Grenada reduces required investment for Citizenship-by-Investment Programme
22 March 2019
The Grenada Citizenship-by-Investment (CBI) Unit announced changes to their programme to further enhance its competitiveness in the region.
Specially, the Government of Grenada amended the regulations under the Citizenship by Investment Act No. 15 of 2013 which will provide a new price option for real estate investments in Approved Projects in the Tourism Accommodation sector.
The amendment will allow developers to sell each unit to two or more applicants with each applicant investing a minimum of USD $220,000. The CBI Unit will accept applications under this new price option as of April 1st, 2019.
Required investment unchanged for full property ownership
Investments that are not in the Tourism Accommodation sector, or for those investors who prefer to achieve full ownership of a unit, the minimum purchase price remains at the original USD $350,000 investment level.
For both options the usual government contribution of USD $50,000 remains.
These changes will closer align the minimum investment level with those found in other Caribbean countries offering CBI programmes such as Antigua & Barbuda, Dominica and St. Kitts & Nevis thus ensuring a more harmonised pricing structure in the region.
Unique benefits of Grenada's Citizenship-by-Investment Programme
Grenada does enjoy a number of competitive advantages over its CBI neighbours:
- Passport holders enjoy visa-free travel to over 140 countries including China – the only Caribbean CBI programme with such access.
- Grenada is the only one that is a treaty country with the US that allows citizens to be eligible to apply for the non-immigrant E2 visa. This is on the basis they will be investing a substantial amount of capital in a US business.
- It allows for more family members to be included on an application, such as parents, grandparents, siblings and children under the age of thirty who do not need to be enrolled in post-secondary school.
For more information, view our Grenada solution page or contact Jon Green (jon.green@latitudeworld.com).