Only a handful of countries offer the total package, where gorgeous landscapes and golden opportunities are delivered in equal measures. Two such desirable destinations are Dominica, known as the “Nature Isle of the Caribbean” owing to its sprawling masses of untouched wilderness, and Greece, the “Land of the Gods” renowned for its rich history and cultural heritage. Over and above their apparent drawcards, what most might not know is that both these countries have attractive investment and citizenship programs. Leading Athens headquartered law firm Vardikos & Vardikos talks us through the endless opportunities these two nations offer.
DOMINICA’S CITIZENSHIP BY INVESTMENT PROGRAM
The Commonwealth of Dominica stands out from the usual Caribbean crowd with its unique natural landscape. Unlike its neighbouring counterparts, this island jewel boasts more than just beautiful beaches. Its varied terrain beguiles with rugged mountainscapes and myriad rivers and lakes, offering a serene ambience perfect for rejuvenation and reflection. Despite the challenges posed by the COVID-19 pandemic, the swift and efficient response of the proactive Dominican Government led to minimal local cases and zero COVID-related deaths. As a result, tourism is making a comeback, with United Airlines resuming daily flights from Miami and renowned establishments like the Cabrits Resort Intercontinental and Hotel Secret Bay once again welcoming international visitors.
Besides being a bucket-list destination for holidaymakers, Dominica has welcomed foreign investors since 1993 through its successful Citizenship by Investment Program (CIP). By making an economic contribution to a government fund or investing in approved real estate options, individuals can become citizens with full rights. In fact, Domica’s CIP program is so well-devised that it’s been lauded as the best country for second citizenship by experts at the Financial Times’ PWM magazine.
With an entry-level starting at US$100,000 for the Government Fund or US$200,000 for the Real Estate option, the Dominica CIP offers simple and cost-effective prospects for savvy investors. Successful applicants enjoy increased travel freedom to over 140 countries, the ability to pass citizenship to future generations, and access to post-citizenship support services. Recent enhancements, such as the ability to add new dependents during the post-naturalisation period, have increased the program’s appeal even more.
Additionally, Dominica boasts a thriving Ship and Yacht Registry, providing efficient and economical vessel registration options. Over and above the standard benefits of these schemes, in Dominica, yacht owners have the added privilege of chartering their private yachts for up to 84 days without the need for commercial registration. The registry also offers free self-inspection plans to ensure safety on board, further enhancing the experience for those commanding marine vessels.
GREECE’S GOLDEN VISA PROGRAM
On the other side of the globe, Greece presents an enticing opportunity for individuals seeking European residency through its Golden Visa Program. With the lowest investment threshold in Europe, requiring only €250,000 for real estate investment or €400,000 for a fixed-term deposit or government bond purchases, Greece’s Golden Visa Program stands out as the most competitive and affordable option on the continent.
The advantages of Greece’s Golden Visa Program are numerous. The low entry cost distinguishes it from other EU programs, plus the initial procedure can be conducted remotely through Power of Attorney. Only one visit is required for biometric data collection, and permanent residency is granted within just two months for three generations. Minors can now even be the principal applicants, further broadening the eligibility criteria.
What’s more, property owners also have the option to rent out their investments, allowing them to maximise their returns. The fixed-term deposit option has the added benefit of providing a capital guarantee with a stress-free exit strategy, all while easily securing residency. The cherry on top: this incredible program allows visa-free travel to 27 EU countries and opens the possibility of applying for Greek citizenship after seven years of residence.
A WORLD OF POSSIBILITIES
Exploring the prospects of citizenship and investment in Dominica and Greece unveils countless opportunities for individuals seeking enhanced global mobility, financial boons and access to magnificent landscapes. Dominica’s preeminent Citizenship by Investment Program unlocks a range of benefits, including citizenship rights and desirable vantages for yacht owners, making it the ideal choice for those looking for a Caribbean haven to call home. On the other hand, Greece’s affordable Golden Visa Program, alongside the Financially Independent Persons Visa and the Non-Dom Tax Regime, present lucrative options for individuals looking to establish European residency, pursue investment opportunities and enjoy extensive visa-free travel.
Whether you find solace in Dominica’s Eden-like environment or are captivated by Greece’s rich cultural heritage, both countries offer unique pathways to a brighter future. By engaging with reputable legal experts, such as Vardikos & Vardikos, who specialise in these respective programs, individuals can navigate the process with confidence and make informed decisions. With headquarters in Athens and local offices in Dominica and St Lucia, Vardikos & Vardikos has the knowledge and expertise to offer a comprehensive range of services for foreign investors, including ship/yacht registration and assistance with Citizenship by Investment Programs. With Vardikos & Vardikos, the world is your oyster —and there’s no better time than now to embark on your journey to a new chapter of global citizenship and investment with these remarkable opportunities in Dominica and Greece.