Grenada CBI unit challenges Government’s statement on program eligibility

In a recent parliamentary session focused on the 2024 national budget, Adrian Thomas, the leader of Government Business, asserted that the Grenada Citizenship by Investment Program (CBI) is open to individuals of all nationalities. 

However, the Grenada Citizenship by Investment Unit has contradicted this claim, stating that there has been no change in the program’s eligibility criteria.

The Citizenship by Investment Programme

The CBI initiative allows foreign nationals to obtain Grenadian citizenship in exchange for significant investments in the island nation’s socio-economic development.

During the parliamentary debate, Adrian Thomas declared, “The program is open for everybody whether you are Chinese, whether you are Russian whether you are African, the first thing this administration see is a human being, we don’t cut you to see what blood runs through your veins whether it is African blood, Chinese blood or Russian blood”. 

CBI Unit’s response

In response to Thomas’ statement, the Citizenship by Investment Unit issued a statement clarifying the program’s eligibility criteria. 

The statement, released on December 14, 2023, highlighted that Senator Adrian Thomas had admitted to providing incorrect information regarding the acceptance of CBI applicants from all nationalities during the parliamentary session.

Reports are that Thomas did not offer an apology or clarification to fellow legislators in the Upper House regarding the inaccuracies in his initial statements. 

Instead, he simply aimed to ensure that the correct information was recorded in the parliamentary Hansard.

Updated eligibility criteria

In his correction, Thomas affirmed that applications from Russia and Belarus had ceased to be accepted as of March 31, 2023. 

Additionally, he noted that the longstanding bans on North Korea and Iran remained fully in effect, further limiting the eligibility criteria.

Grenada is the sole country among the sub-regional Organisation of Eastern Caribbean States (OECS) with an active Citizenship by Investment Programme.

Ceasing applications

In February, following discussions at the US-Caribbean Roundtable on Citizenship by Investment in St. Kitts-Nevis, Grenada agreed to halt the acceptance of applications.

Commitment to CBI principles

Despite the recent developments, Grenada reaffirmed its commitment to the six CBI Principles established between the United States Treasury and the five governments of the Eastern Caribbean Investment Migration programs on February 25, 2023. 

The Citizenship by Investment Unit emphasized its unwavering dedication to these principles and the ongoing efforts to integrate them into its operations seamlessly.