Siblings can be included in Grenada CIP application 14/09/2018

Grenada offers naturalisation by investment option to unmarried siblings, non-adult dependents and financially independent dependents of the primary applicants.

The significant changes will come into force in late September, and the new definition of dependents will attract more applicants for sure. According to the information from imidaily.com portal, the Grenada CBIU (Citizenship by Investment Unit) sent the following:

“Siblings of the primary applicant (or the spouse of the primary applicant) who are not married and do not have any children may be included as a dependent of the main applicant. Parent dependents will not be required to be financially dependent on the main applicant. Child dependents over the age of 18 will not be required to be enrolled in college or university.”

Grenada’s citizenship by investment scheme needed such a significant upgrade because the number of applicants fell during 2017 and the Q1 and Q2 periods of 2018. The single disadvantage of the programme is the relatively high amount of investment (350,000 USD) under the real estate option compared to the other Caribbean locations.

Grenada relaunched its programme for investors in 2013. It offers secure living and high quality of life. The Caribbean island nation has no income, wealth or inheritance taxes. It is the home of the St Georges University, which is an accredited medical, veterinary and arts & science educational institution. Personal presence is not required to obtain the citizenship.

The actual investment opportunities include the donation (200,000 USD) and the real estate purchase options (350,000 USD).

Grenada is the only country in the Caribbean region with a fast-track citizenship programme, which signed a Commerce and Navigation Treaty with the United States of America. So, the investor citizens are eligible as well for the US E2 non-immigrant visa. It means Grenadians can secure a US E2 visa with a substantial investment in local business and by employing some US citizen or resident staff.

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