by Linda Straker
- Previous NNP administration approved 391 in first quarter of 2022
- Total Government revenue just under EC$57 million
- 2023 Estimates and Revenue shows Government projecting EC$240,461,920 for 2023
The Cabinet of Grenada approved 578 new citizens under the Citizenship by Investment Programme (CBI) during the first quarter of 2023. During the same period in 2022, the cabinet of the previous New National Party (NNP) administration approved 391.
According to the latest data posted on the Ministry of Finance website, the total revenue to the Government from these new citizens was just under EC$57 million. In a recent interview, Prime Minister Dickon Mitchell said that programme beat the targeted projection for the first quarter.
“The CBI programme is doing quite well. It has for the first quarter of the year exceeded the budgetary projections quite considerably…Grenada had benefitted from having quite a backlog of applicants partly because Grenada was among the only islands that was …openly admitting processing Russian and Belarusian applicants,” he said.
During the interview, Mitchell did not provide financial figures as it related to the performance of the CBI, but a recent posting on the Ministry of Finance website gave a breakdown of the revenue earned and applications process during the period.
Grenada’s CBI programme commenced in August 2014, and since then, over 7,000 people from places like Russia, Belarus, India, China, Nigeria and South Africa have opted to have Grenada as their second citizenship.
As of 1 April 2023, Grenada suspended applications from Russia and Belarus to comply with a request from the US following the 25 February 2023 historic US-Caribbean Roundtable on Citizenship by Investment.
According to the Grenada CBI website, the starting fee for an applicant is US$150,000, and it will increase when other fees are added along the way. These fees include application, due diligence and processing fees.
A review of the 2023 Estimates and Revenue shows that the Government is projecting it will earn EC$240,461,920 for the year. Several capital projects of the Government are also set to be funded with revenue from the CBI programme.
Grenada for sale?????
Does the average Grenadian by birth or decent have a say of the sell out??
You all need prayers.
This is highly highly concerning. Is Grenada for sale ? Several thousands of people running around the world with our citizenship, that has no interest whatsoever and knows nothing about our nation. A passport is a national symbol of our country, who are these people ? We want answers? Can these people vote in national elections I mean think very carefully about that privilege fellow Grenadians I am very concerned about this.
I am not convinced CBI is the only option to boost our economy, frankly it only benefits a few. Look at our brother and sisters in near by Barbados and Trinidad this would not happen !! We must respect who we are.
Let’s Invest in IT sector in Grenada we are an English speaking country with close proximity to the US Canada even Europe .
Even in South Africa and India these countries where multiple languages are spoken North American and European call centres industries are booming there employing thousands of people .
Invest in offshore financial sector, attract global companies, banks and talented individuals from around the world. Immigration is fine and happens around the world but people need to meet specific merits like every other country in the world.
It makes me very sad how this country does not want to work with its own talented professionals both on Grenada, the diaspora and our brother and sisters in neighbouring countries.
I’m sorry but CBI is a horrendous scheme in my opinion, it benefits a few and not Grenadians these are the only people I care for in the situation.
The rate this country is being sold is truly concerning. This terrible scheme needs to be rethought and far more transparent.
If you want to sell our precious commodity ‘citizenship’ we need a new system. Grenadians by birth right and decent need to be heavily consulted.
You should make people buying our citizenship HAVE to reside in Grenada on the soil for the first year of their citizenship. They should be integrated into our society and way of life before wondering around the world as Grenadians. It should be a condition of CBI
Citizens of the most concerning nations of this world are top of the list for buying our citizenship and we are just happily selling.
If this program keeps moving the way it is, I for one fear one day we as a nation will pay the ultimate price !! Grenada is Not for sale
This terrible. It has done nothing to improve the lives of Grenadians. It is raising the cost of living and robbing the people of their birthright to there land. Grenada is no vetting applicant adequately and we inevitably will see restrictions on our passport.
We are seeing a two tier system emerging. And natives will come last and ppl are so silly they don’t see their vote is being diluted.
revenue first travel to Canada not important
nor to the US. Maybe CBI should fund our travels to interview in Barbados and Trinidad!
How many more passport need to be sold to afford a New Hospital and to provide better health care system for the Grenadian citizen
coming to a neighborhood near you!
We need a CBI Day. Not necessarily a public holiday but a day to meet and greet our fellow Grenadians. Over 7,000 people thus far. That can be an event.
Wait, I thought this government didn’t approve the CBI programme. I am lost here with all this approval… and then we are wondering why we are not on the Canada visa free countries