CIU Bosses announced strong due diligence measures for CIP’s at the Henley and Partners Global Citizenship Conference 2018 (GRCC)
- St Kitts is approving a new law for requiring biometric ID’s for CBI citizens.
- Grenada will have a dedicated due diligence manager
- St Lucia will do proper DD checks on every applicant
- Malta called for the sharing of information about rejected applicants
- Moldova announcing four tier due diligence process with MCBI launch
- Montenegro is only for credible investors with funds from legal origin
Saint Lucia
Nestor Alfred, CEO of Saint Lucia CBI, emphasizing the key theme of the morning, due diligence: “We have a moral responsibility to the countries providing us with visa-free access as well as to the island states within our region to do proper DD on every applicant”
Grenada
Thomas Anthony, new CEO of Grenada CBI Unit , announces a series of strong improvements to the program, including a more streamlined application process and a 90-day maximum window period, along with a dedicated due diligence manager
St Kitts and Nevis
Les Khan, CEO of CIU SKN explains at GRCC2018 how St. Kitts and Nevis is stepping up its already strong due diligence system: Cabinet has just approved a new law requiring biometric ID verification for all CBI applicants—details to follow
Antigua and Barbuda
“How can we collaborate to overcome the overblown rhetoric surrounding citizenship-by-investment? Only the highest standards of due diligence, rigorously applied, can do that” — His Excellency Ambassador Colin Murdoch of @antiguagov speaking at #GRCC2018
“In Antigua and Barbuda, we don’t see people as simply files or numbers to process. Rather, we listen to their stories. Stories are the real indicators of the human condition that drives our world” — Ambassador Murdoch
Malta
Parliamentary secretary Hon Julia Portelli said..
Our programme is not foolproof; but it has a lot of safeguards to filter applications, to limit subjectivity and to avoid abuse. I doubt there is any process in Malta, which is so highly regulated. The results achieved stemmed from a combination of proactiveness, timeliness and determination.
In fact, we have been at the forefront in advocating for the introduction of industry-wide due diligence standards in order to raise the bar.
We also went a step further and called for the sharing of information about rejected applicants so that no one gets through the back door.
People have the right to know the truth – they should have the peace of mind in knowing that we employ the best mechanisms to keep out shady characters.
Moldova
Moldova Government announced strict four tier due diligence measures when launching the MCBI program at GRCC 2018. According to Government Citizenship Unit
The Moldova Citizenship-by-Investment program boasts a highly streamlined application process and applies the world’s strictest and most advanced due diligence and vetting system. Below is a detailed mapping of the client’s due diligence and approval journey.
- Tier 1: Public database searches (including sanctions databases)
- Tier 2: Public searches
- Tier 3: Background verification checks, conducted by contracted third-party specialist agencies
- Tier 4: Government checks conducted by the Centrul Național Anticorupție (National Anti-Corruption Centre), the Biroul Migrație și Azil (Bureau for Migration and Asylum), and the Security and Intelligence Service, among others.
Montenegro
President Milo Dukanovic said Montenegro economic citizenship program is for credible investors only who have funds originate from legal origin. The implementation of the program will be more efficient and transparent.
