Grenada Updates CIP Pricing Structure Effective July 1st

As of July 1st, Grenada has implemented new pricing for its Citizenship by Investment Program (CIP). This change aligns with the Caribbean Memorandum of Agreement (MoA) framework, joining other regional countries in updating their investment thresholds. This article details the new pricing structure and its implications for potential investors.

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New Pricing Structure for Grenada’s CIP

National Transformation Fund (NTF) Contribution Option

• Family of up to 4: US$235,000
• Additional dependents: US$25,000 for children, parents, or grandparents over 55
• Dependent parents or grandparents under 55: US$50,000
• Dependent siblings: US$75,000

Real Estate Investment Projects Option (Section 11)

• Family of up to 4: US$270,000

Government Contributions

• Family of up to 4: US$50,000
• Additional dependents: US$25,000 for children, parents, or grandparents over 55
• Dependent parents or grandparents under 55: US$50,000
• Dependent siblings: US$75,000

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Key Points

1. No Cost Distinction for NTF Contribution: Grenada ensures no difference in investment costs between a single applicant and a family of up to four under the NTF option. Of the US$235,000 minimum NTF contribution, the government retains at least US$200,000, leaving US$35,000 for agent incentives.
2. Real Estate Investment Allocation: For the real estate investment option, developers must retain a minimum of US$230,000 for project construction, with a maximum of US$40,000 available for agent commissions. The entire US$270,000 investment must be deposited in the developer’s escrow account, with strict controls on commission payments.
3. Transition Period for Applications: Only fully completed applications submitted before June 30th were accepted under the old pricing regime. Incomplete submissions, except those pending bank clearance resolved by July 31st, are subject to the new prices.

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Commitment to the MoA

Grenada's Investment Migration Agency (IMA) is dedicated to implementing all remaining components of the MoA in the coming weeks and months. This effort aims to ensure the CIP remains a vital non-tax revenue source for the country. The IMA also encourages regional counterparts to swiftly adopt the new price structure and harmonize standards across the Caribbean.

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Implications for Investors

The updated pricing structure for Grenada’s CIP reflects a regional effort to standardize investment requirements and maintain program competitiveness. These changes ensure transparency and integrity, making Grenada’s CIP an attractive option for investors seeking citizenship by investment in the Caribbean.