The new Grenada government has made some changes to improve its citizenship by investment (CBI) program. According to the Grenada Citizenship by Investment Unit, some of the changes include:

Introducing mandatory interviews for applicants 17 years and above, effective September 1, 2023. This is part of the enhanced due diligence process to ensure the quality and integrity of the program.
Adopting paperless processing of CBI applications, effective June 1, 2023. This is to streamline the application process and reduce the environmental impact of paper usage.

Expanding the list of approved projects (real estate) for CBI investment, such as luxury hotels, resorts, and villas. This is to attract more investors and boost the tourism sector of the country.

These changes are expected to make the Grenada CBI program more competitive and attractive in the Caribbean region. Grenada offers many benefits for its citizens, such as visa-free access to over 140 countries, dual citizenship, tax advantages, and generational citizenship.

The cost of Grenada’s CBI program depends on the type of investment you choose. There are two main options:

A contribution to the National Transformation Fund (NTF), which is a fund that supports the development of Grenada’s infrastructure, economy, and society. The minimum contribution for a single applicant is USD 150,000. For a family of four, the minimum contribution is USD 200,000.

An investment in an approved project (real estate), which is a property development that meets the criteria of the CBI program. The minimum investment for a single applicant or a family of four is USD 220,000 for a share of a hotel or resort. For fractional or full ownership of non-hotel properties, the minimum investment is USD 350,000 or more.

In addition to the investment amount, there are also other fees involved in the application process, such as application fee, processing fee, due diligence fee, and professional fees. These fees vary depending on the number and age of the applicants and the type of investment. You can find more details about the fees on the official website of the Grenada Citizenship by Investment Unit.

The Citizen By Investment program was hit by scandals under the previous Keith Mitchell government, with the ambassador Warren Newfield incident putting the entire program in jeopardy. Since the election of the Dickon Mitchell led government there has been no major scandal with the program.

By T.L. Neckles