The Commonwealth of Dominica is an island nation in the Lesser Antilles region of the Caribbean Sea with a population of 73,126 and an area of 751 sq. km. An English-speaking country, Dominica was a British colony until its independence in 1978. Often referred to as the "Nature Island", tourism and agriculture are large contributions to the country's economy.
On November 3, 1493, Christopher Columbus named the island after the day of the week on which he spotted it, a Sunday (“domenica” in Italian). The island is literally covered with thick green jungle, punctuated by sharp-edged volcanic peaks, mountains, lakes, rivers, hot springs and waterfalls and a wide variety of green vegetation and wildlife. It is a popular cruise destination and a magnet for hikers and nature enthusiasts. The offshore reefs attract divers from around the world.
This is a unique benefit provided by the Developer that allows the Buyer/Investor to maintain 100% of the value of his purchase/investment while enjoying the property as a vacation destination and/or receiving receiving rental income during the first five years of ownership.
At the fifth year, the Buyer/Investor may elect to sell his property back to the Developer or a third-party Surety Company at 100% of his original purchase price.
If the Buyer/Investor desires, for whatever reason, to sell his property back to the Developer, he simply notifies the Developer after the fifth year of purchase and within six months of that date that he wants the Developer to repurchase at 100% of the original purchase price.
The Developer then decides to repurchase the property at 100% of the original purchase price or the Developer informs the Surety Company that the Surety Company must repurchase the property.
The Developer has secured a buy back contract from a third-party Surety Company. This provides the Buyer/Investor with a safety net with the Surety Company’s contract to repurchase in the event the Developer elects not to repurchase. This added benefit is provided at the Developer’s expense.
The Surety Company has over $2 billion in assets and is in the business of surety and real estate buy back programs. The Board of Directors range from a hotel and real estate expert who held a senior position at Marriott Ritz Carlton Hotel Group to its Chairman of the Board, a retired US Naval Officer specializing in IT who developed the Atlantic Strike Force Command’s secret internet portal.
The buy back contract is quite simple, the only stipulations being that the title is free and clear of any encumbrances; all assessments, fees, levies and taxes are paid; and the property has been maintained to market standards. Closing costs and title transfer fees are deducted from the sales amount.
The Buyer/Investor who would like his investment returned has that opportunity and therefore would be gaining citizenship for literally no investment cost. Additionally, the investor will have the rental income during his holding period yielding a positive return.
About Dominica
Dominica, officially the Commonwealth of Dominica, is an island country in the Lesser Antilles region of the Caribbean Sea, south-southeast of Guadeloupe and northwest of Martinique. Its area is 750 square kilometers (290 sq mi). The island has lush mountainous rainforests, is distinguished by geothermal hot springs, and is the home of many rare plants, animals and bird species.
People
The population of Dominica is approximately 72,000. Roman Catholics account for 53% of the population, with a further 33.2% Protestants and 13.8% Anglicans.
Language
English is the official language. French patois is spoken widely and 96% of the total population is literate.
Weather: When is the best time to visit?
The dry season is usually between January and June, with the wettest months falling between August and October. The peak of hurricane season is late August to early September.
Capital
The capital and largest city of Dominica is Roseau. It is situated on the west coast of the island and has the large percentage of the island’s population. It is the main commercial city and its principal hub of activity. Roseau is the country’s main port and receives hundreds of visitors every week who arrive on the ferries during a break from their Caribbean cruise. It is a colorful town with many colonial buildings and interesting architecture.
Time
The island has a time difference of 4 hours behind GMT, 1 hour ahead of Washington, DC during standard time.
Economy
Although the financial services industry is increasingly becoming its largest source of income, agriculture, with bananas as the principal crop, is still Dominica's economic mainstay. Banana production employs, directly or indirectly, upwards of one-third of the work force. The government has made agricultural diversity a priority. Because Dominica is mostly volcanic and has few beaches, development of tourism has been slow compared with that on neighboring islands. Nevertheless, its high, rugged mountains, rainforests, freshwater lakes, hot springs, waterfalls, and diving spots make it an attractive destination. Cruise ship stopovers have increased following the development of modern docking and waterfront facilities in the capital. Eco-tourism also is a growing industry on the island. The currency is the Eastern Caribbean dollar, which is linked to the US dollar.
How do I get there?
Will I be liable to any taxes in Dominica?
Under the terms of Dominica Economic Citizenship Program, you will not be liable to any wealth, gift, inheritance, income tax, foreign income or capital gains tax if you are non-resident. You are only liable to pay personal tax if you reside in the country.
Copyright © 2023 Grande Property. All rights reserved. Web Design by PWS.