On Feb.3/20, the Dominica Government implemented the following small changes to its processing:
- A world check / pre-screening due diligence check (for the principal applicant) is now required at file submission. This check must be conducted by a reputable due diligence company, and will confirm that the applicant is not on any watch lists.
- Applicants must not have been refused a visa by a country with which Dominica has a visa-waiver agreement (e.g. the Schengen area, or the U.K.).
- Clients of Iran, Sudan, or North Korea nationality will only be accepted if:
- they have lived outside that country for at least 10 years; and
- they do not have substantial assets in that country; and
- they have not performed any business activity in that country.
- The investment and due diligence fees must be transferred directly to the Dominica Government’s bank account, from the principal applicant’s bank account. If a third party is remitting the funds, an explanation must be provided, and “Know Your Client” banking protocols must be followed.
So, an applicant of Iranian nationality could apply if he/she provided a detailed source of funds showing that the funds were earned in another country (and funds must be transferred from that other country). So, an Iranian living and doing business in Dubai for 10+ years could apply if the funds were transferred from Dubai and shown to originate wholly in Dubai.