Grenada Receives Over US$7 Million Through CBI Program

From January to June 2020, more than US$7 million was donated to the treasury of Grenada through the Citizenship by Investment Program. That is, on average, the country received more than US$1.2 million per month. However, this amount is less compared to the same period in 2018 and 2019.

Even though the country has been closed since March 2020 (due to the pandemic), the government has been accepting applications online and was poised to slow down in applications for citizenship by investment.

“In the first quarter of 2020, applications were 25% above 2019 figures, largely spurred by the major tourism projects in St David and St Patrick.

The management team of Grenada’s CBI programme which received a little more than 100 applications for the first quarter of 2020, agreed and approved for new applications to the programme to be submitted online using a specially designed secure website that will reduce the use of paper documents", writes nowgrenada.

In the first half of 2020, Grenada managed to issue citizenship to 509 foreign investors.

“Grenada’s CBI programme is not on hold because of the Covid pandemic. We are working remotely; we are making use of technology on a new platform that allows us to receive, process and make a decision in collaboration with all local and international agents as well with the relevant due diligence agencies,” Percival Clouden said in an interview in April.