The Commonwealth of Dominica Citizenship by Investment Regulations gazetted in 2024, now establishes Financial Intelligence Unit (FIU) to protect the integrity of CBI program and efficient vetting of candidates. All background and due diligence checks shall be
commissioned by the Financial Intelligence Unit which shall engage one or more approved due diligence agencies to conduct these checks in accordance with the regulatory requirements.
The new regulations constitute a clear focus on CBI programme’s integrity, particularly the landmark establishment of Financial Intelligence Unit within the CBI
– Dominica Government in a Press Release
Every application that is submitted and every due diligence report received shall be examined by the Financial Intelligence Unit and every applicant shall attend an interview
virtually or in person. The Financial Intelligence Unit shall, on a monthly basis, share with the Joint Regional Communications Centre of CARICOM IMPACS (JRCC) the names and bio data of all applicants who have been denied citizenship of Dominica. JRCC is authorised to share the information in subregulation (11) with any other Caribbean jurisdiction operating
a Citizenship by Investment Programme
Role of FIU
The Financial Intelligence Unit shall not consider an application for citizenship under these Regulations where the main applicant or any of his or her dependants is a citizen of a
specified country or region unless – the Financial Intelligence Unit is satisfied upon
conducting an enhanced due diligence background check under subregulation (1) that the main applicant and all of his or her dependants pose no actual or potential threat to the national security or interests of the Commonwealth of Dominica or any other jurisdiction;
- Review and process all applications for citizenship made in accordance with Regulations;
- Ensure that all due diligence background checks are comprehensive and completed throughout the application process, including compliance with the mandatory interview requirements; and
- Ensure sufficient information is provided to justify any recommendation to the Minister concerning an application or applicant.
- The Financial Intelligence Unit shall conduct an enhanced due diligence background check on applicants named in an application for citizenship under these Regulations, where the main applicant or any of his or her dependants is a citizen of a specified country or region.
