Dominica CIP’s Due Diligence “Has Been Lax” Says US State Department in Report

While largely satisfied with the vetting standards among CIP jurisdictions, the State Department expressed concerns regarding the due diligence in Dominica.

IMI Founder

Christian Henrik Nesheim

The US State Department’s recently released International Narcotics Control Strategy Report (INCSR) made passing mentions of citizenship by investment jurisdictions in the Caribbean and Europe. While largely satisfied with the vetting standards among CIP jurisdictions, the State Department expressed concerns regarding the due diligence in Dominica.

Under Dominica’s Citizenship by Investment Programme, “due diligence has been lax,” states the report. “Dominica does not consistently use available regional mechanisms, such as the Joint Regional Communications Center (JRCC), to properly vet candidates. The CBIU does not always deny citizenship to those who are red flagged or given negative dispositions from the JRCC and other institutions.”

The report further indicated a general disquiet among American authorities regarding the proliferation of CIPs.

“U.S. law enforcement is increasingly concerned about the expansion of citizenship by investment programs due to the possibility of local corruption and the visa-free travel and ability to open bank accounts accorded these individuals,” said the report.

How prepared are you for sudden geopolitical shifts?

Find out where you're exposed — and what to do about it — in 3 minutes. From freedom of movement and backup jurisdictions to economic independence and asset spread.

Check your Sovereignty Score now and get a personalized action plan.

Check My Sovereign Score