The Caribbean nation of Grenada is launching a “citizenship by invitation” program in an effort to attract a select group of wealthy investors for entrepreneurial opportunities, Fortune reports.
The program will be the first of its kind, securing “hand-picked investors” for innovative businesses as European countries wind down on visa programs. Similar programs require those interested to invest hundreds of thousands of dollars before securing an expedited residency or citizenship.
Grenada is doing things differently.
“The concept of ‘citizenship by invitation’ is set to revolutionize
the way that investment is channeled into communities,” a statement read. “It will empower governments such as Grenada to tailor their citizenship programs and attract hand-picked investors with the talent, experience, and capital to make an impact.”Investors “who will bring the most value to the Caribbean Island” will be officially invited after being nominated and vetted by global citizenship financial advisory services firm Forbes Global Talent and Arton Capital, the program designers, through a partnership with Grenada’s government.
Selected persons will be required to make a non-refundable donation to the nation or an existing business. With the first round of invites being sent out Feb. 1, the second option would be donating to real estate investment programs.
Arton Capital president Armand Arton thinks the process is an “extremely efficient and smooth process in comparison to other investment migrati
on programs worldwide. We think this model is a valuable way for countries to attract the investment and expertise they require,” he said, according to NY Carib News.Popular vacation countries like Spain and Portugal
have placed limitations on their programs as a result of rising housing costs for locals, which has heightened the housing crisis in each country. In early January 2025, Spain’s Prime Minister Pedro Sánchez announced a proposed plan to embed a tax of up to 100% on homes purchased by outside buyers. Another reason for the program limits is the concern of illegal money laundering.After becoming citizens of Grenada, the selected investors will constitute the Global Citizen Council and advise the country’s government with best practices on “how to drive innovation” in different industries. Grenada’s Prime Minister Dickon Mitchell will host the annual two-day advising session, giving investors access to a private plane.
“The people of Grenada are set to welcome a new wave of investment and innovation to our shores,” the prime minister said.