The Citizenship by Investment (CBI) programmes of Dominica, St Kitts and Nevis and Malta has secured the top positions in the pillar of Due Diligence by scoring a perfect ten in the CBI Index 2022 released by Professional Wealth Management (PWM) Magazine of Financial Times.
The magazine has recognised these countries for their stringent due diligence processes, which is a lengthy six-step procedure that is done to better understand the individual applying for the CBI programme.
The CBI Index has praised the due Diligence of these countries and has regarded them as the world’s best. Not only this, the citizenship by investment programme of both the Caribbean nations, St Kitts and Nevis and Dominica, has been regarded as the world’s best by the Financial Times’ PWM Magazine.
The index said that the three nations comprehend their responsibility to assure national and international safety and take wise steps to make the streamlined procedure efficient and best.
The citizenship by investment programme (CBI) has been praised for its vigorous, stringent and robust due-diligence background checks. The multi-layered background checks are carried out internally by the citizenship by investment unit based on the original and authorised supporting documents an agent submits with your application, as well as externally by the third-party enterprise.
The government of St Kitts and Nevis, Dominica and Malta has employed the world’s top-tier independent third-party agencies to study the character, source of investment, and applicants’ documents. The checks are not only restricted to online information but also do comprehensive on-ground examinations to assure that an individual of only the highest character is granted citizenship. The background checks help preserve the programme’s integrity and assure national and international security.
The CBI Index 2022 highlighted that Dominica, Malta and St Kitts and Nevis assumed the changes in the vetting procedure instantly and have held the due-diligence standards to improve the integrity of their CBI offering.
The due diligence agencies perform multi-layered checks, which these countries have hired, as they do not just rely on the preliminary information given by any of the sources. A strict and rigid process is followed so that only deserving and legal investors receive the host country’s citizenship.
The details of the investors are checked thoroughly by more than a single expert, including their criminal records from all over the world are also analysed.
Due diligence procedures are very important before providing alternative citizenship to an investor. In-depth information is needed when a country offers alternative citizenship to any individual. Information such as who they are, where they are from, and where their funds are coming from is gathered to comprehend the background of the applicant.
Dominica, St Kitts and Nevis and Malta engage a third-party expert to check the investors in an in-depth manner, such as document verification checking who they are by looking at the things like birth and marriage certificates, education – as well as business qualifications. Criminal background, source of wealth and reputation is also closely inspected.
The CBI Index 2022 mentioned that adequately carried out due diligence safeguards not only the country and its population but also the reputations of the citizenship by investment programme and its international partners, and these three nations examine every application of the CBI programme through robust due Diligence.
The CBI Index 2022 noted, “As with last years, Dominica, Malta and St Kitts and Nevis retain perfect scores for the Due Diligence Pillar because of their stringent and comprehensive requirements.”
Due Diligence is one of the effective procedures followed during the process of acquiring Citizenship by Investment from the host countries. As per different CBI Programme experts, nations of the Caribbean region have been providing the best, secure and safest programmes in the world due to their rigid and robust due diligence process.
The authorities assure a safe along with, secure environment for the investor and his family. The due diligence process carried out by these nations follows all international standards and is a transparent process.
The report of CBI Index 2022 stated that Dominica, St Kitts and Nevis and Malta hire the best due-diligence firms to assure that no illegal individual is granted alternative citizenship.
The CBI programmes of 13 jurisdictions have been considered in the CBI Index 2022, in which the programmes were scrutinized through nine pillars of excellence. Dominica, St Kitts, and Nevis scored a perfect 10 in six of nine pillars and held the top position among others.
Other than this, St Kitts and Nevis, Dominica and Malta have secured the due-diligence procedure again and have left behind ten other nations offering similar programmes in the Caribbean region, Asia, Europe and beyond.