Grenada Citizenship by Investment

Grenada’s Citizenship by Investment Program (CIP) has been re-established by the Citizenship-by-Investment Act, No. 15 of 2013 passed by the Grenadian parliament. In order to preserve integrity and value of Grenadian citizenship a strict protocol has been established in which application is by invitation only. All applicants, including family members and business partners, must be individually vetted and approved by the Government of Grenada.

Interested parties in the Grenada CBI program are required to work through a CBI licensed Marketing Agent. The role of the Marketing Agent is to provide information on the Program, the Investment, and to act as the liaison between the Investor and the Local Agent and Escrow Agent. The Local Agent also acts as Escrow Agent under the Program and will provide you with the terms of their engagement regarding the services to be rendered to you. The Marketing Agent may also provide assistance in ensuring accurate completion of the required forms and supporting documents which are to be submitted to the CBI Committee by a Local Agent. In addition, the Marketing Agent will also provide information pertaining to CBI approved real estate developments.

Acceptance of Forms

The completed forms will be submitted only if they are properly completed, dated, signed, and accompanied by all the necessary documents and fees.

Application Examination

Once the application and all supporting documents are deemed complete by the local agent, and you have satisfied all obligations set by the local agent and escrow agent, the completed application is submitted to the CBI Committee which will conduct its own independent due diligence process.

Escrow Account Funding

Prior to submission of the application and supporting documentation, the full investment, processing, due diligence, application, local agent and escrow agent fees must be funded into an escrow account at either Scotia Bank (Bank of Nova Scotia), RBTT (Royal Bank of Canada) or Republic Bank Grenada . The escrow account is not controlled or managed by the developer, marketing agent, nor Government of Grenada and is administered by a CBI licensed Local Agent and escrow agent.

Escrow Process

Upon receipt of funds (fees and investment capital) and on acceptance of all documentation required for the application submission, the escrow agent will be authorized to release funds for payment of all processing, due diligence, and application fees due to the Committee at the time of submission. Applicants will receive a complete fee schedule during the application process and prior to funding the escrow account.

Refund of Escrowed Funds

In the event that the application for citizenship is rejected, the investment capital held in escrow by the escrow agent is refunded to the investor. Processing, due diligence, application, local agent and escrow agent fees are non-refundable.

Due Diligence Checks

The Committee may engage the services of an independent individual(s) or a professional organization to conduct due diligence on the applicant and other dependents.

Timing

Within sixty (60) business days or more from the submission of a complete application for Permanent Residence or Citizenship by Investment, the Committee shall notify in writing to the Local Agent on behalf of the main applicant of the decision made regarding the application.

Application Approval

Following written notification of the approval of an application, a Certificate will be issued confirming Grenadian citizenship. An applicant who is granted citizenship will need to take an oath of or affirmation of allegiance in the form contained in the Schedule to the Citizenship. The new citizen along with his/her associated family member(s) and dependents can immediately apply for a Grenadian passport.

 

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