The Investment Migration Agency (IMA) Monday said it is taking enhanced compliance measures for all applicants to the Citizenship by Investment (CBI) Programme, which allows foreign investors to become citizens of Grenada by investing in the socio-economic development of the island.
‘The Investment Migration Agency (IMA) wishes to advise all stakeholders that, effective November 10, 2025, as part of its ongoing commitment to maintaining the integrity of Grenada’s Citizenship by Investment (CBI) Programme, enhanced compliance measures are being introduced for all applicants’.
These enhanced compliance measures are expected to follow steps showing investment verification procedures that includes alignment with international anti-money laundering standards and best practices and bank credit advice showing that investment funds were deposited directly by the applicant.
‘In alignment with international Anti-Money Laundering (AML) standards and best practices: 1.1 Attestation Form: All applicants investing in approved CBI projects must submit a completed Applicants Attestation Form, confirming that the investment funds are derived from the applicant’s own verifiable resources or, if applicable, the sponsor’s resources, as outlined in the Sponsor’s Application Form.
‘These forms must be signed and notarized by a notary public and submitted to the Agency through the applicant’s Local Agent as part of the application package,’ said the statement, explaining the Verification of Investment Funds measure.
Regarding the bank credit advice, the IM said that applicants must provide bank credit advice demonstrating that ‘the investment funds were deposited directly by the applicant or from the source indicated on their application form into the developer’s account and which will be ultimately transferred into the Escrow Account or Government’s approved account.’
For alignment with AML standards, the statement said that these measures are in line with international Anti-Money Laundering (AML) procedures and best practices.
‘By requiring applicants to attest that their investment funds are derived from verifiable personal resources and providing proof of direct transfers, the IMA ensures that all investments are legitimate, traceable, and transparent, reinforcing the integrity of Grenada’s Citizenship by Investment Programme.’
The IMA said these measures reinforce its commitment to transparency, legitimacy, and traceability of qualifying investments, ensuring that all contributions to the Programme are verifiably sourced.
‘The IMA remains steadfast in safeguarding the credibility of Grenada’s Citizenship by Investment Programme through rigorous compliance, transparency, and fairness. These updates reflect our ongoing efforts to protect the interests of genuine applicants and uphold Grenada’s international reputation,’ said the circular.
Since the CBI programme commenced in 2014, there have been several legal regulatory changes to the procedures. Revenue from the programme has surpassed the one billion dollar mark (One EC dollar =US$0.37 cents) and during that period and more than 20,000 people from various countries including the United States, Saudi Arabia, South Africa, India, Russia and Turkey have gained citizenship of Grenada.
Meanwhile, the Grenada government has revoked Reef View Enterprises Ltd’s status as a licensed local agent under the Grenada Citizenship by Investment Act.
In June 2025, the IMA, under the direction of the Citizenship by Investment Committee suspended the license of Reef View Enterprises Ltd, following a three-month investigation.
The company describes itself as ‘Grenada’s premier licensed CBI local agent providing bespoke immigration support to businesses and private clients’ and served more than 3,000 people since 2020.
RVE websites say that in addition to Grenada, it provides CBI-related services to regional territories with CBI programmes and Vanuatu and Turkey.
But the government said that it has ‘ permanently revoked Reef View Enterprises Ltd’s status’ and that the decision follows the IMA’s prior suspension notice, during which stakeholders were instructed to cease all engagements with Reef View Enterprises Ltd pending the outcome of the investigation.
‘The company is therefore no longer authorized to operate, represent, or conduct any business under the Citizenship by Investment Programme of Grenada,’ said the IMA.