Revoked Approvals: Grenada CIU Removes Five Projects from Citizenship by Investment Program
By its inclusion in the country’s Gazette on August 4th, Grenada’s CIU has taken action to remove five real estate projects from its roster of developments endorsed under the Citizenship by Investment Program.
These five projects include:
– New Opportunities Investment Limited (NOIL)
– Hope Development Limited/La Pointe Grenada
– Grenada Corolla Consultant Limited
– Horseshoe Cove Resort
– Port Louis Ltd
The official revocations, effective as of July 7th, 2023, as reported in the Gazette, signify that these projects are no longer recognized as approved ventures. Post this date, they are prohibited from being promoted as endorsed projects and are no longer eligible to attract investors.
The decision to de-certify these projects was formalized by the signature of CIU head Thomas Anthony. This move aligns with Prime Minister Dickon Mitchell’s declared objective, articulated in June, wherein he underlined that approved projects failing to commence construction within a reasonable timeframe would face de-certification.
For now, Grenada has 19 approved real estate projects. These are:
1. Bacolet Bay Resort & Spa
2. Beach House Resort by Silversands
3. Coral Cove Hotel
4. Grenada National Resort Project
5. Hartman Education Enterprise Ltd.
6. Hartman Hotel Development Ltd.
8. Intercontinental Hotel & Villas
9. Kimpton Kawana Bay Resort
10. Mariposa Condominiums
11. Mount Cinnamon
12. Reece Investment Inc. trading as Emerald Suites
13. Saint David Agro Inc
14. Silver Sands
15. Six Senses La Sagesse (Range Developments)
17. The Sanctuary at Fiji Beach
18. The View (The Legacy Project Inc.)
19. West India Spice
So hurry up until there are a few exciting projects you can qualify for. If you are interested in getting second citizenship from Antigua and Barbuda, do not hesitate to contact our experts!