Moving to Grenada: Changes in the Grenada CBI Program

If you have been planning to move to Grenada, a beautiful island nation in the Caribbean, it's time to accelerate your application process, because the conditions for investors will become more stringent in the coming months. A memorandum on the new conditions for obtaining a second Caribbean passport has already been signed. Next, let's discuss what exactly has changed and why and make some comparisons.

Overview of Grenada CBIP: Who Can Access it?

The country's government offers international investors the opportunity to participate in the migration program, available to adult citizens with an impeccable reputation and certain capital. You can check the full list of requirements with the professionals of a specialized agency, which will help you in preparing a package of documents.

To obtain Grenada second citizenship, an applicant should buy local real estate for the amount of 350,000 USD or invest in NTF for 150,000 USD or more. Then, obtaining citizenship within six months, and sometimes earlier, is possible. After 5 years, the investor usually returns his financial investment in real estate. What makes the Grenada second passport by investment so valuable? According to Immigrant Invest specialist Zlata Erlach, Grenada is the only country whose passport allows you to obtain an American E-2 visa. Also, it allows you to enter China without a visa.

Recent Changes to the Minimum Investment Requirements

Today, everyone discusses the news that the Caribbean countries have signed a Memorandum on increasing the amount of cash investments. Previously, the minimum contribution to a country's economy was 100,000 USD. The Memorandum comes into force on June 30, 2024. Dominica, Grenada, and Antigua increased the minimum investment from this date. St. Kitts and Nevis already raised the threshold to 250,000 USD last year. However, St. Lucia has chosen to stay on the sidelines and intends to maintain the current minimum investment of 100,000 USD. It may cause an increased influx of applications to this Caribbean state, which is disadvantageous to other participants.

The countries signed the above Memorandum to eliminate "under-selling", to share information on applicants within the investment program, and to introduce increased transparency of all financial receipts. There are also plans to establish common standards for managing CBIP communication and promotion and regulating agents working in CBIP. If we take Grenada into account, then according to its program, investment threshold will rise to $200,000 by June 30th, 2024. However, potential applicants still have time to apply under the current conditions and may receive a second passport before the end of July 2024.

Reasons Behind the Increase in Investment Requirements

However, you may wonder why several Caribbean countries have initiated an increase in the investment amount at once. There are reasons for this:

• a desire to increase the flow of applications before the appointed date;
• harmonization of the pricing structure;
• raising the standards of existing programs;
• attracting highly qualified investors who are ready to invest in the Caribbean economies.

The participants who signed the Memorandum are forward-looking and determined to do their best to ensure that the financial contributions to the island economies are significant and regular and that the impact on the global economy is higher.

Benefits of Grenada Citizenship Despite Higher Costs that you will certainly appreciate

Some of the advantage of obtaining a Grenada passport for international investors include the following:

• you can stay in the country for as long as you want;
• you can keep your native citizenship;
• eligibility for an E-2 U.S. visa;
• the possibility of registering a business in the country;
• exemption from paying taxes in Grenada;
• ability to open accounts in Caribbean banks;
• visa-free travel for Grenada passport holders to 148 countries;
• no requirements for knowledge of the national language;
• authorization to execute documents remotely without the need to visit the state;
• transfer of Grenada citizenship by investment by inheritance.

The applicant can also complete the appropriate documents and relocate their family to the Caribbean.

Bottom Line and Conclusions

Investors applying for a Grenada passport are ready to participate in the Grenada CBI program: minimal investment increase, but they should remember that they cannot apply independently. They need an intermediary to do so. A reputable immigration agency will be just such an intermediary and helper, which provides detailed consultations and legal advice and will help obtain a second passport of the Caribbean state. This issue is covered in more detail at immigrantinvest.com. So, you can always turn to the experts and get the desired document without delay. There are always several solutions and you can choose the best option.

The assistance of specialists in preparing the necessary documents is the key to quickly and successfully resolving all issues.

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ABOUTME

We overland. We eat plants and fungi. We live outside as much as possible. We are all connected. A female travel blogger overlanding and writing about ecotourism, ethical and sustainable travel, socially conscious travel and housesitting. An online travel magazine since 2015.