Caribbean countries have adopted six principles for CBI programs. One of them is the suspension of acceptance of applications for Grenada citizenship for investment from Russians and Belarusians. The official press release was published. 

On February 25, 2023, the U.S.-Caribbean meeting on Citizenship for Investment (CBI) was held in St. Kitts and Nevis. The outcome of this roundtable was the consolidation of the six principles of CBI programs.

These are the principles:

  • Suspend the processing of applications from Russians and Belarusians. Four jurisdictions have already suspended applications, and Grenada, which processes applications from Russians and Belarusians with extra care, will suspend processing of new applications from Russia and Belarus beginning March 31, 2023.
  • Applications of foreigners who have already been denied in another CBI jurisdiction will not be processed. This will be possible due to the exchange of information on refusals between the countries.
  • Conduct interviews with investors, both offline and online. 
  • Conduct additional checks on each application. Each jurisdiction will conduct an audit of each application with its country’s financial intelligence unit. 
  • Conduct program audits in accordance with internationally accepted standards, and do so annually or every 2 years.
  • Request law enforcement assistance to recover revoked/recalled passports.

Fatima Sulim, a representative of the Heng Sheng Group, confirmed this information to REALTING:

— Yes, the information is reliable. I was in Grenada just as the St. Kitts and Nevis meeting was going on. Those who have time to apply with a full application package by March 31 will be considered, and their applications will be processed until the end. So for all those who want to participate in the Grenada citizenship program, now is the time to hurry.