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The Economic Diversification Fund (EDF) was established through the Citizenship by Investment Programme as one component of a national capital mobilization portfolio, with the goal of national development for Dominica.
Generated funds are utilised for public and private sector projects where a need is identified. Public sector projects identified for financing under the Programme include, but are not limited to, (1) the building of schools, (2) hospital renovations, (3) the building of a national sports stadium, and (4) the promotion of the offshore sector. With respect to private sector projects, the Government’s focus is on tourism, information technology, and agriculture.
Minimum Contribution Requirements
To qualify for citizenship under the EDF option, the following contribution amounts are required, depending on the number of dependants included in the application:
In addition to the contribution made into the EDF, certain fees are also payable including, but not limited to, due diligence fees.
Candidates applying under the Government donation option must agree to pay the total amount specified by the program within 30 days of receiving an Approval in Principle letter from the CBIU. Until the applicant has passed the due diligence phase and is officially approved in principle, however, they are not required to actually make the contribution. Upon formally receiving conditional CBIU approval, donations are deposited by wire transfer into a designated governmental escrow account at the National Commercial Bank of Dominica. If an application is rejected or withdrawn, the candidate will be refunded the entire deposit amount minus a small application fee within one month of the rejection or withdrawal. Immigration Consultant’s processing and consultation fees will be in accordance with refund policy of the company. If the application is successful, the money will be removed from the escrow account by the Government only after an Oath of Allegiance has been signed before a Notary Public and naturalization certificates as well as passports have been issued to the principal applicant and their family.
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Disclaimer: VisaAffix Services L.L.C. provides consultancy services to clients for temporary as well as permanent residency visa-related matters and deals with documentations and filing applications. It is neither a legal firm nor does it provide any kind of legal advice/assistance or suggestions to its clients/users/visitors. The information presented on our website should be used for reference purposes only and not as a substitute for any professional advice.