Grenada At Glance

 

Grenada’s citizenship by investment program (CIP) was created in 2013. The purpose was to allow investors to secure permanent residence and citizenship in Grenada, while also stimulating economic growth and creating employment opportunities in the country. It is one of the most efficient CIPs in the Caribbean and has advantageous visa treaties with both the US and China that are unique to this program. 

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Grenada is a beautiful island in the Caribbean. Known as the Spice Isle due to the aromatic nutmeg, clove, ginger, and cinnamon grown on its many spice plantations, this tropical paradise is a treat for all of the senses. Grenada is adorned with picturesque white sand beaches, exquisite waterfalls, exotic gardens, beautiful national parks and lush rainforests. Its pristine waters are home to a unique underwater sculpture park and colorful coral reefs. Its capital, St. George’s harbor is equally as vibrant and considered the most beautiful waterfront in the Caribbean. 

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Grenada Citizenship By Investment Options

 

The Grenada Citizenship by Investment Program offers two options for investors and their families to secure an irrevocable second passport and dual citizenship.

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National Transformation Fund

 

The National Transformation Fund (NTF) was established in 2013 to help grow and strengthen the Grenadian economy. The NTF finances various projects in Grenada that benefit tourism, agriculture, and alternative energy. By investing via the NTF, investors can create a direct positive impact on Grenada.

The NDF option requires a non-refundable contribution of at least $150,000 for a single applicant or $200,000 for a family of up to 4. Any additional dependent requires an extra $25,000 per person.

In addition to the investment, the following application, processing anddue diligence fees are required:

Application Fees: $1,500 per person

Processing Fees:

• Main applicant – $1,500

• Spouse – $1,500

• Dependent 18 and over – $1,500

• Dependent under 18 – $500

Due Diligence Fees:

• Main applicant – $5,000

• Spouse – $5,000

• Dependent 18 and over – $5,000

• Dependent under 18 – $2,000

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Real Estate Developments

 

The real estate option offers the opportunity to invest in government-approved development projects. These projects currently include hotels, villas and resorts, with many more eligible properties constantly being added. The real estate investment must be kept for at least 5 years from when you are granted citizenship. 

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There are two different pathways to invest under the  real estate investment option

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Single Investor: A single applicant must invest at least US$350,000 in an approved government development project.

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Joint Investment: Two applicants can co-invest in a real estate investment, with each one required to make an investment of at least US$220,000, for a total of US$440,000 each. In addition to the investment, the following application, government, processing and due diligence fees are required:

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Application Fees: $1,500 per person

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Government Fees:

• $50,000 for main applicant and up to 3 dependents

• $25,000 for each additional dependent

Processing Fees:

• Main applicant – $1,500

• Spouse – $1,500

• Dependent 18 and over - $1,500

• Dependent under 18 - $500

Due Diligence Fees:

• Main applicant – $5,000

• Spouse – $5,000

• Dependent 18 and over – $5,000

• Dependent under 18 – $2,000

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The real estate option provides an easy exit strategy as the property can be resold 5  years after purchase. 

Furthermore, secondary purchasers of real estate units in approved Citizenship by Investment (CBI) projects are eligible to obtain citizenship as well, provided they meet all of the other requirements.

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Grenada Citizenship Requirements

 

In addition to the monetary investment requirements, there are several other conditions that applicants must meet in order to apply to the Grenada Citizenship by Investment program:

• At least 18 years old

• Hold no criminal record.

• Be in good health.

• Able to invest in one of the two options with funds from a legal source

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Application Process

 

The application process for the Grenada Citizenship by Investment Program is thorough in its due diligence checks, yet quick and efficient. One of the fastest ways to secure a second passport in the Caribbean, the application processing time is currently 3-5 months regardless of which investment option you choose.

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Eligible Dependents

 

The following relatives of the main applicant are eligible to be included in the application:

• Spouse

• Children under 30

• Dependent children between the age of 18 and 30 years old - no longer required to be enrolled in a college or university

• Siblings who are unmarried and without children

• Parents or grandparents of the investor or the spouse no longer required to be financially dependent on the main applicant and no age restrictions

• Children born within 12 months of the granting of citizenship

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Required Documents

 

The application, in order to be considered complete and admissible, should include:

Form 1 – Personal Information
Form 2 – Fingerprints
Form 3 – Particulars for the Office of Home Affairs 
Form 4 – Medical
Form 5 – Employment Status
Form 6 – Investment Confirmation

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Supporting Documents

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• 10 recent passport-sized color photos. Don't forget to check all Grenada Passport Photo Requirements!

• Medical health certificate

• Birth, marriage, adoption, divorce certificate copies (as applicable)

• Police clearance certificates for each applicant over 16

• Color copy of passports of all applicants

• Color copy of all national identity cards

• One professional reference no older than 6 months

• Original bank reference

• Education and employment history and Resume/CV

• Statement of Source of Funds and proof of source

• Proof of address

• Certified college or university transcripts for children at least 18 years and less than 30 years (if applicable)

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Grenadian Passport

 

The Passport fee is $250 for each individual being issued a passport. Grenada is the only CIP program that automatically issues you a passport as part of the application process.

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The passport is valid for 5 years and can be renewed in the Grenadian Consulate in London, or directly through the Grenadian Passport and Immigration Office. Our team at HNWI can take care of the renewal on your behalf when the time comes.

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What Are The Benefits Of Having Grenadian Citizenship And Passport?

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Citizenship by Investment in Grenada is an incredible opportunity that opens a world of benefits. Whether you choose to live there or just take advantage of having a second passport, the benefits of citizenship are countless. From visa-free or visa on arrival travel to 143 countries and territories, visa treaties with the US and China, to a variety of financial benefits, citizenship in Grenada offers increased mobility, generous taxation, business opportunities, and a wonderful quality of life. Here are some key benefits:

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Minimal Program Requirements

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• Not necessary to visit Grenada as part of the application process

• No required physical residence or mandatory visits to Grenada during the application process. Citizens may, if they choose, live, work, study, and do business in the country, or in any Caribbean Economic Community (CARICOM) member state.

• Fast application processing within 3-5 months

• No restrictions on dual citizenship

• No education or management experience required      

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Financial

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• The Grenadian economy is stable and currently expanding in areas including tourism, agriculture, and manufacturing

• Currency is stable and tied to the US dollar

• No taxes on income earned abroad

• Generous tax system that does not tax on wealth, gift, inheritance, or income

• There are no exchange controls or other restrictions on the inflow or outflow of US dollars.

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Lifestyle

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• As of January 2019, Grenadian citizens had visa-free or visa on arrival travel to 143 countries including the EU Schengen area, the UK, China, Russia, Singapore and the UAE. 

• One of the only countries in the world that has a visa-waiver agreement with China and citizens may remain in China for 30 days, visa-free.

• Only citizenship by investment program that has an E-2 Investor treaty with the US, meaning that Grenadian nationals can start a business in the US and live there to operate it. E-2 Investor Visa applicants must invest in and own at least 50% of an active business in the US. Once their E-2 visa application is approved, applicants can live in the US in order to operate their business. The E-2 visa is extended to spouses and children, who can both work and attend schools anywhere in the US.

• You can live permanently in Grenada if you want to

• Family-inclusive program that is extended to immediate dependent family members including your spouse and children below 30, and dependent parents above the age of 55

• Lower tuition fees at St. George University. It is the first private Caribbean medical school. It has over 18,000 graduates in medicine, veterinary medicine, public health, and other professions. It’s the 4th largest source of doctors for the entire US workforce and boasts a record number of residency placements. St. George’s is accredited worldwide including countries like The United States, Canada, the UAE, Britain, and many others. 

• High quality of life

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Business

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• Member of the United Nations, the British Commonwealth, CARICOM and the Organization of American States (OAS) among many other international organizations

• No restriction on the repatriation of profits and imported capital

• Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance

• Duty-free trading