Their global network of inspectors and surveyors allows for easy survey coordination at competitive pricing.

Vardikos & Vardikos

Address:
Athens Office:
4 Koumbari Street,
Kolonaki Square,
Athens, 10674 Greece

Dominica Office:
36 Great George Street Roseau
Commonwealth of Dominica
00112 West Indies

Antigua & Barbuda Office:
Suite No. 4 Woods Centre
Friars Hill Road, P.O. Box W1516,
St. John’s, Antigua, West Indies

St Lucia Office:
20, Micoud Street, Castries
P.O. Box 189, Saint Lucia

Cyprus Office:
Flat 210
2-4 Arch. Makarios III Av.
1065 Nicosia, Cyprus

Tel. No. GR: +306932488888 | +30 210 3627888-9 | +30 210 361 1505

Emergency telephone number +306934555555

Tel. No. DOMINICA:
+17672751888 | +17672853888

Tel. No. UAE:
+971506689558

Tel. No. MALTA:
+35699884534

Tel. No. Cyprus:
‭+357 99 202422‬ |‭ +357 22 332040‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Email: info@vardikos.com | dominicaservices@vardikos.com | stlucia@vardikos.com

Website: www.vardikos.com

Christos Vardikos
Christos is an Athens based Attorney at Law and the Consul a.h. for the Commonwealth of Dominica in the Hellenic Republic. He manages the boutique law firm Vardikos & Vardikos with associated offices in Cyprus, and Dominica. The firm mainly represents foreign interests in Greece and internationally. In addition, he is an approved Government Authorized Agent/Service Provider for the Citizenship Program of the Commonwealth of Dominica, Vice President of the Consular Corps in Greece, and he assists the government with strategic consulting for investment-related residence and citizenship programs.