On 17th May 2019, the Grenada Government announced the Citizenship By Investment (CBI) Amendment Act 3 of 2019.
It stipulates that the following dependents are eligible to be included in the application:
- Parents under the age of 55
- Unmarried siblings over 18
- Children under the age of 30
This applies to parents, siblings and children of the main applicant or spouse.
In addition, children born of the main applicant or his/her spouse up to 12 months after the granting of citizenship. For parents under 55, there is an additional contribution fee of $50,000 each and for siblings, the additional fee would be $75,000 each.
The new legislation stipulates that real estate purchased for CBI purposes can be resold after 5 years, an increase from the original time frame of 3 years.
However, the real estate can again be purchased for Citizenship by Investment purposes.