How A Ukrainian Tycoon Holding A Grenada Passport Secures An Italian Private Island From 9 Different Owners

Oleksandr Boguslayev has reportedly purchased the Italian island of Gallinara for just over ten million euros.

Certainly, this bold move gained attention starting from all of Europe, rebounding to the Ukraine and across the Caribbean.

If you are wondering who he is…

He’s the son of Vyacheslav Boguslayev, who runs Ukrainian aerospace giant Motor Sich which is one of the largest manufacturers of aircraft and helicopter engines in the world and a Russian aviation supplier.

In the first “Covid-19 summer”, while tourists could only snap pictures from the shore, Boguslayev bought the island from nine Italian owners.

The island, covering eleven hectares, is located 1.5 km off the coast of the Liguria Region, near Albenga. Now with few existing buildings like an ancient monastery, a small church, and a 16th-century turret (built to spot Turks and pirates), it used to be a refuge for saints and popes.

What amazes most of all is the decadent charm of the island. It is a truly isolated place with dense vegetation and a wild mass of trees overlooking rather rough rocky coasts.

Over the past 150 years, it was owned by wealthy bankers and industrialists.

The first private owner in the 1800s was a banker of Imperia, Leonardo Gastaldi, who proclaimed himself “Lord of the Island”.

Several rather fascinating diving spots include a Roman shipwreck lying forty-two meters deep, which contains a treasure: 8000 amphorae.

Curiously, Mr. Boguslayev has planted three flags in the Atlas as a Ukrainian national and a resident of Montecarlo, also with Grenada Citizenship.

A curious fact: How did he obtain a Grenada passport?

Over the last decade, many families have obtained a second citizenship by investing in a country.

Not all Grenadians are public people but, inevitably, families who receive citizenship through investing do well in business.

In the summer, many mega yachts sail from the Mediterranean down to that part of the Caribbean. Last year, yachters arriving in Grenada totaled over 24,000.

They come for the forest scenery and pristine beaches. The population is friendly and welcoming, as all visitors say.

Naguib Sawiris, a well-navigated Egyptian Investor, who already built luxury resorts in Montenegro, UAE, and Egypt, had already opened a hotel in Grenada in 2018 which showcases the longest pool in the Caribbean (300+ ft. long).

That’s not the end of the story. He recently announced a brand new $350 million project to offer 400 to 500 new rooms, opening 1,500 new job opportunities

Noting that the island has just 110,000 inhabitants, in 2019 tourists visiting by cruise ship and air exceeded 500,000 people!

This trend leads to rather unique beachfront investment opportunities in Grenada.

Back in 2013 when the government launched the Citizenship by Investment Act 2013, Act No 15, foreign investors were allowed to obtain citizenship of the island, following the successful example of other countries.

This is the perfect solution for those entrepreneurs who realize that every day their passports decide their good or bad fortune in business results and family accomplishments.

Let’s pause here: this has nothing to deal with immigration. There is no requirement to reside in Grenada or go through interviews or language tests. You have no obligation to visit the country (but we know that once you become a citizen, you’ll plan a vacation in your new country). It’s more like a 100-meter economic run with the top investors in the world joining the same cause: growth of this island nation. 

Obviously, strict due diligence checks are performed to exclude the few unwanted pests who try to get through.   

Because of the importance of tourism, with airlifts from the USA, UK, and Europe, the citizenship program pays even more emphasis on encouraging investments in tourism.

Led by a high-end market, new resorts were built and more are under construction. It’s worth considering not just the traditional tourist area around Grand Anse Beach, but also some other parts of the island.

Why is it called the “Island of Spice?” 

Besides the strong tourism sector, the island’s economy relies on agriculture – production of cocoa, nutmeg and mace crops, for which it is one of the world’s largest exporters.

Another engine of the economy: St. George’s University

Founded in 1977, this private university is renowned for medicine, nursing, veterinary degrees.

It is proud to boast that 1% of the world’s doctors that have graduated from this facility.

In fact over 1,000 students from St. George’s University on an annual basis do their residency in the United States under reciprocal arrangements.

If it wasn’t clear yet, the university is one of the world’s largest American-accredited medical schools.

It is affiliated with many other educational institutions in the UK, USA, Canada, and Australia, attracting students and faculty members from all over the world. 

This community has a unique international flavor with 7000 foreign students coming from 140 countries!

One of the top advantages and differentiators compared to similar citizenship programs is called “E-2 visa” – a relatively unexpansive five-year (renewable) business visa that grants a free pass to live in the US in a matter of a few weeks.

This visa is limited to citizens of selected countries; and if you are a Grenadian, you are lucky enough to have privileged backdoor access to the U.S., skipping all queues and picky immigration categories. Way much faster than the EB-5 visa. Around 40.000 visas of this kind are issued by the U.S. government every single year.

Have you noticed how many dreamers run after a country that doesn’t want them as citizens?

This trend has been in motion for years. But, Grenada Citizenship is not a mirage. 

And you can recognize by far who can potentially hold a Grenada passport. Those investors’ passports talk for them at the airport!

Ask yourself if you see your new passport making, at least, the following improvements over the next twelve months?

          • The comfort of holding a Second Passport! It’s portable; you show it and people nod at you like everything is fine and, even better. Its currency is not tradable. Can we say that it’s a form of credit card? Certainly, it identifies your status and boosts the attention like a sports car leaving the parking: everyone stands up to see who’s driving.
          • Vacations become a family game where you let your fantasies run free – where and when you want to be. Avoid embarrassment because  of the passport you inherited. Let your new passport take you around the world: London, Paris, Venice, Moscow, Shanghai, Hong Kong – over 140 countries with no visa required.
          • You release all tensions and worries about family trips or emergencies and finally earn some peace of min. If your minor children need to travel are you going to leave them with adult strangers holding a European passport? I bet not.
          • I’m sure your wife would love to pin countries of choice in the Atlas. What are you going to say to your wife? That you’ll do it next year? No. But if you’ll take her to new places now, in a way you’ll even become more attractive to her. It will even create jealousy from other women and men around you.
          • Earn Free time for your leisure time: perhaps the best reason of all for having fun. It’s about more parenting time with your children.
          • Like a new sports car, you will impress your friends and family and add more comfort and luxury to your profile
          • If you have a fast-growing business and  want to keep the momentum and scale-up, new tools are required.

Did you list what you’ll be doing with your new citizenship?

Well, you can carry all those stories within the pages of your new passport.

So, would you like to get in on this great investment opportunity?

Would you like to be one of the few privileged who actually own a piece of the finest beach in Grenada?

It’s easy. All you have to do is call +39 02 671 658 179 (Italy). Just leave your email address with our secretary. We’ll send you more information immediately.

We’ve mentioned that the economy of the island is diversified and the citizenship program is significantly important to its economic development. It is a foreign direct investment resource, creating thousands of new jobs.

It’s so important that even during the worldwide lockdown imposed by the Covid-19, officials have confirmed the same flow of demand, or even higher. The files keep coming in and are being processed even faster than before thanks to a prompt government resolution to handle documents online instead of by courier.

So, to become a citizen of Grenada, you either:

– Own qualified real estate as established by the law, from $ 220,000

– Or, donate $ 150,000 to a dedicated Government fund used to develop new social and economic opportunities on the island. This amount varies, depending on family size.

It takes only three months to be approved. In fact, ninety days is normally the timeframe required to pass due diligence checks.

We want no surprises, so this unique adventure is fully and properly planned upfront before onboarding a new client who may not match all requirements.

Once the process starts, most applicants become very relaxed and laid back.

Remember that you can add all your family members.

All previous applicants can assure that they felt in top shape with a newly-printed passport with their names.

As you probably understood, there is an overriding objective to establish Grenada as a leader in the luxury hospitality industry with plenty of 5* hotel run by international and high-end local hotel operators.

If you want to understand the difference between using a new passport and keeping the old one in your pocket, it’s easy.

Call our secretary at

+39 02 671 658 179 (Italy)

…and leave your email address – and make sure it’s spelled properly.

When people can see the front cover of your passport, you will read their minds.

With passport A you feel a sense of disgust being aligned with your country’s fanatical leaders. You certainly don’t feel comfortable labeled that way, do you?

With passport B, people will admire and recognize you as an investor.

Many have taken advantage of this pandemic period to work out a plan to go back into business more competitive than ever and with less apprehension.

In a way, Covid-19 has “withdrawn” all our first passports and made them useless. Some say this is a threat from governments trying to control the population and prevent free travel across borders.

But when you are anxious, you make mistakes. With a second passport, you have another choice to stay in your country of citizenship before the borders are closed and the airline companies reduce their traffic or go elsewhere. It’s your decision, but at least you can choose.

It’s like waiting for bad news to happen when the solution is in front of you.

Again, here’s the number to call

+39 02 671 658 179 (Italy)

Leave your email, it takes less than one minute.

We’ll be glad to show you around; and if you like, you can make an order for you and your family.

If you are already advanced in your citizenship research, we can hang out in a call. Wherever you are, we can leak details not available elsewhere.


You’ll discover how fun is to brush away country borders and gather great stories to tell all your friends.


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