Thomas Anthony, the new CEO of Grenada’s citizenship unit
By Melanius Alphonse
Caribbean News Now associate managing editor
[email protected]
ST GEORGE’S, Grenada – In new regulations gazetted on Monday, the government of Grenada has reduced the minimum investment requirement for the real estate option of the country’s citizenship by investment (CBI) program from US$350,000 to US$220,000.
The new reduced investment is only applicable where applicants co-invest in a unit, for a total of US$440,000 each.
Changes to Grenada’s citizenship by investment program (CBI), including the appointment of Thomas Anthony as chief executive of its citizenship unit, led to a strong fourth quarter (Q4) last year. Revenue was up by more than 25 percent in Q4, inclusive of 83 applications approved by the cabinet of Grenada.
Grenada is fast establishing a reputation as the most prudent and dynamic country for second citizenship investment in the Caribbean, or even the world. It has not been beset by allegations of financial irregularity, as has been the case recently in St Kitts and Nevis, where agents are advertising illegal cut-price citizenships with financing options.
