Grenada yields EC$112 million from Citizenship By Investment programme this year
/ Our Today
administrator
Some 1,058 foreigners have received citizenship through the Citizenship by Investment programme for January to September 2022, yielding EC$112 million to the Government of Grenada.
This is up from the EC$80 million made in 2021. At the same time, applications for eight foreigners were rejected by the Cabinet of Grenada.
Prime Minister Dickon Mitchell reports that, “the National Transformation Fund moved from EC$47.2 million for January to September 2021 to EC$49.5 million for the same period in 2022″.
He explained that this amount of money represents some 20 per cent of the national capital budget.
Most applications to Grenada come from China, Russia, India, South Africa, and Nigeria. There are also several applications from persons in the United States and Europe.
MORE THAN 7,000 PEOPLE HAVE RECEIVED CITIZENSHIP THROUGH INITIATIVE
The programme began in August 2014, and to date, more than 7,000 people have received citizenship through the initiative which is the major non-tax revenue earner for the Government. Once citizenship is approved that person earns the right to a Grenada passport.
The latest information on the CBI was detailed at conference on the programme, held at the Radisson Conference Centre. The conference was a collaborative initiative undertaken by Grenada Co-operative Bank Limited and the Grenada Citizenship by Investment Unit.
It was attended by industry stakeholders, members of the Government and guest speakers, who shared their knowledge, expertise, and experiences to strengthen and sustain Grenada’s Citizenship by Investment Programme.
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