Those familiar with the immigration investment industry will know that all applications for Dominica’s Citizenship by Investment (CBI) Programme must go through an Authorised Agent.
Which kind of agent you can become will depend on a number of factors, but it mainly depends on whether you reside in Dominica or not. We will breakdown the roles of an Authorised Agent, a promoter and sub-agent but, before that, let us explore why applicants need a licensed agent.
Why do applicants need an Authorised Agent?
Authorised CBIU Agents have a great deal of experience and have the required the skills to assist applicants through every step of their application. They provide professional advice and assistance in preparing and submitting applications for citizenship by investment in Dominica.
The Dominica Citizenship by Investment Unit (CBIU) does not communicate directly with applicants. All official communication from the Unit regarding CBI applications is sent to applicants via their Authorised Agents. All Authorised Agents are vetted by the Unit prior to receiving a licence.
For confidentiality purposes, all communication regarding applications made under the Programme is strictly kept between the CBIU and Authorised Agent.
Who Can Promote Dominica’s Programme?
Authorised Agents are licensed by the CBIU, and by policy, they must reside in Dominica – This requirement ensures the CBIU can properly monitor their activities and suitability for the role.
Authorised Agents may enlist the assistance of promoters or sub-agents, who are located across the world. These promoters assist in the marketing of the CBI programme in their region and assist prospective applicants under the CBI programme.
Promoters must be registered by an Authorised Agent and are responsible to the Authorised Agent for all their promotional and marketing activity. They provide tailored advice to applicants on obtaining the required supporting documents, completing all the necessary forms, and keeping in touch with the Authorised Agents.
What are they?
- A person licensed by the CBIU
- Acting on behalf of a main applicant in relation to their citizenship by investment application
- Must reside in Dominica
- Vetted by the CBIU at a cost of US$7,500
What is their role?
- Perform ‘know-your-client’ (KYC) checks as part of Dominica’s multi-tiered due diligence process
- Guide applicants through the process of completing the forms and gathering all required supporting documents, and ensuring all documents meet their respective legal requirements of certification, legalisation and translation
- Submit all duly completed forms and supporting documents, as well as the KYC checks, to the CBIU along with the application
- Liaise with the CBIU in relation to each applicant’s application
- Receive and digest policies and guidance issued by the Government and CBIU
- Ensure the accurate dissemination of information on the CBI Programme across all channels
- Support, train and monitor sub-agents and promoters
What are their responsibilities regarding promoters or sub-agents?
Authorised Agents may appoint promoters and sub-agents from across the world to assist them with reaching potential clients. In order to do so, Authorised Agents must:
- Take reasonable steps to satisfy themselves as to the identity and legitimacy of each sub-agent or promoter
- Ensure that they formally agree with the terms and conditions of the Programme
- Register each sub-agent or promoter with the CBIU
- Pay (or cause to be paid) the annual fee for the sub-agent or promoter
Authorised Agents are responsible for all advertisements, promotions, and publications in relation to the CBI Programme that are disseminated publicly, both by themselves or by their sub-agents or promoters. Any Authorised Agent who does not want to lose their licence must:
- Train and provide clear guidance to all of their sub-agents or promoters in relation to the promotion of the CBI Programme
- Monitor their sub-agents or promoters
- End their relationship with any sub-agent or promoter who fails to promote the CBI Programme in compliance with the promotional guidelines
- Authorised Agents must register with the Citizenship by Investment Unit, a process that involves:
- Authorised Agents must also register all persons or entities who act or are to act as sub-agents or promoters on behalf of, in conjunction with, or in relation to the Authorised Agent.
- Authorised Agents must pay an annual fee of US$2,000 for each promoter the Authorised Agent engages, collaborates with, or otherwise uses in relation to the Citizenship by Investment Programme (due on 31 January every year).
1) Payment of a fee of US$5,000; and
2) The signing of a written agreement with the Government agreeing to adhere to the terms and conditions of the Citizenship by Investment Programme.
Promoters or Sub Agents
What are they?
- Registered by an Authorised agent and responsible to them
- Support the marketing of the CBI programme in their region and assist prospective applicants under the Programme
- Located across the world
What is their role?
- Identify and communicate with prospective applicants, from their region or industry
- Onboard prospective applicants as clients
- Create and disseminate updated promotions, advertisements, or publications on the CBI Programme
- Remain abreast of all news and developments regarding the CBI Programme
- Act as an intermediary between the Authorised Agent and the client
What are the benefits?
- Establish yourself as a trusted agent for the CBI Programme that prospective clients will want to turn to
- Rely on an experienced Authorised Agent who will help your clients apply
- Establish a secure channel through which you can remain abreast of all Programme details, including any changes, giving you the advantage of better preparation and more time as compared to your competitors
- Be able to set up a commission scheme – something that is personal between you and the Authorised Agent
- Become a stakeholder in one of the world’s most prestigious CBI Programmes
- Identify an Authorised Agent
- Contact the Authorised Agent and determine the details of your cooperation relationship with the Authorised Agent
- Make a formal agreement to the terms and conditions of the CBI Programme
- Pay the appropriate annual fee of US$2,000 either personally or through your Authorised Agent