Grenada Grenada Grenada Investor Immigration Authority (IMA) announces the most extensive CBI dataset ever

The Grenada Immigrant Investor Authority (IMA) has released the most complete dataset of the Citizenship by Investment Program (CBI) ever. These data help Grenada rise to the top position in the CBI Transparency Index. Progress in resolving the backlog of applications from Russia between 2022 and 2023 has been made, especially as Grenada is one of the only Caribbean countries that remains open to Russian citizens.

Processing of dossiers and turnover:

• By the end of last year, the number of unprocessed applications was 1,826, but has now dropped to 1,048. This decline is partly due to a decrease in the number of new applications, especially after no longer receiving applications from Russia, along with an increase in processing capacity.
• Revenue from the CBI program in the first half of 2024 reached about EC$502 million (US$186 million), down 10% compared to the second half of 2023. However, with an estimated number of unprocessed applications of nearly EC$600 million, Grenada could reach record revenue in 2024.

Selection trends and future forecasts:

• Since 2020, the majority of applicants have chosen to invest in real estate. The forecast for 2024 shows the possibility of setting a record for the number of new passports issued.

Nationality data:

• For the first time in its history, Grenada has published data on the nationality of applicants. Chinese accounted for 28%, Nigerians accounted for 21%, the United States accounted for 7%, and India and Lebanon both accounted for 5%.

Conclude:

Grenada’s CBI program is maintaining sustainable development, despite the challenges. With improvements in processing and economic stability, Grenada continues to be an attractive option for international investors seeking second citizenship. The diversification of applicants’ nationality origins and transparency in data will continue to drive the sustainable development and success of this program.