South Africans are looking to for a second citizenship
“A great many affluent South African citizens are looking to either move overseas now or gain a second citizenship and passport as a contingency plan for the future. Many ask which plans should they consider,” relates Stefano Migliore, Executive Director of Harvey Law Group’s, South Africa office.
What are the Caribbean countries offering citizenship by investment?
South Africans and their families can gain many advantages from a second citizenship and passport. Among the Caribbean nations listed above, Dominica is particularly popular at the moment.
What is Dominica like?
What is the cost of Dominican citizenship by investment?
There are two methods for obtaining Dominican Citizenship-by-Investment (CBI One option is a government donation, which requires a financial commitment of at least USD 100,000 for a single applicant. This is one of the lowest investment requirements for a CBI program for an individual in the world.
Can I include my family?
There are several significant advantages to Vanuatuan citizenship for South Africans.
The processing time is usually only two to three months if all papers are in order.
Is it possible to gain citizenship by investment in property, especially real estate, or other property ownership?
Yes, the other approach to obtaining citizenship by investment is purchasing authorized real estate valued at least USD 200,000 and retaining ownership for a minimum of 3 years. Of course, with the real estate option additional fees may apply, such as due diligence, application costs, processing fees, and other government fees.
However, as this is an investment, the applicant may eventually expect to get their money back and often a solid return on the investment as well.
Can I hold Dominican and South African citizenship at the same time?
Yes, Dominican citizenship is for life and covers future generations. Dominica permits dual citizenship, which can be a significant advantage for South Africans not wishing to give up their citizenship of their original home country.
What other Advantages are there for Dominican citizenship?
There are some other substantial advantages to Dominican citizenship for South Africans. The advantages will be discussed below.
What is the level of taxation in Dominica?
The first advantage is related to taxation. The tax regime is very attractive with no capital gains or inheritance taxes. If you are a non-resident, you pay personal tax only on income earned in the country.
Is a Dominican passport a good one?
Travel mobility is often a highly prized benefit, particularly by South Africans. A Dominican passport gives access to over 140 countries visa-free or with visa on arrival. This number is a great deal more than a South African passport and makes travel a lot easier.
Can I travel to Europe without a visa on a Dominican passport?
Yes, on the list of additional countries a Dominican passport holder can travel to, the list includes most of Europe (the Schengen group) and the United Kingdom. Dominican passport holders are even eligible to apply for an e-visa for Australia in advance of travelling.
The passport also enables you to not only work, study and live in Dominica, but in any of the other Caricom countries as well. You can, of course, continue to live and work in South Africa or in any other jurisdiction where you have residency rights.
What other requirements are there for Dominican citizenship?
The requirements for Dominican citizenship are very straightforward. There is no language requirement and as commented earlier, there is no residency requirement. In addition, there are no professional or educational requirements.
What is the processing time for applications?
You must submit your application through an authorized agent you need to include all the documents properly to get them processed quickly.
It is recommended to consider getting professional advice because of the details, the documentation, questions you may have, and the requirement to submit through an authorized agent.
Where can I get advice?
Contact Harvey Law Group with your questions.
Harvey Law Group (HLG) is an international law firm with 30 years’ experience in immigration law and offices all over the world, including South Africa. HLG is happy to answer any questions you may have. You can find details of real estate projects in Dominica for investment that have been pre-approved by the government on their website.