1. Preliminary Due Diligence. Immigrant Invest lawyers conduct a confidential background check to detect potential risks that could lead to the application being rejected. The Immigrant Invest team includes certified Anti Money Laundering Officers familiar with all the nuances of the Due Diligence procedures.
The check didn’t reveal any red flags in personal, social and professional activities in Oliver’s life.
2. Preparing documents. Immigrant Invest helped collect a package of documents and letters of reference and fill out questionnaires.
Oliver collected the following documents:
International passport.
Birth certificate.
Questionnaire for a program participant.
Documents confirming the investor’s income.
Documents confirming there was no criminal record.
Higher education diploma.
Medical certificate.
Immigrant Invest lawyers submitted documents and helped to choose real estate remotely. At that stage, Olver paid Due Diligence fees.
3. Choosing a property. The minimal amount of Dominica real estate investment is $200,000. The investor chose shared ownership in the hotel. The cost of the share was $220,000.
All facilities to participate in the citizenship program must be approved by the Dominica Government. Oliver сoncluded a preliminary agreement and paid 10% of its cost to reserve an object.
Examples of properties in Dominica
4. Sending documents for Due Diligence. The Dominica Citizenship by Investment Unit (CBIU) has accepted the documents. They started Due Diligence checks, which took about three months. After that, they filed papers for final processing.
We gathered all the necessary documents for Oliver and filed an application enabling him to participate in the Dominica CIP. The documents were required to pass Due Diligence checks, which are mandatory in all Caribbean countries.
5. Approving application. Three months later, Immigrant Invest received a positive response about Oliver’s participation in the investment citizenship program. Approval of the program is the basis for the transfer of investments.
6. Investment payment. Once the Due Diligence checks were successfully completed, Immigrant Invest lawyers prepared documents for fulfilling investment options. Oliver transferred his investment to the escrow agent’s account with the legal support of our specialists.
7. Getting passports. The CBIU printed the passport and naturalisation certificate when the bank confirmed the investment. Oliver received his Dominica passport with a courier, so there was no need to travel to the country.
Oliver’s expenses when choosing the option of buying a share in real estate included the cost of the object, the Due Diligence check, and the state and courier fees.
5 months and $253,111 were needed for Oliver to obtain Dominica citizenship
1
January 11th, 2016 Signing an agreement between Oliver and Immigrant Invest
2
+ 1 dayPreliminary Due Diligence check
3
+7 daysChoosing an investment property
$22,000 — 10% of the property cost under a reservation agreement
4
+ 2 weeksPreparing and sending documents
5
+3 monthsDue Diligence by Dominica CBIU
6
May 5th, 2016Application approval
7
+ 1 weekPayment for investments and ownership registration
$198,000 $25,000 — a state fee
8
+ 4 weeksIssuing a passport and a naturalisation certificate
9
June 13th, 2016 Getting a passport by courier
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