In a recent move by the Grenada government, Yemeni nationals have been added to the list of countries whose citizens are barred from applying for Grenadian citizenship through the Citizenship by Investment Programme (CBI).
This program is designed to attract foreign investment by offering citizenship in return for significant contributions to the nation’s socio-economic development.
A growing list of restrictions
Yemen joins a list of countries including Iran, North Korea, Russia, Belarus, Sudan, and Afghanistan, whose nationals face restrictions under Grenada’s CBI program.
This decision aligns with Grenada’s efforts to regulate the inflow of foreign nationals through its investment scheme, highlighting a cautious approach towards maintaining national security and economic integrity.
Exceptions to the rule
Despite these restrictions, there are specific exceptions that allow individuals from the affected countries, including Yemen, Iran, Sudan, and Afghanistan, an opportunity to apply for Grenadian citizenship.
Eligibility for these exceptions includes individuals who have spent their entire lives in territories not sanctioned by Grenada or those who migrated before reaching the age of maturity and have lived for more than 10 years in non-sanctioned territories.
This provision offers a pathway for those who have long-term ties to regions considered safe by Grenadian standards.
A decade of citizenship by investment
Grenada’s CBI program has been operational for a decade, proving to be a lucrative source of revenue for the island nation.
Over 10,000 individuals have acquired Grenadian citizenship through this initiative, contributing millions of dollars to the local economy.
These funds have been instrumental in supporting capital projects and managing national debts.
The government’s projections indicate earnings of EC$280.6 million from the program this year, following last year’s substantial EC$324 million intake.
