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How can I invest in Grenada citizenship by purchasing commercial property?

I’m considering applying for a Grenada citizenship but I'm more attracted to the option of buying property over a non-refundable contribution. My question is, does the property have to be bought for residential purposes? If so, can I use the apartment for commercial purposes (like Airbnb) while I own it, or does it have to only serve as a private residence? Are there any unforeseen restrictions?

Answers
  • Richard Hallam
    July 29, 2023

    There are three investment options under the Grenada citizenship by investment program. The national transformational fund is a donation starting from US$150,000 for a single applicant. The investment option starts at $220,000 for a single applicant and then the significant investment option starts at $1.5 million United States dollars. These are the only options currently available under the program. Therefore you would need to find commercial property with a value exceeding US$1.5 million and apply to the minister under the significant investment option.

  • Kevin Hosam
    EC Holdings
    July 28, 2023

    A property must be approved by the government ignorer for a person to qualify for citizenship through purchase. To my knowledge, there are no commercial properties approved.

  • Galli Khurelee
    Hengsheng Group
    July 26, 2023

    From the context of your email, it’s not restricted to residential because a house being used as Airbnb is still residential but you won’t find any offices as approved projects for CBI. So whilst it’s not restricted, the option is not there. Most of the approved projects for CBI are share options in hotels. You can buy a residential property to use as Airbnb if approved project for CBI.

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