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Grenada Launches Citizenship by Invitation Program · IMI Podcasts

• 0:00
  SPEAKER_00: Grenada launched a citizenship by invitation program on January 27th in collaboration with Art and Capital and Forbes Global Talent.
• 0:08
  SPEAKER_00: Under this program, Grenada will handpick ultra-high net worth investors to obtain citizenship.
• 0:15
  SPEAKER_00: The initiative reverses traditional citizenship by investment dynamics, as Grenada will invite investors rather than accept applications.
• 0:23
  SPEAKER_00: The program targets leaders in renewable energy, innovation, technology, banking, and hospitality sectors, aiming to channel investment into these priority areas.
• 0:33
  SPEAKER_00: At a September 2024 preview event at New York's Amman Hotel, Prime Minister Dickon Mitchell outlined plans to transform investment attraction through specific project proposals, highlighting renewable energy as a key focus in the country's post-hurricane barrel recovery strategy.
• 0:50
  SPEAKER_00: While operating within the existing Citizenship by Investment Program, also known as CIP framework, this new pathway introduces an invitation-only model with enhanced benefits.
• 1:01
  SPEAKER_00: Applicants can expect processing times of three to four months, substantially faster than the standard CIP timeline of six to eleven and a half five months, according to IMI's Processing Times Tool.
• 1:14
  SPEAKER_00: The pre-vetting by Art and Capital and Forbes Global Talent enables this acceleration, though candidates must still meet all standard due diligence requirements.
• 1:23
  SPEAKER_00: Other benefits include lifetime passport renewals, courtesy of Art and Capital and the CIU, annual two-day advisory sessions with Prime Minister Dickon Mitchell at Silver Sands Resort Grenada, and private jet transportation to and from Miami, Florida.
• 1:39
  SPEAKER_00: Prime Minister Mitchell says the initiative aims to benefit beyond that initial investment, focusing on expertise alongside capital.
• 1:48
  SPEAKER_00: According to Armand Arton, CEO and Chairman of Art and Capital, Grenada is securing a pipeline of highly qualified pre-assessed talent, bringing investment that will directly benefit the Grenadian population.
• 2:02
  SPEAKER_00: Grenada's government plans a proactive approach by identifying priority sectors and making strategic decisions about what areas of the economy we want to have CBI funds improve, as outlined by Prime Minister Mitchell.
• 2:15
  SPEAKER_00: For David Friedman, partner at Forbes Global Talent and co-founder of WealthX, this innovation reflects the evolution of trailblazing industries in the investment migration sector.
• 2:26
  SPEAKER_00: He emphasizes that, quote, the global battle for human talent is getting increasingly fierce, and states across the world face a uniquely competitive environment in which they must thrive.
• 2:37
  SPEAKER_00: End quote.
• 2:38
  SPEAKER_00: The new program comes on the back of a year in which Grenada's CIP broke its processing record but saw application volume drop 81%.
• 2:47
  SPEAKER_00: While the official announcement speaks of hand-picked investors with the talent, experience, and capital to make an impact, details remain unclear about the qualification criteria and selection process.
• 2:59
  SPEAKER_00: Questions also arise about whether Art and Capital and Forbes Global Talent will rely on an existing database of potential investors, or if the program will involve approaching candidates who haven't previously expressed interest in citizenship investment programs.
• 3:14
  SPEAKER_00: The program's accelerated processing time, cutting the current wait time by more than half, raises questions about resource allocation and fairness to regular CIP applicants.
• 3:25
  SPEAKER_00: The government has not yet clarified whether it will open this to the public and if interested parties can request consideration for an invitation.
• 3:32
  SPEAKER_00: Key operational details also remain undefined, including the total number of invitations Grenada plans to issue, the size of the first round, and whether the list of potential investors will remain static or allow for additions.
• 3:46
  SPEAKER_00: The structure and scope of the private advisory sessions with the Prime Minister also await clarification.
• 3:52
  SPEAKER_00: IMI has asked IMA, Grenada, and Arton Capital these questions and more, and will update you in a follow-up article once Grenada issues its first round of invitations on February 1st.
• 4:06
  SPEAKER_00: This episode first appeared as an article by Amada Bas on IMIDailily.com.
• 4:12
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• 4:19
  SPEAKER_00: And upgrade your membership to IMI Pro to get access to our exclusive professional community, citizenship catalog, investment migration company Rolodex, private briefings, and more members only content.