Russians Account for 90% of Grenada CBI Applications in 2023, Reveals Program Chairman
While it was always assumed Russian applicants had driven the program’s meteoric rise, the extent of their impact is only now becoming known.
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Caribbean
The 3 Ways Caribbean Citizenship Programs Could Respond to Saint Kitts & Nevis’ Price Hike
The remaining Caribbean CIPs have three ways to respond: James Nuveen explores the potential implications of each type of reaction.
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Will Other Caribbean CIPs Follow St. Kitts and Raise Prices? Here’s What the CIUs Are Planning
The question on everyone’s mind is if other Caribbean CIPs will raise prices like Saint Kitts. IMI contacted each to get an answer.
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Grenada CIP: Revenue Up 213% From Last Year, US$133M Invested in Real Estate Since January
With half a year to spare, Grenada’s CIP has already set a new annual revenue record of EC$573m, two-thirds of it in the form of real estate.
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Grenada De-Certifies 5 CBI Real Estate Projects Over Failure to Start Construction
Develop or get de-certified. That is the message Grenada’s CIU is sending approved real estate developers with this round of culling.
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St Kitts CIP Doubles Min. Investments, Addresses Rumored EU Demands Point by Point
Minimum investment doubled in most categories; in-person document collection; new limits on marketing methods; all effective immediately.
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EU Told Caribbean PMs They Will Cut Visa-Free Schengen Access “Shortly”, Claims Saint Vincent PM
One prime minister of a Caribbean CBI country who had attended the meeting, Gonsalves said, told him that “it’s the end of the road.”
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EU Agrees to Form Committee With OECS to “Discuss and Structure” CBI Programs
Kittitian PM Terrance Drew reports that during a recent summit in Brussels, the EU agreed to form a committee with OECS on the CBI question.
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Iranian Families of 4 Now Subject to Enhanced DD Fees of Up to $70,000 in Dominica: Other Nationalities Next?
Agents with Iranian clients last week scrambled to submit files before Dominica’s introduction of “enhanced due diligence” fees on Monday.
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First Data Batch in 3 Years Reveals Antigua & Barbuda CIP Now Caribbean’s Least Popular Program
Antigua & Barbuda has released the first statistical report on its CIP in more than three years. Figures show the program has fallen behind.
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Caribbean CBI Real Estate: Off-Island Escrow Accounts Raise Concerns
If the CBI developer itself funds the escrow account, how does the CIU know the CBI applicant actually invested the full amount?
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Having Shattered All Records in 2022, Grenada CIP Breaks Them Again in Q1 2023
While processing is starting to catch up, Grenada still had a backlog of 1,451 applications worth half a billion (!) USD at the end of Q3.
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Antigua, St. Lucia, and St. Kitts Gain Visa-Free Access to Canada (With Exceptions)
Many Saint Lucians, Kittitians, and Antiguans will no longer need apply for visas before visiting Canada – presuming they fly in.
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Saint Kitts & Nevis CIP Sees 90% Reduction in Approved Real Estate Following Reform
Before the new administration took office last year, Saint Kitts & Nevis’ CIP had 95 approved real estate options. Today, it has nine.
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St. Lucia CIU Denounces Online Claims of CBI Real Estate Fraud as “Incredulous” and “Clearly Malicious”
The blog (which listed no author and provided no evidence) claimed a former CIU head and the developer he now works for defrauded investors.
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Caribbean CBI Discounting “Will Continue Until Governments Put Their Foot Down”
Consensus among CBI service providers is that as long as CIUs look the other way and impose no real consequences, the problem will persist.
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Antigua High Court Rules Choksi Allowed to Remain Despite Govt’s Wish to Deport Him
To the consternation of local authorities, the fugitive diamond merchant will be permitted to remain in Antigua & Barbuda for now.
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Investment in Saint Lucia CIP Doubled in FY2021-22 Thanks to Sharp Increase in Real Estate-Based Applications
The Saint Lucia CIP’s annual report shows the program is setting new records on all fronts – but regressing slightly on transparency.
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Saint Lucia CIU Circular Says Promotion of CBI Real Estate Discounts Violate License Terms
Saint Lucia’s CIU is the third in the region this year to issue a reminder that the minimum investment amount for real estate is absolute.
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Thomas Anthony Returns as CEO of Grenada’s Citizenship by Investment Unit
Anthony returns for a second term as head of Grenada’s CIU. His first order of business: Tackling an unprecedented backlog of applications.
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