ST. GEORGE’S, Grenada, CMC – Grenada has approved 11,814 applications from January 2017 to September 2023, according to figures released by the Ministry of Finance.
It said that the Dickon Mitchell government, which came to office in June last year, approved 4 342 applications during the 15 months from July to September this year.
Under the CBI, foreign investors are granted citizenship in return for making a significant contribution to the socio-economic development of the island. The names of all CBI citizens are not published here following an amendment to the Citizenship by Investment Act.
According to the 2023 Estimates of Revenue and Expenditure, the government’s targeted revenue from the CBI program for the period January to December 2023 is EC$240,4 million (One EC dollar=US$0.37 cents) with the ministry figures showing that the government earned EC$239.5 million as at the end of September.
“This means that the government will surpass the targeted amount by the end of December 2023,” said a local CBI agent who did not wish to be identified.
In a recent report, the European Commission expressed concerns about the CBI program in Grenada, St Lucia, St Kitts, Dominica, and Antigua.
“All five countries allow successful applicants to change identity after obtaining citizenship by investment. In Antigua and Barbuda and Dominica, it is allowed as of five years after obtaining citizenship; in Grenada after one year; in St. Kitts- Nevis, it is allowed upon obtaining citizenship,” said the report, which was published last month.
and then 