by Linda Straker
- 4,342 approved citizens is the largest number during any 15-month period since programme resumed in 2014
- Fiscal report shows Government earned EC$239.5 million as of September
- As of January 2023 earnings from CBI are classified as non-tax revenue
Between January 2017 to September 2023, Grenada gained 11,814 new citizens through the Citizenship by Investment (CBI) programme with 4,342 or 37% of that number approved by the Dickon Mitchell cabinet during the 15-month period of July 2022 to September 2023.
The previous Dr Keith Mitchell cabinet approved 7,472 new citizens between January 2017 and June 2022. The cabinet of Grenada makes the final decision on approval or rejection of citizenship applications.
An analysis of public data from the Ministry of Finance revealed that the 4,342 approved citizens is the largest number during any 15-month period since the programme resumed in 2014. The Government website did not provide proper data for the first 2 years of the programme.
The review showed that Government did receive money from the programme in the first 2 years but there are no clear indicators of the number of new citizens approved. “However, the data will show that the Government did not earn as much as EC$10 million, so it’s clear that the programme was struggling in its early data,” said one local agent.
According to the 2023 Estimates of Revenue and Expenditure, Government’s targeted revenue from the CBI programme for January to December 2023 is EC$240,461,920 but the fiscal report shows Government earned EC$239.5 million as of September.
“This means that the Government will surpass the targeted amount by the end of December 2023,” said the local agent who does not wish to be identified. The previous New National Party had revenue from the CBI classified as grants, but as of January 2023, earnings from the CBI are classified as non-tax revenue.
| YEAR | PERIOD | APPROVED CITIZENS |
| 2022 | July to September | 286 |
| October to December | 428 | |
| 2023 | January to March | 980 |
| April to June | 1,536 | |
| July to September | 1,112 |
In a recent report, the European Commission expressed concerns about the programme which operated in Grenada, St Lucia, St Kitts, Dominica and Antigua. One of the concerns was allowing successful applicants to change their names.
“All 5 countries allow successful applicants the possibility to change identity after having obtained citizenship by investment. In Antigua and Barbuda and Dominica, it is allowed as of 5 years after obtaining citizenship; in Grenada after one year; in St Kitts and Nevis, it is allowed upon obtaining citizenship. In some cases, multiple name changes are also allowed (according to the available information, only St Kitts and Nevis limits it to one change),” said the report which was published in October 2023.
“Overall, the short processing times, low fees, high number of applications and low rejection rates, as well as certain aspects of the security screening procedures are elements which suggest that the operation of such schemes could pose certain risks for the security of EU Member States. The fact that successful applicants are then allowed to change their identity once the new nationality is obtained raises further potential security risks,” the report said.
Extract from the article:
“…Government’s targeted revenue from the CBI programme…”.
Targeted revenue? This implies a ferocious campaign to generate sales as if dealing in door to door sales of vacuum cleaners! Plus the potential abuse by allowing successful applicants to change their names.
It means all arguments against the CBI program are thrown out the window.
No surprise Grenadians must apply for visas now to travel to traditional northern destinations. The government has no right to sell our patrimony.
George A Soltysik
I thought during the election this government was so against the CBI program