The Investment Migration Agency Grenada (“CBI Unit”) will implement a Delinquency Policy for CBI applications effective October 1st, 2024 to maintain the highest standards of financial management and to ensure the smooth operation of our investment migration services.
This policy is designed to address issues related to the timely payment of investment sums, annual license and administrative fees, thereby establishing clear deadlines and procedures to minimize delays, promote fairness by standardizing how late-payments are handled, and to mitigate financial risk through outlined consequences for non-payment.
Below are the new rules apply citizenship applications received under investment program.
- Payment Due Dates: All investment sums are due on or before the specified deadlines outlined in the approval letters. Timely payments are crucial for the seamless processing of investment applications.
- Grace Period: A grace period of 30 to 60 days will be granted after the due date. No
penalties will be imposed during this period, but we encourage prompt payment to
avoid complications and/or delays. - Late Fees: Where payment is not received within the grace period, the Local Agent will receive a past due letter indicating that the outstanding National Transformation Fund contribution, Project Investment or Government Contribution is within the 61-90 days past due category and must be paid no later than the 90th day beyond the due date of approval.
- Suspension of Services: Payments that are overdue by 91+ days will be deemed void, requiring the applicant to submit a new application.
Please contact us for more information.