by Linda Straker
- From January to June 2023, Cabinet approved 2,011 new citizens
- EC$157 million generated from approved applicants
- 90% of approved applicants are of Russian nationality
Richard Duncan, Chairman of the Citizenship by Investment Committee (CBI), has disclosed that most of the people who gained Grenada’s citizenship through the Citizenship by Investment programme for the first 6 months of 2023 were Russian nationals.
From January to June 2023, the Cabinet of Grenada approved 2011 people to become citizens of the country according to the latest public data released by the Ministry of Finance in August. “The overwhelming majority, maybe 90% of the applicants approved so far are in the area of Russian nationality,” Duncan said during an interview in the weekly The Bubb Report, a US production.
Grenada’s CBI programme was officially launched in 2014, following the 2013 Grenada Citizenship by Investment Act. The CBI Unit has never disclosed a breakdown of applicants receiving or being denied approval, but based on published data from the Ministry of Finance, over 8,000 people have gained Grenada citizenship through the programme.
The programme has earned millions in revenue for Grenada since its launch. The first 6 months of 2023 were described by Duncan as a windfall, with revenue of EC$157 million from approved applicants.
In March 2023, Oleg Frier, Grenada’s former Ambassador to the Russian Federation, had his licence revoked among the list of international marketing agents allowed to conduct business on behalf of the country’s CBI Programme.
“The Grenada Citizenship by Investment Committee advises that Mr Oleg Firer is not a licenced Marketing Agent, nor a registered sub-agent of the Grenada Citizenship by Investment Programme,” said a notice on the updated website of the CBI programme.
“He is therefore not authorised to market, promote or disseminate information on the programme, nor act on behalf of, or engage with current or potential applicants, or their authorised representatives,” said the 28 March notice. Currently, there are 59 international marketing agents for the CBI programme.
As of 1 April 2023, Grenada stopped accepting applications from Russia and Belarus, joining North Korea, Iran, and Palestine as states around the world that are banned from participating in Grenada’s CBI programme.
Grenada agreed to stop accepting those applications as part of its decision to comply with a request from the USA following the 25 February 2023 historic US-Caribbean Roundtable on Citizenship by Investment was held in Saint Christopher (St Kitts) and Nevis.
At that meeting, the participating countries approved 6 principles for going forward which include suspending applications from Russia and Belarus to the CBI programme, as well as not to process applications from persons whose applications have been denied in another CBI jurisdiction, by proactively sharing information on denials.
Why Russian can not get 2nd passport? Why they can not escape from participation in war. Don’t they have right not to be killed and not killing on that war?You (who forbid take Grenada passport) should know in Russia forced mobilization to war…and Russian are trying to escape from that….
Like I said before,where are all these new investments within our little island of Grenada?
The real and more logical reason for applying for such is a back into places like America and the UK who have reasons to block or stop a selected few from entering.
Now that Grenada is selling their passport disguise as CBI the above countries are not happy so they are putting more conditions on citizens from those island trying to enter.
CBI isn’t a disguise and is a program offered by many countries around the world. A simple Google search and you will find out the investments from this program in Grenada.
Is this a wise decision to the country or nation, the politicians of this situation has been very much in war with themselves, this not a wise decision, they don’t understand what politics is all about, and who is coming to the country,
Sad ,just me being a bit more wonderful and being able to make sure that you have a great portion and your accomplishments,
Nothing comes easy because the UK and America won’t be happy knowing that some citizens from countries that they are trying their best to vet before entering their country are free to enter now by using these CBI passports.
They big loser will be Grenada in the long term as the money will run out but Grenadians will want to travel to those two countries and they will make it harder for us to enter.
I have not seen any new businesses that been started with the CBI scheme so we all know the reason behind it is not for business.
Soon Grenada will get blacklisted like Dominica and no more visa free travel to the UK. You all selling passport to a terrorist country
Soon everyone will need an ETA to enter the UK. Not just Grenadians. And technically all countries are terrorist countries if you look at what they have done to their own people and other countries.
This large number of Russians is very concerning…… this will lead to many developed nations placing VISA restrictions on citizens… Why is no one seeing this???? we made so much noise when the last administration was doing it what is happening now, like everyone is quiet
Grenada government you’ve got all this money now so free healthcare to your citizens proper pensions to your citizens look after your disabled pensioners and poor people now you’ve got all this money coming from the rich Russians now you can put back the money to make better healthcare free for all proper pensions proper everything for your senior citizens and people over 60 etc look after your citizens and help the poor citizens of your country they deserve better people who houses were down and demolished
In 2004 some people are still waiting and still living in delapitated homes
Help them