The Grenada government has earned nearly half a billion dollars (One EC dollar=US$0.37 cents) from the Citizenship by Investment programme (CBI) after the country approved 4861 new citizens for the period January to September this year.<\/p>\n
Under the CBI programme, foreign investors are provided with citizenship in return for making a substantial investment in the socio-economic development of the country.<\/p>\n
The 2024 Estimates of Revenue and Expenditure projected that for the period January to December, the revenue from the CBI had been put at EC$280.6 million but data in the August fiscal report shows that the government\u2019s revenue for the period January to August was EC$372.2 million.<\/p>\n
However, based on the latest data, which was released on Friday, the government\u2019s revenue from the programme for the period July to September was EC$202,394,508.11 with September earnings alone estimated at EC$76,845,490.05.<\/p>\n
As a result, the total revenue for the year so far stands at approximately EC$448.2 million exclusive of October earnings.<\/p>\n
One local agent said that the government\u2019s revenue actually crossed EC$500 million in October but that the data will be publicly released in the final quarter of 2024.<\/p>\n
During the period July to September, Nigerians and Chinese nationals represented 48.2 per cent of those granted citizenship through the programme which is managed by the Investment Migration Agency (IMA).<\/p>\n
Data released on the IMA website shows that a total of 1827 people were granted citizenship while 44 were denied.<\/p>\n
Nigerians according to the data represented 23.8 per cent or 435 people while Chinese nationals represented 24.4 per cent or 445 people were granted citizenship.<\/p>\n
The other nationalities receiving approval were 90 from the United States and 108 from Ukraine. Nationals from Vietnam, Syria, Armenia, Turkey, India, Lebanon, Iraq and South Africa also received citizenship.<\/p>\n
ST. GEORGE\u2019S, Grenada, Nov 1, CMC<\/p>\n","protected":false},"excerpt":{"rendered":"
The Grenada government has earned nearly half a billion dollars (One EC dollar=US$0.37 cents) from the Citizenship by Investment programme (CBI) after the country approved 4861 new citizens for the period January to September this 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News<\/a> Local News<\/a>","rttpg_excerpt":"The Grenada government has earned nearly half a billion dollars (One EC dollar=US$0.37 cents) from the Citizenship by Investment programme (CBI) after the country approved 4861 new citizens for the period January to September this 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