Announcement of New Price Option for Section 11 Qualifying Investment
The Grenada Citizenship by Investment (CBI) Unit is delighted to present news of an enhancement of the Grenada CBI programme. The Government of Grenada has enacted an amendment to regulations under the Grenada Citizenship by Investment Act No. 15 of 2013 to provide for a new price option for investment in qualified Approved Projects. The regulation amendment permits developers with an Approved Project in the Tourism Accommodation sector to sell each unit to two or more applicants with each applicant paying a purchase price of no less than USD 220,000.
Under this new price option, Section 11 Approved Projects in the Tourism Accommodation sector may offer investors a new qualifying investment option as follows:
1. A main applicant becomes a co-owner of a single unit with at least one additional main applicant. Each of the main applicants must pay a minimum purchase price of USD 220,000 plus the usual government contribution of at least USD 50,000.
2. Investments in Section 11 Approved Projects that are not in the Tourism Accommodation sector, or for those investors who prefer to achieve full ownership of a unit, the minimum purchase price of USD 350,000 plus the usual government contribution of at least USD 50,000 remains.
The CBI Unit will accept applications with the main applicant electing the new price option beginning April 1, 2019.
For more information as it relates to the definition of Tourism Accommodation, please see Statutory Rules & Orders #32 here.
Source: Grenada Citizenship by Investment Unit
