Changes to the Grenada Citizenship by Investment Act

There has been an extensive set of amendments within the last six months to the Grenada Citizenship by Investment Act, 2013. The CBI has seen changes from the cost of the programme to the definition of terms for applicants.

Beginning of changes:

  • September 2018 – Thomas Anthony becomes the new head of CIU Grenada
  • March 2019 – Price drops in the programme from $350,000 to $220,000, following the decision to allow co-investment in real estate; although this meant that there would be strict requirements for individuals.
  • March 2019 – Clarification made as to whom the term ‘dependant’ include and exclude.
  • March 2019 – Announcement that CIP real estate would be made available on secondary market.

Along with the previous changes, the following was published:

  • Applicants will no longer have to obtain permanent residency before having citizenship.
  • The age limit for child dependants has been raised from 26 to 30 years of age.
  • It is no longer a requirement for child dependants to be enrolled in an educational institution.
  • Age restrictions for parents & grandparents to qualify for citizenship have been lifted.
  • Dependant parents & grandparents are not required to live with the main applicant anymore.
  • Any unmarried siblings above the age of 18 years can qualify as dependants of the main applicant, but application can be affected if the siblings have children.
  • A child of the main applicant or their spouse, born within 12 months of the grant of citizenship, will qualify as a dependant of the main applicant.
  • Investment in real estate to keep citizenship has to now be held for at least 5 years from the date of grant of citizenship.
  • If applicants have obtained Grenada Citizenship by making a real estate investment, they can now sell their estate to new citizenship applicants after 5 years of holding the investment.

‘Real Estate’ under the Grenada Citizenship by Investment Act is now defined to include freehold, leasehold, real estate trust certificates, timeshare, etc.

With visa-free travel and the benefit of applying for the E2 visa, Grenada Citizenship by Investment Programme is now one of the most attractive citizenship programmes available to investors.

 

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