The Grenada Government has confirmed that it has actually started selling passports under its revamped Citizen by Investment Programme (CBI).
Tourism Minister Alexandra Otway-Noel made the announcement in an update to investors in London.
“We were delighted to issue our very first Citizenship Certificate in June of this year and our latest successful investor flew to Grenada from China this October to receive his Grenadian passport in person,” Otway-Noel told investors during a special presentation punctuated with segments promoting places around Grenada.
“My government is very supportive of this initiative. To allow foreign nationals to immerse themselves into the Grenadian experience and afford them the opportunity of becoming a citizen of our great nation, is a unique and privileged opportunity which we are most conscious of and intend to ensure its proper, continued stewardship and management”, she said.
The monies collected from these would be investors will be put into the National Transformation Fund as stipulated by the Citizenship by Investment Act brought into law late last year.
The 20-month old Keith Mitchell-led New National Party (NNP) government in St. George’s has already approved a number of projects to be funded by monies raised from the Citizen by Investment Programme.
The projects include certain developments earmarked for The Point at Petite Calivigny and Levera Beach in the north of the island.
Others that are expected to benefit from CBI investment funds are the Mount Cinnamon Resort and Beach Club of controversial British investor, Peter deSavary and the maritime village at Port Louis.
Persons seeking to become citizens of Grenada are asked to invest US 200,000 dollars into the fund or a minimum of US 250,000 dollars into a government approved project.
The Tourism Minister told the London forum that a number of applicants have already been approved under both the Transformational Fund and the Investment route and several others are currently being processed.
The Mitchell government has already given the green light to several local attorneys to act as agents to help facilitate the sale of passports under the CBI.
The list includes former President of the Senate, Leslie-ann Seon, Avril Trotman-Joseph, wife of current President of the Senate, Lawrence Joseph, and Venescia Banfield, the high profile lawyer for Prime Minister Mitchell.