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Grenada's CBI records commendable performance




Tuesday, September 12, 2017 7:01 AM - George's, Grenada

 ST. GEORGE, GRENADA, SEPT. 12, 2017 - Grenada’s 2017 performance of its Citizen by Investment (CBI) Programme has exceeded the previous year.


CBI Committee Chairman, Kaisha Ince, has reported a spike in applications so far this year, which surpasses the total number of applications for 2016.

To date more than 410 applications have been processed, resulting in millions of dollars flowing into the local economy.


The committee now meets every week to process applications, instead of once per month.


“We would have received already, to date, approximately 250 applications, whereas for the entire year – 2016 – we would have received 178 applications. So, we are way ahead, in terms of performance over last year,” said Ince.


“In terms of revenue, what we are looking at currently, to date, for 2017, we are in the region of about $32 million US dollars so far and the year is still – we still have a few months to go”.


A CBI office has been set up for administration purposes.

The authority to approve applications for citizenship lies with the CBI committee, which reviews all application received.


The International Monetary Fund (IMF) has complemented Grenada’s CBI programme as being the gold standard for transparency and for having a strong legislative framework.


 

 

 

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