Chris De Allie Explains The Reason Behind His Resignation As Chairman Of The CBI Program

PR – “I wish to affirm that my resignation as Chairman of the Board of Directors for Grenada’s Citizenship by Investment Unit, was based purely on personal reasons.

The impact of the COVID-19 has brought increasing pressure to bear on all economic sectors. Effectively maneuvering the current landscape in which we operate requires a lot more attentiveness than normally obtains, particularly in an extremely fragile sector that requires a sustained level of confidence.

The global uncertainty that exists, creates a similarly tenuous position for Citizenship by Investment Programmes around the world, requiring even more astute and hands-on management to ensure that they continue to meet the desired objectives of Government while continuing to woo more and more applicants in an increasingly competitive market. That reality is no less different here in Grenada.

I remain fully confident in the integrity of Grenada’s CBI Programme. I am no less enthused about the programme now, than I was when I assumed chairmanship of the board two years ago. I can say that during my tenure, there was significant achievement with respect to streamlining the process and reducing the processing time while at the same time, maintaining rigorous due diligence practices.

I honestly think Grenada’s CBI Programme is well-poised for rapid growth and expansion. At a time when there has been significant price under-cutting, we have maintained our price-point and we continue to see an increasing number of applications. That by itself, is indicative of absolute confidence in Grenada’s product, something I remain honoured to have been associated with. My commitment will be no less different over the next few weeks as we transition to a new Chairman. I have no doubt the programme will continue to grow from strength to strength, maintaining its attractiveness among a field of global competitors.

With respect to my future, I can assure you that I remain a patriotic Grenadian and one who remains committed to service at the highest levels and to making a significant contribution to the development of this country. The mutually respectful relationship between myself and the Government of the day, remains intact and I will continue serving as the Business representative in the Senate and as a member of the Public Accounts Committee.”