Since its launch in 2013, the Grenada Citizenship by Investment Unit has developed its Caribbean investment programme in order to provide investors with beneficial incentives. The programme, which allows investors to enjoy access to more than 120 countries visa-free and is the only Caribbean programme which offers visa-free travel to China, has recently introduced a new price option relating to investment in approved real estate projects.

Terms of the New Investment Option

The amendment, which goes into effect as of the 1st April 2019 when the programme will begin accepting applications for the new investment option, sees the reduction of the investment required from USD 350,000 to USD 220,000.  The option only applies for investment within the sector of tourism accommodation and requires at least two applicants such that an applicant becomes a co-owner of a single unit.

Further Requirements and Alternative Investment Options

Following the announcement of the amendments on the 18th of March 2018, the Grenada Citizenship by Investment Unit also announced that this option is only applicable to developers with advanced written approval, otherwise applications will be declined. Alternatively, applicants may instead invest in projects which not in the sector of tourism accommodation with a minimum investment of USD 350,000.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.