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Dominica has issued updated Citizenship by Investment (CBI) regulations, focusing on adherence to the 6 CBI Principles agreed upon by five Caribbean CIP countries and the US Treasury.
The key highlights include:
The introduction of mandatory interviews with a corresponding $1,000 fee
Consistent treatment of denied applicants across the Caribbean and automatic information-sharing with the Joint Regional Communications Centre (JRCC).
Enhancing the government's powers to revoke citizenship and recall passports in specific scenarios, such as significant prison sentences or name changes within five years of approval.
Issuing stricter criteria for adult dependent qualification, as they must now show evidence of full financial dependency on the main application and full time enrollment in higher education institutions.
The new regulations also increase fees for authorized agents and licensed promoters, requiring them to pay higher initial and annual fees. Dominica's new regulations also impose greater responsibilities on authorized local agents, emphasizing their role in overseeing sub-agents or international partners and ensuring prompt payment of annual fees.
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