CBI Grenada appoints new CEO, Thomas Anthony, to direct and manage the affairs of their bustling and coveted Investment Migration Program. Mr. Anthony brings with him an esteemed work portfolio in Banking, Finance, and the Investment Migration Industry, having held critical roles and made major contributions in Antigua, St Lucia and Miami, USA. He was the Project Development Officer, Deputy Chief Executive Officer, and Chief Executive Officer (Ag.) of the Antigua Citizenship by Investment Unit from 2013 to 2017, and the Global Head of Immigration, Citizenship, and Visa at Exiger, a global Governance, Risk, and Compliance firm, from 2017 to 2018.
The Challenges and Opportunities
Thomas Anthony’s appointment comes at an exciting period in Grenada’s Investment Migration climate, which has a renewed mandate and thrust from the Government of the day, and is navigating the ever-changing geopolitical developments. Anthony’s leadership comes at a pivotal time, where Grenada and other islands in the region that offer CBI programs have to balance the thin line between protecting the sovereignty of their country’s’ right to provide investment migration programs, while having to meet and defend the standards and demands from larger, more developed countries, many of which have similar investment programs.
In Grenada’s most recent budget statement, presented on Monday 5th December 2022, then-Finance Minister and Prime Minister of Grenada, Dickon Mitchell, quoted impressive figures for 2022, and also projected 2023 CBI earnings, which are anticipated to be over EC$240 million – double the amount collected last year. With this anticipated increase in revenue, the Government of Grenada also announced plans to set aside 10% of the CBI collections to be managed by the Eastern Caribbean Central Bank (ECCB) for disaster risk preparation and mitigation financing. The government’s decision to do so is innovative and denotes strategic use of CBI earnings in areas that directly target the well-being of the people of Grenada. CBI earnings will not only continue to finance massive government projects but also bolster the country’s capacity to respond in times of crisis brought on by natural disasters.
Having only being on the job for a couple weeks, it remains to be seen how Mr. Anthony and his management team will manage and handle the rapid developments in geopolitics that continue to be cause for concern not only for Grenada’s CBI program but also for all islands in the region that offer Investment Migration programs. More and more, bigger countries like the USA and the UK are making moves to sanction or restrict the investment migration programs in smaller countries, and curtail the movement of second passport holders from the Caribbean region. Most notably and perhaps most recent, is the agreement forged among Caribbean CBI countries and their big brothers to the North, to suspend processing applications from Russians and Belarusians. Grenada was the last country to suspend its service to Russians, officially halting those applications on March 31st, 2023.
The Road Ahead
Grenadian citizenship remains widely coveted however, providing wings of access to over 110 countries, a strong selling point on which the success of the programs stands. And of course, this is not the only selling point. For its peace, security, and quality of life, Grenada will remain a major player in the investment migration industry for a long time.
In short, Grenada can rest easy as the new CEO has been working intimately with several countries to develop, strengthen, and harmonize some of the processes of their various Citizenship by Investment Programs to withstand the tests and the challenges of the times. Meanwhile, Grenada continues to stand out globally for its stellar due diligence process, and the overall quality of its Citizenship by Investment program.
Just Inter-Continental Services Can Help You Understand what the Developments Mean for You
Just Inter-Continental Services (JICS) has a long-serving excellent record of supporting client applications and managing expectations, which has earned our company an approval rating of 93%. JICS has been helping applicants since 2014 to gain greater global access by becoming citizens of Grenada and navigating their way through the post-citizenship processes. We are experts in the industry and we monitor trends and will give the best advice and support needed to ensure your transition to your second home is smooth, worthwhile, and exactly what you desire.
Visit our website today at https://jicsgrenadacbi.com and explore options for applying to become a citizen of Grenada.
