The Grenadian CBI program is poised for massive improvements in the very near future. In a circular dated September 10 (attached to this post below), Grenada’s Citizenship by Investment Committee Chairperson Kaisha Ince announced significant reforms that will liberalize the CBI program, while committing to bring down already relatively quick processing times.
Most significantly for prospective investors, the CBI Committee will broaden the scope of an investor’s dependents also eligible for citizenship. New dependents include:
- Unmarried brothers and sisters / brothers- and sisters-in law of the investor who do not have children;
- Parents who are not financially dependent on the main applicant (as had been required previously); and
- Children over the age of 18 who are not enrolled in a college or university. Dependent children may accordingly acquire citizenship up to the age of 30.
Another game-changer is the new ability to acquire citizenship through the secondary purchase of real estate units in CBI-approved projects. Accordingly, provided all other requirements are met, an applicant might be able to acquire citizenship through the purchase real estate from a previous CBI applicant, providing an opportunity for much greater flexibility in entering and exiting approved real estate projects.
While not effective immediately, the circular notes that these new legislative provisions are anticipated to go into effect later this month. Beyond these changes, the program has also named Mr. Thomas Anthony to the position of Chief Executive Officer, effective immediately.
Green and Spiegel has demonstrated experience in Grenadian CBI, including multiple marketing subagent licensures. For more information regarding acquiring a Grenadian passport or an E-2 nonimmigrant investor visa thereafter, please contact us today.