The Citizenship by Investment (CBI) Program of Dominica has announced some important changes that will affect applicants from Iran and those who are 16 years old and above. These changes will take effect from July 17, 2023.
According to a notice sent to the authorized agents of the CBI Program, all applicants who are 16 years old and over will have to undergo mandatory interviews as part of the due diligence process. The agents are advised to inform all their clients of this new requirement and prepare them accordingly.
Additionally, the Republic of Iran has been designated as a specified country/region under the CBI Program, which means that enhanced due diligence will be conducted for all applicants who are citizens or domiciled in Iran. This will also entail higher fees for the due diligence process, as follows:
- US $25,000 for the main applicant;
- US $15,000 for the spouse;
- US $15,000 for each dependent 16 years of age and over; and
- US $10,000 for each dependent 12 to 15 years of age.
The notice urges the agents to cooperate fully and urgently with these changes, as they are meant to ensure the integrity and reputation of the CBI Program. The CBI Program of Dominica is one of the most reputable and transparent programs in the world, offering a range of benefits to investors who wish to obtain a second citizenship and passport. These benefits include visa-free or visa-on-arrival access to over 140 countries, tax advantages, security and stability, and access to quality education and health care.
For more information, please contact us.