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Grenada Citizenship via Investment: Combating Illegal Fraud
Grenada Citizenship via Investment Program have proven its worth by enhancing the reputation of investment citizenship programs globally.
To maintain the relevance and integrity of the Grenada Citizenship via Investment Program, the program’s governing body has intensified its legal action and taken several decisions to halt these practices.
The Grenada Citizenship via Investment Agency has faced increasing international pressure on this matter, particularly from the Financial Action Task Force (FATF), the Organization for Economic Co-operation and Development (OECD), and the European Union, as part of the process of reforming investment citizenship programs around the world.
Legal Regulations in the Grenada Citizenship via Investment
The Grenada Citizenship via Investment Agency, also known as the Grenada Investment Immigration Agency (IMA), which is responsible for receiving and processing applications for the program, has announced several decisions to maintain the integrity of the program.
The measures taken are in line with global expectations. First, these measures ensure that only individuals with transparent financial backgrounds are eligible for a Grenada passport by investment. Second, these measures are a proactive measure to mitigate risks that could threaten the viability of Grenada’s Citizenship by Investment program.
Among the measures taken are the cancellation of eight new applications to the program and one person who got Grenada citizenship due to their involvement in illegal practices, in addition to the cancellation of the agency of the implicated offices.
These regulations were announced on March 5, 2025, in Circular No. 3/2025, which focuses on recently discovered violations, including illegal discounts and unauthorized financing arrangements.
A marketing agent and sub-agents of a real estate developer were also implicated, with evidence of them obtaining loans of up to $100,000 from some Grenada citizenship via investment applicants, a clear violation of Grenada’s Citizenship via Investment Regulations.
These practices and violations not only impact the legal and regulatory frameworks but also the overall transparency of Grenada’s Citizenship by Investment Program and investment immigration programs around the world. For its part, the International Organization for Migration (IOM) in Grenada condemned these practices and issued several measures in response to these violations.
Actions Taken by the Grenada Citizenship via Investment Unit
~ GCC
◈ Six applicants were rejected in the second half of 2024, two applications in early 2025, and another application is expected to be rejected soon due to illegal discount practices.
◈ The citizenship of one applicant, who was found to have benefited from discounted rates, was revoked.
◈ The Unit directed an audit of the files of individuals from the implicated agency and some of its sub-agents.
◈ The powers of the sub-agents involved in these malpractices were terminated.
◈ Oversight efforts were intensified to detect any illegal activity within the program.
◈ Program costs were redefined to ensure they meet the appropriate investment requirements for Grenada Citizenship by Investment
Investment Costs for Grenada Citizenship via Investment
◈ The minimum real estate investment is $270,000, which goes to the developer, plus $50,000 to cover government administrative costs.
◈ The minimum investment for non-tourism projects is $350,000.
◈ The non-refundable contribution to the National Transformation Fund is $235,000.
The above investment costs apply to one person or a family of up to four people.
Grenada Citizenship via Investment and Caribbean countries
The Grenada Citizenship via Investment Unit’s procedures are in line with an agreement concluded last year between Caribbean citizenship-granting countries, including Grenada, Saint Lucia, Saint Kitts and Nevis, Antigua and Barbuda, and Dominica.
The previous agreement prohibited the sale of citizenship at less than its true value and stipulated that any reduction in the minimum eligibility for a Caribbean passport would be illegal. The agreement also focused on the following points:
◈ Unifying the minimum investment requirement between these countries at US$200,000.
◈ Exchanging information between these countries to ensure optimal compliance with the standards.
◈ Establishing an external regulatory structure to oversee implementation and compliance.
Grenada Citizenship via Investment Agency warning
In light of increasing international scrutiny of the integrity of citizenship by investment programs, the Grenada Citizenship via Investment Agency has taken several decisive steps to eliminate illegal financing in its program, setting a model for other investment immigration programs.
The agency responsible for Grenada’s citizenship by investment has warned agencies, sub-agencies, and potential applicants against engaging in illegal practices, indicating that such practices will be met with the following actions:
◈ Suspension of licenses of implicated agents.
◈ Rejection of applications of implicated applicants.
◈ Revocation of citizenship from implicated citizens.
◈ Loss of approved development project accreditation.
What constitutes a violation in Grenada Citizenship program?
◈ Providing misleading or false information and documents to conceal the true source of investment funds.
◈ Using an offshore financing structure not listed in the application.
◈ Fraudulently using bridge loans that are later withdrawn after the investment requirements have been met.
Future of the Grenada Citizenship via Investment Program
◈ Stricter compliance to maintain the integrity of the program.
◈ Enhancing investor confidence in these programs.
◈ More transparency and accountability for agencies and applicants.
Recent developments can be summarized by advising applicants to only work with reputable and experienced accredited agencies. Contact an expert at Global Citizen Consultants, the accredited agency for Grenada’s second citizenship program, to answer any questions or concerns.
About Author
Taher Shehab
As co-founder and CEO, Taher Shehab has guided Global Citizen Consultants to be a leader in providing citizenship by investment in over 20 territories, including the Caribbean.
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