Grenada's Citizenship by Investment is changing in 2024. First came the launch of the IMA Grenada, and this Investment Migration Agency, has just released a circular with a new list of ineligible countries/nationalities for applying for Grenadian citizenship. Find out all the details in our latest news.
Circular No. 1 of 2024 from IMA Granada
This circular signed by Thomas Anthony, CEO of the Agency, was released on Monday, March 25, 2024. It “informs that nationals residing in the following countries are ineligible, without exception, to apply, with effect from 1st April 2024:
- Iran
- North Korea
- Russia
- Belarus
- Sudan
- Yemen
- Afghanistan
How to Move from Ineligibility to Eligibility with Grenada Citizenship
It is not a total ban for all candidates from Afghanistan, Iran, Sudan, and Yemen, however. If you were born in one of these 4 countries but left before the age of 18, you may become eligible. You would also have had to be a permanent resident of Canada, the UK, the Schengen Area, the United States, Australia, New Zealand, Saudi Arabia, or the UAE for at least 10 years. Or have been approved for a visa in those countries.
You may also become eligible as a permanent resident or visa holder of the areas specified above. However, regardless of whether you left before or after the age of majority, you cannot have any economic ties with any of the 7 restricted countries.
One last stipulation is enhanced due diligence. This “on-site investigation… may have a significantly higher cost to the applicant.”
Perspective of RIF Trust
Chris Willis, our Caribbean representative, recognizes that the circular is in line with a broader policy change. It says: “Grenada’s Citizenship by Investment Program raised around $90 million in 2023. Grenada used this amount to improve its infrastructure and finance public projects.”
“To satisfy the concerns of the US and the EU, Grenada decided to limit applications by increasing the number of restricted countries. However, the island remains an attractive mid-range haven from the United States, with direct flights from Canada, Germany, and the UK also available if you really want to explore the benefits of citizenship in such a beautiful country.”
How to Obtain Grenada Citizenship
If reading this article has sparked your interest in Grenada's Citizenship by Investment, please contact us. We are the leading experts in investment migration in the Caribbean. Therefore, don't waste any time and contact the RIF Trust today.
For the full article, visit: https://www.riftrust.com/grenada-citizenship-becomes-more-exclusive/
