• Latest

House of Representatives approves Citizenship by Investment Bill

8 years ago

NAWASA statement on water quality concerns

2 hours ago
Grenada affected by volcanic ash particles and Saharan dust

Grenada affected by volcanic ash particles and Saharan dust

7 hours ago
Ambassador of Grenada presents copies of letters of credence to Kazakhstan

Ambassador of Grenada presents copies of letters of credence to Kazakhstan

9 hours ago
Nurse who swapped Caribbean for a Covid ward

Nurse who swapped Caribbean for a Covid ward

9 hours ago
For Jewish medical students in Grenada, a new home away from home

For Jewish medical students in Grenada, a new home away from home

9 hours ago
Appointment of GEF Executive Director

Appointment of GEF Executive Director

10 hours ago
National Cleanup Begins Friday

Urgent call for water and other supplies for St Vincent

10 hours ago
Government says “no physical altercation” between journalist and junior minister

Grenada actively engaged in preparations to receive evacuees

2 days ago
Claims of coronavirus at SGU designed to create fear and panic

Covid-19 update: Grenada Dashboard 9 April

2 days ago
US congratulates Grenada on arrival of Covid-19 vaccines from COVAX

US congratulates Grenada on arrival of Covid-19 vaccines from COVAX

2 days ago
Preliminary Results of 2013 General Election

RGPF on high alert for illegal activities within Grenada–St Vincent marine space

2 days ago
Death of The Duke of Edinburgh, Prince Phillip, 9 April 2021

Death of The Duke of Edinburgh, Prince Phillip, 9 April 2021

2 days ago
NOW Grenada

Main Header Ad 468x60

booked.net
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Article Header

House of Representatives approves Citizenship by Investment Bill

This story was posted 8 years ago
5 August 2013
in Business
2 min. read
Port of St George’s, Grenada
Share

Under the new format of Grenada’s economic citizenship and investment programme, all persons who are approved will have to spend some time residing in the country, as part of the terms and conditions to receiving a passport.

“We don’t want people going out there with our passport and they have never visited the island,” said Prime Minister Dr Keith Mitchell, when he presented the Citizenship by Investment Bill for approval by the 15 members in the Lower House of Parliament last Friday.

“This time we are going to be scrutinising the way it will be implemented” he said, while pointing that the previous programme which was suspended, had weaknesses that were abused by some the very people who financially benefitted. “We don’t want those kind of things repeated, so conditions for this new programme will be rigourous,” he added.

The programme when in effect, will be marketed and promoted by agents who must have a physical office in Grenada. The legislation also provides for the establishment of a Citizenship by Investment Committee, which will be charged with the responsibility of processing any application, which must be done by an agent who is licensed by the Committee. Anyone who fails to obtain a license commits an offence and is liable on summary conviction to a fine not exceeding EC$50,000.

The legislation also provides for Government to establish a Transformational Fund where investors will have to deposit investment capital. That figure is not yet agreed, but Prime Minister Mitchell who is also the Minister for Finance said that EC$1 million is presently being considered.

The names of all persons granted permanent residence and citizenship will be presented in the Parliament biannually through a report. Apart from the names, the report should also contain all who were refused citizenship, and the amount the person has invested.

During the 2013 Budget presentation, Prime Minister Mitchell said that an economic and investment citizenship programme has existed in many developed and developing countries for years, and promised the Grenada will design a programme that will take great care to attract clean and credit investors.

Education Minister Anthony Boatswain, in his support for the Bill, said that the programme is not about selling passports. “We are not promoting the sale of passports, but the sale of economic opportunities. The aim of this programme is economic partnership,” he said.

 

 

 

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.

Tags: citizenshipforeigninvestmentpassport
Next Post
New Director of Operations at Hilton Barbados Resort

New Director of Operations at Hilton Barbados Resort

Comment on story Cancel reply

Please enter your valid email address.
Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Home Sidebar NP 300x250

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Copyright NOW Grenada

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

NOW Grenada
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.