Grenada’s Citizenship by Investment scheme came into effect August 2013, when the Grenadian Parliament passed Act No. 15 of 2013. Since the launch of the scheme, Grenada has granted passports to over 3000 families under the CBI program according to the Ministry of Finance statistics
According to the statistics, since the start of the CBI until Dec 2019, Grenada has granted citizenship to 3,384 persons who invested in Grenada under CBI. These CBI citizens form 3.1% of Grenada’s diaspora population living outside the country by the end of 2019..
It is also the first time, real estate has generated significant interest among clients. Also, the number of applications filed for real estate surpassed donation option by the end of 2019 after the minimum real estate required has been reduced in 2019.
Under the Citizenship by investment scheme, Grenada requires one off contribution to Government fund of USD 150,000 or an investment USD 350,000 in real estate projects.
Grenada requires minimum USD 200,000 investment for passports and this can be invested in hotels, resorts and any other projects. A five star six senses hotel is currently under construction in Grenada scheduled for completion in 2021. So far there are 18 approved real estate projects to invest, under the CIP according to the Citizenship Unit of Grenada.
The Grenada Citizenship By Investment (AMENDMENT) (NO. 3) Regulations, 2019 reduced the minimum investment in approved real estate projects to USD 220,000 if two or more individuals invested in shares of total value $440,000 or more.
Grenada has best Caribbean CBI passport with access to the whole of europe, latin america, asia and east africa.
Grenada has special interest since it offers visa free to Russia, UAE and China the 3 countries that the 85% of all CBI clientele is located. A passport with recognizability and a tourist destination with direct air access to major airports of the world.
Grenada passport was ranked No. 1 in the Caribbean region in Best Citizenships CBI Passport Rankings for 2019