The Government of Grenada announced today, taking steps to make its Citizenship by Investment (CBI) Programme more attractive to investors by offering a greater range of benefits including various changes to the scheme

Prime Minister and Minister of Finance, Dr. the Right Honourable Keith Mitchell while supporting the citizenship amendment bill underscored the importance of the CBI Programme but also affirmed that Grenada will not compromise on security

Dr. Mitchell said, “Grenada is not dependent on CBI, therefore we do not have to compromise on security to maintain our programme. It is important that we stay competitive but at the same time, we must maintain the integrity of the programme. Any action by one country that compromises security can have serious consequences for the entire region, therefore we must all be mindful of that.”

Minister of Foreign Affairs, Honorable Peter David who also stood in support of the amendments, said the CBI programme must be continuously reviewed to ensure that it remains competitive.

He said, “Grenada has one of the most rigorous due diligence programmes; there are checks conducted electronically and there are also persons on the ground who would knock on the doors of applicants to verify the accuracy of what is stated on applications. We know the importance of the CBI Programme to the country and we must maintain its integrity.

Grenada offers two options under its Citizenship by Investment Program. One option requires a contribution to the National Transformation Fund while the other provides for a real estate investment and a smaller contribution to the fund.

Grenada CBI Amendments 2019

Minister for Trade, Industry, Cooperatives and CARICOM Affairs, Honourable Oliver Joseph on Friday presented a bill in the House of Representatives for the Grenada Citizenship by Investment (Amendment) Act 2019.

“The Amendment Bill has been debated in the lower house and will soon be implemented. An official circular will be published by the CIU Unit this week with more details including start date”, said CEO of Grenada CIU.

Minister Joseph said, “You would note that there is no amendment that reduces prices. We must have a programme that offers attractive benefits, without having to reduce the price.”

Under the new amendments of bill

• Removal of permanent residence as a pre-requisite for citizenship
• Remove the requirements for dependent children between the ages of 18 and 30 to be enrolled at an institution of higher learning and
• Parents or grandparents over 55 years to be fully supported.
• Secondary purchasers of CBI units in approved projects to acquire citizenship

The official press release is available here: https://drive.wps.com/d/AAUbtlPawOckgYCAreCzEg