Minimum investment threshold increases to USD$235000 for Grenada CBI

Grenada: The minimum investment threshold for Grenada Citizenship by Investment Programme is all set to increase to USD$235,000 from July 1, 2024, as outlined in the recently signed MOA by the government. With this initiative, the Investment Migration Agency of Grenada aims to enhance transparency and accountability of the programme.

This new price structure will be implemented in alignment with standardized rates across the OECS for Citizenship by Investment Programme. These revised structures have also been announced with a vision to address all the price-related challenges and ensure the authenticity of the program.

As per the Grenada Citizenship by Investment Regulations, 2024, the amended pricing for the single applicant or a family of up to 4 will amount to US$235,000 under the National Transformation Fund. The cost for the Additional dependents under this option amounted to US$25,000/$50,000 and US$75,000 for the siblings respectively.

The revised pricing for the single applicant or a family of up to 4 will cost to US$270,000 under the Approved Project Investment under Section 11. The Government Contribution amounted to US$50,000 and the cost for additional dependents and siblings under this option equals to US$25,000/$50,000 and US$75,000 respectively.

This revised pricing regime avoids all kinds of doubts and ensures uniformity and marking the end of an era of downward spiral price competition among each other.

Also, the NTF contribution of $235,000 comprises an allocation of up to $35,000 to be paid as commission to the agents and a minimum of $200,000 to be retained by the administration. On the other hand, the Approved Project Investment of $270,000 which is to be paid to Developer’s Escrow Account comprises of a minimum of $230,000 to be used towards construction cost of the project and an allocation of a maximum of $40,000 to be utilized for commission payment to Agents.

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Moreover, IMA Grenada aims to avoid any occurrence of doubts or conflicts and for the same, and stated that the entire investment amount of $270,000 must be deposited to the Escrow Account of the Developer. Also, the agency will not authorize disbursements from the Escrow Account of over $40,000 for Agent commission.

The CEO of the Investment Migration Agency Grenada, Thomas Anthony, expressed excitement about the changes and stated that this groundbreaking ceremony between the five governments points to an end to the race-to-the-bottom era, which is far too long. He further noted that this agreement sets the foundation which is crucial for harmonization across all Citizenship by Investment Programmes in the region.

Thomas Anthony also added that they will continue to make efforts for strengthening Grenada’s and the region’s governance infrastructure. He stated that these efforts are very crucial in order to ensure the longevity of the programmes and continuous appeal to global investors will play a huge role in maintaining high standards of integrity and due diligence.

With this agreement, the agency aims to look forward to improved their relations among neighbouring member states and enhance their future collaborations among all programmes.