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Grenada runs a "Citizenship by Investment" program, offering a "golden passport" from $150,000. Demand for the program surged following Russia's invasion of Ukraine in February 2022. Russians called up as part of the partial mobilization go through military training in Rostov on October 21, 2022. But Grenada has flip-flopped on its decision to allow Russians to take part in the program. The office for the Grenada Citizenship by Investment program did not respond to Insider's request for comment.
Persons: Richard Hallam, , Arkady Budnitsky, Irina Batrakova Organizations: Investment, Service, Privacy, Transformation Fund, Bloomberg, Grenada's Ministry of Finance, Anadolu Agency, Getty, Batrakova, Grenada Citizenship Locations: Grenada, Ukraine, Wall, Silicon, Russia, Russians, Rostov
Grenada's citizenship-by-investment, or CBI, program has accepted 1,500 residents yearly since 2013. Gaining Grenada citizenship takes about three months and is less costly than other CBI programs. To be a Grenadian tax resident, the country requires 183 days of residence on the island a year. Jafri added that with a Grenadian passport, a traveler doesn't need a visa to travel to China. The investment in hotel and resort projects costs less than other kinds of real-estate development to help drive tourism to the country, Hallam explained.
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