Grenada-citizenship-by-investment-program

Grenada Citizenship by Investment Program

Grenada at Glance

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.

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.

Grenada Citizenship Program - 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.

Grenada-the-spice-island

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 US$150,000 for a single applicant, or US$200,000 for a family of up to 4. Any additional dependent requires an extra US$25,000 per person.

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

Application Fees: US$1,500 per person

Processing Fees:

  • Main applicant – US$1,500
  • Spouse – US$1,500
  • Dependent 18 and over – US$1,500
  • Dependent under 18 – US$500

Due Diligence Fees:

  • Main applicant – US$5,000
  • Spouse – US$5,000
  • Dependent 18 and over – US$5,000
  • Dependent under 18 – US$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 3 years from when you are granted citizenship.

The real estate development option requires an investment of at least US$350,000 in an approved government development project.

In addition to the investment, the following application, government, processing and due diligence fees are required:

Application Fees: US$1,500 per person

Government Fees:

  • US$50,000 for main applicant and up to 3 dependents
  • US$25,000 for each additional dependent

Processing Fees:

  • Main applicant – US$1,500
  • Spouse – US$1,500
  • Dependent 18 and over - US$1,500
  • Dependent under 18 - US$500

Due Diligence Fees:

  • Main applicant – US$5,000
  • Spouse – US$5,000
  • Dependent 18 and over – US$5,000
  • Dependent under 18 – US$2,000

The real estate option provides an easy exit strategy as the property can be resold 3 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.

Qualifications & Conditions to Apply

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

 

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.

Eligible Dependents

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

  • Spouse
  • Children under 18
  • 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 above the age of 55 - no longer required to be financially dependent on the main applicant

 

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

Supporting Documents

  • 10 recent passport-sized color photos
  • 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)

Passport

The Passport fee is US$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.

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.

What are the benefits of having Grenada citizenship and passport?

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 travel to 131 countries, 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:

Minimal Program Requirements

  • Not necessary to visit Grenada as part of the application process
  • No physical residency requirement
  • Fast application processing within 3-5 months
  • No restrictions on dual citizenship
  • No education or management experience required

Financial

  • 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

Lifestyle

  • Visa-free travel to over 120 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
  • 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
  • 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
  • High quality of life

Business

  • 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
how-to-get-Grenada-citizenship

The perfect setting for adventure, leisure and business, Grenada is an aromatic paradise with stunning natural beauty, picturesque beaches, and a vibrant lifestyle. A prime destination in the Caribbean, Grenadian citizenship offers many benefits to its investors. Citizenship by Investment in Grenada is an ideal pathway to expand your mobility, protect your wealth, increase your freedom and enhance your quality of life.

If you are interested in learning more about the Grenada Citizenship by Investment Program, please contact us today for your free initial consultation.

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