Grenada’s government amends its Citizenship by Investment Act of 2013
By means of Act 3 of 2019 the government of Grenada has introduced a number of amendments to its citizenship by investment programme mainly relating to dependents who can be added to the application.
The Government of Grenada by virtue of Act no 3 of 2019 has introduced a number of amendments to the primary Citizenship Act of 2013. Such amendments are not the first for this year, since from March 2019 the required investment in real estate has been reduced from USD $350,000 to USD $220,000. Such a reduction in price does not apply to all real estate projects in Grenada but those who are specifically approved by the Citizenship by Investment Unit.
To summarise, the new amendments introduced in May 2019 are the following:
Grenada Citizenship by Investment Qualifying Factors for:
Children
- The age limit for children of the Main applicant or his/her spouse has been raised from 26 to 30 years
- The requirement for children to be enrolled in an educational institution has been removed
- It has become possible to add children of the main applicant and the spouse who are born within 12 months of approval
Parents and Grandparents
- The age restrictions for qualifying parents and grandparents have been removed
- The requirement for parents and grandparents to live with the main applicant has been removed
Siblings
- It has become possible to include in an application a sibling of the main applicant or his/her spouse who is at least 18 years of age and single with no children
Investment
- An individual to whom citizenship has been granted by means of an approved investment shall not dispose of the investment until the expiration of five years from the grant of his/her citizenship
- It has become possible for applicants who obtain citizenship by investment in real estate to re-sell the same real estate to new citizenship applicants after five years.
The above amendments have come into force and were approved by the Senate on the 21st of March 2019.
