Amendments to Grenada’s Citizenship by Investment Program
Grenada is a well-known tropical destination, and its one of the booming citizenship by investment jurisdictions in the Caribbean islands .Citizenship of Grenada can be obtained through a one-time donation to the National Transformation Fund or real estate investment.
The Government of Granada has announced changes to their Citizenship by Investment Program to make it more attractive to families.
1. Grenada Cuts Price for Citizenship
The chair of Grenada’s Citizenship by Investment Committee, "Kaisha Ince", announced that the Grenada citizenship by investment program (CIP) will see some significant changes before the end of the year. A decision has been taken to differentiate individual applicants from family applicants under the National Transformation Fund donation option by introducing a category for individual applicants at a contribution of US$150,000
This change will come into effect once the corresponding regulation under the Citizenship by Investment Act No.15 of 2013 is gazetted. This is expected to be put in place before the end of the year.
This change is only with respect to the National Transformation Fund donation
option. All other contributions and fees remain unchanged.
2. Older Dependent Children Now Eligible for Inclusion in Grenada Citizenship by Investment Application
The Grenada Citizenship by Investment Committee has further announced that dependent children may be aged up to 30 years old and are no longer required to be enrolled in school. Previously, only children under the age of 26 who were currently enrolled in school qualified as dependents.
The definition of dependents has been updated to include children of the main applicant or his or her spouse who is between the ages of 18 and 30 and otherwise dependent on the main applicant or his or her spouse.
The change in dependent age puts the Grenada program in line with the age limits of the St Kitts and Nevis , Antigua and Barbuda as well as Dominica programs.
3. Grenada Removes Contribution Requirement For Parents and lowers the minimum age of dependent parents from 65 years to 55 years.
Dependent parents above the age of 55, will no longer be required to pay the additional contribution of US $50,000 to qualify. The program regulations had previously only waived the additional contribution requirement for aged dependents over 65.
4. Grenada and the UAE Sign Memorandum for Visa-Free Travel
The UAE and Grenada have signed a memorandum of understanding (MoU) to exempt Emirati and Grenadian nationals carrying ordinary passports from obtaining pre-entry visas.
The MoU was signed by Ambassadors and Permanent Representatives to the UN, Lana Nussaibeh of the UAE and Keshia A. McGuire of Grenada. The MoU come into effect 30 days after the date of its formal signing.
The Grenadian ambassador expressed her country’s keenness to enhance bilateral relations with the UAE. She said that the government of Grenada attaches particular importance to the UAE-Grenada relationship given the distinguished position of the UAE in international arenas.
Having a Grenadian citizenship also carries many other benefits, including ease of setting up and doing business in the country, entry to the UK, China and Schengen countries in Europe and, by way of its E2 visa treaty with the USA, business-linked residency opportunities in the USA.
The Grenada program continues to be one of the most sought after for business people as it is the only program to offer visa-free access to China and .
5. Grenada Affirms Unified Caribbean Rejection Policy
In a significant move that perhaps reflects a commitment to common vetting and information sharing practices among the Caribbean CIP-countries – laudable goals long hailed as necessary but which have proven slow to materialize – Grenada also announces that any applicant who has been denied Citizenship by Investment in another Caribbean jurisdiction will not be approved for permanent residence or citizenship under the Grenada CBI Program.
6. Child Born Within 12 Months of Filing the Citizenship Application
A child born to the main applicant within 12 months of filing the original application can now also be included in the same application upon applying to the Citizenship Investment Unit committee within 6 months of the birth of the child, and paying a fee of $5,100.
For most, obtaining a second citizenship and passport in Granada provides more than enough benefits for successful applicants and their family: greater travel freedom, tax incentives, and citizenship can be maintained without ever residing in the country. But for some, access to the U.S. through the E-2 Investor Visa can be a deciding factor when applying to Grenada’s Citizenship by Investment Program since Grenada citizenship (passport) gives backdoor access to the U.S. under the E-2 Investor Treaty Visa.
For more information about Grenada’s Citizenship by Investment Program, please click here.
To compare St Kitts vs. Antigua vs. Grenada vs. St Lucia vs. Dominica , please click here .
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