Category: Asean

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Enovis Completes Acquisition of LimaCorporate S.p.A

WILMINGTON, Del., Jan. 03, 2024 (GLOBE NEWSWIRE) — Enovis™ Corporation (NYSE: ENOV, “Enovis” or the “Company”) an innovation-driven, medical technology growth company, today announced that it closed the acquisition of LimaCorporate S.p.A. (“Lima”), a privately held global orthopedic leader focused on restoring motion through an innovative portfolio of implant solutions.

Lima strengthens Enovis’ position in the global orthopedic reconstruction market with a complementary portfolio of proven surgical solutions and technologies, which will accelerate global growth and margin expansion. In addition, Lima’s portfolio includes 3D printed Trabecular Titanium implants and a comprehensive revision offering in shoulders, which will further strengthen the Company’s position in the fast-growing extremities market.

“We are excited to welcome Lima’s talented team to Enovis. The combination brings Enovis’ recon segment to $1 billion in revenues and creates a fast-growing innovator in the global orthopedic reconstruction market. This is another great example of how we use strategic acquisitions to accelerate our growth, add great technologies and talent to our company, and drive compounding value for our shareholders,” said Matt Trerotola, Chair, and Chief Executive Officer of Enovis.

About Enovis Corporation
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent, and innovation, the Company’s extensive range of products, services, and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.enovis.com

Forward-Looking Statements
This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding the Company’s plans, objectives, expectations and intentions and other statements that are not historical or current fact. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause the Company’s results to differ materially from current expectations include, but are not limited to, risks and uncertainties regarding the Company’s and Lima’s respective businesses, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the effects of the acquisition on the Company’s and Lima’s operations, including on the combined company’s future financial condition and performance, operating results, strategy and plans, including anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, losses, future prospects, and business and management strategies for the management, expansion and growth of the new combined company’s operations; the potential impact of the consummation of the acquisition on relationships with customers, suppliers and other third parties; and the other factors detailed in the Company’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption “Risk Factors,” as well as the other risks discussed in the Company’s filings with the SEC. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. The Company disclaims any duty to update the information herein.

Investor Relations Contact
Kyle Rose
Vice President, Investor Relations
Enovis Corporation
+1-917-734-7450
investorrelations@enovis.com

Media Contact
Katie Sweet
Vice President, Corporate Communications
Enovis Corporation
Katie.sweet@enovis.com

GlobeNewswire Distribution ID 9011517

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Sweegen Triumphs in Federal Court Appeal, Securing Victory Against PureCircle

Foothill Ranch, Calif., Jan. 02, 2024 (GLOBE NEWSWIRE) — Sweegen, the global leader in pioneering wellness ingredient and taste modulation technologies, announced a landmark victory in the U.S. Court of Appeals for the Federal Circuit, which has sided with Sweegen and affirmed the invalidation of PureCircle’s patents covering the highly sought-after stevia sweetener Rebaudioside M (Reb M).

Sweegen is the primary producer of non-GMO Reb M originating from the stevia leaf, made with a proprietary clean bioconversion method. This appellate victory further solidifies Sweegen’s technological leadership position in the stevia sweetener industry at large.

Reb M, a highly coveted steviol glycoside molecule, plays a crucial role in the global production of stevia sweeteners. This Federal Circuit decision removes any lingering doubt that Consumer Packaged Goods (CPG) customers may be encumbered by PureCircle’s patents for using Sweegen’s Reb M.

“As one of the staunchest stewards of proprietary technologies in wellness ingredients, Sweegen has actively defended its intellectual property rights while upholding a commitment to respecting the rights of others,” stated Sweegen’s CEO Steven Chen. “Throughout this litigation, we consistently asserted the invalidity of PureCircle’s patents, considering their case against Sweegen as baseless and spurious. This triumph in the U.S. Court of Appeals serves to highlight Sweegen’s dedication to principled innovation and fair competition within the industry.”

In May 2022, Sweegen secured a groundbreaking summary judgment, declaring PureCircle’s asserted patents related to the production of Reb M as invalid. The affirmation today of this judgment by the U.S. Court of Appeals for the Federal Circuit solidifies Sweegen’s position and removes any impediments that PureCircle’s patents may have posed for producers in the United States. Specifically, the federal court’s Opinion confirmed the district court’s decision that certain claims in the patents were found invalid due to a lack of written description. Additionally, it determined that a specific claim in one of the patents is unpatentable under 35 U.S.C. § 101.

“Sweegen’s commitment to innovation, excellence, and fair competition has been reaffirmed through the successful appeal process,” said Chen. “This victory not only strengthens Sweegen’s position in the market but also contributes to the broader landscape of the stevia sweetener industry. Sweegen is positioned to lead the charge in shaping a landscape of limitless possibilities, delivering unparalleled sweetness to consumers and driving positive change on a global scale.”

Sweegen remains committed to driving positive change within the sweetener industry and will continue to invest in research and development to deliver cutting-edge solutions to its global customer base.

In Nov. 2023, Sweegen announced it was addressing the pressing issue of mislabeling within the stevia industry, specifically concerning Reb M stevia sold under intentionally false claims. Through independent testing, the company has determined that certain third-party Reb M products sold to food and beverage companies under label claims of “Reb-M 95%,” “Bioconversion Reb-M 95%,” or “Stevia (Organic) Extract Reb-M 95%” are not made through extraction or bioconversion. Sweegen continues its investigation into the adulterated Reb M.

The U.S. Court of Appeals for the Federal Circuit case is Pure Circle Inc., et al v. Sweegen, et al., case number appeal number 2022-1946.

This Appeal is from the first summary judgment case PureCircle USA Inc., et al. v. Sweegen, Inc., et al., case number 8:18-CV-01679-JVS-JDE, in the United States District Court, Central District of California, Southern Division, Judge James V. Selna. Sweegen was represented at both the US District Court and the Federal Circuit by John Christopher “JC” Rozendaal, Dennies Varughese, Michael E. Joffre, Anna G. Phillips, and Sasha Rao of the law firm Sterne Kessler Goldstein & Fox PLLC.

About Sweegen
Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet.  Partnering with customers, we create delicious zero-sugar products that consumers love.  With the best modern sweeteners in our portfolio, such as Bestevia® Rebs B, D, E, I, M, and N, and brazzein, along with our deep knowledge of flavor taste modulators and texturants, Sweegen delivers market-leading solutions that customers want, and consumers prefer. Well. Into the Future.

For more information, please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Attachment

Ana Capretz, Head of Public Relations and Communications
Sweegen
+1.949.709.0583
ana.capretz@sweegen.com

GlobeNewswire Distribution ID 9011707

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80 countries participate in Ministerial Roundtable

FMF strengthens the Kingdom’s leadership in enabling the Super Region to contribute to the metals industries of the future

RIYADH, Saudi Arabia, Jan. 02, 2024 (GLOBE NEWSWIRE) — The Future Minerals Forum (FMF) announced today that its Ministerial Roundtable, due to be held on 9 January 2024, ahead of the third edition of the Forum, is set to break attendance records. Of the eighty countries so far confirmed to attend, more than forty-five will be sending ministers to take part in discussions with stakeholders in this one meeting, in addition to 20 official international organizations, 30 non-governmental organizations and 13 business associations.

As the highest level gathering on minerals in the world, the Roundtable represents a historic turning point for the global mining and metals sector, the contribution of the Super Region extending from Africa to West and Central Asia, and the Kingdom’s leadership role in this sector and region.

The Ministerial Roundtable is a government-led multi-stakeholder initiative created by Saudi Arabia to enhance international cooperation on producing critical minerals involved in transforming the energy sector. The meeting comes when the mineral sector faces unprecedented challenges driven by the increasing demand for energy transition minerals and metals, where all countries are racing to secure stable supply chains.

Furthermore, the Ministerial Roundtable promotes the importance of collaboration to address this anticipated global challenge.

H.E. Vice-Minister for Mining Affairs, Khalid Al-Mudaifer, highlighted that the number of ministers who had confirmed their attendance at the Roundtable reflects the political and economic weight of the Kingdom and the increasing importance of minerals in recent years, this level of attendance demonstrates that FMF has established itself as a leading global platform for shaping the future of minerals. H.E. stated, “High-level government representation, from countries producing and consuming minerals, means that governments from across the world are now aware of minerals’ importance, as they seek to secure reliable supply chains for them. This is especially relevant to the strategic minerals that are essential to energy transformation programs and projects, and related industries.”

The Roundtable will include discussion of the competition that the metals market is witnessing at international level and how to create room for countries, in the midst of this competition, to reach agreement between themselves.

Media Contact:
Omar Shereen
Omar.shereen@fleishman.com
+966 50 663 0489

GlobeNewswire Distribution ID 1000906717

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Future Minerals Forum Advances Global Discussion on Clean Energy Transition

New Partnerships to Shape Conversations on Sustainable Development in Global Metals and Minerals at Future Minerals Forum 2024

RIYADH, Saudi Arabia, Dec. 26, 2023 (GLOBE NEWSWIRE) — The Future Minerals Forum (FMF), scheduled to take place 9-11 January in Riyadh, Saudi Arabia, today announced three new strategic partnerships to inform the global discourse on minerals and their critical role in sustainable global development and the need to transition to new energy sources. The new partnerships with CRU Group, Global AI and Wood Mackenzie will deliver business intelligence and insights in a series of studies to be published ahead of FMF. They complement existing partnerships with McKinsey & Company, Payne Institute for Public Policy, Clareo-DPI and Baker Institute.

Wood Mackenzie is embarking on a pivotal study to define the super region’s potential. The white paper will identify key drivers for the creation of sustainable value chains as well as highlight the current challenges facing the global minerals and how they affect the minerals industry across this resource-rich area. This report will serve as a crucial guide for stakeholders by establishing the foundations for what can be achieved from governmental and market collaboration as the region looks to unlock its resource potential to better enable the energy transition.

Global AI is set to conduct a comprehensive global sentiment analysis using state-of-the-art artificial intelligence, focusing on mining and mineral operations across the Super Region. This analysis aims to shed light on societal perceptions to inform dialogue on the roles governments, the private sector, and civil society must play in securing social license to operate, ensuring mining operations deliver tangible benefit local communities and minimize impact on the environment.

Meanwhile, CRU’s report will highlight the urgency of addressing critical mineral bottlenecks to meet climate goals, with a focus on the Middle East, Africa, and Central Asia as key future suppliers.

Together, these insights all align with FMF’s mission to enable the development of sustainable mineral industries, place the Super Region at the forefront of the global minerals conversation, and shape responsible mining practices. FMF, as a government-led, multi-stakeholder platform, aims to catalyze dialogue among industry leaders, policymakers, and stakeholders to drive progress toward a more sustainable and prosperous future in mineral development.

Media Contact:
Omar Shereen
E: Omar.Shereen@fleishman.com
M: +966 50 663 0489

GlobeNewswire Distribution ID 1000906107

Posted on

Future Minerals Forum Advances Global Discussion on Clean Energy Transition

New Partnerships to Shape Conversations on Sustainable Development in Global Metals and Minerals at Future Minerals Forum 2024

RIYADH, Saudi Arabia, Dec. 26, 2023 (GLOBE NEWSWIRE) — The Future Minerals Forum (FMF), scheduled to take place 9-11 January in Riyadh, Saudi Arabia, today announced three new strategic partnerships to inform the global discourse on minerals and their critical role in sustainable global development and the need to transition to new energy sources. The new partnerships with CRU Group, Global AI and Wood Mackenzie will deliver business intelligence and insights in a series of studies to be published ahead of FMF. They complement existing partnerships with McKinsey & Company, Payne Institute for Public Policy, Clareo-DPI and Baker Institute.

Wood Mackenzie is embarking on a pivotal study to define the super region’s potential. The white paper will identify key drivers for the creation of sustainable value chains as well as highlight the current challenges facing the global minerals and how they affect the minerals industry across this resource-rich area. This report will serve as a crucial guide for stakeholders by establishing the foundations for what can be achieved from governmental and market collaboration as the region looks to unlock its resource potential to better enable the energy transition.

Global AI is set to conduct a comprehensive global sentiment analysis using state-of-the-art artificial intelligence, focusing on mining and mineral operations across the Super Region. This analysis aims to shed light on societal perceptions to inform dialogue on the roles governments, the private sector, and civil society must play in securing social license to operate, ensuring mining operations deliver tangible benefit local communities and minimize impact on the environment.

Meanwhile, CRU’s report will highlight the urgency of addressing critical mineral bottlenecks to meet climate goals, with a focus on the Middle East, Africa, and Central Asia as key future suppliers.

Together, these insights all align with FMF’s mission to enable the development of sustainable mineral industries, place the Super Region at the forefront of the global minerals conversation, and shape responsible mining practices. FMF, as a government-led, multi-stakeholder platform, aims to catalyze dialogue among industry leaders, policymakers, and stakeholders to drive progress toward a more sustainable and prosperous future in mineral development.

Media Contact:
Omar Shereen
E: Omar.Shereen@fleishman.com
M: +966 50 663 0489

GlobeNewswire Distribution ID 1000906107

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[INVNT GROUP]™, the Global Brand Storytelling and Marketing Agency Portfolio, Marks a New Era in Global Expansion with Significant Advances in United Arab Emirates (UAE)

From Expo2020 Dubai, to Audi, and technological world-firsts at COP28, the agency portfolio is powering immersive brand activations, campaigns and strategies, engaging local audiences, leaders, and the international community throughout the region

Dubai, United Arab Emirates, Dec. 20, 2023 (GLOBE NEWSWIRE) — [INVNT GROUP] THE GLOBAL BRANDSTORY PROJECT™ strengthens its commitment to EMEA and the UAE, growing it’s local Dubai team and full-service, integrated, strategic, and experiential marketing services to partners and clients including PepsiCo (Aquafina, Gatorade, Lay’s, Rockstar Energy), Audi, COP28, Emirates Airline, and more.

The group represents a growing portfolio of complementary disciplines designed to help forward-thinking challenger brands everywhere, impact the audiences that matter, both globally and locally.

[INVNT GROUP] established its presence in the UAE with the architecting of three interactive, award-winning PepsiCo pavilions at Expo 2020 Dubai (2021), which featured activations with hall-of-fame athletes Lionel Messi, Serena Williams, and Usain Bolt, welcoming over 24 Million people across 6 months. The success of the global gathering led to the INVNT-produced launch event of PepsiCo’s Rockstar Energy, a market-first in the region, setting the stage for a series of milestone campaigns and projects including: COP28 in Dubai, Audi’s Investor Gala at the Geneva International Motorshow in Qatar, and the Emirates Airline debut of their industry first, immersive experience employee training platform, MIRA, at the Dubai Air Show.

For COP28, INVNT designed, produced, and project managed a series of activations, seamlessly integrating the traditionally separate Blue and Green Zones into a comprehensive experience at the repurposed Expo city site, accommodating for a daily crowd of 70,000 attendees.

INVNT’s activations at COP28 included:

  • The “Tree of Life”: A world-first, interactive, Artificial Intelligence powered digital art installation and contemporary symbol of environmental sustainability, educating attendees about the key themes and topics of COP28. The AI-generative art experience allowed for individuals to pledge commitment to global environmental sustainability.
  • The Stella McCartney Marketplace: An experience spotlighting product displays and information on the LVMH brand’s unwavering commitment to sustainability and conscious luxury movement.
  • One World One Humanity: A large-scale interactive entertainment performance using human-driven, larger-than-life characters to deliver a narrative inspired by COP28’s central message: “UNITE. ACT. DELIVER”, while celebrating our planetary connection through a unified lens.
  • The CNN x United Nations Foundation Exhibition: An educational immersive experience focusing on the climate crisis’s impact on gender inequality, displaying powerful film and imagery captured by Global South female photojournalists.
  • “Energy for Health” Activation (collaboration between the World Health Organization, Selco Foundation, and UNICEF): An immersive educational experience highlighting the importance of solar energy in delivering medical services to remote regions, showcased through compelling films and innovative technical solutions.

“Our investment across global geographies and the rapidly expanding UAE market, has endowed us with a specialized expertise, where innovative storytelling and technological mastery are not just aspirations but realities. Through projects like COP28, Expo 2020 Dubai, Emirates’ MIRA and others, our global team has immersed itself in the vibrant UAE ecosystem, where technology serves a cornerstone of society – reshaping our social fabric and global economy. We are not mere participants in this transformative era; we are leading the storytelling narratives, that elevate and define brands throughout the region and beyond, on the global stage. Through our commitments to impact driven marketing and audience engagement, we continue to deliver world class experiences, cultivating new strategic partnerships, and offering unparalleled value to our clients, partners, and stakeholders. Our mission is to weave a panoply of global communities, guided by the vision that creativity and technology are the lodestars of our collective future,” said Scott Cullather, President & CEO of [INVNT GROUP] and CEO of INVNT.ATOM.

The group has also grown its local partnerships and teams across various business units including INVNT™ the live brand storytelling agency, and INVNT.ATOM™, the digital innovation and Web3 agency based in Singapore. INVNT.ATOM recently launched BZAR™, the group’s patent-pending, self-funded, content-led immersive digital platform, built exclusively for brands and fans.

INVNT.ATOM – in partnership with AWS (Amazon Web Services) and other tech partners – powered the Dubai Airshow debut of Emirates Airlines’ immersive employee experience platform ‘MIRA’, which uses extended reality (iXR) to train new joiners and will revolutionize employee training. VR offers realistic simulations, providing hands-on experience without the physical constraints, enhancing how skills are taught and learned through greater consistency of message, increased engagement, and retention, while offering safe and scalable training environments redefining the future of employee learning.

“In today’s rapidly evolving global landscape, our focus across the group is squarely on engaging both global and local audiences through immersive brand storytelling. We’re not just expanding our reach in the UAE and world at large, we’re redefining frontiers of engagement by creating experiences that resonate universally while honoring local narratives and cultures; inspiring new dialogues, fostering connection, and pioneering alongside brands looking to reach new plateaus of audience engagement. We are committed to pushing the boundaries of what’s possible, challenging everything, and leveraging the power of next-generation creativity and technology to build bridges between diverse communities and creating a truly global impact,” said Kristina McCoobery, CEO of INVNT and COO of [INVNT GROUP].

At the Geneva International Motorshow, INVNT partnered with Audi to produce the Investors Gala and Dealer Event in the National Museum of Doha (Qatar), unveiling the future of automotive innovation, and showcasing the company’s 2024 advancement strategy in the UAE and beyond.

“We are committed to deepening our connections and partnerships with brands, organizations, and the local UAE community. Our team blends global vision with local insights and tactics, ensuring our initiatives resonate meaningfully in the region. This approach allows us to contribute positively to the region’s growth while embracing and learning from its technological ethos and rich cultural heritage,” said Farah Hindiyeh, Managing Director of INVNT Dubai. 

###

ABOUT [INVNT GROUP]
[INVNT GROUP] THE GLOBAL BRANDSTORY PROJECT™ is a growing portfolio of complementary disciplines designed to help forward-thinking organizations everywhere, impact the audiences that matter, anywhere, with offices in New York, London, Sydney, Singapore, Dubai, San Francisco, Mumbai , Stockholm, Detroit, and Washington D.C. Led by President and CEO, Scott Cullather, [INVNT GROUP]™ was established as a growing evolution of the live global brand storytelling agency INVNT™, with a vision to provide engaging, well-articulated, impactful brand stories across all platforms.

The GROUP consists of: modern brand strategy firm, Folk Hero™; creative-led culture consultancy, Meaning; production studio & creative agency, HEVĒ™; events for colleges and universities, INVNT Higher Ed; digital innovation division, INVNT.ATOM™; creative multimedia experience studio, Hypnogram™; ITP Live (Any Venue Video, Thunder Audio, In Sync), portfolio of full-service production for live entertainment; and the original live global brand storytelling agency, INVNT.

For more information visit www.invntgroup.com

Attachment

Jhonathan Mendez de Leon
[INVNT GROUP]
Jmendezdeleon@invnt.com

GlobeNewswire Distribution ID 9008009

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Dominica consolidates regulations, underscoring the Programme’s integrity

Roseau, Dec. 19, 2023 (GLOBE NEWSWIRE) — In a proactive move demonstrating Dominica’s commitment to the integrity of its Citizenship by Investment Programme, the country has implemented watertight regulations to reinforce the legal framework of the Programme and its Unit. The new regulations are the next step in Dominica’s due diligence vision.

The new regulations strengthen the position of the Citizenship Unit, with the added support and oversight by the Committee, led by the Government’s attorney general. These new regulations formally protect the Government of Dominica’s ongoing commitment to due diligence. By consolidating its regulations into a single set of regulations that encompasses all aspects of the citizenship by investment process.

Dominica’s international partnerships are more important than ever to maintain, given the nation’s integral role as a leading member of the Caribbean Community (CARICOM), the Commonwealth of Nations and the Organization of Eastern Caribbean States (OECS).

In a step indicating Dominica’s multilateralism and deep commitment to its international partners, the nation builds on cross-country collaboration by denying citizenship to applicants who were denied any visa or right to enter the EU, UK, USA, or Canada, and to any other country that Dominicans can travel visa-free to.

The new regulations also enshrine into law information sharing between the CBI Unit and the Joint Regional Communications Centre (JRCC).   This means that information sharing between CBI countries and other jurisdictions is, and will remain, paramount.

Therefore, Dominica continues to take a proactive approach in making sure international partners are kept apprised of the CBI process and advancing the due diligence protocols to ensure the country continues to meet international best practice. Dominica is ensuring all loopholes are closed and are strengthening every part of the Programme.

Dominica set the standard for CBI due diligence earlier this year as the first country to introduce mandatory interviews as part of the country’s CBI application process. These regulations continue the work of the nation’s CBI Unit to uphold the Programme’s reputation of transparency and accountability.

The Six Principles, agreed upon in the US-Caribbean roundtable, deepen the collaboration between the Caribbean and US in maintaining the highest standards for integrity in CBI programmes.

There are minor changes in the regulations which affect applicants, but the majority of the new regulations tighten the responsibilities and requirements of Authorised Agents and Licenced Promoters.

The CBIU has formalised its commitment to ensuring its Authorised Agents and Licenced Promoters uphold the highest standards with the promotional guidelines now enshrined in the regulations.

Dominica made changes in 2022 to applicable dependants which are reflected in this consolidated version of the CBI Regulations. One additional change that affects applicants concerns the degree of dependency of certain eligible dependants. Under the new changes, adult children must now be fully supported to be eligible dependants.

The tightening of regulations also affects applicants who change their names. Under the new rules, Dominica has the power to deprive citizenship if applicants seek to change their name within five years of receiving their certificate of naturalisation.

Authorised Agents (AAs) have the most to pay attention to with the new rules. The new regulations shore up Dominica’s CBI Programme through adding enhanced requirements and responsibilities for AAs.

AAs must be a citizen of Dominica and have their offices registered in Dominica with at least three staff. AAs must also undergo independent due diligence checks, indicating Dominica’s commitment to integrity at every point in its programme.

The new regulations also increase the fees for AAs to register and renew their licences, reflecting AAs responsibility and enhanced requirements.

Licenced Promoters are also affected by the new regulations, consistent with the nation’s focus on watertight regulations to apply to each and every person involved in the Programme. The new regulations formalise the requirements for applying to become a Licenced Promoter and increase the application and renewal fees for Licenced Promoters. The new regulations also make sure that Licenced Promoters are acting in accordance with the promotional guidelines.

The promotional guidelines themselves, previously in the circular, have been incorporated into the regulations as a schedule.  The new regulations are explicit in the do’s and don’ts of the promotion of the Programme globally.

Dominica’s CBI Programme retains its commitment to its robust due diligence procedures and stringent regulations. The Government’s commitment to continuous improvement demonstrates its proactive approach. The enshrinement of the Six Principles into these regulations indicate Dominica’s push to adapt to evolving global standards and reinforce the Programme’s credibility.

Consistent with the nation’s ongoing efforts to uphold stringent due diligence practices, the Government of Dominica remains steadfast in its commitment to ensuring the highest standards of integrity and transparency in its CBI Programme.  Recognising the importance of closing all loopholes, Dominica has taken decisive action to reinforce its regulations and strengthen the Programme’s framework by addressing any vulnerabilities head-on. Dominica aims to dispel any doubts and maintain its reputation as a responsible and trustworthy destination for investment. Dominica is proud of its role in the global community and its rewarding international partnerships.

Investors can be confident in the transparency and accountability of the Programme, knowing that their contributions will be utilised to drive sustainable development initiatives that benefit both the country and its citizens.

Indeed, the CBI Programme has contributed to Dominica’s remarkable vision to be the world’s first climate-resilient nation. CBI has assisted in realising this vision, through funding a geothermal power plant and building climate-resilient infrastructure.

Thanks to CBI, the nation can build 5,000 climate-resilient homes, and deepen its investments in green energy.

CBI has also enhanced the country’s ecotourism offering, funding an international airport, new bridges, and new roads. This infrastructure allows ecotourists to make full use of the island’s multiple natural parks, four and five-star ecohotels, and protected marine parks.

These reinforced regulations not only strengthen the integrity of the CBI Programme but also reinforce Dominica’s position as a leading destination for investment.

The Government of Dominica’s unwavering dedication to enhancing the CBI Programme demonstrates its commitment to upholding rigorous compliance standards, even in the face of scrutiny.  

Secretary of Dominica Citizenship by Investment
Commonwealth of Dominica
001 (767) 266 3919
info@cbiu.gov.dm

GlobeNewswire Distribution ID 9007108

Posted on

Dominica consolidates regulations, underscoring the Programme’s integrity

Roseau, Dec. 19, 2023 (GLOBE NEWSWIRE) — In a proactive move demonstrating Dominica’s commitment to the integrity of its Citizenship by Investment Programme, the country has implemented watertight regulations to reinforce the legal framework of the Programme and its Unit. The new regulations are the next step in Dominica’s due diligence vision.

The new regulations strengthen the position of the Citizenship Unit, with the added support and oversight by the Committee, led by the Government’s attorney general. These new regulations formally protect the Government of Dominica’s ongoing commitment to due diligence. By consolidating its regulations into a single set of regulations that encompasses all aspects of the citizenship by investment process.

Dominica’s international partnerships are more important than ever to maintain, given the nation’s integral role as a leading member of the Caribbean Community (CARICOM), the Commonwealth of Nations and the Organization of Eastern Caribbean States (OECS).

In a step indicating Dominica’s multilateralism and deep commitment to its international partners, the nation builds on cross-country collaboration by denying citizenship to applicants who were denied any visa or right to enter the EU, UK, USA, or Canada, and to any other country that Dominicans can travel visa-free to.

The new regulations also enshrine into law information sharing between the CBI Unit and the Joint Regional Communications Centre (JRCC).   This means that information sharing between CBI countries and other jurisdictions is, and will remain, paramount.

Therefore, Dominica continues to take a proactive approach in making sure international partners are kept apprised of the CBI process and advancing the due diligence protocols to ensure the country continues to meet international best practice. Dominica is ensuring all loopholes are closed and are strengthening every part of the Programme.

Dominica set the standard for CBI due diligence earlier this year as the first country to introduce mandatory interviews as part of the country’s CBI application process. These regulations continue the work of the nation’s CBI Unit to uphold the Programme’s reputation of transparency and accountability.

The Six Principles, agreed upon in the US-Caribbean roundtable, deepen the collaboration between the Caribbean and US in maintaining the highest standards for integrity in CBI programmes.

There are minor changes in the regulations which affect applicants, but the majority of the new regulations tighten the responsibilities and requirements of Authorised Agents and Licenced Promoters.

The CBIU has formalised its commitment to ensuring its Authorised Agents and Licenced Promoters uphold the highest standards with the promotional guidelines now enshrined in the regulations.

Dominica made changes in 2022 to applicable dependants which are reflected in this consolidated version of the CBI Regulations. One additional change that affects applicants concerns the degree of dependency of certain eligible dependants. Under the new changes, adult children must now be fully supported to be eligible dependants.

The tightening of regulations also affects applicants who change their names. Under the new rules, Dominica has the power to deprive citizenship if applicants seek to change their name within five years of receiving their certificate of naturalisation.

Authorised Agents (AAs) have the most to pay attention to with the new rules. The new regulations shore up Dominica’s CBI Programme through adding enhanced requirements and responsibilities for AAs.

AAs must be a citizen of Dominica and have their offices registered in Dominica with at least three staff. AAs must also undergo independent due diligence checks, indicating Dominica’s commitment to integrity at every point in its programme.

The new regulations also increase the fees for AAs to register and renew their licences, reflecting AAs responsibility and enhanced requirements.

Licenced Promoters are also affected by the new regulations, consistent with the nation’s focus on watertight regulations to apply to each and every person involved in the Programme. The new regulations formalise the requirements for applying to become a Licenced Promoter and increase the application and renewal fees for Licenced Promoters. The new regulations also make sure that Licenced Promoters are acting in accordance with the promotional guidelines.

The promotional guidelines themselves, previously in the circular, have been incorporated into the regulations as a schedule.  The new regulations are explicit in the do’s and don’ts of the promotion of the Programme globally.

Dominica’s CBI Programme retains its commitment to its robust due diligence procedures and stringent regulations. The Government’s commitment to continuous improvement demonstrates its proactive approach. The enshrinement of the Six Principles into these regulations indicate Dominica’s push to adapt to evolving global standards and reinforce the Programme’s credibility.

Consistent with the nation’s ongoing efforts to uphold stringent due diligence practices, the Government of Dominica remains steadfast in its commitment to ensuring the highest standards of integrity and transparency in its CBI Programme.  Recognising the importance of closing all loopholes, Dominica has taken decisive action to reinforce its regulations and strengthen the Programme’s framework by addressing any vulnerabilities head-on. Dominica aims to dispel any doubts and maintain its reputation as a responsible and trustworthy destination for investment. Dominica is proud of its role in the global community and its rewarding international partnerships.

Investors can be confident in the transparency and accountability of the Programme, knowing that their contributions will be utilised to drive sustainable development initiatives that benefit both the country and its citizens.

Indeed, the CBI Programme has contributed to Dominica’s remarkable vision to be the world’s first climate-resilient nation. CBI has assisted in realising this vision, through funding a geothermal power plant and building climate-resilient infrastructure.

Thanks to CBI, the nation can build 5,000 climate-resilient homes, and deepen its investments in green energy.

CBI has also enhanced the country’s ecotourism offering, funding an international airport, new bridges, and new roads. This infrastructure allows ecotourists to make full use of the island’s multiple natural parks, four and five-star ecohotels, and protected marine parks.

These reinforced regulations not only strengthen the integrity of the CBI Programme but also reinforce Dominica’s position as a leading destination for investment.

The Government of Dominica’s unwavering dedication to enhancing the CBI Programme demonstrates its commitment to upholding rigorous compliance standards, even in the face of scrutiny.  

Secretary of Dominica Citizenship by Investment
Commonwealth of Dominica
001 (767) 266 3919
info@cbiu.gov.dm

GlobeNewswire Distribution ID 9007108

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Dominica consolidates regulations, underscoring the Programme’s integrity

Roseau, Dec. 19, 2023 (GLOBE NEWSWIRE) — In a proactive move demonstrating Dominica’s commitment to the integrity of its Citizenship by Investment Programme, the country has implemented watertight regulations to reinforce the legal framework of the Programme and its Unit. The new regulations are the next step in Dominica’s due diligence vision.

The new regulations strengthen the position of the Citizenship Unit, with the added support and oversight by the Committee, led by the Government’s attorney general. These new regulations formally protect the Government of Dominica’s ongoing commitment to due diligence. By consolidating its regulations into a single set of regulations that encompasses all aspects of the citizenship by investment process.

Dominica’s international partnerships are more important than ever to maintain, given the nation’s integral role as a leading member of the Caribbean Community (CARICOM), the Commonwealth of Nations and the Organization of Eastern Caribbean States (OECS).

In a step indicating Dominica’s multilateralism and deep commitment to its international partners, the nation builds on cross-country collaboration by denying citizenship to applicants who were denied any visa or right to enter the EU, UK, USA, or Canada, and to any other country that Dominicans can travel visa-free to.

The new regulations also enshrine into law information sharing between the CBI Unit and the Joint Regional Communications Centre (JRCC).   This means that information sharing between CBI countries and other jurisdictions is, and will remain, paramount.

Therefore, Dominica continues to take a proactive approach in making sure international partners are kept apprised of the CBI process and advancing the due diligence protocols to ensure the country continues to meet international best practice. Dominica is ensuring all loopholes are closed and are strengthening every part of the Programme.

Dominica set the standard for CBI due diligence earlier this year as the first country to introduce mandatory interviews as part of the country’s CBI application process. These regulations continue the work of the nation’s CBI Unit to uphold the Programme’s reputation of transparency and accountability.

The Six Principles, agreed upon in the US-Caribbean roundtable, deepen the collaboration between the Caribbean and US in maintaining the highest standards for integrity in CBI programmes.

There are minor changes in the regulations which affect applicants, but the majority of the new regulations tighten the responsibilities and requirements of Authorised Agents and Licenced Promoters.

The CBIU has formalised its commitment to ensuring its Authorised Agents and Licenced Promoters uphold the highest standards with the promotional guidelines now enshrined in the regulations.

Dominica made changes in 2022 to applicable dependants which are reflected in this consolidated version of the CBI Regulations. One additional change that affects applicants concerns the degree of dependency of certain eligible dependants. Under the new changes, adult children must now be fully supported to be eligible dependants.

The tightening of regulations also affects applicants who change their names. Under the new rules, Dominica has the power to deprive citizenship if applicants seek to change their name within five years of receiving their certificate of naturalisation.

Authorised Agents (AAs) have the most to pay attention to with the new rules. The new regulations shore up Dominica’s CBI Programme through adding enhanced requirements and responsibilities for AAs.

AAs must be a citizen of Dominica and have their offices registered in Dominica with at least three staff. AAs must also undergo independent due diligence checks, indicating Dominica’s commitment to integrity at every point in its programme.

The new regulations also increase the fees for AAs to register and renew their licences, reflecting AAs responsibility and enhanced requirements.

Licenced Promoters are also affected by the new regulations, consistent with the nation’s focus on watertight regulations to apply to each and every person involved in the Programme. The new regulations formalise the requirements for applying to become a Licenced Promoter and increase the application and renewal fees for Licenced Promoters. The new regulations also make sure that Licenced Promoters are acting in accordance with the promotional guidelines.

The promotional guidelines themselves, previously in the circular, have been incorporated into the regulations as a schedule.  The new regulations are explicit in the do’s and don’ts of the promotion of the Programme globally.

Dominica’s CBI Programme retains its commitment to its robust due diligence procedures and stringent regulations. The Government’s commitment to continuous improvement demonstrates its proactive approach. The enshrinement of the Six Principles into these regulations indicate Dominica’s push to adapt to evolving global standards and reinforce the Programme’s credibility.

Consistent with the nation’s ongoing efforts to uphold stringent due diligence practices, the Government of Dominica remains steadfast in its commitment to ensuring the highest standards of integrity and transparency in its CBI Programme.  Recognising the importance of closing all loopholes, Dominica has taken decisive action to reinforce its regulations and strengthen the Programme’s framework by addressing any vulnerabilities head-on. Dominica aims to dispel any doubts and maintain its reputation as a responsible and trustworthy destination for investment. Dominica is proud of its role in the global community and its rewarding international partnerships.

Investors can be confident in the transparency and accountability of the Programme, knowing that their contributions will be utilised to drive sustainable development initiatives that benefit both the country and its citizens.

Indeed, the CBI Programme has contributed to Dominica’s remarkable vision to be the world’s first climate-resilient nation. CBI has assisted in realising this vision, through funding a geothermal power plant and building climate-resilient infrastructure.

Thanks to CBI, the nation can build 5,000 climate-resilient homes, and deepen its investments in green energy.

CBI has also enhanced the country’s ecotourism offering, funding an international airport, new bridges, and new roads. This infrastructure allows ecotourists to make full use of the island’s multiple natural parks, four and five-star ecohotels, and protected marine parks.

These reinforced regulations not only strengthen the integrity of the CBI Programme but also reinforce Dominica’s position as a leading destination for investment.

The Government of Dominica’s unwavering dedication to enhancing the CBI Programme demonstrates its commitment to upholding rigorous compliance standards, even in the face of scrutiny.  

Secretary of Dominica Citizenship by Investment
Commonwealth of Dominica
001 (767) 266 3919
info@cbiu.gov.dm

GlobeNewswire Distribution ID 9007108