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CBI citizens form 1.8% of Grenada’s disapora population

Grenada’s Citizenship by Investment  scheme came into effect August 2013, when the Grenadian Parliament passed Act No. 15 of 2013.

 

Since the launch of the scheme, Grenada has granted little over 2000 investors under the CBI program according to the Ministry of Finance statistics

 

Grenada’s local population in 2018 is estimated at 108,339.  Since the start of the CBI until Dec 2018, Grenada has granted citizenship to 2,023 persons who invested in Grenada under CBI. This means CBI citizens only form 1.8% of Grenada’s diaspora population living outside the country.

 

With St Kitts, CBI citizens form one-third of diaspora population who live outside the country, considering the population of St Kitts is only half that of Grenada.

 

CBI citizens
Source: Ministry of Finance of Grenada

 

Year CBI citizens
2014 19
2015 246
2016 259
2017 705
2018 794
Total 2023

 

 

Steady Flow of Applications for 2018

 

Grenada has been receiving some steady flow of CBI applications in 2018.

 

  • CBI applications peaked in Apr, Jun, Sep
  • 68% of applications for NTF fund
  • 98 applications received for CBI real estate investment
  • 15 Applications have been refused under CBI (Refusal rate is low 4.7%)
  • Only one application approved in March and four in December

 

CBI Applications 2018
Grenada CBI Applications 2018

 

 

Applications NTF Real Estate Approved Rejected
Jan 26 16 10 18 0
Feb 27 18 9 14 0
Mar 24 15 9 1 0
Apr 30 24 6 13 2
May 22 16 6 29 2
Jun 32 24 8 4 5
Jul 25 15 10 45 2
Aug 28 19 9 6 1
Sep 31 24 7 10 2
Oct 20 14 6 47 1
Nov 30 19 11 32 0
Dec 18 11 7 4 0
Total 313 215 98 223 15

 

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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