ST. GEORGE’S, Grenada, CMC – The Grenada government has given the green light to a company with a mailing address in Moscow to become the island’s latest international Citizenship by Investment (CBI) marketing agent.
“Notice is at this moment given that under Section 13 of the Grenada Citizenship by Investment Act, 2013, Global Citi-Zen LLC., 42 Frunzenshkaya Naberezhnaya, Apt. 27, Moscow, Russia, has been granted the license of a Marketing Agent, and is therefore authorized to conduct business in the State of Grenada, under the terms and conditions specified in the said Grenada Citizenship by Investment Act, 2013,” according to a notice published in the March 3, 2023 edition of the official Government Gazette.
According to a statement on the company’s website, “GLOBAL CITI-ZEN LLC is a worldwide service in Citizenship and Residence by Investments programs and Real Estate Investment, providing its services in more than 70 countries around the globe.
“Our mission is to open the world for our customers and allow them to independently choose a country for life and work, saving the capital. Global Citi-Zen is more than a brand name — it’s a new lifestyle,” it added.
Grenada is among a handful of Caribbean countries with a CBI program that provides citizenship to foreign investors in return for making a substantial investment in the island’s socio-economic development.
Following Russia’s invasion of Ukraine in February last year, Grenada became the fourth Caribbean CBI jurisdiction to suspend Russian and Belarusian applicants from applying to the country’s citizenship by investment program.
According to the Gazette, the license granted to GLOBAL CITI-ZEN LLC is dated February 20, 2023.
Under the CBI legislation, “a person or body who– (a) wishes to promote, market or disseminate information locally or overseas; and (b) intends to identify suitable applicants for citizenship by investment or permanent residence by investment for submission through a Local Agent to the Committee regarding any aspect of an investment under sections 10 to 11, shall make an application to the Committee using the prescribed forms, for a marketing license”.
There are dozens of international marketing agents listed on the Grenada CBI website.
Grenada earned more than EC$120 million (one EC dollar=US$0.37 cents) under its CBI program last year, approving a total of 1486 applications for citizenship.
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