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Grenada Suspends Economic Citizenship Program
Comments: The announcement below should be clarified. The USA government, in its efforts to plug up all the escape routes for Americans who wish to escape recently placed tremendous pressure on Grenada and Belize to rescind their passport programs.  Doubtless there was an exchange of money or 'benefits,' that went along with the demands.  The programs have been rescinded. 

Apart from the Dominica 2nd Passport Program, the only current way to get a legitimate new or 2nd passport is via a legitimate residency program, which entails a four to five year waiting time.  We recommend that you go to work on such a course as soon as is possible.  If you think America is a prison now, just wait five years. 
 

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Update: April 2004 
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In a move which has disappointed expatriates and offshore investors alike, the Grenadian Finance Minister, Anthony Boatswain, has announced that the country has suspended its economic citizenship programme, claiming that it was 'too risky' in the wake of the terrorist attacks in the USA.

'Grenadian passports can end up in the wrong hands and be used for purposes other than that for which they were intended,' he explained on Friday. 

Economic citizenship programmes, also adopted in other offshore jurisdictions such as Dominica and St Vincent and the Grenadines, allow investors and HNWI to aquire a legal second passport for a specified minimum investment in the local economy, and have been utilised in the main by developing jurisdictions in order to raise funds. However, the system has come under fire in the past, as it could conceivably be abused by those with less than honourable intentions. 

Economic citizenship was introduced as a concept in Grenada 3 years ago, and second passports were available from the jurisdiction for around $19,000. It is estimated that the suspension of this service will lose the island between $1.8 million and $2.2 million per year.
 

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