The Citizenship by Investment Unit of Grenada has issued a new circular whereby it announced the postponement of the interview requirement for CBI applicants.
Grenada has introduced personal interviews for all applicants under their Citizenship by Investment Program, becoming the third Caribbean country to do so (after Dominica & Saint Kitts). Such interviews are aimed at enhancing the citizenship programme due diligence process and were to enter into force from the 1st of September 2023.
Grenada's Citizenship by Investment Unit was motivated to make this announcement following discussions between the Caribbean nations and the United States representatives on how the countries should proceed in improving their respective CBI programs.
Grenada CBI Enhanced Due Diligence
As part of the enhanced due diligence process, the Grenada Citizenship by Investment (CBI) Unit has disclosed via an official circular that all applicants aged 17 and over will have to go through mandatory interviews before getting approved. Applicants of the Grenada CBI Program will be given the option to either attend these mandatory interviews in person or remotely.
Following this announcement, the Citizenship by Investment Unit of Grenada has issued a new circular whereby it announced the postponement of the interview requirement for CBI applicants. The postponement notice reads as follows:
“Marketing Agents, Local Agents and Developers of Approved Projects are hereby informed that the commencement of the Interview Process, which was scheduled to commence on September 1, 2023, has been postponed to a date to be announced. Please be advised also that the target interview fee for all applicants seventeen yeas and over will be USD 1,000”.
Grenada Citizenship Investment Options
Grenada offers Citizenship by Investment through two options which include either donation to the National Transformation Fund or an investment in a government approved real estate project.
Grenada CBI as a Secure Second Citizenship Option
Since the launch of the Grenada Citizenship by Investment Program in 2013, a robust security system has been maintained due to which standards for eligible applicants are set very high. The Grenada CBI Unit intends to continue following these measures by conducting a detailed background check of every single applicant and having its Financial Intelligence Unit thoroughly check their source of funds.
Grenada Takes Additional Measures to Protect Investors
While the mandatory interviews aim to protect the integrity of the program itself, the country is also working to protect the applicants from any risky investments. These measures include the hiring of a professional third-party supervisory agency to carry out regular investigations of recent construction of real estate investment and CBI projects in Grenada. In fact through an announcement in the government gazette on August 4th, the CIU has dropped from its approved real-estate project list five developments.
