Grenada citizenship by investment program is considered gold standard in the caribbean as the scheme is renowned for being the most transparent and rigorous due diligence among the CIP’s. Grenada’s Citizenship by Investment scheme came into effect August 2013, when the Grenadian Parliament passed Act No. 15 of 2013.
The most important 2019 changes made to the Grenada’s citizenship by investment program are
- 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 real estate units in approved real estate projects can acquire citizenship
- Real estate investment reduced to USD 220,000 per share, jointly or co-investing in $440,000 unit.
Grenada government has made it clear that financing option for real estate will not be tolerated.
“We will not permit the sort of sham financings that are plaguing other markets,” said Anthony, CEO of Grenada Citizenship by Investment Unit. He added “promoters of such schemes will be banned, and their projects stopped.”
The recent changes to prices for real estate investment in Grenada now stands at par with St Kitts, Dominica and Antigua
- Grenada – $220,000 per share co-investing in $440,000
- St Kitts and Nevis – $200,000 (resale after 7 years)
- Antigua and Barbuda – $200,000 per share co-investing in $400,000 project
- Dominica – $200,000
- St Lucia – $300,000
With the new CIP changes, Grenada expects increase in applications and investment in property sector. Currently there are 16 approved real estate projects in Grenada for investment
Grenada also has extradition treaties signed with many countries including China, Russia and committed to closer mutual cooperation in criminal matters.
For 2018, Grenada received 97 real estate investment applications for citizenship and the CIU has approved 70 real estate applications each USD 350,000 investment. The Government collected USD 5.1 million in budgetary fees and received USD 49 million investment in approved real estate projects.
Since the launch of the scheme, Grenada has over 2000 investors under the CBI program according to the Ministry of Finance statistics
Minister of foreign affairs, Peter David said, “Grenada has one of the most rigorous due diligence programmes;
Grenada took fourth place in CBI passport rankings 2019 among Europe and Caribbean CBI programs with all the EU countries capturing top three spots.
Grenada passport is one of the most valuable passports in the Caribbean as it has visa free travel to China, Russia, UAE etc..
