The Government of Grenada announced today that the minimum investment requirement for the real estate option in the country’s Citizenship by Investment Program has dropped from US $350,000 to US $220,000.

The new price only applies in cases where two applicants invest in a unit, totalling US $440,000, and is similar to changes that have happened over the last year in other Caribbean CIP countries.

The change means that Grenada is now in line with prevailing market rates in surrounding jurisdictions.

Recent changes were also made in Grenada in order to improve the attractiveness of the program. Along with other changes, the CIU expanded the definition of dependents to include adult siblings and grandparents, removed the requirement for permanent residence, and enabled CBI real estate investors to re-sell their properties to new CIP participants. More details on those changes here.

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