GRENADA CITIZENSHIP BY INVESTMENTPROGRAM
Recently, the Government of Grenada passed a law which created the Citizenship by Investment Program (“CBI Program”). The CBI Program enables persons and their dependents to acquire Permanent Residence and Citizenship of Grenada by making appropriate investments in Grenada.
We at Afi Ventour & Co. are here to guide you and provide you with legal assistance - through the entire process.
Learn more about what countries you can access visa free with the CBI Program >>
Learn more about the benefits of the Citizenship by Investment Program here >>
The following are important definitions related to the CBI Program:
- Parents or grandparents of the main applicant or his or her spouse above the age of 65 years old living with and fully supported by the main applicant.
- A child of the main applicant who is at least 18 years old who is physically challenged or mentally challenged, and who is living with and fully supported by the main applicant;
- A child of the main applicant who is at least 18 years old but under 26 years old who is in full time attendance at a recognized institution of higher learning and fully supported by the main applicant;
- a child of the main applicant or his or her spouse who is less than 18 years old;
- a spouse of the main applicant;
(b) “Investment” means:
- A payment towards an Approved Project in Grenada which has been so determined by the relevant minister who establishes the minimum amounts to be paid.
- A payment into a National Transformation Fund which is a special fund established for the purpose of funding government sponsored projects including public-private partnerships. Payment must be made through a Local Agent of an amount determined by Regulations.
(c) “Local agent” is an individual who has been granted a Local Agent’s licence by the relevant minister and is authorized to act on behalf of applicants.
An application for Citizenship by Investment or for Permanent Residence by Investment may only be submitted by/through a Local Agent.
An application will only be considered after all monies (fees and investments) have been placed in an irrevocable escrow account controlled and managed by a Local Agent.
A specially established Citizenship by Investment Committee is responsible for processing and considering applications for Citizenship by Investment or for Permanent Residence by Investment.
Decisions and further actions
A decision will be made on an application for Permanent Residence by Investment or for Citizenship by Investment within 60 business days of submission of a complete application. The Local Agent will be notified of the decision.
An applicant who is granted Citizenship by Investment shall enjoy all the rights of a citizen of Grenada.