On 17th May 2019, the Grenada Government announced the Citizenship By Investment (CBI) Amendment Act 3 of 2019. It stipulates that the following dependents are eligible to be included in the application: Parents under the age of 55, unmarried siblings over 18 and Children under the age of 30. The applied to parents, siblings and children of the Main applicant or Spouse. In addition children born of the main applicant or his/her spouse up to 12 months after the granting of citizenship.
For parents under 55 there is an additional contribution fee of $50,000 each and for siblings the additional fee would be $75,000 each.
The new legislation stipulates that real estate purchased for CBI purchases can be resold after 5 years, an increase from the original time frame of 3 years. However the real estate can again be purchased for Citizenship by Investment purposes.
For further guidance on the Citizenship By Investment program in Grenada please do not hesitate to contact us Direct.