Grenada’s Citizenship by Investment program, established in 2014, continues to prove worthwhile and rewarding as the Government of Grenada discloses 2022 earnings; noting promising growth for 2023. In the recent budget statement presented on Monday 5th December by Finance Minister and Prime Minister Dickon Mitchell, revenue collected from 1,058 approved applicants between January and September 2022 resulted in EC$112 million for the Government’s coffers. The Prime Minister also stated that 2023 earnings from CBI are anticipated to be over EC$240 million – double the amount collected for this year.
Since 2014, CBI has served Grenada’s economy as an income generator to finance and drive economic development through the collection of fees and the two investment pathways for applicants:
- The CBI-approved real estate projects
- The National Transformation Fund.
From its inception, over 7000 people have become new citizens of Grenada.
According to the last CBI report for July to September 2022, more applicants are choosing the real estate investment route. Figures show that of the 286 approved new citizens of Grenada, 238 chose to invest directly in real estate projects approved by the government, with 48 making a one-time contribution to the National Transformation Fund (NTF).
Cumulatively, ongoing and new real estate development projects amount to over 3 billion dollars.
The Government of Grenada also announced a new policy for the National Transformation Fund, which includes setting aside 10% of the CBI collections to be managed by the Eastern Caribbean Central Bank (ECCB) for disaster risk preparation and mitigation financing. The Prime Minister affirms that the balance will continue to finance capital and social projects of National importance.
By all accounts, Grenada’s Citizenship by Investment Program is on the uptick and is on the path to maintaining its prestige and placement as one of the best CBI programs in the Caribbean.
Just Inter-Continental Can Help You Make the Right Choice.
If you are considering becoming a citizen of Grenada and calling Grenada your second home, you need a team that will ensure your process is seamless and in line with your wants and needs.
Just Inter-Continental Services (JICS) is a local agent for Grenada’s Citizenship by Investment Program and provides tailored and customized services for clients, with the goal of seeing their clients through from application to becoming a citizen to post-citizenship, and establishing a life in Grenada, or even opening a business and registering for taxation.
To learn more about the CBI process and our services to help you get there, visit our website https://jicsgrenadacbi.com and explore options for applying to become a citizen of Grenada.
