Grenada Citizenship By Investment Applicant Nationality Statistics

In an unprecedented move, the Investment Migration Agency (IMA) Grenada has released the most comprehensive dataset on record for its Citizenship by Investment (CBI) program. The release includes, for the first time, a breakdown of Grenada citizenship by investment applicant nationality statistics.

What is The Top Applicant Nationality That Received Grenada Citizenship?

The data reveals that the program has made significant progress in clearing the backlog of applications, particularly those from Russian investors, which had accumulated in 2022 and 2023 when Grenada was the only Caribbean CBI program accepting Russian applicants. The backlog has been reduced from 1,826 at the end of 2023 to 1,048 currently.

Despite a sharp decline in new applications, the program's approval volumes remain at record highs, translating into sustained high revenues. CBI income reached EC$502 million (US$186m) in the first half of 2024, only slightly lower than the previous periods.

Applicants continue to favor the Approved Investment Project (real estate) option over the contribution route, with the gap between the two options widening. This trend is expected to continue, given the recent changes in the program's pricing structure.

The release of applicant nationality data shows that Chinese investors account for the largest share at 28%, followed by Nigerians at 21%, Americans at 7%, Indians at 5%, and Lebanese at 5%.

The program is on track to set multiple records in 2024, with the highest productivity levels at the IMA Grenada and a large backlog of unprocessed files to address. The number of new passports issued to CBI investors and their family members has already reached 3,034 by the half-year mark, suggesting a 27% increase over the 2023 total.

This move towards greater transparency by IMA Grenada is expected to boost confidence in the program and attract more investors in the coming months.