In recent weeks, DominicaSt. Kitts, and Grenada have undertaken significant enhancements to their due diligence procedures by implementing a mandatory requirement for application interviews. This long-anticipated development follows a comprehensive round table discussion amongst Caribbean heads of state and the US Government that took place back in March 2023.

Dominica initiated the practice in July, with Grenada and St. Kitts subsequently adopting similar measures. Applicants aged 16 and above will now be mandated to participate in application interviews. While comprehensive administrative specifics are yet to be released by certain jurisdictions, St. Kitts has confirmed the engagement of a professional firm commissioned by the Citizenship Investment Unit for conducting interviews. These interviews can be facilitated virtually, in person within St. Kitts, or in person at alternative locations endorsed by the Board of Governors.

This move is poised to enhance the transparency and credibility of the respective Citizenship by Investment (CBI) programmes, establishing a new standard that other nations offering CBI may soon adopt. It is expected that St Lucia and Antigua will likely follow suit and make further announcements in the coming weeks.

The introduction of application interviews provides an additional layer of due diligence and transparency, allowing authorities to delve deeper into an applicant’s background, sources of funds, and overall eligibility. This helps in filtering out individuals who might not have the best interests of the country at heart. Although some may view this new step as a potential hurdle for applicants, we feel this positive move demonstrates each of these countries’ commitment to the highest standards of integrity which should help alleviate external concerns about the misuse of citizenship privilege. This added due diligence will also allow these nations to maintain healthy relationships with the countries they hold visa-free arrangements with, which is ultimately a positive move for the industry.

In addition to the above amendments, St Kitts also doubled the cost of their minimum investment requirement this month. 2023 has been a turbulent year for the RCBI industry with many countries making significant changes to their programmes in response to external pressures from the EU and US, as well as global security considerations. We fully support these positive changes but do encourage investors to act quickly when proceeding with a programme as legislation can be changed at short notice.

**Update 31st Aug** St Lucia has now announced that their application interviews will commence for all CIP applicants from 4th September 2023.

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Tags: antigua, Caribbean Citizenship by Investment News, citizenship by investment 2023, citizenship invest, dominica, grenada, st kitts, st lucia

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