Grenada Finance ministry has published 2019 statistics report for the citizenship by investment program (CIP).
According to the newly published report, a total of 73 applications received, of which 41 for NTF donation and 32 applications under real estate investment option as of Q1 2019. For the previous quarter at the end of 2018, Grenada received only 24 real estate applications.
There has been a surge in real estate applications from Feb 2019, new data reveals. The increase in applications for real estate attributes to Grenada making significant changes to CBI program including cutting the investment required for real estate to $220,000 for a share in hotels in tourism related projects. The CBI amendments was Gazetted and published in March 2019
A total of 184 people became new CBI citizens under the Grenada citizenship by investment scheme.
For 2019, there were no real estate applications refused by the Citizenship Investment Unit (CIU). Three applications under donation route have been refused.
Grenada has one of the exciting and best citizenship schemes in the Caribbean. A new study on CBI/CIP schemes, rated Grenada as the second best only behind Malta, for its pricing and citizenship benefits.
These were some of the important changes implemented in 2019 under the CBI scheme.
- Remove the requirements for dependent children between the ages of 18 and 30 to be enrolled at an institution of higher learning and
- Parents or grandparents over 55 years to be fully supported.
- Secondary purchasers of CBI real estate units in approved real estate projects can acquire citizenship
- Real estate investment reduced to USD 220,000 per share, jointly or co-investing in $440,000 unit.
Grenada government in 2019 has strengthened CBI scheme under real estate route. The Government had made it clear that financing option for real estate will not be tolerated.
Property owners can also acquire permanent residence card, along citizenship and passport.
Grenada currently does not publish names of CBI citizens to public or in Gazette . The Minister may however published names of licensed agents, marketing agents, including any notice of any revocation of any licence or permanent residency or citizenship status specified in the CBI Act 2013.
CBI citizens are also given equal rights with Grenadian citizens to participate in a poll general or by-election including holding of offices.
