There have been recent changes to the Statutory Rules and Orders in relation to the Grenada Citizenship by Investment Regulations. The investment opportunity in real estate, for many investors is now more available than it has been for the last couple of years. The programme’s minimum investment has dramatically decreased from $350,000 to $220,000; this will be effective from 1 April 2019.

With the payment of $220,000, investors become a co-owner of a single real estate unit with another applicant. They will each put in $220,000 along with a government contribution of $50,000 each. Both applicants will receive a legal document evidencing ownership as well as an equal share of any revenue generated from the real estate unit.

Further to those amendments, the classification of dependents will be open to include the applicant’s adult siblings as well as their grandparents. The Investors would also be allowed to re-sell their properties and they will not be obliged to meet the requirement for permanent residence. These changes will function for the betterment of the Citizenship by Investment Programme of Grenada.

It is expected that approved projects, will announce new product offerings within the next two weeks to take advantage of the new price.