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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.
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
Key Points
- 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.
- 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.
- 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.
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.
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.
FAQs
What are the new minimum investment thresholds for Grenada’s CIP?
When did the new investment thresholds come into effect?
Was there a transition period for current applications?
Why has Grenada increased its CIP investment thresholds?
How do these changes affect new applicants?
Conclusion
Grenada's new CIP pricing structure, effective July 1st, marks a significant update in the region's investment landscape. By aligning with the Caribbean MoA, Grenada enhances the appeal and stability of its CIP, offering a robust and transparent investment pathway. Prospective investors should consult with authorized agents to navigate these changes and take full advantage of the updated program.
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