Strength of Dominica’s CBI lies in its due diligence says Rosamund Edwards

Edwards spoke at a consultation on Monday

Financial Secretary, Rosamund Edwards, has said that the strength of Dominica’s Citizenship By Investment (CBI) Program lies in the quality of due diligence carried out on its applicants.

She made that statement at a National Consultation on Economic Development in Dominica on Monday, April 24th at the State House.

The program has been heavily criticized by the Opposition on allegations of a lack of transparency but Edwards said Dominica “has a competitive advantage” over other Caribbean countries based on the quality of its due diligence process.

“We are further advised that even where some countries have further investments, many applicants have indicated a preference for the Dominican program based on its due diligence,” she said.

She also stated that these processes are facilitated by “reputable” due diligence agencies in the United States, United Kingdom, and in Canada.

“Due diligence reports are commissioned exclusively by the (CBI) Unit and the reports are convened directly to the Unit by the relevant due diligence agencies,” Edwards added.

She assured those gathered that the information provided within the due diligence reports are kept confidential.

“Reports are not provided to, seen by or discussed with either agents or applicants,” she said.

Edwards highlighted the noticeable increase in the number of applicants under the CBI Program over the past couple of years.

According to her, the statistics are as follow; 2012– 332 applications received, 104 approved, 3 declined; 2013—161 application received, 184 approved; 2014—206 application received, 189 approved; 2015—660 applications received, 447 approved; 2016—1,574 applications received, 1,542 approved.

With regards to the year 2013, Edwards explained that based on the time individuals applied under the program in 2012; their applications were processed in the following year, 2013.

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28 Comments

  1. Zamm
    April 26, 2017

    You guys are just paid to lie and fool around with gullible Dominicans.
    What foolishness is that about consultation on CBI? You guys should have consulted Dominicans years ago, and not after the scandals.
    Uwp must keep exposing the corrupt programme.
    To much nonsense…… Free good, free drinks, free paper n free photo shoot. Gutter politics.

  2. shrewd
    April 26, 2017

    Cojolery, don’t you want to sell as many passports as possible? less due diligence more passports sold, it’s that simple. These programs are primarily for none reputable people.

  3. FS tainted-by-system
    April 26, 2017

    Poor souls. The FS has no choice but to prais tthe what her boss is doing whether questionable or not, whether right or wrong. If people like her do not give support praise to Massa, expect victimization, pressure and other ills

    The FS has said nothing, and will say nothing concerning the sale of our diplomatic passports to international criminals and crooks involved in fraud, money-laundering, embezzlement of millions/billions of dollars. corruption of the highest degree. why would the FS and other top civikl servants allow themselves to be in support of what is wrong. She knows that a few, a select few have become wealthy in Public office, by dubious means. But alas !!!!

    No surprise at all at the FS behaviour. so everything is right with the way the finances of the country is utilized? What about accountability and transparency about matters that affect citizens?

    So many have allowed themselves to be taken over by system and care less about their credibility.

  4. Anonymous
    April 25, 2017

    Is the statistic incomplete? Based on the article, 464 applications were pending action from inception to 2016. The report indicates #s declined in only 1 of the 5 years under review.

  5. Writing is on the wall
    April 25, 2017

    I guess every rabbit should poke it’s head out now…oh yes it’s spring.

    come on sing for your supper

  6. Damas Victor
    April 25, 2017

    Miss Edwards, from your statements, you seem to suggest that applicants for CBI passport prefers Dominca’s program (a feather in our cap) but even me who is not a brain surgeon or a rocket scientist, neither am I a fellow in Quantum reasoning and Logic (as my name may indicate) can figure out why we are so popular with those kind of people ( Monfarfd, Muebeke, Corolla) … and lord knows whoever else bearing our citizenship; after all, if I was a cow I would rather try jumping over the lower part of a fence or if I was a roach I would hide in an obscure corner of the cabinet instead of being in full view of a sport light.

  7. Tj
    April 25, 2017

    YHE questions will continue, the criticism will contnue until the CBI program come clean and transparent and a good accounting. Ms Edwards facilitate.

  8. Jonathan St jean
    April 25, 2017

    Ms Edwards,you must think that you are talking to fools.If the strength of Dominica’s CBI program is the due diligence part then explain how come international criminals received passports.Also why didn’t you or Skerritt or Tony or Alick Lawrence appear on CBS 60 minutes program to state that when the opportunity was offered to state that which would heve gone to an international audience.Liar,liar your clothes are on fire

  9. Anthony P. Ismael
    April 25, 2017

    I never understood why the CBI Program wasn’t’ run under the auspices of a duly elected government. Passports belong to the sovereign state and not “Greedy Passport Agents.” I wish Ms. Edwards would clarify that point for us.
    Irrespective of the nonsense spewed by the blind Labor Supporters, we are beginning to see the fruits borne out from consistent pressure by members of the opposition. The job of the opposition is to serve as a gadfly and a protector of the nation.

  10. “The program has been heavily criticized by the Opposition on allegations of a lack of transparency but Edwards said Dominica “has a competitive advantage” over other Caribbean countries based on the quality of its due diligence process.”

    Lady, read your stupid comments, and analyze your stupid rhetoric, you will find out you are not even expressing yourself in an intelligent way!

    You are only another benefactor of this corrupted scam, part of the cabal singing for a bloody plate of food. Where is your commonsense? The sale of passports is not an industry, it does not employ anybody, except people like you who for some reason would rather die than condemn the practice.

    What crap competitive advantage are you babbling about, which island in the Caribbean is in competition with backward Dominica? Dominica is the more backward of them all.

    You are as delusional as the Roosevelt and the rests of the puppets like you in the cabal!

  11. stupendous
    April 25, 2017

    Isnt Mrs. Edwards concerned about her own legacy and the history she leaves behind for her children and siblings to refer to . I believe she is aware of many many flaws yet she goes with the flow; history will record you as being FS during Dominica’s most corrupt era.

    • April 25, 2017

      As a Dominican I\’m outraged with Edwards and her lack of concern for the people of D\’ica how can as a woman don\’t have concern about the poor women on the Island and how can she accept corruption as the morn ,these men/woman that are in the Government to leave just walk out the door and allow the development to move forward instead they go out there trying to give the people fake news and in the process lying too when will it end.

    • Observer
      April 26, 2017

      Name one aspect of the program that this Dominican hard worker ought to be ashamed of. Please provide the EVIDENCE. No more \”Fake News\”.

      • stupendous
        April 26, 2017

        Observer I am not in the business of spoon feeding people especially who are fully aware – pretending not to be aware of the many flaws then all glory to you -in that case better you change your name from observer to wonderer!

  12. Fedup #1
    April 25, 2017

    The increase is directly related to the change of gov’t in St Kitts in February 2015. Guess there are “economic terrorists” operating in other countries in last couple years. Will say no more.

  13. REAL!!!!!!
    April 25, 2017

    So in 2013 more was approved than received….What Hanky Panky business is this.

    2013: 161 received and 184 approved!!!!

    2012-2016: we only declined 3 applicants. Due Diligence at his highest….Something is wrong!!!!!!

    • LifeandDeath
      April 25, 2017

      Corruption and supposed necromancy does make smart ppl say and believe dumb things…With such high levels of due diligence only three applications were rejected..and then we saying we need a rocket scientist IQ to be FS? You make a boss observation..simple tings does confound the wise..

    • Observer
      April 26, 2017

      As though everyone who is interested in the program and actually applies have something criminal to hide. Is that the reasoning? yes the 2013 statistic needs some clarification

      • stupendous
        April 26, 2017

        What you said? The 2013 statistic needs some clarification? At least you are beginning to observe- keep on making observations I am sure you will come up with many more only if you allow yourself to be open minded and to go deep into I will your word SOME but for me most of the workings of government especially Ministry of Finance.;

    • Keeping Watch
      April 26, 2017

      The lady said, “With regards to the year 2013, Edwards explained that based on the time individuals applied under the program in 2012; their applications were processed in the following year, 2013”.

      This to me explains why more were approved than received in 2013….Duh!

  14. LifeandDeath
    April 25, 2017

    Okay Mrs. Edwards..thx for letting us know that…in that case will you stand up to the fleecing that is going on?..With all this purported strong due diligence how do the likes of Monfared, Madueke and so on get a Dominica passport?
    Are you all forced to defy the obvious? Are you under duress Mrs. Edwards? Somebody had better start speaking the truth or send some code message to let the public know that all this is scripted for the Dominica Silver Screen..

  15. JBaptiste
    April 25, 2017

    “applicants have indicated a preference for the Dominican program based on its due diligence,”

    In other words applicants rather Dominican passport because its more difficult to get. What a thing. Do these people believe what they say?

    • Ibo France
      April 26, 2017

      @jbaptiste I wondered the same thing. If something is more difficult to be had, would one be more inclined to gravitate towards it? Doesn’t seem logical to me. This event sole purpose was to mislead the public into thinking that all is well with the CBI program, it is the panacea for all the country’s problems.

  16. viewsexpressed
    April 25, 2017

    Ms. Edwards, where have you been all this time? Why the talk now of “Due Diligence….?”. I guess Hon Linton, the UWP and we Dominicans have been advocating this for years. The “Due Diligence” stares in parliament where our representatives are able to come debate, ask questions, support and contribute to its implementation. Due diligence is something not known and practised by the corrupt Labour government. You are a top government civil servant and professional, we understand your tasks to act in the best interest of the people of Dominica.

  17. Spike
    April 25, 2017

    No one buys a CBI passport in order to undergo a high-quality investigation; the investigation is simply something Dominica must do to protect its own credibility and the prerogatives abroad of all its passport holders. People search for flags-of-convenience because of convenience, provided the nation does not get a reputation as a drug-lord haven. Ms. Edwards’ claim is measurable, and should not be dismissed if the opposition finds a few counterexamples. Her figures do show that, in the latest reporting period, in only 2% of cases did the government decline to take the money.

    • Non-Dotish Dominican
      April 25, 2017

      And again I ask; not sure that you have the answer- was the account at RBC closed by the bank? If so, why?

    • viewsexpressed
      April 25, 2017

      You have just covered one section of the issues we have of the CBI. It is welcomed. The government now has to come forward doing away with all this secrecy, the Monfared’s, ridiculous senior counsels and undertake the peoples` work seriously. Until an inquiry is called and well conducted I do not trust Skerrit and his corrupt band of Labour government.

  18. Non-Dotish Dominican
    April 25, 2017

    All you Rosamund looks stunning in that picture. Kudos!

    Please confirm or deny that the Royal Bank of Canada closed the government’s CBI account a few months ago. If the account was closed, what was the reason for this?

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