Dominica: Caribbean country – the Commonwealth of Dominica has recently become the first ever country to introduce mandatory interviews. According to the official announcement, the applicants aged 16 or over applying for citizenship by the investment programme of Dominica will undergo interviews from July 17, 2023.
This step has been counted to be effective and an effort of the government and citizenship by the investment unit of Dominica to ensure the strict and robust due diligence procedure is performed. Additionally, it also showcases the commitment of the country to offer a safe and secure environment to international investors.
After this initiative has come into effect, Dominica has become the first ever nation, granting citizenship by investment, to mandate personal interviews. It is one of the five Caribbean nations that met with the officials of the US led by the Deputy Assistant Secretary of the US Department of Treasury on February 25, 2023.
It is to be noted that one of the outcomes of this session was the introduction of the interview process, which has been implemented by the government of Dominica.
Now, during the application process, all applicants aged 16 or over will require to undergo interviews, along with submission of financial statements, proof of employment and identification documents and others.
Due Diligence has been regarded as an important step while applying for citizenship by investment programme. The countries offering strict and robust due diligence are considered to be a choice of the high net worth individuals and investors.
It is worth mentioning that the five (5) Caribbean countries, including Antigua and Barbuda, Commonwealth of Dominica, Grenada, Saint Lucia and St Kitts and Nevis, are globally recognised for offering the world’s best Due Diligence procedure.
Besides this, among all, Dominica and St Kitts and Nevis have been regarded as the best citizenship by investment programme, in terms of strict and stringent Due Diligence, according to the CBI Index 2022 – a publication by the PWM Magazine of the Financial Times.
These nations are globally recognised because the procedure is conducted through third-party international firms based in the United States and the United Kingdom. As per the authorities, each and every application undergo a multi-layered vetting process through both online as well as offline checks.
Prime Minister of Dominica, Dr Roosevelt Skerrit, recently stated the rigorous Due Diligence process, emphasising the need for improvement. He said, “The Commonwealth of Dominica is committed to providing a safe and secure financial system for the investors, who are directing their ways towards the shores of the nation. The addition of this new step to our due diligence process will definitely safeguard the integrity of the programme.”
Citizenship by investment programme of Dominica:
The Commonwealth of Dominica has been offering alternative citizenship to credible investors and high-net-worth individuals since 1994. From the first day, the nation is known to emerge as one of the best citizenship by investment programmes. It has been considered to be an ideal choice for investors, as it offers numerous benefits to the applicant and their family.
