Escrow Agent Service

  • Under the real estate option, applicants are required to place the purchase price in escrow if the real estate is being purchased off-plan i.e. construction is not complete at the time of applying for citizenship.
  • An escrow agreement is signed among Grant Thornton (escrow agent), Purchaser (client/applicant) and the Vendor (developer) governing the release of funds which is performance based.
  • All escrow funds are held in CIBC FirstCaribbean International Bank.
  • Monthly escrow statements showing all account transactions including funds received, disbursements and interest earned (if any) are provided to clients.
  • The escrow agent fee is 1% of the escrow funds and is normally paid by the purchaser.