by Linda Straker
- Most CBI new citizens from Nigeria and China
- Grenada approved less than 1,200 new citizens in 2025
- Number of active CBI projects stands at 8
Citizens of the United States of America were in the first 5 positions of people who gained Grenada citizenship in the last quarter of 2025, according to data released by the Investment Migration Agency (IMA).
The data shows that 2025 was the first time since 2021 that Grenada approved less than 1,200 new citizens through the citizenship by investment programme (CBI). In 2024, there were 5,443; in 2023, there were 4,794, and in 2022, there were 1,396.
In his presentation of the 2026 budget statement, Finance Minister Dennis Cornwall said that in 2025, the IMA delivered another strong and credible performance, reaffirming the CBI Programme as a major driver of foreign investment and fiscal stability.
Cornwall said that by the end of the third quarter, the agency had already achieved its budgeted revenue with a surplus and is on track to exceed the annual target by as much as 10%. Two new developments — the One True Blue Beach Hotel and Residence, and the La Sagesse Collections — were approved, bringing the number of active CBI projects to 8 and further strengthening investor confidence.
“Mr Speaker, the agency advanced the Enhanced Local Developer Policy, opening new pathways for Grenadian developers and ensuring more of the programme’s economic benefits remain at home. It also enhanced due diligence, improved operational efficiency, and aligned its processes with emerging global standards,” he told the House.
In 2026, the IMA will accelerate digital transformation, deepen diaspora engagement, expand into new source markets and strengthen customer service. The CBI Committee will strengthen its governance and oversight role. This will include the repeal and replacement of the existing legislation, Cornwall told the House.
While citizens of the USA rank 4th, the top positions for CBI citizenship are held by citizens of Nigeria and China, with Iraq in 3rd and Pakistan in 5th.
IMA states that applications for projects to be approved for CBI must have planning consent but the List of Approved Projects includes projects that do not have consent (eg Coral Cove Hotel). https://imagrenada.gd/citizenship-by-investment/#approved-projects
Is this what the Finance Minister means by “further strengthening investor confidence” in the CBI programme?
When a hotel development that a passport applicant has invested in doesn’t ever get built, who will he sue? The IMA as a statutory authority – effectively the government?