According to the latest news, the Grenada Immigration Department cancelled the certification of citizenship by investment for five real estate development projects on August 4.
The revocation order signed by USCIS Director Thomas Anthony will take effect on July 7, 2023, after which the five programs cannot claim to be approved by investment citizenship, and investors can no longer seek citizenship. This decision brings some changes to the citizenship by investment program.
5 Citizenship by Investment Real Estate Projects Cancelled
To date, the Grenada Citizenship by Investment Program has been approved for 19 developments.
Of these, 5 projects have no construction update news, 2 projects have been suspended, 4 projects have been completed, 1 project is partially completed, and 7 projects are under construction.
19 approved development projects
Grenada's Prime Minister Dickon Mitchell signaled in June that the certification would be revoked if the approved project was delayed.
NOT LONG AGO, THE GRENADA PLANNING AND DEVELOPMENT AUTHORITY (PDA) CONDUCTED A FIELD VISIT TO A NUMBER OF PROJECTS, AMONG WHICH THE PROGRESS OF THE GRENADA NATIONAL RESORT PROJECT AND THE CONSTRUCTION OPTIMIZATION PLAN PROPOSED BY THE PROJECT DEVELOPMENT AND CONSTRUCTION TEAM WERE FULLY RECOGNIZED BY THE AUTHORITIES.
2023 Grenada passport latest policy
On August 1, the Grenada Immigrant Investor Council issued Announcement No. 5, which mentions two changes:
1. From 1 September this year, all applicants aged 17 and above will be required to undergo mandatory interviews to enhance due diligence procedures;
2. The agency is undergoing administrative reform and will provide information on the revised fee structure shortly.
Although the adjustment of the CBI plan of Grenada is small, the entire project must bear higher capital and time costs in the future. Fortunately, Grenada still has a certain grace period, and planned immigrants should consider the progress of subsequent applications.
How to apply for a Grenada passport
Application conditions
1. The main applicant is at least 18 years old;
2. No criminal record;
3. Donate 150,000 US dollars (single person) to the National Transformation Fund (NFT) or invest 22/350,000 US dollars (all family members) to purchase government-approved real estate projects, and the real estate can be sold after 5 years (does not affect the passport obtained);
4. Affiliated applicants who can apply together:
Spouse;
Children (under 30 years of age, unmarried and financially independent);
Parents and grandparents of the main applicant and spouse;
and unmarried siblings over the age of 18.
Application materials
Notarized certificate of valid passport (full copy);
Notarized certificate of identity card;
Notarized birth certificate;
Notarized certificate of marriage;
Photo (35*45mm, white background);
Notarized certificate of no criminal record (exempt for children under 16 years old);
Notarized certificate of highest academic qualification;
Notarized certificate of current residential address;
Medical examination report;
References from banks and professionals (main applicant only);
Documents proving the source of funds (bank statements, proof of income, etc.);
It usually only takes a few weeks for all of the above documents to be ready.
Recommended reading: The most distinctive passport program in the Caribbean: Grenada Investment Immigration
Application process
01. Preparation stage: about 1 month
Choose the right Grenada citizenship by investment program;
Fill in official forms, prepare documents for translation and notarization;
Transfer of investment deposit, payment of background investigation fees, government application fees, government processing fees, and lawyer fees;
Submit the above relevant documents to the Government of Grenada for review.
02. Review stage: about 2~3 months
AFTER THE COMPLETION OF THE REVIEW, IF SUCCESSFUL, A LETTER OF APPROVAL ISSUED BY THE GRENADA GOVERNMENT WILL BE OBTAINED;
Sign the investment agreement, complete the remaining investment transfer, and pay government fees, passport fees, and oath fees.
03. Get a passport: about 1 month
Receive a certificate of naturalization issued by the Government of Grenada;
Submit the remaining necessary passport application documents;
All applicants receive Grenadian passports.
That's it for the latest news about Grenada's citizenship by investment program. Grenada citizenship, enjoy visa-free access to 147 countries and regions, and enjoy exclusive visa-free opportunities for China and apply for a U.S. E-2 visa. It can be described as an investment immigration project with high gold content.