Grenada Citizenship by Investment announced changes to its programme. This further enhances its competitiveness in the Caribbean 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 US$220,000. Grenada will accept applications under this new price option as of April 1st, 2019.
Investments that are not in the tourism accommodation sector, or for those investors who prefer to achieve full ownership of a unit, remain at the original US$350,000 level.
For both options, the usual government contribution of USD $50,000 continues to apply.
These changes will closer align the minimum investment level with those found in other Caribbean countries offering CBI programmes such as Antigua and Barbuda, Dominica, and St. Kitts and Nevis. This ensures a more harmonized pricing structure in the region.
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.