Due diligence is an extensive investigation conducted on applicants to verify their identity and background, with a view to confirming that they are not a politically-exposed person (PEP) or associated with any criminal activity. Due diligence and background checks are usually conducted by an independent professional firm engaged by a country’s CIU.
Due diligence is an important part of the CBI process as it ensures the integrity of the global investor migration industry as a whole.
All applicants for Citizenship by Investment must undergo stringent due diligence checks before their application can be approved. Where due diligence checks are unable to be conducted in certain countries, for example, due to their political instability or the refusal of the countries’ governments to cooperate, Caribbean CBI countries may prohibit citizens of those countries from applying for citizenship by investment.
The Caribbean CBI programmes impose mandatory interview requirements on applicants. For example, Dominica requires all applicants aged 16 or over to attend an interview. Additionally, St Kitts and Nevis requires all main applicants to attend an interview. Likewise, Grenada requires all applicants aged 17 or over to attend an interview.