On Wednesday, Grenada unveiled the rebranding of its Citizenship by Investment (CBI) Unit.

The Prime Minister, Dickon Mitchell, expressed his hope that the new name, the Investment Migration Agency of Grenada, will encourage more Grenadians to support and defend this migration industry, which generated an estimated revenue of EC$456 million last year.

Grenada is one of the few Caribbean countries that offers CBI programs. These programs allow foreign investors to obtain citizenship in exchange for a significant investment in the island’s socio-economic development.

Mitchell emphasized that migration is a natural part of human existence and that small islands like Grenada should benefit as much as possible from individuals’ migration, either temporarily or permanently.

He views the migration investment industry as any other financial services industry available to mankind, enabling people to maximize the benefits of being a global citizen.

Mitchell believes that the rebranding should alter Grenadian perceptions of the migration industry. He stated that without local support, it would be easy for those wishing to see its demise to do so.

Recent concerns about the program have been raised by the European Union, the United Kingdom, and the United States, who believe it poses a national security risk to their borders.

On Tuesday, Dominica’s Prime Minister Roosevelt Skerrit announced that countries within the Organisation of Eastern Caribbean States (OECS) with a CBI program are collaborating to address the concerns raised by these countries.

Skerrit mentioned that Antigua, Dominica, Grenada, St. Lucia, and St Kitts and Nevis have CBI programs and that the EU, in particular, has concerns about these programs.

CEO of CBI Unit, Thomas Anthony, stated that the rebranding is taking place ten years after the start of the program because the unit needs to become more involved in the overall marketing and promotion of Grenada’s migration industry.

A consistent clear message and brand identity are crucial for effective marketing and promotion, which is why the CBI Unit will now be more involved in crafting and managing the Grenada CBI narrative.

The new entity’s tagline is “Unlocking the possibilities,” while the logo will be a derivative of the nutmeg and mace, symbols on the flag and currently one of Grenada’s main exports.

The current brand mark has inherent limitations, which the use of the Coat of Arms does not stand out against competing regional countries.

Therefore, a new brand consisting of a brand mark, logo, and tagline was necessary.