A Warning from Grenada on misuse of Citizenship by Investment
April 23rd 2019
Grenada states that it will not allow its passport to be used by those attempting to escape due justice.
Nikolas Steele, International Business Minister, has made statements specifying various extradition agreements with several countries, most notably indicating their agreement with Russia. In short, if Russia were to request the extradition of a specific person(s) on legal grounds, Grenada would hand over the accused.
Grenada, among several other countries in the Caribbean, will grant citizenship to foreigners that make sizeable contributions or investments to the economic improvement of the country. This is done under the CBI (Citizenship by Investment program.)
Minister Steele has made it very clear that any attempts made at using Grenada’s citizenship to evade criminal prosecution or participate in illegal activities will lose that right as soon as the country brings it to Grenada’s notice.
At the Next Step International Conference, he specified that Grenada’s CBI will not be used as a loophole for criminals to seek refuge from criminal proceedings.
Grenada would unfailingly revoke and remove the passport and rights to citizenship from any person that is extradited. Indications were made that this has been done in the past, however Minister Steele did not divulge any specifics on those people, nor did he detail the number of people whose citizenship had been revoked due to foreign criminal activity.
This is the second official Next Step International Conference, which has been organized for investors from Russia, with the stated purpose being to deepen and strengthen the ties with Grenada along with several other of the of the Caribbean islands in the region.
Other countries in attendance included representatives from St. Kitts, St. Lucia, Nevis, Antigua and Barbuda. The event was organized by St. George’s Club of Russia, the government of Grenada and Instituto Bering-Bellingshausen para las Americas.
President of Intituto Bering-Bellingshausen para las Americas, Sergey Brilev recognized the Next Step as being one that allows for candid exchange of opinion, open discussions and the exchange of opinions on several topics relevant to the regional, as well as global, economy.