Dominica’s commitment to secure and strengthen its robust due diligence processes.

In its commitment to maintaining the highest standards of integrity and security, the Commonwealth of Dominica has implemented a rigorous due diligence framework for its Citizenship by Investment (CBI) Programme.

This meticulous screening safeguards against security threats, preserves international reputation, fosters investor confidence, and adapts to evolving global challenges. Invest with assurance in a nation committed to transparency and responsible growth.

These processes are designed to safeguard the nation’s interests, uphold transparency, and attract individuals who contribute positively to the socio-economic fabric of the nation.

The Government of Dominica Mandate In 2023, in a move to fortify and secure its second place in the CBI Index 2023 Report, the Government of Dominica implemented mandatory interviews for investors from 16 years of age and above.

Dominica was the first Caribbean CBI nation to implement mandatory interviews for all CBI applicants.

This initiative aimed to enhance the overall integrity of Dominica’s CBI programme by mitigating the risks associated with illegal and fraudulent investors.

Recent Security Measures

Over the past 20 months, Dominica has implemented several measures to heighten the security of its investment migration programme.

This includes anti-money laundering and counter-terrorism financing training conducted by a United States-based firm for all Citizenship by Investment Unit (CBIU) staff.

This comprehensive training equips CBIU personnel with the latest knowledge and tools to detect and prevent financial crimes, reinforcing the CBI Programme’s resilience against illicit activities.

Recognising the importance of a robust internal framework, the CBIU underwent a meticulous restructuring process under the supervision of an expert compliance officer.

This measure was pivotal in ensuring that all procedures were not only updated to meet evolving standards but also that stringent quality control measures were put in place.

The restructuring aimed to streamline processes, enhance internal controls, and foster a culture of compliance within the CBIU, contributing to the overall security and efficiency of the CBI Programme.

In conjunction with personnel training and organisational restructuring, Dominica’s government prioritised the technological aspect of security by initiating a comprehensive upgrade of all IT systems within the CBIU.

This involves adopting the latest cybersecurity measures, implementing advanced encryption protocols, and ensuring the resilience of the entire technological infrastructure supporting the CBI Programme.

The Government is continuously investing in cutting-edge technology, will create a secure digital environment that safeguards sensitive data, reinforces due diligence processes, and maintains the trust of global investors.

International Audit and Collaboration Initiatives

In February 2023, Dominica, along with five other Caribbean nations, engaged in a special meeting with US officials to address challenges faced by Caribbean CBI programmes.

The outcome was the introduction of virtual or in-person interviews for each applicant, marking a collaborative effort to enhance due diligence processes.

Following an initial audit by a UK consulting firm last year, the Government, led by Honourable Dr Roosevelt Skerrit, has engaged in extensive collaboration with stakeholders.

The CBIU is at the forefront of implementing new and improved processes to elevate the overall efficiency of the CBI Programme.

Application Criteria and Process Overview

The CBI application process for investors includes the submission of financial statements, employment proof, and identification documents, as part of the due diligence processes.

Robust Due Diligence – Safeguarding Stakeholders

Dominica’s CBI programme is renowned for its benefits, including citizenship for life, improved quality of life and security, boasting its stringent due diligence processes.

Utilising a multi-layered approach, third-party firms from the United States and the United Kingdom, supported by international and local policing authorities, ensure the legitimacy of applicants through online and on-the-ground checks.

Protecting Reputation and Fostering Confidence

Since 1993, Dominica’s CBI Programme has consistently empowered global investors by maintaining its international reputation through a rigorous due diligence process.

This not only safeguards investors but also instils confidence in the CBI programme, making it a secure investment choice.

Protection Against Illicit Activities

One of the paramount reasons for the importance of Dominica’s due diligence lies in its ability to safeguard the nation against potential security threats and illegal activities.

Vetting applicants thoroughly and conducting comprehensive risk assessments, the due diligence process acts as a barrier against individuals with malicious intent, thus fortifying the country’s security infrastructure.

Preserving International Reputation

Dominica, renowned for offering one of the best Citizenship by Investment programmes globally, places immense importance on maintaining its international reputation.

The due diligence process plays a pivotal role in this regard, assuring the global community that the program adheres to the highest standards of transparency, legality, and ethical conduct.

This, in turn, attracts reputable investors and enhances the country’s standing on the international stage.

Fostering Investor Confidence

Investors seek stability, transparency, and assurance when considering opportunities in a foreign citizenship programme. Dominica’s rigorous due diligence process provides precisely that—confidence.

Ensuring that all applicants undergo a thorough screening, the Government instils trust in investors, assuring them that their investment will contribute to the nation’s growth and development in a secure and legitimate manner.

Mitigating Risks and Challenges

The due diligence process is not static; it evolves to address emerging risks and challenges, continuously updating and refining its due diligence protocols.

Dominica demonstrates adaptability and resilience in the face of changing global dynamics.

This commitment to staying ahead of potential threats reinforces the effectiveness and relevance of the due diligence process in protecting the nation’s interests.

Prime Minister’s Assurance and Commitment

Prime Minister of Dominica, Honourable Dr Roosevelt Skerrit, emphasised the Government’s commitment to protecting the country’s financial system.

The introduction of mandatory interviews further strengthens the CBI Programme’s due diligence processes, making it more robust and secure than ever before.

During the 2023/2024 Budget Speech, Honourable Dr Skerrit affirmed the Government’s commitment in reinforcing the already proactive due diligence process.

He expressed dedication to showcasing the CBI Programme’s due diligence and risk mitigation efforts on all fronts and unveiled plans to bring on board a globally vetted management consulting firm.

What does the Due Diligence process in Dominica entail?
  • Applicants are vetted by multiple entities:
  • KYC (know-your-customer) checks performed by local Authorised Agents.
  • Internal checks including AML (anti-money laundering) and CTF (counter-terrorism financing) vetting by the Citizenship by Investment Unit.
  • Mandated international due diligence firms perform online and on-the-ground checks.
  • Regional and international crime prevention bodies check that you aren’t on any wanted or sanctions lists.
  • Mandatory Interview.
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