New Price Structure announced for Grenada CBI: Minimum Investment increases to US$235,000

Grenada: A new price structure has been announced for the minimum investment threshold of Grenada’s CBI Programme by the Investment Migration Agency. The applicants will now have to invest USD235,000 to acquire citizenship from July 1, 2024, marking one of the steps outlined in the recently signed MOA.

Notably, Grenada was among four other OECS countries with the CBI Programme which have signed the Memorandum of Agreement earlier this 2024. During the signing, the leaders of these countries agreed to increase the minimum investment threshold for the programme, and June 30, 2024, was set as the deadline for its implementation.

The new pricing adjustments will be implemented under the Grenada Citizenship by Investment (Amendment) Regulations, 2024. The revised prices stated that USD235,000 will be minimum investment threshold for single applicant or a family of up to four under the National Transformation Fund (NTF).

For additional dependents, the price will be USD25,000 or USD50,000 and for siblings, the amount will be US$75,00, under the NTF.

Talking about Approved Project Investment under Section 11, the minimum investment threshold for single applicant or a family of up to 4 will be US$270,000. For government contribution, the investment will be US$50,000 and additional dependents will be US$25,000 or US$50,000. While, US$75,000 will be paid for sibling under Grenada CBI Programme.

As per the amendments, there will be no different in investment costs between a single applicant and a main or principal applicant with up to three dependents for the NTF options.

Download the circular here to know details on new price adjustments

From the contribution of US$235,000 under NTF, a minimum of US$200,000 will be retained by the government and an allocation of up to US$35,000 will be paid as commission to agents.

In addition to that, US$270,000 under the Approved Project Investment will be given to the Developer’s Escrow Account and the US$230,000 will be used towards the Project construction coast. Out of them, US$40,000 will serve the commission payment for the agents.

IMA of Grenada added that the new price structure has been aligned with standardized rates across the OECS for Citizenship by Investment Programme. The step is aimed at bringing Grenada in line with the other OECS member states, ensuring the enhancement of the integrity and reputation of the programme.

The adjustment will also mark the conclusion of an era of downward spiral price competition and enhance the reputation of the OECS member states.

In addition to that, the CEO of IMA- Thomas Anthony expressed pleasure and said that the changes are a step in the right direction of harmonizing the Citizenship by Investment Programme in the OECS countries.

He called it a “groundbreaking agreement” and added that this would end to the race-to-the-bottom era which persisted for far too long. CEO noted that they work to continue to do the necessary work for further strengthen Grenada’s and the region’s governance infrastructure.