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The Commonwealth of Dominica’s Citizenship by Investment (CBI) Programme ensures only applicants of the highest moral standing obtain the nation’s citizenship by conducting thorough due diligence checks. This was reiterated in the recent 2020 CBI Index, an independent study conducted by experts at the Professional Wealth Management magazine – a publication by the Financial Times. The annual report is a comprehensive analysis into all government-legislated CBI Programmes in the world. According to the report, Dominica has attained perfect scores in the due diligence pillar since the CBI Index was introduced in 2017.

Established in 1993, Dominica’s CBI Programme enables wealthy individuals and their families to acquire the nation’s citizenship once making an investment in either the government fund or buying into selected pre-approved real estate. For the last four consecutive years, the CBI Index has named Dominica as the best destination for second citizenship for several reasons, one of which includes its thorough and meticulous due diligence. The country uses a multi-tiered structure as part of its vetting procedures that utilises both internal and external agencies to ensure that applicants, and their dependants, will not harm the Programme’s integrity.

Emmanuel Nanthan, the Head of Dominica’s CBI Unit, highlights the importance of implementing a stringent due diligence framework: “We strive to remain at the forefront of the global migration industry. We do so by enforcing a robust due diligence process. We have engaged some of the best companies in the world to do our due diligence for us – like SR-M, Thompson Reuters, and Bishops (now Sterling Diligence). We use the best due diligence firms to ensure that we have excellently vetted investors. We use our due diligence regional partners as well, such as the JRCC, and the international intelligence community. We try to ensure that the backbone and the cornerstone of our programme is due diligence.”

Due diligence is pivotal to maintaining the international reputation of a CBI Programme and encouraging transparency within the investment migration industry. Aside from its vetting approach, Dominica’s CBI Unit also publishes the names of its economic citizens in the quarterly official gazette and provides a detailed budget of where CBI funds have been invested. Revenue generated under the Programme has been utilised to build climate-resilient housing, revolutionise its healthcare infrastructure and construct its first international airport.

Source: CS Global Partners


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