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September 8, 2022

CBI TRANSFER OF MONIES | GRENADA CO-OPERATIVE BANK

These guidelines are shared by Infinity (Grenada) Inc to assist persons who are applying for Grenadian Citizenship through the Citizenship by Investment Program, when making financial transfers. Below are the documents needed and the set procedures required by the bank as follows:

 

  1. Police Record:

• Must be obtained from country of residence that customer has been residing in for more than one (1) year, over the ten (10) year period which immediately precedes the making of an application.

  1. Local Agents must give at least three (3) to five (5) business days advance notice of expected initial Incoming wire and must provide the following:
    • The applicant, originator and or beneficiary information
    • Copies of due diligence information as outlined in Section (5) of the Grenada Citizenship by Investment Act
    The intent of this guideline is to provide us sufficient time to conduct our own due diligence BEFORE the initial remittance of the Application, Processing and Due Diligence fees. Therefore, the Bank will provide the confirmation to remit or not following the due diligence review.
  2. Supporting Documentation Submission

Source of Funds Declaration Forms with supporting documentation for all incoming Wires should be in the following order to facilitate ease of review:

Source of Funds Declaration Form
i. Citizenship by Investment or Permanent Residence by Investment Application Form – Annex 2 or Annex 2 & 3
ii. Statement of Source of Funds – Annex 9
iii. Know Your Customer (KYC) Form
iv. Identification
v. Police Record
vi. Proof of Address
vii. Any other supporting documents
cooperation is highly anticipated going forward.
SOURCE: GRENADA COOPERATIVE BANK
Retail Banking Unit Manager, St. George’s

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