Grenada Citizenship by Investment Price Increase: New Minimum Investment Amounts from July 1, 2024

June 28, 2024 · Grenada · 8 min read

In March 2024, the governments of 4 Caribbean countries, including Grenada, signed a Memorandum of Agreement (MoA) and agreed to apply a set of common rules to their citizenship by investment programs.

The Grenada citizenship by investment price increase is now official: the Government of Grenada has announced higher minimum investment amounts for the program. The increase is smaller than many investment migration professionals had expected.

New Grenada CBI investment amounts from July 2024

In March 2024, the governments of 4 Caribbean countries, including Grenada, signed a Memorandum of Agreement (MoA) and agreed to apply a set of common rules to their citizenship by investment programs. One of the most notable changes is an increase in the minimum investment amounts.

On June 27, 2024, the Government of Grenada officially announced higher investment amounts for its citizenship by investment program. From July 1, 2024, the new investment amounts are as follows:

1. Real estate option: purchase shares in a government-approved tourism accommodation project and pay a government fee, as follows:

• Minimum investment: US$270,000 (an increase of US$50,000)

Government fee:

• Main applicant plus up to 3 dependents: US$50,000

For the 4th and each subsequent dependent:

• An additional US$50,000 for each parent or grandparent of the main applicant or spouse aged 55 or under who is financially dependent on the main applicant or spouse.
• An additional US$75,000 for each sibling of the main applicant or spouse aged 18 or older, unmarried and without children.
• An additional US$25,000 for other eligible dependents: children under 18, or children aged 18 to under 30 who are dependent on the main applicant or spouse; parents or grandparents over 55; and children born within 12 months of the date the main applicant is granted citizenship.

2. Government contribution option (to the National Transformation Fund, NTF)

• Contribution: US$235,000 for a family of up to 4 members: the main applicant plus 3 dependents (excluding parents or grandparents aged 55 or under, and siblings). (An increase of US$35,000; the US$150,000 option for a single applicant has been discontinued)

For the 4th and each subsequent dependent:

• An additional US$50,000 for each parent or grandparent of the main applicant or spouse aged 55 or under who is financially dependent on the main applicant or spouse.
• An additional US$75,000 for each sibling of the main applicant or spouse aged 18 or older, unmarried and without children.
• An additional US$25,000 for other eligible dependents: children under 18, or children aged 18 to under 30 who are dependent on the main applicant or spouse; parents or grandparents over 55; and children born within 12 months of the date the main applicant is granted citizenship.

Grenada remains a popular choice for second citizenship and global mobility

Established by the Government of Grenada in 2013, the Grenada citizenship by investment program has become one of the most popular citizenship programs, attracting investors from around the world. In 2023, the program recorded its highest-ever number of applications and capital raised, with nearly 2,300 new applications and approximately US$419 million in funds raised.

Much of the program’s appeal comes from its advantages for investors: there are no requirements for age, education, business or management experience, or language skills, and the processing time is relatively short, at around 10–12 months. A Grenada passport also offers investors and their families a range of benefits, including:

• Grenada citizenship is permanent and allows dual citizenship.
• The Grenada passport offers visa-free or visa-on-arrival access to 147 destinations, including the United Kingdom and the 29 Schengen Area countries (Germany, Italy, France, Finland, and others). Holders can stay in the Schengen Area for up to 90 days in any 180-day period and in the UK for up to 180 days per year.
• Access to education and healthcare in Grenada. Grenada’s universities often partner with institutions in the United States and the United Kingdom. Notably, Grenada is home to St. George’s University (SGU), the world’s third-largest source of physicians for the United States.
• With Grenada citizenship, investors and their families may be eligible to apply for a US E-2 Treaty Investor visa after being domiciled in Grenada for a continuous period of at least 3 years, allowing them to live in the United States while developing and directing the US business in which they have invested. For some investors, Caribbean citizenship can also support tax planning: these countries generally do not tax personal or corporate income earned abroad by non-resident citizens, and they do not levy inheritance or gift taxes.

IMM Group is currently presenting the 5-star InterContinental Grenada resort, one of the projects approved by the Government of Grenada under its citizenship by investment program.

InterContinental Grenada Resort

Part of the globally recognized InterContinental brand, the resort is set on La Sagesse Beach, one of the most scenic beaches in the Caribbean, just a 30-minute drive from Maurice Bishop International Airport and the capital, St. George’s. The resort is expected to open and begin operations in late 2026.

If you are interested in Grenada citizenship by investment, contact IMM Group or leave your details below. Our experienced advisors will provide detailed guidance and help assess your application’s prospects. We are committed to keeping your personal data confidential and use the information you provide only to advise on your family’s application.

IMM Group