South Africa, being the most economically developed country and with the largest number of millionaires in Africa, continues to lose wealthy citizens. During the year of the pandemic (December 2019 to 2020), the number of millionaires living in the country fell by 1,900 (from 38,400 to 36,500), according to research from New World Wealth and AfrAsia Bank for 2020 – 2021.
One of the main reasons for the unprecedented outflow of citizens over the past 10 years was the news of the introduction of a new bill on the expropriation of property, including movable and immovable property, without compensation. Public purpose and interests can be reasons for alienation. Active discussion of the bill in the South African Parliament continues to this day, but is likely to be adopted. South African citizens are forced to seek Plan B to protect their capital.
1. Stability of the currency against the US dollar.
The East Caribbean Dollar (XCD) is the official currency of Dominica which has been pegged to the US dollar since 1976 at a ratio of 2.7 to 1, keeping Dominica’s citizens’ finances from inflation for 44 years.
By investing US$ 220,000 in shares of Oriental Developers (Caribbean) Ltd., – the development company behind Anichi Resort & Spa, an approved real estate project under the Dominica Citizenship by Investment Programme – you can sell it at the same price in 5 years, saving capital from currency devaluation and refunding the costs of obtaining citizenship.
|South African rand (ZAR) per US$ over 7 years||Benefits of real estate investment in the amount of USD 220,000|
|Dec 2014||July 2021||Loss of Value||% Loss of Value||Estimated Price in ZAR||Estimated Saving from Currency Devaluation|
|Buy in 2014||Sell in 2021|
2. Favourable tax climate.
Dominica does not impose global taxes, capital gains taxes, estate duties, or property tax on citizens; and personal income tax is not charged if income is not earned in Dominica.
3. Safe harbor for life and conducting business.
Dominica is an independent state with a stable political climate. Located in the Caribbean, the island is famous for its pristine nature and friendly people. Dominica citizens have the right to live and do business freely in one of the safest areas on earth today.
Read more about the benefits of Dominica citizenship.
The coronavirus pandemic has become a confirmation of how a person’s life can change dramatically and with lightning speed. New strains of coronavirus are being registered in the UK, Israel, USA, Brazil, India and other countries. Statistics from the UK from July 23, 2021 show that vaccinated people over 50 are not fully insured against the Delta variation. A return to the usual way is not possible in the near future. The only lesson that humanity can learn for itself is that it is necessary to take advantage of all the opportunities available today.
In 1993, the country launched the Dominica Citizenship by Investment Programme, providing an opportunity for dignified investors to obtain a second citizenship. The Dominica citizenship programme has been ranked number 1 globally by Professional Wealth Management, a publication of the Financial Times.
You can acquire Dominica citizenship for you and your entire family by investing in Oriental Developers (Caribbean) Ltd. through Anichi Resort & Spa, a luxury hotel under the Autograph Collection within the Marriott International hotel chain. Timeline of obtaining citizenship: 3-4 months. To inquire about your options, please contact us.