The Grenadian Citizenship by Investment program has transferred from using hard-copy application packages to a digital application process.
This transformation includes applications for citizenship filed by investors, applications from firms to become local or international marketing agents, and applications for real estate projects to be approved under the citizenship by investment program.
The digitalisation of the program application process is another step in Grenada’s efforts to become home to the world’s fully digitalised citizenship by investment program, a matter that would significantly reduce processing times and resource requirements, eventually streamlining the entire program and making it much more attractive to prospective investors.
CBI Grenada: Adapting to a Changing Landscape
The recent digital change comes as a continuation of the digitalisation of the program that took place during the COVID pandemic. Caribbean citizenship by investment programs were quick to react once the pandemic hit, shifting their operations online to maintain their procedures, and as other programs in countries such as those of the EU, which had to deal with massive bureaucratic red tape, struggled to digitally transform their programs, the Caribbean citizenship by investment programs, who benefit from a much more localised decision-making hierarchy, did so admirably.
However, that did not include the digitalisation of applications, a matter which Grenada has almost entirely completed. The only thing that remains needed in hard copy is the passport and accompanying photos, but Grenada is working on a way to shift that online as well while also maintaining a high level of due diligence capability.
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New Interview Requirement
The Grenadian CIU also announced on August 1st, 2023, that the unit will begin conducting mandatory interviews with applicants starting September 1st, this year, with an interview fee of $1000 each.
The introduction of the interview requirements follows the outcomes of a roundtable meeting of top Caribbean officials with US delegates earlier this year, resulting in six new principles the Caribbean citizenship by investment programs will now have to follow.
The interviews are a positive step for the programs, as:
- Interviews will offer a clearer line of communication between the government, agents, and the investors who want to obtain citizenship by investment.
- By holding an interview, the CIU and applicants can clear up any outstanding issues quicker than doing so by email, and investors have a platform where they can discuss their files directly with the government officials who are handling them.
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CBI Grenada Language Requirements
While the Grenadian government is yet to release an official statement or guidelines as to how the interview process will be conducted, it is widely expected that it will take an online format using video conferencing tools.
Grenada’s citizenship by investment program, like the rest in the Caribbean, does not have a language proficiency requirement, meaning that some investors who apply may not have the English communication ability to attend the interview on their own. In this case, the CIU would organise for a traslator.
Savory & Partners has a team of multi-lingual professionals who can support clients to prepare for the interviews, no matter where they are from or what languages they speak.
To know more about Grenada and its citizenship by investment program, contact Savory & Partners today to book a comprehensive consultation with one of our experts.
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