Background info about Dominica

Known as "The Nature Island of the Caribbean" due to its spectacular scenery and lush flora and fauna, Dominica (pronounced Domineeka) is situated between the French islands of Guadeloupe and Martinique in the Eastern Caribbean. Not to be confused with the much bigger Spanish speaking Dominican Republic further North, Dominica’s 70,000 people inhabit the most mountainous and beautiful of the Windward Islands.

An independent nation since 1978 with a seat at the United Nations, Dominica is a parliamentary democracy with an independent legal system derived from English common law. English is the principal and official language, though Creole is also widely spoken. Agriculture, construction and tourism (with the focus on ECO Tourism) provide the main economic activity.

The currency is the Eastern Caribbean Dollar (EC$) which is tied to the United States dollar at the fixed rate of EC $2.68 = US $1.00 … the current floating exchange rate to the British Pound is about EC $4.00 to £1.00.

The time in Dominica is four hours behind GMT, one hour ahead of US Eastern Standard Time during “winter”. When the clocks change for “summer time / day light saving”, Dominica doesn’t change and so becomes five hours behind BST, the same as US Eastern Standard Time.

Dominica has an abundant supply of clean and pure potable water. This island claims 365 rivers, one for each day of the year!

Traffic drives on the left. The normal voltage is 220. Car hire can easily be arranged though don’t expect a network of US style highways. Roads are often winding and narrow. Nervous drivers may prefer to hire a car with driver to tour the island.

For more information on what to do and where to stay visit

Discover Dominica

Incomer's phone guide to Picard

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Proposals for Residence Tourism Policy for Dominica

Introduction

1. The Ministry of Tourism, Industry & Private Sector Relations has reviewed proposals for adoption of policies to promote residential tourism in Dominica. “Residential tourism” pertains to that rapidly developing branch of the travel industry where affluent persons who are on a guaranteed income are encouraged to take up residence in the promoting country.

Purpose

2. The primary purposes of the Residence Tourism Policy are :
   
   To increase foreign direct investment into Dominica through the constructions of private homes and thereby increase foreign exchange and employment. To assist in destination promotion and branding of Dominica.

3. Residence Tourism had a high local value component through its demand for local construction and real estate goods and services, for post-construction goods and services including local labor such as gardeners/groundkeepers, security, tradesmen and domestics.

4. Many retirees and persons interested in Residence Tourism are from the North American market. These persons are coming from the “Baby Boomer” population. According to Exotic Places to Retire, a leading American journal for this segment,
   
   “eighty-five (85) million men and women make up the Boomer market segment – one third of the American population. Conceptually, 340,000 of them turn fifty (50) years old every month and will do so for the next sixteen years....Boomers, North America’s largest population in history, are rapidly approaching retirement.... Boomers will be the largest consumer group in the country for another estimated thirty (30) years... and spend more money on products and services than any other age cohort or household....”

Industry Profile

5. Retirees seek out destinations for second homes for several reasons, among which are to avoid harsh climatic conditions, to fulfil retirement paradise dreams and for tax purposes.

6. A number of countries have vigorously embarked upon the pursuit of retirement tourism. Among them are Ireland, Belize, Panama, Cyprus and Costa Rica which offer a variety of inducements to attract retirees.

7. In the Caribbean region St Kitts, Montserrat and the USVI have had strong residence tourism programs.

Rationale

8. In Dominica’s context the island would likely be of interest to certain segments of the retiree market because Dominica is viewed as an unspoilt destination with a relatively good record for security and safety and for friendly people with a relatively good living standard. Dominica is noted for its pristine natural environment and opportunities for healthy lifestyle, research in environmental and related disciplines and wellness tourism.

9. These attributes, by themselves, will not translate into investment in residence tourism on a significant scale unless a deliberate policy to promote the destination to this segment is adopted. Dominica also has other inherent constraints such as the absence of state-of-the-art medical facilities and evacuation procedures.

10. Dominica should seek to capitalise on this vibrant and growing industry. Thus, two CATEGORIES are being proposed for adoption, side by side with each other
    
    CATEGORY ONE – Encompassing Non-Nationals who are willing build or purchase a home in Dominica to the value of US$300,000 (house and land).
    
    CATEGORY TWO – Other Non-Nationals who, instead of building or purchasing a home, would maintain a bank deposit of US$100,000. The persons to be targeted in this category are professionally qualified individuals holding a Master’s degree or equivalent certification from accredited institutions in the field of botany, ecology, anthropology, biology, oceanography, natural science, forestry, agronomy, tropical agriculture and medical science. Some of these persons May undertake research here, leading to publications, patents, royalties and other products/services that could be commercialized. Also to be included are writers and researchers from reputable, established publications on themes of nature, ecology, alternative medicine, ecotourism and culture.
    
    This category of persons would, by association, help brand Dominica as the Nature Island of the World!

11. Among the inducements which would be provided under the policy are the following :

    
    

    1. To increase foreign direct investment into Dominica through the constructions of private homes and thereby increase foreign exchange and employment.

    2. Residence status for dependent of beneficiaries under eighteen (18) years of age.

    3. Exemption from Estate Tax, Capital Gains Tax and tax on interest income from savings. Presently, there is no tax in Dominica on estate income, capital gains and interest income earned by individuals resident in Dominica. However, explicit mention of provision for exemption from these taxes (in the event that any of these were to be introduced in the future) is an important promotional statement for the program.

    4. Exemption from tax on income from a patent/royalty/publication received by any person covered under Option Two if the work has been carried out in Dominica.

    5. Exemption from tax on overseas income of Beneficiaries, whether resident in Dominica, or not. Currently, under the Income Tax Act the assessable income of a taxpayer includes all income (which is not specifically exempt), accrued directly or indirectly from all sources whether in or out of Dominica. Section 25 (1) (h) of the Act exempts
       
       “any income accrued from a source outside Dominica to any retired person, who, prior to his retirement, was not resident in Dominica.”
       
       However, once the individual takes up residence here, his/her overseas income earned from the time of taking up local residence becomes taxable here. For the purposes of the Residence Program beneficiaries’ overseas income should be exempt, whether they choose to reside in Dominica, or not. There would be need to amend the Income Tax Act to make explicit reference to Beneficiaries under the program and to exempt any income accused from a source outside of Dominica from taxation, whether the beneficiary resides in Dominica, or not.

    6. Duty-free concession, including waiver of the Value Added and Excise Tax, on two (2) motor vehicles every four (4) years; and on yachts and private aircraft.

    7. Duty-free concession, including waiver of the Value Added Tax on the importation of household items, in line with the existing policy for returning Dominicans i.e. one set or one unit of household furniture and appliances. An increase of the limit from EC$20,000 to US$50,000 is being recommended in light of the value of homes being proposed for eligibility under the program. (N.B. Belize offers US$15,000 and Panama $10,000 concession on household items under their Residence Program.

    8. Duty-free concession on building material for housing construction would not be allowed. However, consistent with the Nature Island branding theme, certain housing-related components for home-improvement and environmental conservation would be exempt from duty. These include :
       
       Energy-efficient appliances, including solar water heaters, water pumps, water tanks, wells and cisterns technologies. Alternative energy technologies (wind mills, watermills, solar, bio-gas and geothermal technologies). Landscaping, irrigation, water conservation and treatment systems. Security alarm and surveillance systems and perimeter security systems. Pool construction material, equipment, supplies and accessories. Spa-related equipment, accessories and supplies such as saunas, hot tubs, Jacuzzis

Caveats

12. 1. It is considered that minimum residency (stay on island) ought not to be required under the program as the economic impact of a beneficiary’s participation in the program can be had, whether or not he/she chooses to reside here.

    2. It is considered that a restriction on the sale of land to a Beneficiary should apply, within the provisions of the Aliens Land Holding Act. Currently , Aliens are permitted to own up to one (1) acre without the need for an Aliens Land Holding Licence, except in the case where the land is to be held for commercial purposes in which case up to three (3) acres can be held without a license. Should more land be required they would apply under normal procedures.

    3. It is considered that the minimum qualifying age should be eighteen (18) years to take into consideration today’s reality of a growing number of very affluent young persons in the technology and entertainment industries, in particular, and who should be encouraged to acquire residency status under this program.

Risks

13. As is the case for the tourism industry, in general, there are potential drawbacks from active promotion of a program of residence tourism in Dominica, mostly centred around social impacts. Among these are :
    

    1. Inflationary effects on property values and prices.

    2. Emergence/exacerbation of a dual class in society comprising of lower income locals and high-income diasporans and non-local (expatriate) residents.

    Summary Guidelines
    
    The following highlights some of the specific guidelines for consideration and further discussion in preparation for the adoption of a policy on Residence/Retirement Tourism.
    

    1. That a draft policy of Residence Tourism, providing for two qualifying categories is acceptable to the Government of Dominica.

    2. A person must be a least eighteen (18) years of age to be eligible under the program.

    3. That, under Category One, a beneficiary would be required to purchase or construct a house in Dominica of a certain value and standard within any location, subject to Physical Planning approval. The minimum value, of house and land, is US$300,000, as assessed by the Valuation Unit of the Government of Dominica.

    4. That, under Category Two, persons holding a Master’s Degree or equivalent qualification in approved professions, would be eligible. For persons in this category, a minimum of deposit of US$100,000 in a local bank account would be required. This would be held in escrow for the duration of their residency status. Such escrow to be separate from any other funds that would be required for their local expenses when residing here.

    5. The applicant would be required to supply personal data, birth certificate, police records, marriage certificate, copy of passport, medical certificate (including verification of the absence of communicable diseases), and proof of income and assets in respect of himself/herself and any dependents.

    6. Non-Commonwealth originating beneficiaries would not have local voting rights. Commonwealth beneficiaries would retain voting rights subject to existing 0n-island minimum residency requirement of Electoral Laws.

Issues to be clarified

14. For the purpose of giving seamless effect to the policy, the following revisions/amendments to existing policies, legislation and institutional arrangements should be examined for implementation.
    

    1. Inclusion of a new clause under 25 (1) (h) of the Income Tax Act to exempt “any income accrued from a source outside Dominica to a Beneficiary under the Residence Tourism program, whether the persons resides in Dominica, or not.”

    2. Determination of the appropriate institutional arrangements to implement and promote the Residence Tourism program of Dominica. Both the Financial Services Unit and National Development Corporation have a role to play if the program is to have its full impact. The FSU has core competence in undertaking due diligence exercise within the context of the related program of Economic Citizenship and offshore business. This is an important screening function which should be retained for the Residency Program with clear checklist of the things which would render an applicant ineligible/disqualified for Beneficiary status. FSU would need to create the necessary application form, checklists and administrative processing arrangements for the new program.

    3. The National Development Corporation could support the promotion of the program through its general destination promotion activities in print, electronic material, at trade shows etc… In addition, the Dominican diaspora and local private sector interests in the field of insurance, real estate, banking, legal and construction services should be harnessed to assist with promotion of the program, collaboratively. It is necessary to adopt the policy and formalize the institutional arrangements in time to be ready for a promotional launch of the program by the end of the financial year (FY06-07).

Some tips about moving

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Nullam eros lectus, dapibus a varius eu, fermentum nec odio. Praesent finibus ipsum ac viverra fringilla. Proin condimentum, metus ac tempor pretium, risus eros imperdiet mi, eget maximus dui nibh et mauris. Suspendisse lacinia sem ac bibendum dignissim. Duis volutpat nulla id facilisis auctor. Sed sit amet tellus metus. Quisque euismod id erat eu fringilla. Donec vulputate vel enim quis pellentesque. Integer quis libero eget orci semper fringilla vitae vitae ex. Cras laoreet mollis sapien. In posuere velit congue lorem cursus, at ullamcorper dui faucibus. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas.

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Lots to Love at Balvine, Dominica

A new residential development is taking place on the flat lands of Balvine, part of Dominica’s old Picard Estate, where 14 Lots varying in size from 10,000 to22,000 sq ft have just become available to buyers looking for a peaceful, natural spotto call home.

Close to Portsmouth, this seven acre area sits about 200 feet above sea level and offers wonderful west facing views over Prince Rupert’s Bay, one of the Caribbean’s finest natural harbours. The east view is just as breath taking, with Mourne Balvine rising majestically to about 750 feet. The site is bounded by an abundance of mature trees and shrubs that attract numerous birds including Dominica’s Jacko parrots.

Balvine’s climate is very agreeable, being several degrees cooler than in the south of the island. Typical hot daytime temperatures of 32ºC (90ºF) contrast with the pleasant evening temperatures of 21ºC (70ºF). The cool evening mountain breezemakes air-conditioning unnecessary.

Prince Rupert Bay - only a mile away - offers acombination of safe swimming together with various water sports. Swimming is also possible inthe various natural water holes that exist close by in the Picard River.

There is a general feeling of peace and quiet aboutthe area - far away from the noise and bustle of the capital Roseau - yet the shops, medicalfacilities and banks, etc., of Portsmouth are two miles away. Both Canefield and Melville Hallairports are only 25 miles away.

The success of the Ross Medical School, with a totalof a thousand students, professors and administration staff means this is a much sought-after area.

The History

In the late eighteenth century Balvine, owned by L. Rose and Company, was part of one of the largest estates in Dominica. The main crops, all of which were exported, were limes, cocoa beans and coconuts.

At the turn of the century the business was sold to Folley and Barnes who became the first company to export bananas to the UK. The Estate was later sold to Geest who ran the business until the 1970s. In the 1980s the Estate was split up into smaller portions and sold to local farmers. A Dominican company called DCL purchased the main house, together with the remaining land.

The Future

Now, 25 years later, for the first time the flat lands are being offered for sale as Residential Lots of various sizes. Although the generous minimum of1/4 acre per Lot is enough to ensure privacy, most of the Lots are even larger. The Lots will have all services, including pipeddrinking water, electricity, cable TV, telephone and high speed broad band internet access, buriedunderground and made ready for connection. A concrete road will provide access to each Lot.

As we say - there’s Lots To Love at Balvine.

Notice of Approval for subdivision

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