Grenada has decertified five projects under its Citizenship by Investment Programme (CBI) announcing also that the persons associated with these projects “shall immediately refrain from sourcing potential investors to invest in the decertified project”.
Under the CBI, foreign investors are granted citizenship of Grenada in return for making a substantial investment in the socio-economic development of the island.
In June, Prime Minister Dickon Mitchell had announced the authorities were in the process of decertifying several projects because they failed to commence despite being approved years before his administration was elected to office in June last year.
