Recent Improvements to Grenada’s Citizenship by Investment Program
February 12th 2019
Citizenship of Grenada can be obtained through a one-time donation to the National Transformation Fund or through an investment in an Approved Project, like the purchase of a condominium unit at the Kimpton Kawana Bay Resort. For more information on Kimpton Kawana Bay, please visit our Real Estate section.
Recently, Grenada's Government has announced positive changes to its Citizenship by Investment (CBI) Program, mainly to expand the categories of “dependents”. The most important improvements to the Grenada’s CBI program are listed below:
- Older Dependent Children Now Eligible for Inclusion
A significant recent change made to Grenada’s CBI program is the ability to include dependent children aged up to 29 years old as part of a CBI application. In addition, the requirement that a dependent child be enrolled in school has been removed. Previously, only children under the age of 26 who were enrolled in school qualified as dependents.
- Minimum Age of Dependent Parents Lowered from 65 Years to 55 Years
The minimum age of dependent parents has been revised down and a CBI application can now include dependent parents above the age of 55. Previously, dependent parents had to be aged 65 or older. In addition, dependent parents are no longer required to be financially dependent on the main CBI applicant.
- Siblings Now Eligible for Inclusion
Siblings of the main applicant (and the spouse of the main applicant) who are not married and do not have any children may now be included as part of a CBI application. This new feature of the Grenada CBI program is something that does not exist as part of any other Caribbean CBI program.
- Children Born within 12 Months Eligible for Inclusion
Children born to the main applicant within 12 months of filing of the original CBI application can now also be included in the same application upon applying to the CBI committee within 6 months of the birth of the child and paying the requisite fee.
- Secondary Purchasers of Approved Real Estate Now Eligible for Citizenship
Secondary purchasers of real estate units in Approved Real Estate Projects are now eligible to obtain citizenship. In order to do so, a secondary purchaser will be required to pay at least the minimum investment amount of US$350,000 for the real estate and pay the required government contribution. This exciting new feature of the Grenada CBI program helps ensure that after only 3 years a purchaser of approved real estate can recoup their investment should they wish to sell given the added benefit of citizenship for a secondary purchaser.
Obtaining Grenadian citizenship through CBI provides many benefits for successful applicants and their families, including greater travel freedom, the right to live and work in Grenada and in other Caribbean nations, and the ability to reside in the U.S. through the E-2 Investor Treaty that Grenada maintains with the U.S.