The minimum investment requirement to qualify for Grenada’s citizenship by investment program has been reduced from US$350,000 to US$220,000.
The Grenadian Government recently announced a lower entry price for its highly acclaimed Citizenship by Investment (CBI) programme. The Government has reduced the minimum investment threshold from US$350,000 to US$220,000 for developers of approved projects that can demonstrate that they have invested at least 20% of the construction cost into the project.
Given that Kimpton Kawana Bay meets this requirement, Kimpton Kawana Bay has now been approved by the CBI Unit to sell at this new lower investment price of US$220,000.
Kimpton Kawana Bay is Grenada’s newest 5-Star resort and is located on Grand Anse Beach, voted by USA Today as Best Caribbean Beach 2018. Buying real estate at Kimpton Kawana Bay allows you to apply for Grenadian citizenship through Grenada’s renowned CBI programme.
Construction of the project is well underway, with Phase 1 now complete, and Phase 2
Significant Enhancements to the Grenadian CBI Programme
Grenada also recently legislated the following enhancements to its CBI programme:
- Secondary purchasers of real estate can now apply for Grenadian citizenship
- Unmarried siblings of the main applicant and spouse (without children) can now be included in the citizenship application
- The eligible age of parents and grandparents of the main applicant and spouse has been lowered to include those under 55
- Dependent children (between the ages of 18 and 30) no longer need to be enrolled in school or fully supported by the main applicant or the main applicant’s spouse
- Parents and grandparents no longer need to be living with the main applicant
Benefits of the Grenadian CBI Programme
The Grenadian CBI programme provides many benefits, including:
- Grenada is the only country in the Caribbean with a CBI programme that has an E2-Visa treaty with the United States. This enables Grenadian citizens who have successfully obtained an E-2 visa to live in the USA and operate their business there
- Acquiring Grenadian citizenship takes approximately 120 days
- Citizens who are tax resident in Grenada are not subject to Grenadian tax on their foreign income, nor do they pay any wealth, gift, inheritance or capital gains tax