Step 1 - Reservation Form
The investor signs a reservation form and submits a deposit of $22,000 against the investment of $220,000 to secure their interest in the investment. Range Developments can assist the investor with selecting a service provider to process the application.
Step 2 - Application Forms & Document Submission
The investor collates the required documents and completes the required application forms with the assistance of their service provider(s). Processing fees and due diligence fees ($7,500 for the main applicant, $7,500 for the spouse, $4,000 for each dependent above the age of 16) must be paid along with the application directly to the service provider. The investor will execute the Sale & Purchase Agreement at this stage.
Step 3 - Application Processing & Payment
Application processing takes approximately 90-120 days from filing an application. Within 7 days upon approval of the application, the investor will pay the remaining balance of $198,000 and applicable government fees and share registration fees. Range Developments will issue an Ownership Certificate to the investor.
Step 4 - Closing and Transfer
Proof of ownership will be submitted to the government and the Citizenship Unit will issue the Certificate(s) of Citizenship and subsequently Passport(s). This usually takes 3-4 weeks.
Under the most recent regulations (dated 23rd October 2014), there is no requirement to have an interview prior to Citizenship or to visit or reside in Dominica.