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Grenada Citizenship By Investment Amendment Act 3 of 2019

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Posted by Edward Keifer on 18 July 2019
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Grenada Citizenship By Investment Amendment

Grenada Citizenship By Investment Amendment

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.

For further guidance on the Grenada Citizenship By Investment Program, please do not hesitate to contact us directly.

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