Dominica: A Wealth Of Benefits

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

United Airlines flies daily to the jurisdiction from Miami; and the Cabrits Resort Kempinski and the boutique Hotel Secret Bay have started welcoming tourists again.                                      

Dominica’s CIP Offering

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 140 countries and territories, and the ability to pass citizenship down to future generations.

Over the last four years, Dominica has been ranked as the best destination for second citizenship by experts at the Financial Times' PWM magazine. Furthermore, the Citizenship by Investment Unit (CBIU) introduced a remote filing process following the Hurricane Maria period and all filing during the COVID era 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 by redefining the qualification dependants, granting the possibility of adding new dependants at the post naturalisation period.                  

Post-Citizenship support services are available to all newly adopted citizens, including driving licence, tax, and social security registrations just to name a few. Sophisticated investors who do not choose the jurisdiction for the international mobility that citizenship offers, may instead opt for advantageous tax and estate planning solutions.

An Ideal Hub For Vessel Registration                                                                                   

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 with 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 the owners is to allow private yachts to charter out for a period of up to 84 days. This gives 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.

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

Tel. No. DOMINICA: +17672751888

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.