Nigeria and China have emerged among the top five source countries for applicants seeking citizenship-by-investment in Grenada.
This development highlights a broader shift in demand for second passports, moving beyond traditional Western applicants.
According to BusinessDay, fresh data from the Investment Migration Agency revealed that Nigerians and Chinese nationals secured the top two positions among new citizens approved in the final quarter of 2025. Iraq placed third, followed by the United States in fourth position and Pakistan in fifth. This diverse ranking reflects ongoing geopolitical uncertainties and increasing worldwide interest in enhanced mobility options.
The overall approval figures indicate a slowdown. For the first time since 2021, Grenada granted fewer than 1,200 new citizens through its CBI programme in 2025. This represents a significant decline compared to previous years, which saw 5,443 approvals in 2024, 4,794 in 2023, and 1,396 in 2022.
Despite fewer approvals, the programme remains vital to the economy. Presenting the 2026 budget, finance minister Dennis Cornwall described the agency’s performance as “strong and credible”, positioning the CBI scheme as a pillar of foreign investment and budget stability. By the end of the third quarter, he said, the agency had already met its annual revenue target and was on course to exceed it by up to 10 per cent.
Two new projects joined the approved list in 2025: One True Blue Beach Hotel and Residence, and La Sagesse Collections. These additions increased the number of active CBI-linked developments to eight. Authorities maintain that expanding real estate choices has supported investor confidence amid moderating application numbers.
The Investment Migration Agency has implemented stricter measures. Cornwall told parliament that enhanced due diligence, operational upgrades and alignment with evolving global compliance standards were central to the programme’s reset. An “Enhanced Local Developer Policy” seeks to direct more economic benefits to local participants instead of foreign intermediaries.
Plans for 2026 include a major legislative update. The agency intends to repeal and replace the current CBI law. Additional priorities encompass digital improvements, stronger engagement with the diaspora, and outreach to new source markets. These steps demonstrate Grenada’s commitment to regulated, sustainable expansion to preserve the programme’s credibility over the long term.
