In an official memorandum issued by the Citizenship by Investment Unit (CBIU) the Commonwealth of Dominica announced mandatory interviews for all applicants aged 16 and over applying for its Citizenship by Investment Programme (CBI). In addition, applicants of the Dominica Citizenship by Investment Programme who are citizens of specific countries will be subject to some changes recently made to the due diligence processes. Prime Minister Roosevelt Skerrit considers these measures as a way to improve the integrity of Dominica's CBI Programme and create a protective shield for the country's financial system.
Dominica Announces Mandatory Interviews for Citizenship Applicants Aged 16 or Above
Dominica, along with four other Caribbean nations with CBI programmes met US officials led by the Deputy Assistant Secretary of the US Department of Treasury on February 25, 2023 and discussed how to alleviate the problems faced by the Caribbean CBI programmes. As a result, it was decided that from July 17th, all applicants aged 16 and over shall be required to appear for virtual or in-person interviews. Other Caribbean nations with CBI programs are expected to follow suit in announcing mandatory interviews as part of the application process. Applicants will have the ease of participating in the online interviews remotely.
Changes to the Dominica Citizenship By Investment Programme
The Dominica Citizenship by Investment Programme has maintained its reputation of having an affordable cost over the years. After going through the due diligence process, applicants who acquire citizenship, benefit from the ability to travel visa-free across 140 countries. Citizenship is granted to applicants in approximately four months from the time of submission of the application.
Dominica Enhanced Due Diligence For Iranian Citizens
Apart from the introduction of mandatory interviews for applicants, the due diligence procedures for citizens of and individuals domiciled in Iran have gone through some changes.
The due diligence fees for Iranian applicants, effective from July 17, 2023, are as follows:
- Main applicant - USD 25,000
- Applicant's spouse - USD 15,000
- Each dependent aged 16 or over - USD 15,000
- Each dependent aged from 12 to 15 - USD 10,000
All other applicants from eligible nationalities will be subject to the original due diligence fees with the main applicant paying USD 7,500 and each dependent aged 16 or above paying USD 4,000, which includes the spouse of the main applicant.
Dominica’s Multi-Layered Due Diligence Processes
In the past, Dominica has received praise for its strict due diligence procedures by conducting thorough background checks on applicants and only accepting fit and proper applicants. Dominica uses the investment obtained through the Citizenship by Investment Programme to develop its infrastructure and improve areas that the public would benefit from. By adding another layer to the previously multi-layered due diligence process, Dominica continues to attempt at strengthening the country’s economy and reputation simultaneously.
Dominica and Other Caribbean Nations Strengthen Their CBI Programmes
By introducing mandatory interviews for applicants and enhancing the due diligence processes of their Citizenship by Investment Programme, Dominica is determined to solidify the trust among the international investors as they will be ensured of their investments' security. As other Caribbean nations are expected to follow Dominica in its efforts to strengthen the security of the Citizenship by Investment Programme, the region will collectively form better relations with other nations.
In an official memorandum issued by the Citizenship by Investment Unit (CBIU) the Commonwealth of Dominica announced mandatory interviews for all applicants aged 16 and over applying for its Citizenship by Investment Programme (CBI). In addition, applicants of the Dominica Citizenship by Investment Programme who are citizens of specific countries will be subject to some changes recently made to the due diligence processes. Prime Minister Roosevelt Skerrit considers these measures as a way to improve the integrity of Dominica's CBI Programme and create a protective shield for the country's financial system.
Dominica Announces Mandatory Interviews for Citizenship Applicants Aged 16 or Above
Dominica, along with four other Caribbean nations with CBI programmes met US officials led by the Deputy Assistant Secretary of the US Department of Treasury on February 25, 2023 and discussed how to alleviate the problems faced by the Caribbean CBI programmes. As a result, it was decided that from July 17th, all applicants aged 16 and over shall be required to appear for virtual or in-person interviews. Other Caribbean nations with CBI programs are expected to follow suit in announcing mandatory interviews as part of the application process. Applicants will have the ease of participating in the online interviews remotely.
Changes to the Dominica Citizenship By Investment Programme
The Dominica Citizenship by Investment Programme has maintained its reputation of having an affordable cost over the years. After going through the due diligence process, applicants who acquire citizenship, benefit from the ability to travel visa-free across 140 countries. Citizenship is granted to applicants in approximately four months from the time of submission of the application.
Dominica Enhanced Due Diligence For Iranian Citizens
Apart from the introduction of mandatory interviews for applicants, the due diligence procedures for citizens of and individuals domiciled in Iran have gone through some changes.
The due diligence fees for Iranian applicants, effective from July 17, 2023, are as follows:
- Main applicant - USD 25,000
- Applicant's spouse - USD 15,000
- Each dependent aged 16 or over - USD 15,000
- Each dependent aged from 12 to 15 - USD 10,000
All other applicants from eligible nationalities will be subject to the original due diligence fees with the main applicant paying USD 7,500 and each dependent aged 16 or above paying USD 4,000, which includes the spouse of the main applicant.
Dominica’s Multi-Layered Due Diligence Processes
In the past, Dominica has received praise for its strict due diligence procedures by conducting thorough background checks on applicants and only accepting fit and proper applicants. Dominica uses the investment obtained through the Citizenship by Investment Programme to develop its infrastructure and improve areas that the public would benefit from. By adding another layer to the previously multi-layered due diligence process, Dominica continues to attempt at strengthening the country’s economy and reputation simultaneously.
Dominica and Other Caribbean Nations Strengthen Their CBI Programmes
By introducing mandatory interviews for applicants and enhancing the due diligence processes of their Citizenship by Investment Programme, Dominica is determined to solidify the trust among the international investors as they will be ensured of their investments' security. As other Caribbean nations are expected to follow Dominica in its efforts to strengthen the security of the Citizenship by Investment Programme, the region will collectively form better relations with other nations.