Grenada has received more applications for real estate surpassing donation donation during the fourth quarter of 2019 according to the latest CBI report released by the finance ministry.
This goes on to show the real estate investment is picking up more interest among clients for the citizenship by investment program in Grenada. So far there are 18 approved real estate projects to invest, under the CIP according to the Citizenship Unit of Grenada
During the 4th quarter of 2019, Grenada received 63 CIP applications for real estate than 58 applications for the donation option.
| 2019 | Donation | Real Estate |
| Jan | 13 | 8 |
| Feb | 14 | 13 |
| Mar | 14 | 11 |
| Apr | 10 | 3 |
| May | 17 | 16 |
| Jun | 11 | 11 |
| Jul | 13 | 14 |
| Aug | 22 | 17 |
| Sep | 20 | 25 |
| Oct | 19 | 20 |
| Nov | 21 | 21 |
| Dec | 18 | 22 |
| Total | 192 | 181 |
One other concern is there seems to be more applications refused in the fourth quarter than any other period. Our of 121 applications received, 27 applications have been refused in this period, highest of the year, most of these submitted from real estate.
| Rejected | NTF | Real Estate |
| Jan | 0 | 0 |
| Feb | 0 | 0 |
| Mar | 3 | 0 |
| Apr | 0 | 0 |
| May | 8 | 2 |
| Jun | 2 | 1 |
| Jul | 0 | 0 |
| Aug | 0 | 0 |
| Sep | 4 | 0 |
| Oct | 3 | 7 |
| Nov | 9 | 5 |
| Dec | 0 | 3 |
| Total | 29 | 18 |
Finally, more passports were issued to new citizens through real estate during the fourth quarter of 2019 than any other period. Â In 2019, Grenada granted citizenship/passports to a total of 1,364 new economic citizens.
| 2019 | Donation | Real estate |
| Q1 | 184 | 143 |
| Q2 | 123 | 100 |
| Q3 | 291 | 148 |
| Q4 | 146 | 229 |
| Total | 744 | 620 |
Grenada remains one of the popular caribbean passport by investment schemes. The real estate investments in Grenada funded by CBI, create more economic opportunities for Grenada such as local jobs, new hotels to meet tourism demand, jobs for locals.
Grenada has received a total of $144 million in real estate investments through approved CBI projects
| 2019 | RE Investment (millions) |
| Q1 | 8.9 |
| Q2 | 30.5 |
| Q3 | 31.8 |
| Q4 | 73 |
| Total | 144.2 |
Source: Finance Grenada
The CBI report shows revenues generated by passport scheme, were used mainly for capital projects and arrear financing. So far Grenada has spent more than $22 million in capital projects in 2019 alone.
Not long ago, we rated Grenada as the N0.1 citizenship by investment program in terms of price, passport benefits, access to E-2 US investor visa and its close relations with China.
