The Investment Migration Agency (IMA) of Grenada in a circular has warned investors not to participate in unlawful discounting activities and unapproved owner loan/financing arrangement promoted by agents to potential applicants under the CBI program. So far 8 investment applications have been denied by Grenada authorities in 24/2,5 based on evidence of such illegally promoted schemes.
IMA Grenada categorically condemns such practices and commits to ensuring that all stakeholders within the investment migration ecosystem adhere to the highest ethical standards. As part of the Grenada Citizenship by Investment (CBI) Programme, all stakeholders should be fully aware of the minimum real estate investment options, as outlined by SRO. 15 of the Grenada Citizenship by Investment (Amendment) (No.2) Regulations, 2024, and any subsequent amendments.
Real Estate Minimum
Under the newly adopted pricing model
- The minimum investment for real estate approved projects is US$270,000 to the developer and US$50,000 to the Government. Investment under this option must meet this statutory requirement.
- For projects not within the tourism sector, the minimum investment is US $350,000.
In the case of contributions to the National Transformation Fund (NTF), the minimum
investment required is US $235,000. - The above price points relate to a single applicant or up to a family of four (4) people.
“These actions violate established legal and regulatory frameworks, undermining the integrity of the investment migration industry broadly and the Grenada CBI Programme specifically.”
-IMA Grenada
Monitoring and Compliance
IMA Grenada will seek active help of international due diligence providers investigations and will continue ongoing monitoring of the industry for any illegal activities and have intensified to include the use of advanced technology and on the ground human intelligence. The IMA will continue to work with our due diligence partners and relevant authorities to ensure compliance and integrity within the investment migration space. Due diligence firms have been directed to pay particular attention to applications submitted by
this Marketing Agent and its sub-agents on behalf of the developer.
The Grenada CBI Committee and the Agency are committed to rooting out these illegal and unacceptable practices.
