Due Diligence in Citizenship by Investment Programs: FATF Standards and Compliance
Due diligence is a critical process in citizenship by investment programs, designed to prevent money laundering, tax evasion, and terrorism financing. This comprehensive background check assesses an investor's financial, legal, tax, and reputational history. The Financial Action Task Force (FATF) and the EU Anti-Money Laundering Directive set international standards for these procedures. Recent updates to FATF's guidance on beneficial ownership require countries to maintain detailed information about the true owners of trusts and similar structures. This affects investors with complex corporate or trust arrangements, ensuring transparency and compliance with global financial regulations. 
