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A new era for investment migration in Grenada

Thomas Anthony – the Chief Executive Officer of the Investment Migration Agency

In a move aimed at redefining its presence in the global market, Grenada’s Citizenship by Investment Unit has undergone a significant transformation, emerging as the Investment Migration Agency (IMA) Grenada.

The new logo and tagline was unveiled at a prestigious event held at the Royalton Hotel, Point Salines, St. George on Wednesday, marking a pivotal moment for the nation’s investment migration industry.

Crafted by St. Kitts-based Open Interactive Inc., the agency’s new logo is a striking amalgamation of symbols deeply rooted in Grenadian identity.

A fingerprint, representing individuality, is intertwined with icons of nutmeg and mace, emblematic of the nation’s flag and vital exports.

Accompanying this visual transformation is the agency’s new tagline, “Unlock the Possibilities,” a rallying cry for both investors and citizens alike.

Chief Executive Officer (CEO) of IMA Grenada, Thomas Anthony, emphasised the strategic importance of this rebranding, stating that it signifies a concerted effort to redefine Grenada’s narrative in the global migration market.

Anthony highlighted the need for a cohesive brand identity to effectively market the country’s citizenship programme, stressing that the previous branding lacked distinction amidst regional competition.

“A marketing and promotion programme is more effective when a company has a consistent clear message and brand identity. The current brand mark has inherent limitations in terms of how it may be used for different merchandise,” said Anthony who also pointed out that the use of the Coat of Arms “does not stand out against competing regional countries.

“That being the case” the IMA CEO stressed that it has become clear that “we needed a new brand consisting of a brand mark, a logo and a tagline.”

According to Anthony, it is highly anticipated that Grenada’s newlook migration brand will stand out amongst its regional competitors “to become a beacon of opportunity, and a preferred destination for discerning investors globally.”

He also underscored the agency’s commitment to elevating Grenada’s status as a premier destination for investment migration.

Prime Minister Mitchell, who is the line Minister for IMA, expressed optimism about the prospects of the rebranded investment migration industry, which earned the country “EC$456 million in 2023,” and is expected to “earn revenues of approximately EC$317 million (from IMA) in 2024.”

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The Grenadian leader emphasised the crucial role of local support in safeguarding the industry’s future, and highlighted the need for Grenadians to embrace and defend the benefits derived from the programme.

“We see the migration investment industry as any other financial services industry that is available to mankind to be able to maximise the benefit of being a global citizen,” Prime Minister Mitchell told the gathering.

“If we do not get our population to own and support and defend this industry, it will be quite easy for those who wish to see its demise to do so, because if we don’t have local support for the migration industry and the benefits that this country has obtained as a result of having this programme, then it becomes much more difficult to defend,” he said.

Affirming his government’s commitment to the new and exciting venture, the Prime Minister gave assurance that the Congress government would move “swiftly” to make the necessary legislative changes to facilitate the rebranding process.

The Investment migration programme is managed by a committee chaired by retired banker Richard Duncan, a former Budget Officer in the Ministry of Finance.

Duncan said that Grenada prides itself for having a robust investment migration programme with due diligence that comprises an effective biometrics identity system.

He said that “the statistics would show that about three to four per cent of applications received are denied” and that “Russians have been the dominant applicants (in the last two year’s) 2022 and 2023.”

Between January 2017 to September 2023, Grenada gained 11,814 new citizens through the passport-selling scheme known as Citizenship by Investment (CBI) with 4,342 or 37% of that number approved by the Dickon Mitchell cabinet during the 15-month period from July 2022 to September 2023.

As Grenada embarks on this new chapter, the Investment Migration Agency indicated its readiness to unlock a world of possibilities for investors seeking a prosperous future on the shores of the Spice Isle.

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