Changes in the Grenada Citizenship-by-Investment Program
On 17 May 2019, new conditions of the Grenada Citizenship-by-Investment Program were published. The list of relatives eligible for inclusion into the citizenship application was expanded, the rules of real estate holding changed, and the resale of property to other participants of the program was approved.
It is now possible to include the following additional persons in the citizenship application:
- Dependent children of the main applicant or their spouse between the ages of 18–30
- Financially dependent parents and grandparents of the main applicant and/or their spouse above the age of 55
- Financially dependent parents and grandparents of the main applicant and/or their spouse above the age of 55. In this case, an additional payment of USD 50,000 for every dependent person is required.
- Siblings of the main applicant and/or their spouse above the age of 18, unmarried and without children. The cost of participation of these family members in the program is USD 75,000 per applicant.
- Children of the main applicant born within twelve months of the granting of citizenship
Another important change is that investments in property are to be hold for five years (previously three years).
Furthermore, it is now possible to resell approved real estate to other investors who want to participate in the program. This means that five years after an investor is granted citizenship, they will be allowed to sell the property to another person interested in a Grenadian passport. The minimum investment amount in real estate is USD 350,000.
Since 1 April 2019, Grenada has offered a new option of investment in property. Two or more applicants can contribute at least USD 220,000 per person in an approved project in the sector of tourist housing.
Along with real estate investments, Grenadian citizenship can be obtained by a non-refundable donation of USD 150,000 to the National Transformation Fund of Grenada.
Grenadian citizens can enjoy visa-free or visa-on-arrival travel to 143 destinations, including Brazil, the UK, Europe’s Schengen Area, and other key destinations for business and tourism. Grenada is the only Caribbean country with a citizenship-by-investment program that holds an E-2 Investor Visa treaty with the USA, allowing citizens to be eligible to apply to the USA for a non-immigrant investor visa. It is also the only investment migration program in the Caribbean that offers successful candidates visa-free access to China.