Grenada’s Citizenship by Investment minimum amount to be invested is reduced by a third from USD 350,000 to USD 220,000.
Grenada keen to attract more Investor Migrants
This development is due to attract an ever-increased influx of applicants for the Citizenship Investment Programme of Grenada. It is to be noted that this lower threshold only applies where the investors co-invest in a unit valued at USD 440,000.
Parliament has recently approved amendments to the Citizenship Act that governs the CIP, making it ever more attractive to foreign investors. It expands the definition of dependents to now encompass parents and grandparents (above 55) and dependent children that are academically enrolled in a university (up to 30).
Other amendments include not having to hold Permanent Residency prior to citizenship and not being obliged to acquire CBI units in approved real estate projects.
Read more: A Gateway to the American Dream
Due diligence processes in Grenada
The CIU of Grenada, now led by Thomas Anthony is committed to upholding rigorous due diligence processes, mitigating any risk of irregular activity and protecting its integrity.
Key on their radar of things to monitor closely is the avoidance of unethical practices by developers who do not uphold their commitments to investors to complete a project. The Government of Grenada is committed to clamping down on and investigating any such activities.
The recent amendments make this an ever more attractive citizenship programme. What is unique about the Grenada Citizenship programme is that it is great value for money, not as cost prohibitive as some of its global counterparts, and it facilitates access to the US through the E2 programme. Grenada is a treaty member so eligible to apply for the American E2 investor visa (a non-immigrant visa) and it also has various favourable tax benefits.
