In a brief statement circulated among stakeholders today, Karline Purcell, Chief Executive of Grenada’s Citizenship by Investment program authorities, writes that “The Government of Grenada has decided to temporarily suspend the acceptance of new applications from Russians and Belarussians [sic] for the Citizenship by Investment Programme with immediate effect,” adding that the government “is closely monitoring the current situation in Ukraine and will advise of any further changes to its current policy on this matter.”
Grenada CIP thus becomes the fourth in the Caribbean, and the fifth overall, to suspend the consideration of applications from Russian and Belarusian CBI investors. Since the Russian invasion of Ukraine, Russians and Belarusian applicants have been barred from the CIPs of Antigua & Barbuda, Dominica, Saint Kitts & Nevis, Malta, and finally Grenada.
The Greek golden visa has also banned Russians, while Portugal’s will not take applications from neither Russians nor Belarusians.
Russian and Belarusian applicants remain welcome under the CIPs of Turkey, Montenegro, and of Saint Lucia, the final Caribbean hold-out, where the minister responsible for the program has indicated an aversion to discriminating against CBI applicants on the basis of nationality alone.
More on the exclusion of Russians and Belarusians from the world of investment migration:
- St. Kitts Suspends Russian, Belarusian Applicants – Saint Lucia, Grenada, Turkey Remain Open
- Caribbean CIPs Issue Suspensions on Russians, Belarusians, And Even Ukrainians
- Malta U-Turns, Suspends Russians, Belarusians from CBI and RBI After All, Citing Inability to Conduct Due Diligence
- Greece Suspends Golden Visa Application, Issuance, and Renewal for Russians
- Confusion About Ban on Russians from Portugal’s Golden Visa amid Contradictory Reports
- White House, EU, UK, and Canada Vow to “Limit the Sale of Citizenship” to “Act Against” Russian Government
Christian Henrik Nesheim is the founder and editor of Investment Migration Insider, the #1 magazine – online or offline – for residency and citizenship by investment. He is an internationally recognized expert, speaker, documentary producer, and writer on the subject of investment migration, whose work is cited in the Economist, Bloomberg, Fortune, Forbes, Newsweek, and Business Insider. Norwegian by birth, Christian has spent the last 16 years in the United States, China, Spain, and Portugal.