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The Recent Amendments to Grenada’s CBI Program

The Recent Amendments to Grenada’s CBI Program

Protecting Your Interests, Business, Property & Rights

Earlier there were a lot of restrictions on applicants and their spouse in terms of acquiring second passport via Grenada’s CBI program. Those applicants who were unsuccessful before can be delighted by the recent amendments to citizenship program initiated by the government of Grenada.

Located close to the eastern front of the Carib Sea, Grenada is a small country made up of several smaller islands. The country first launched its CBI/CIP scheme in 2013 to attract foreign investment. In return, investors and their families, could gain citizenship and passport from a country that rendered visa-free entry 143 countries. Citizenship hopefuls can either apply by themselves or along with their spouse and family.

There are two investment options by which an applicant can gain citizenship from the country. They can either donate to a government authorized fund or opt to invest in real estate within the country. While the basic concept of the program remains the same, certain amendments were recently made to the program by the government of Grenada. Listed below are some of its key highlights:

    • Henceforth the dependent’s children don’t have to be enrolled in an educational institution.
    • Previously the dependent’s child had to be under the age of 26 and enrolled in a school.
    • The age restrictions for qualifying as parents/grandparents have been taken off.
    • Earlier parents had to be 65 years or older. Now they have lowered it down to 55 years and above.
    • It’s not mandatory for parents/grandparents to live with the investor.
    • They are were required to be financially independent.
    • Applicants can retain citizenship for five years following naturalization.
    • Previously investment couldn’t be maintained post naturalization.
    • Real estate investments can now be sold to new citizenship by investment applicants.
    • Secondary buyers of real estate units can gain citizenship. However, a minimum investment has to be paid for this venture.
    • Unmarried siblings of the investor (or their spouse) are now eligible for citizenship.
    • No Caribbean CBI program offers this feature.
    • Children who are less than 12 months old, can now apply for citizenship through their investment program.
    • Children born within 12 months of approval can also apply for citizenship.

Benefits of Grenada’s CBI Program

Reside and Work in Grenada

With the dual citizenship, you get to own property, reside and start your own business in the country.

No Interviews

Unlike most countries that take your interview before providing you a visa, you are not required to have one here.

No Mandatory Language Requirements

You don’t have to know the language to be a citizen of the country.

Limited Taxes

Enjoy the benefit of this tax-free country; there is no tax on foreign income or capital gains.

Complete Privacy on Application Process

Your application is safe with us. No one has access to it besides authorized officials and us.

Conclusion

Obtaining dual citizenship / second passport via investment is beneficial for the applicant and their family. You have the freedom of traveling to most countries and live and work in Grenada. Starting a business here is also lucrative, as you are free from paying any form of taxes and completely reap the benefit of your hard work.