Caribbean

Grenada CIU Clarifies: Russians Still Barred From CBI Program, Minister’s Statements Incorrect

Christian Henrik Nesheim ,  ,  ,  ,  ,  , 
Editor
Christian Henrik Nesheim

Yesterday, IMI reported that Grenada’s Minister of State With Responsibility for Agriculture and Lands, Fisheries and Cooperatives, Adrian Thomas, had made the surprise public announcement that the Grenada Citizenship by Investment Program (CIP) was once more open to all nationalities, including Russians.

Today, the Grenada CIU has issued a press release, denying the Minister’s statements, emphasizing that the ban on certain nationalities previously agreed to with the United States and Caribbean CBI peers remains effective, indicating the MInister did in fact speak out of turn, a possibility IMI had also pointed out yesterday.

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“The Grenada Citizenship by Investment (CBI) Programme clarifies and confirms that there has been no change to its policy debarring applications from Russia, Belarus, North Korea and Iran,” said the CIU’s statement.

“Senator Adrian Thomas, on Thursday evening, December 14, 2023, averred that his submissions in the Senate the previous day on the acceptance of the CBI applicants from all nationalities is incorrect. In making the correction, he confirmed that in truth and in fact applications are no longer accepted from Russia and Belarus as of March 31, 2023; and that the longstanding ban on North Korea and Iran remains in full effect.”

The statement added that Grenada remained “committed to the six CBI Principles agreed upon between the United States Treasury and the five governments of the Eastern Caribbean Investment Migration programs on February 25th, 2023. The CBI Unit’s steadfast adherence to these Principles; and the building of mechanisms to further entrench them in its operations continue unabated and uninterrupted.”

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