Caribbean Date: 07 September, 2023
2023 began with growing concerns about the security risks of Caribbean CBI programmes. In response, Caribbean Citizenship by Investment programmes are adding mandatory interviews. So, if you are thinking of applying for Caribbean citizenship, you will now have to attend an interview.
Countries adding mandatory interviews include St. Kitts and Nevis. This is the home of the world’s oldest CBI programme. Dominica and Antigua and Barbuda will also interview those making Citizenship-by-Investment applications now.
As will St Lucia. The island’s Citizenship by Investment Unit sent out an Official Memorandum on August 30, 2023. Its subject line was “IMPLEMENTATION OF APPLICANT INTERVIEW & IDENTITY VERIFICATION.”
This memo established September 4, 2023, as the launch date of the country’s mandatory interview for CBI applicants. An additional US$500 due diligence fee applies, but only for the main applicant.
Grenada had delayed starting mandatory interviews. It had been “postponed to a date to be announced.” Investment migration experts expected this to be sooner rather than later.
The industry’s key figures such as Latitude Group CEO and Chairman, Eric Major, were right. Grenada Citizenship by Investment released Circular No. 9 of September 1, 2023. It declares that “the commencement of the (mandatory) interview process will take effect September 4, 2023 for all applications.”
“All applications” is key here as the additional due diligence fees apply to the main applicant and their spouse. Children aged 17 and over plus dependent parents will have to pay them too. As will single applicants and financial sponsors. It’s double the price of St Lucia as well, with a flat US$1,000 for one and all.
The Citizenship by Investment Unit (CIU) of the relevant Caribbean country conducts interviews. The CIU vets applicants and makes sure they meet the requirements for citizenship.
You can schedule an interview in person or online. Prepare to talk about your background, finances, and reasons for applying for citizenship. This grilling will separate the genuine applicants from the unscrupulous ones..
Interviews are a significant step up in the due diligence process for CBI programmes. The Financial Action Task Force (FATF) is an intergovernmental body. It sets standards for combating money laundering and terrorist financing.
A recent FATF report urged countries to strengthen their CBI due diligence. Speaking with potential new citizens is an obvious first step. Citizenship by Investment is becoming more secure and transparent.
If you are considering applying for Caribbean Citizenship by investment, don’t delay. Contact us today for a free consultation. We can update you on all the latest developments with the CBI programmes in the Caribbean, and beyond.
Date: 07 September, 2023
Posted in: Caribbean