Dominica is a parliamentary democracy. The country is governed by a parliament elected every 5 years in free and fair elections. The Prime Minister is the leader of the majority party in parliament.
Dominica became independent in 1978. Before that it had been a colony of the United Kingdom for over 200 years.
The Eastern Caribbean Dollar. It is also used by the other islands in the Eastern Caribbean. The rate of exchange has been fixed at $2.70 to US$1.00 for over 40 years. The currency is therefore very stable.
The Dominica Constitution protects private property from confiscation by Government.
Dominica has an independent and impartial court system based on the United Kingdom model. It shares a Court of Appeal with other member states of the Organization of Eastern Caribbean States and its final Court of Appeal is the Caribbean Court of Justice based in Trinidad and Tobago.
The official language is English but many locals speak a broken French called “Creole”.
Dominica enjoys a 94 percent literacy rate.
Tourism and Agriculture.
There are many ways to get to Dominica, however, these are currently he easiest routes. If you are coming from Europe or the Middle East, you must travel to the United Kingdom then to Antigua or Barbados, then to Dominica. From elsewhere, go to the United States, then San Juan, Puerto Rico then Dominica. International travellers can also go to St. Maarten then to Dominica.
Dominica has two seasons – the rainy season from June to November and the dry season from December to May. In the rainy season, the temperature ranges from 20 to 25 Celsius, and in the dry season from 30 to 38 Celsius.
Dominica is 4 hours behind GMT (GMT -4).
Dominica is one of eight members of the Eastern Caribbean Currency Union (ECCU), which all use the Eastern Caribbean Dollar. The currency is issued by the Eastern Caribbean Central Bank and has been pegged to the US Dollar, at a rate of US $1 to EC $2.7169, since 1977.
Dominica is primarily a tourism and agriculture based economy. The island is known for its exports of coffee, cocoa, bananas, citrus fruits and tropical fruits. It is also known for the manufacturing and exporting of rum, timber, and soap.
From 15 percent to 30 percent.
Yes, 15 to 30 percent if the rental income exceeds XCD$20,000.00.
7.5% Government fees.
Yes. Legal fee 3% (+ 0.45% V.A.T.). There is also the surveyor fee of approximately $1,500.00.
The developers are a local Dominica company and international partners specializing in immigration and property development.
The development is intended to be a fully functional resort hotel with facilities and services consistent with international standards of a luxury hotel.
The development is being built on approximately 12 acres and shall consist of 200 rooms.
A buyer who buys a full title unit becomes the exclusive owner of that unit. Where a purchaser purchases a fraction, he shares ownership with a number of other fraction owners. All the fraction owners own all of those properties which are subject to their fractional ownership but none of those owners own a specific part of those properties.
The return will be generated through the operation of the development as a resort.
Management will be in the hands of an international hotel brand or management company with experienced professional managers.
This will be done by the management company from the income generated by the resort. If the income is insufficient to meet these costs and expenses they will be met by all the property owners pro rata.
In the case of full title ownership, it will be a certificate of title of the unit. In the case of fraction owners it will be a certificate of ownership.
These will be done by reputable local lawyers recommended by the developers.
Because the properties will form part of the resort and must therefore be available for rental to guests, full title owners will be entitled to occupy their properties, or a similar property, for a limited period each year. Owners of fractions will have a similar right in respect of the properties which are the subject of their fractional ownership.
5% reservation fee on signing of reservation form;
5% deposit on signing Purchases & Sales/ Subscription agreement;
90% final payment after approval by the Government.
All payments must be in US dollars.
All payment towards the purchase price excluding the deposit paid on signing, are refundable.
The properties and facilities will be fully furnished by the developers.
Only with the approval of the management company.
The units will contain all the furniture, fixtures, fittings and facilities of a premier luxury hotel, including air conditioning, high speed internet, and cable television.
The program started in 1993 and has continued ever since.
Processing takes approximately 3 months.
An applicant can apply with an unlimited amount of dependants, including his/her dependent children under 28 years old and his/her parents or grandparents over the age of 55.