Roseau, Dominica: The Commonwealth of Dominica has initiated mandatory interviews for all applicants of the Citizenship by Investment Programme. The step has marked the significance of the due diligence process in maintaining the integrity and reputation of the programme.
While adopting a streamlined approach, Dominica became the first country to introduce mandatory interviews. As per the new steps, all the applicants aged 16 and over applying for the Citizenship by Investment Programme will have to undergo in-person interviews during the background checks.
The step will add an extra layer of trust among the international investors as well as the locals for the programme. It will make the investors get a sense of security towards their investment. Besides this, the mandatory interviews will also eliminate the chance of threats posed by illicit actors.
Apart from that, the mandatory interviews will make the due diligence process of Dominica more stringent, making it impossible for applicants with questionable characters to qualify for its citizenship.
While increasing its reputation on the global stage, the step has showcased the commitment of Dominica to strengthening the CBI Programme. The country is efficiently working to ensure the safety of its local citizens as well as international investors.
Dominica conducts multi-layered due diligence
Dominica has maintained its reputation for conducting rigorous background checks since 1993. While following a multi-layer process, the country is known for granting citizenship to legitimate applicants.
From the character assessment and background checks to the source of funds and financial history, the vetting process of Dominica included everything which can prove the legitimacy of the applicant.
In case the agency discovers a possible threat or a criminal background, the citizenship would be rejected. The due diligence in Dominica is conducted by renowned due diligence and risk agencies from the United States and the United Kingdom. These agencies are supported by local and international policing authorities.
The two steps, such as online and on-the-ground checks, are involved in the process. The vetting process of Dominica has also been lauded by Financial Times. Through its CBI index, it has recognised that the due diligence of Dominica is the best and most robust.
Prime Minister of Dominica- Dr Roosevelt Skerrit, said that the step would safeguard the integrity of the programme. It will surely enhance the reputation of the Citizenship by Investment Programme.
Along with Dominica, the other five nations of the Caribbean offering the CBI programmes are recognised for their robust background checks. They worked to enhance their reputation within the international community to give them a sense of security regarding their investment.
Furthermore, the funds generated by the Citizenship by Investment Programme help strengthen the socio-economic aspects of the nations. It helps these countries to fight the challenges of being small island development states.
Dominica is also one example as they use the funds to fulfil their goals of resilience and building infrastructure, enhancing public facilities and diversifying the economy.
The step of mandatory interviews was one of the outcomes of the session of the US- Caribbean Roundtable held I February 25, 2023. Other CBI nations also agreed to start conducting virtual or in-person interviews of these applicants.
The application process also included:
- Submission of the financial statements
- Proof of employment and identification documents,
- Now, all applicants aged and over will now be required to be available for the interview