Dominica and St Lucia compete for the ‘cheapest’ second passport program in the the World. Both countries run citizenship by investment program which is priced at $100,000 under donation route.
Dominica CIP established since 1993, whereas St Lucia launched in 2015, reformed their CIP in 2017 to compete with Dominica for $100,000
However there are subtle differences between the two programs:
- Investment amount: $100,000 same for St Lucia and Dominica (donation route)
- Processing time: The passport processing time for Dominica is over 6 months, whereas St Lucia, is much faster 3 months. Hence St Lucia is much faster.
- Family citizenship: Family citizenship with St Lucia is little cheaper than Dominica under donation route. There is a $10,000 difference with St Lucia ($165,000 for main applicant with spouse) and Dominica ($175,000 for main applicant with spouse).
- Real Estate: Dominica requires $200,000 for citizenship through approved real estate investment. St Lucia requires $300,000 for citizenship under real estate option. Hence Dominica is cheaper compared to St Lucia.
- Fees: St Lucia charges processing fee $2000 per applicant, whereas Dominica charges $3000 per application. Both countries charge $7500 due diligence fees, but for children under 16, Dominica charges $4000 whereas you have to pay $5000 with Lucia
- Passport validity: St Lucia passport valid for 5 years, Dominica passport valid for 10 years until expiry
- Government bonds: St Lucia offers citizenship through purchase of $500,000 Government bonds (limited issue), whereas Dominica does not have this provision.
- Business Enterprises: St Lucia has option to receive citizenship through joint enterprise investment with each investor needs to contribute $1,000,000. Dominica does not have business investment option for citizenship.
- Visa free travel: Dominica has visa free travel to 119 countries, St Lucia has 127 countries, according to Henley visa index 2017.
- Geography: St Lucia is more mountainous whereas Dominica is full of waterfalls, rain forests.
- Population: St Lucia (184,000) almost 2.5x times has more population than Dominica (72,385)
Here are a quick summary of CBI programs in the Caribbean
- Dominica – $100,000 (donation)
- St Lucia – $100,000 (donation)
- St Kitts and Nevis – $150,000 Hurricane fund or $250,000 (donation includes $50,000 Government fee)
- Grenada – $150,000 (donation)
- Antigua and Barbuda – $100,000 (donation)