The Dominica Economic Diversification Fund (EDF) was established in 1993 by the Dominica Government. The aim of the program is to support the country’s socio-economic initiatives and drive the country’s development. The fund was established as a route of investment under the country’s Citizenship by Investment Program and offers investors the opportunity to obtain citizenship in exchange for a non-refundable minimum contribution of $200,000 to the fund.
The Economic Diversification Fund’s Tasks and Goals
The Dominica EDF is regulated by Section 101 of the Constitution of Dominica, the Citizenship Act, and Dominica’s economic citizenship regulations. As such, money contributed to the fund is used to develop the country by improving its infrastructure, medical facilities, and more.
Dominica citizenship by investment is a popular route to become a Dominica citizen. In fact, the Dominica citizenship program is the country’s main revenue generator for Dominica’s 2022/2023 $1.2 billion budget and raised over $450 million in 2021 and 2022.
How Dominica’s EDF spends investors’ financial contribution
Money generated from foreign nationals’ contributions to the fund is used to:
- Construct new homes that are earthquake resistant
- Protect against flooding by deepening rivers, building river dams, and building structures to regulate drainage
- Repair and build airports, bridges, and roads
- Improve education facilities and opportunities
- Provide job opportunities and financial support for local businesses
- Improve citizens’ access to clean drinking water
- Develop renewable energy sources
Benefits of Contributing to Dominica’s Economic Diversification Fund for Citizenship
Most affordable option for a single applicant
A significant contributor to Dominica’s CBI Index vote as the best CBI program is, for Caribbean CBI program applicants, Dominica’s citizenship program is one of the most affordable options for a foreign national to obtain Dominica citizenship as the minimum investment amount is $200,000.
Development of Dominica’s public infrastructure
Money from the fund is used to develop and improve local infrastructure to create a safer, more efficient, and greener environment. The fund is used to support public and private sector projects that work to build schools, renovate hospitals, and have even helped to create a national sports stadium. Additionally, money generated by the fund is used to provide financial support to the country’s tourism, information technology, and agricultural sectors. Contributions have already been used for infrastructural development of the country’s Douglas Charles International Airport.
Streamlined application process
The EDF application process to gain economic citizenship in Dominica is streamlined, with approvals for the main applicant and dependent children taking up to six to nine months after being filed with the government.
Take a look at our Dominica Citizenship by Investment Ultimate Guide
Financial Requirements for Dominica’s Economic Diversification Fund Contribution
In order to acquire Dominica citizenship by making an investment in Dominica’s Economic Diversification Fund, applicants must make a non-refundable contribution in accordance with the requirements of the fund set by the Dominican government. This amount to qualify for Dominican citizenship will vary based on the number of dependent family members, as outlined in the table below.
Applicant Category | Minimum Contribution Requirement (USD) |
Main applicant | $200,000 |
Main applicant and up to three dependents | $250,000 |
Additional dependents under 18 | $25,000 each |
Additional dependents 18 years or older | $40,000 each |
Additional EDF Fees
In addition to the minimum contribution amount, you will also need to pay costs such as government fees or processing fees, due diligence fees, a certificate of naturalization fee, and a passport fee. Again, these costs will vary depending on the number of applicants.
Processing fee
$1,000 per applicant
Due diligence fee
$7,500 for the main applicant
$4,000 for the spouse and each dependent over 16
Applicants who are Iranian citizens or permanent residents must pay the following enhanced due diligence fees:
$25,000 for the main applicant
$15,000 for the spouse and each dependent over 16
$10,000 for dependents aged 2 to 15
Mandatory interview fee
$1,000 per applicant over 16
Certificate of Naturalization fee
$500 per applicant
Note: Additional donations are not required for a main applicant to include an additional dependent for legal citizenship when choosing the real estate option. The total minimum EDF contributions, including applicable fees, are specified in United States dollars (USD), but the government also accommodates payments made in euros (EUR) or pound sterling (GBP), provided the sum meets or exceeds the USD amount on the day.
Economic Diversification Fund Payment Information
As the applicant, you are responsible for paying the full contribution amount under the laws and regulations that govern Dominica’s Citizenship by Investment Program. Eligibility for Dominica citizenship by EDF investment requires the payment to be made as a bank transfer, and you must make sure to pay any applicable local and Dominica bank charges to ensure the Dominica government receives the complete EDF contribution amount.
Fortunately, one of the benefits of contributing to Dominica’s EDF is you will only be required to pay your contribution amount once the government has approved your citizenship application.
Important note: While the Economic Diversification Fund contribution amounts are expressed in United States Dollars (USD), Dominica’s government will also accept payments in Euros (EUR) and Pound Sterling (GBP).
Application Process
Step 1: Discussion with our success team and obtain a proposal
Obtain a proposal that details all costs and fees associated with your Dominica EDF investment application submission.
Step 2: Start the onboarding process
The team at Global Citizen Solutions will help you prepare your application forms and gather all the necessary supporting documents to acquire Dominica citizenship through Economic Diversification Fund. Make sure to notarize and certify documents as needed.
Step 3: Application review
We will review your citizenship application and supporting documents to ensure everything is in order to officially submit your application.
Step 4: Due diligence
Submit your documents required for due diligence.
Step 5: Application submission
Submit your application to the Dominica Citizenship by Investment Unit and pay the necessary processing fees.
Step 6: Approval
The Dominica Citizenship by Investment Unit will assess your application in accordance with various requirements, such as passing a background check, and decide on the success of your application. It generally takes about six to nine months from the date of submission to the issuing of your passport.
Step 7: Final invoice
Your final invoice will be issued to begin the Dominica Economic Diversification Fund contribution process. You will be required to pay your contribution amount, as well as the remainder of the government processing fees.
Step 8: Issuing of passport
Your passport and Certificate of Registration (COR) will be issued. This generally occurs within one month of you making your investment payment.
Step 9: Receive documents
Your Dominica passports and COR will be couriered to you.
Benefits of Obtaining Dominica Citizenship
Obtaining a Dominica passport under the Dominica economic citizenship program comes with a number of benefits. For example, Dominica passport holders can enjoy visa free travel to 146 countries, including the European countries in the Schengen area, Hong Kong, Singapore, China, and Russia.
In addition to this, Dominica citizens can benefit from Dominica’s favorable tax environment, with no capital gains tax, tax global income, and no wealth or inheritance tax. Dominica dual citizenship is also permitted, meaning you will not have to give up your current passport once you acquire this second citizenship. Finally, Dominica has no stay or visitation requirements to maintain citizenship, which is particularly attractive if you travel a lot for work or are not yet ready to relocate.
Another answer to how to invest in Dominica’s economic growth and obtain Dominican citizenship under Dominica’s economic citizenship program is by making a real estate investment. A single applicant can purchase pre-approved real estate in the Caribbean island nation to the minimum value of $200,000.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Frequently Asked Questions about the Dominica EDF Fund
What is the Economic Diversification Fund Dominica?
The Dominica National Development Fund or Economic Diversification Fund is a government fund established under the Dominica Citizenship Act. An applicant can become a Dominica citizen by making a non-refundable minimum contribution of $200,000 to sustainable development projects funded by Dominica EDF.
Money generated from the fund is used to support the country’s socioeconomic development through public and private projects improving infrastructure, education, and renewable energy, and up to now, the impact of EDF investments on Dominica’s economy has been profound.
How much does the Economic Diversification Fund cost?
To acquire citizenship through a non-refundable contribution to Dominica’s EDF, a single applicant must make a government fund contribution of $200,000, driving national development in the country. In addition to this required Dominica investment, you will need to pay due diligence fees, processing fees, a passport issuance fee, and a certificate of naturalization fee. The cost of this route to citizenship will vary depending on the number of applicants.
The second investment option in the Dominican citizenship by investment program of purchasing real estate requires a minimum investment of $200,000, with no additional investment requirements to include a spouse, children, or dependent parents besides an addition government and due diligence fee.
How can I get a Dominica passport through the EDF?
You can obtain a Dominica passport through the country’s Citizenship by Investment Program. You have two options under the CBI program: Make a minimum financial contribution of $200,000 to the Economic Diversification Fund or alternatively, invest at least $200,000 in a pre-approved Dominica property. In addition to a minimum investment, you will also need to meet certain requirements during the due diligence process to be granted citizenship, such as having a clean criminal record.
Once you are a Dominican citizen, you can enjoy visa free access to over 140 countries, dual nationality (maintain your original nationality alongside your Dominica nationality), and several financial advantages as a Dominica tax resident, such as no foreign income tax or capital gains and inheritance taxes.
What are the benefits of obtaining Dominica citizenship through the EDF?
Contributing to Dominica’s Economic Diversification Fund provides investors with a streamlined and efficient pathway to acquire Dominican citizenship, bypassing the need for extensive residency requirements or significant business investments.
Moreover, investors can have confidence that the various socio economic initiatives funded by Dominica’s Economic Diversification Fund, including private sector and public sector projects in infrastructure and education, and renovating hospitals, actively contribute to the economic and social progress of the Commonwealth of Dominica.
Who manages the Dominica Economic Diversification Fund?
The Dominica Economic Diversification Fund (EDF) is managed by the Dominica Government through the Citizenship by Investment Unit (CIU). The CIU oversees the country’s economic citizenship program, including processing applications, carrying out due diligence checks, and managing contributions to the EDF.
What is the benefit of economic diversification?
Economic diversification increases resilience to external events, enhances stability, and sustains long-term growth. By diversifying their economies through various development projects, governments reduce their dependence on a single sector or revenue source, mitigating risks associated with fluctuations in commodity prices, market demand, or geopolitical factors.
How transparent is the funding and allocation process of the Dominica Economic Diversification Fund?
Dominica’s EDF operates under government oversight, ensuring adherence to legal and regulatory frameworks by publishing regular reports detailing its activities, expenditures, and contributions. These financial reports are accessible to the public and promote transparency. Entities such as the Organisation for Economic Co-operation and Development (OECD) establish global transparency norms, which countries offering Caribbean citizenship programs must meet to uphold their integrity.
