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Grenada citizenship through investment program is regarded a gold standard in the Caribbean as the system is known as the most transparent and strict due diligence among the CIPs. Recently the Investment Program for Grenada Citizenship has been revised under Act No. 3 of 2019 from 1 April 2019. The CBI has seen changes from the cost to terms of applicants for the program from the past six months.
Beginning of changes:
- September 2018 – Thomas Anthony becomes the new head of CIU Grenada
- March 2019 – Price falls in the program from $350,000 to $220,000 following the option to allow co-investment in real estate; though this implied rigid individual criteria.
- March 2019 – Clarification as to who is included and excluded by the word ‘ dependent. ‘
- March 2019 – Announcement that CIP real estate would be made available on secondary market.
Other noticeable changes includes:
- Before applying for citizenship, applicants will no longer have to acquire permanent residency.
- The increase in the age for children of the main applicant from 26 to 30 years old.
- Children are no longer required to be enrolled in an educational institution.
- Age constraints have been removed for relatives and grandparents to be eligible for citizenship.
- Dependent relatives and grandparents are no longer needed to reside with the principal applicant.
- The primary applicant’s siblings (and the primary applicant’s wife) who are not married and have no kids may be included as the primary applicant’s dependents
- Citizenship now applies to children of the primary candidate born within 12 months of permission.
- Investment in real estate property in order to maintain citizenship must now take place for at least five years from the date of citizenship.
- Also the applicants who wish to sell their property after obtaining the Grenada Citizenship can now sell it after 5 years of holding the investment.
According to the Grenada Citizenship by Investment Act, ‘ Real Estate ‘ now includes freehold, leasehold, certificates of real estate confidence, time sharing, etc.
Grenada Citizenship by Investment Program is now one of the most appealing citizenship programs accessible to shareholders with visa-free travel and the advantage of registering for an E2 visa.
For more details on Grenada citizenship by investment contact us directly at
+971 4 221 2602 / [email protected]