by Linda Straker
- Since CBI programme commenced in 2014, revenue has surpassed the EC$1 billion mark
- Over 20,000 people from various nations, including the USA, Saudi Arabia, South Africa, India, Russia and Turkey have gained citizenship
- Enhanced compliance measures for applicants begins 10 November
The Investment Migration Agency (IMA) — the rebranded name for the Citizenship by Investment Unit (CBI) in the Ministry of Home Affairs, has announced it is taking enhanced compliance measures for all applicants to the programme which allowed foreign nationals to become citizens of Grenada by investing in a real estate project or paying the prescribed amount to the National Transformation Fund (NTF).
“The Investment Migration Agency (IMA) wishes to advise all stakeholders that, effective November 10, 2025, as part of its ongoing commitment to maintaining the integrity of Grenada’s Citizenship by Investment (CBI) Programme, enhanced compliance measures are being introduced for all applicants,” said a circular on the IMA website.
The enhanced compliance measures are set to commence on 10 November 2025 and are expected to follow steps showing investment verification procedures that include alignment with international anti-money laundering standards and best practices, and bank credit advice showing that investment funds were deposited directly by the applicant.
Explaining Verification of Investment Funds, the release dated 28 October said, “In alignment with international Anti-Money Laundering (AML) standards and best practices: 1.1 Attestation Form: All applicants investing in approved CBI projects must submit a completed Applicants Attestation Form, confirming that the investment funds are derived from the applicant’s own verifiable resources or, if applicable, the sponsor’s resources, as outlined in the Sponsor’s Application Form.” Further, “These forms must be signed and notarised by a notary public and submitted to the Agency through the applicant’s Local Agent as part of the application package.”
Pertaining to Bank Credit Advice, the release said, “Applicants must provide Bank Credit Advice demonstrating that the investment funds were deposited directly by the applicant or from the source indicated on their application form (Form 5) into the developer’s account and which will be ultimately transferred into the Escrow Account or Government’s approved account.”
For Alignment with AML Standards, the circular said that these measures are in line with international Anti-Money Laundering (AML) procedures and best practices. “By requiring applicants to attest that their investment funds are derived from verifiable personal resources and providing proof of direct transfers, the IMA ensures that all investments are legitimate, traceable, and transparent, reinforcing the integrity of Grenada’s Citizenship by Investment Programme.”
The IMA said these measures reinforce its commitment to transparency, legitimacy, and traceability of qualifying investments, ensuring that all contributions to the programme are verifiably sourced. “The IMA remains steadfast in safeguarding the credibility of Grenada’s Citizenship by Investment Programme through rigorous compliance, transparency, and fairness. These updates reflect our ongoing efforts to protect the interests of genuine applicants and uphold Grenada’s international reputation,” said the circular.
Since the CBI programme commenced in 2014, there have been several legal regulatory changes to the procedures. Revenue from the programme has surpassed the EC$1 billion mark during that period, and more than 20,000 people from various nations, including the USA, Saudi Arabia, South Africa, India, Russia and Turkey, have gained citizenship.
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This program must be cancelled with immediate effect…..all citizenship granted revoked.
The bald man adorned with a diamond stud earring, who previously managed a bank notorious for its inadequate service, exorbitant fees, and exploitation of our citizens, is the focal point of the CBI initiative. What can be expected? Every two to three months, the government announces “enhanced” measures.
While I may not possess exceptional intelligence, I have a strong suspicion that those in power are fully aware of the many loopholes. When these issues are brought to light, just like a worm exposed on a hot surface, they pretend that all concerns are being addressed. The CBI functions as a slush fund for attorneys and politicians, and it must be abolished.
You’re selling the country, land and culture. Grenada has 110,000 people and you have given 20,000 rich foreigners an a 1: 5.5 stake in all things Grenadian. The land will be unaffordable to ordinary Grenadians and the cultural will change. Think again about this citizenship by investment.