Grenada Citizenship by Investment Program Circular Note Dec 2016

Grenada Citizenship by Investment Program Circular Note Dec 2016

An officially appointed promoter, marketer and agent of Grenada's Citizenship by Investment (CBI) Program, CTrustGlobal team is obliged to inform its esteemed clientele that the CBI committee of Grenada has issued a circular with improvised guidelines for those applying for its Citizenship Program by investing.

Applicants, worry not! These latest modification to the previous guidelines are only going to make CBI process smoother with enhanced efficiency. The changes are revised after recently conducted immaculate survey reviews and henceforth implemented

As it is our duty, here we shall provide you a short summary of the changes, but do read the circular for it may bring about more reasons why you must get your application ready!

Important CHANGES in the CBI Circular December 21st, 2016

      • Inclusion of a new born within 12 months of the grant of citizenship of USD 500.
      • Any kid under 12 is not subject to an HIV test unless its biological mother is found HIV positive. The previous limit for this HIV test was 11 years. So, your kid/s get 1 more year!
      • As per the new notice, those applicants who may have been rejected in any of their previous attempt of getting citizenship under any other Caribbean countries' CBI program, lose their eligibility already!
      • • Due diligence fee of US $ 5000 is applicable for not only the primary applicant but any dependents aged 16 years!

Apart from these pointers, the applicant must look at the list of revised processing costs and fee structure!

Correction of Documents

(Expressed in US Dollars)

Line DescriptionFees
Corrections on Naturalization & Permanent Residence Certificates (Non-Refundable)375.00
Corrections on Passports (Non-Refundable)375.00
Reissuance of Permanent Residence Cards (Non-Refundable)1000.00
Administration Processing  Fee for All Corrections(Non-Refundable)100.00
Deed Poll Name Change and reissuance of all documents (Refundable if not approved)3,000.00

 

Approved Projects under Section 11 of the Citizenship by Investment Act of 2013

(Expressed in US Dollars)

Line Description Fees
Application Fee for Approved Project (Non-Refundable)10,000.00
Due Diligence Fee for the Developer (Non-Refundable)7,500.00
Due Diligence Fee for each Director (or such other persons) (Non-Refundable)7,500.00
Project Administration Fee (Payable once application is approved)20,000.00 Annual Over the life of the Project
Requesting an Extension of the Project Start Date (Non-Refundable)10,000.00

Spouses not included in the application and Financial Sponsors

(Expressed in US Dollars)

Line Description Proposed Fees
Application Fee for (Non-Refundable)1,500.00
Due Diligence Fee5,000.00
Administration Costs1,500.00
Total Costs8,000.00

 

Don't log off the page without having a look at the officially issued Grenada CBI circular! A copy of circular note is attached below!

The Grenada Citizenship by Investment (CBI) Committee presents its compliments to the Agents, Marketers, Developers and Partners of the Grenada CBI Program and has the honour to notify via this Circular that a recently conducted review of the CBI Program, has resulted in a number of important changes.

Specific areas have been identified where modifications to the current CBI operational procedures and processes will further enhance inefficiencies for effectively managing an up-scaled workload. Certain requirements of Grenada’s CBI program will also be modified to provide for a uniquely attractive CBI program. The following is a list of the authorized changes that have so far been implemented:

 

HIV Test

      1. All minor dependents under the age of twelve (12) are not required to submit an HIV test result provided that the biological mother is HIV Negative. All applicants aged twelve (12) or older are still required to submit their HIV test result. It therefore follows, that in cases where the biological mother is not a party to the application, her HIV test result must be submitted with the application. The validity period for HIV test of three months remains in effect.

In instances where the biological mother is unavailable or unwilling, an HIV test result would be required for the minor child, as per normal. Note that the previous requirement was children under the age of eleven, so this provides an additional year.

Newborns

      1. Inclusion of a newborn child in the citizenship of a principal applicant once the child is born within twelve (12) months of the grant of citizenship with a processing fee of US$500.00.

Eligibility

      1. An applicant is not eligible for Citizenship if he/she is denied Citizenship by Investment in another Caribbean jurisdiction.

Due diligence fees for dependent children

      1. Due diligence fee of US$5000.00 is applicable to all dependent children over the age of 16 years.
      1. New fees as of 1st January, 2017 are as follows:-

 

Correction of Documents

(Expressed in US Dollars)

Line DescriptionFees
Corrections on Naturalization & Permanent Residence Certificates (Non-Refundable)375.00
Corrections on Passports (Non-Refundable)375.00
Reissuance of Permanent Residence Cards (Non-Refundable)1000.00
Administration Processing  Fee for All Corrections(Non-Refundable)100.00
Deed Poll Name Change and reissuance of all documents (Refundable if not approved)3,000.00

 

Approved Projects under Section 11 of the Citizenship by Investment Act of 2013

(Expressed in US Dollars)

Line Description Fees
Application Fee for Approved Project (Non-Refundable)10,000.00
Due Diligence Fee for the Developer (Non-Refundable)7,500.00
Due Diligence Fee for each Director (or such other persons) (Non-Refundable)7,500.00
Project Administration Fee (Payable once application is approved)20,000.00 Annual Over the life of the Project
Requesting an Extension of the Project Start Date (Non-Refundable)10,000.00

Spouses not included in the application and Financial Sponsors

(Expressed in US Dollars)

Line Description Proposed Fees
Application Fee for (Non-Refundable)1,500.00
Due Diligence Fee5,000.00
Administration Costs1,500.00
Total Costs8,000.00

 

The CBI Committee avails itself of this opportunity to renew to the Agents, Marketers, Developers and Partners of the Grenada CBI Program the assurances of its highest consideration.

Further Information

Through all the revisions and modifications in the Grenada citizenship by investment program, CTrustGlobal is here to help! For any queries, further information and or how to apply, contact us! We can arrange a free consultation as well!

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