Foreign Affairs Minister, Francine Baron, has stated that strict due diligence is followed in applications for Dominican citizenship under the Citizenship by Investment Program (CBI).
She stated that several agencies, together with the government, make sure that there is a “strict observance of the requirements” in the due diligence process.
She was speaking at a Private Sector Forum held at the Fort Young Hotel last week.
According to Baron, Ipsta International Inc, Thompson Reuters GRC Inc, S-RM Intelligence and Bishop Services are among the agencies that facilitate the process of due diligence so that it is sound and accurate. Subsequent to that, the backgrounds of applicants are assessed.
“Additionally checks are carried out by IMPACS, that is the CARICOM Implementing Agency for Crime and Security, and governments are asked to run the names through their database,” she said.
She also noted that if there is an unfavorable report from an applicant then such an applicant will be rejected.
“If it is favorable, then the applicant is evaluated further by the examiners of the unit. If it is felt that an interview is necessary, then this will be arranged,” Baron stated.
She said that two committees are appointed to conduct an interview of that nature.
“The committees are chaired by the Attorney General and the Financial Secretary respectively, and includes representatives of the special branch of the police force and senior staff of the Citizenship by Investment Unit,” she explained.
Baron made it clear that it is only after applicants successfully pass the process of due diligence that “the recommendation for the granting of citizenship is made.”
“At that point the applicant is asked to pay the investment fee, and on receipt of that fee, a certificate of nationalization is issued,” she remarked.