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How do I know if a development is an approved real estate project in Grenada when investing to get a passport?

I heard that applicants can invest $220,000 in an approved real estate project but how do I find those? Can I purchase land and build my own house and be able to qualify?


Answers
  • May 27, 2022

    Most likely an approved development of the Grenada citizenship by investment program will be posted on the government website, however you can also ask the developer to provide their approval notice which they would have received from government upon their approval. It may also be prudent to engage the services of a local Marketing Agent thereby having somebody working for you that understands the country, the developments and the options available to you. I would, however, strongly suggest doing your own due diligence on the development and the developers to ensure that you are comfortable with your investment funds and fully understand the risks and nature of your investment. There is a section of the law entitled the significant investment act which allows qualified investments whereby an amount in excess of 4 million Eastern Caribbean dollars (US$1.5MM) must be invested such investors may also be permitted to apply for citizenship of the country. This, however, has to be approved in advance by the Minister and a strictly residential property may not meet all the criteria.