Grenada’s CBI Brings Over USD $ 412 million to the Country in 2024
The Island of Grenada took advantage of a decline in the number of applications to resolve thousands of pending Citizenship by Investment applications submitted in 2024. With that, its revenue reached the second-best mark ever for the program at EC$1,116 million, a little over USD $ 412,5 million.
In total, the Investment Migration Agency (IMA), formerly known as Citizenship by Investment Unit (CIU), approved 1.583 applications, which welcomed 5.443 new Grenadian Citizens, when accounting for family members in the process. The rejection rate of 5,5% accounts for 93 requests that did not get approved by IMA.
Investors showed a clear preference for the real estate avenue, which was the choice of 57% applicants, with the remaining 43% choosing the National Transformation Fund (NTF) pathway.
After processing the all-time record of 1.676 files, Grenada cleared its backlog and starts 2025 ready to efficiently receive and process new submissions from investors keen to obtain the island’s passport.
Top Benefits of Grenada’s Passport
Grenada’s Citizenship by Investment program is an attractive alternative to investors seeking to diversify their portfolios while also protecting their assets. Why? Because the country has a wide array of advantages that allows for greater global freedom, and potentialized earnings.
- No tax on worldwide income, wealth, capital gains and inheritance;
- Grenada’s passport is the 29th most powerful in the world;
- Visa-free entry to over 135 countries, including the United Kingdom, the Schengen Zone, Singapore, and Hong Kong;
- Access to the USA E2 Visa, and the chance to live, work, and study in the United States by investing in a business operating in the country;
- Inclusion of a spouse, unmarried siblings, dependent children under the age of 30, and even parents, and grandparents.
When looking at the benefits, it is no wonder why over 5400 people have become citizens of Grenada last year. From those, based on number from Q4 2024, the majority of applicants were from China (23%), followed by Nigeria (19%), U.S. (5%) and Lebanon (5%), following a similar trend from preview quarters.
Grenada’s Record-Breaking Year and the Upcoming Surge in Prices
Now that Grenada’s Investment Migration Agency has cleared its backlog of applications after a highly efficient 2024, there is a strong indication that this might be one of the fastest places in which investors can obtain a new passport in 2025. With that, there is bound to be a big surge in the number of new applications, which can lead to two outcomes: one is the buildup of a new backlog that will start slowing down processing time once again. The other is a possible increase in minimal investment thresholds, since a surge in interest can easily drive prices up as well.
The solution? Act now. That is the best way to secure one of the Caribbean’s top passports from USD $270,000.
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