The Insider's Guide to Buying Property in Dominica
Overview - The Dominica Real Estate Market
Located north of Martinique and St Lucia, Dominica is a spectacularly green island of rainforest-covered mountains, 365 rushing rivers, 23 waterfalls and black sand beaches. A nature lover’s paradise, the island has made a great effort to protect its pristine landscape and encourage sustainable eco-tourism. In the process, Dominica has managed to avoid the mass tourism that has come to other destinations, preserving the spectacular natural beauty for the lucky few.
Dominica’s pristine natural beauty, unhurried lifestyle and a competitive Citizenship by Investment Program have made the island a sought after investment location for buyers seeking tranquility and seclusion amid breathtaking surroundings.
In the last couple of years, a small number of luxury boutique resorts have been announced as part of the Citizenship by Investment Program. The program offers qualifying applicants full citizenship of this magnificently beautiful island in exchange for an investment in designated Dominica citizenship by investment real estate or, alternatively, a contribution to the nation’s economy. The condos and hotel suites approved for the program complement the island’s existing supply of re-sale homes and houses. Lots of beachfront land are also available to purchase in Dominica, often at a significantly lower price than other Caribbean locations.
There are plans afoot for a new international airport in Dominica, which is expected to provide an additional boost to the island’s small but growing real estate market.
“Dominica’s pristine natural beauty, unhurried lifestyle and a competitive citizenship by investment program have made the island a sought after investment location for buyers seeking tranquility and seclusion amid breathtaking surroundings”
Untouched, pristine environment of virgin rainforest, 365 rivers and 23 waterfalls flowing into emerald pools.
Good value for money with property prices lower than many other Caribbean islands.
Citizenship by Investment Program offering full citizenship of Dominica in exchange for an investment in an approved real estate project.
No capital gains tax, no estate tax, no inheritance tax, no death tax and exemption from tax on income earned from a source outside of Dominica for retirees.
Quiet destination ideal for relaxing in a pristine natural setting away from the crowds.
Surrounding seas home to beautiful coral reefs, turtles and whales, making Dominica a first class diving, snorkeling and whale watching location.
New international airport expected to boost tourism and real estate markets.
Buying Process, Fees & Taxes
- Can foreigners buy property in Dominica?
Yes, foreigners can buy property in Dominica and the Government of Dominica welcomes investment from overseas buyers. All foreign buyers need to pay an Alien Landholding fee which is 10% of the value or purchase price of the property value (whichever is greater). In addition, all foreign buyers of over 1 acre of land for personal use, or over 3 acres of land for commercial use are also required to apply for an Alien Landholding License which is specific to a particular property and is non-transferable.
Alternatively, foreign buyers purchasing property in an approved real estate project may qualify for full citizenship of Dominican under the Dominica Citizenship by Investment Program.
- Buying process
Buying property in Dominica is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Once you have made an offer and that offer has been accepted, a lawyer will draw up a Purchase and Sale Agreement.
- A surveyor will value the property and prepare new Survey Plans.
- You will also need to pay a 10% deposit which can be held in escrow by the seller’s lawyer.
- Once the balance plus all other fees have been paid, a Memorandum of Transfer is executed and title transferred.
- Pay all required taxes and fees.
- Fees & taxes
Buyers are required to pay an Assurance (Memorandum of Transfer) fee of 1%, stamp duty of 4%, judicial fees of 2.5% and legal fees of 3%.
The seller is responsible for paying stamp duty of 2.5%.
Latest Real Estate Listings in Dominica
Residency & Citizenship
- How long can a foreign citizen stay in Dominica?
Citizens of the USA, Canada, UK, and member countries of the Commonwealth and CARICOM are permitted to remain in Dominica on holiday without a visa for up to 6 months.
- How do you become a resident of Dominica?
Individuals looking to stay longer than 6 months in Dominica can apply for a temporary residence permit. This permit essentially extends your stay as a visitor and does not permit you to work in Dominica.
Individuals who have renewed the one-year temporary residency permit annually for 5 years can apply for permanent residency in Dominica.
- How do you become a citizen of Dominica?
Individuals who have lawfully resided in Dominica for 7 years can apply for citizenship by naturalization. Residents with a Dominican spouse may apply for citizenship by naturalization after 5 years of residency.
In addition, Dominica operates a Citizenship by Investment Program which offers qualified investors the opportunity to obtain full citizenship of Dominica in exchange for a significant contribution to the nation’s finances, either through a financial contribution to a government fund or via investment in an approved real estate project.
Read more: Dominica Citizenship by Investment.
Mortgages in Dominica
Looking for financing to fund the purchase of property in the Caribbean?
Contrary to popular misconception, it is possible for foreign nationals looking to invest in Dominica real estate to apply for a mortgage.
Our partner – a very well respected international financial organization – offers mortgages for qualifying non-residents buying, building or improving a second home in Dominica.
For more information, see our page on: Caribbean mortgages.
How to Get There
There are no direct flights to Dominica from the USA, Canada or Europe.
Take a flight to Antigua, Barbados or San Juan (Puerto Rico).
Then take a connecting flight via regional airline LIAT to Dominica’s Melville Hall Airport located on the north-eastern coast.
- Antigua to Dominica 40m
- Barbados to Dominica 60m
- Puerto Rico to Dominica 1h 45m
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