Did you know the Spice Island isn’t just renowned for its nutmeg but is also a golden key to global mobility?
The Grenada citizenship by investment program unlocks unparalleled opportunities for investors to traverse the world with ease.
This article unpacks the standout features of this program, its distinct advantages, eligibility criteria, and requirements. If you’re considering getting a second passport in the Caribbean, read on to discover why Grenada citizenship is an ideal alternative.
Grenada Citizenship by Investment Explained
The Grenada citizenship by investment program is a governmental initiative that allows individuals, and often their families, to acquire Grenadian citizenship.
Participants typically choose between two main avenues: investing in government-approved real estate projects or contributing directly to the country’s development through the National Transformation Fund.
The program is considerably sought after since acquiring a Grenadian passport has its privileges. Not only does it allow visa free or visa-on-arrival access to 143 countries, including significant regions like the Schengen Area, but it also simplifies the process for obtaining the USA’s E-2 Treaty Investor Visa. Furthermore, Grenada’s tax policies, which exclude foreign income and inheritance taxes, make the program especially attractive to international investors.
Benefits of Grenada Citizenship by Investment
- Global Mobility Boost
With a Grenadian passport, holders enjoy visa free or visa-on-arrival access to numerous countries, including coveted destinations in the Schengen Area. This facilitates smoother global travel and reduced bureaucracy.
- Gateway to the USA
Grenadian citizens have an edge when seeking the USA’s E-2 Treaty Investor Visa. This essentially means a more streamlined route to business and residency opportunities within the United States.
- Taxation Advantages
Grenada does not impose taxes on foreign income, wealth, or inheritance. This is a distinct benefit for global investors looking to optimize their financial strategies and protect their assets.
- No Residency Requirement
Unlike some other citizenship programs, Grenada doesn’t mandate a prolonged physical presence or permanent residency in the country. This flexibility is ideal for investors who value mobility.
- Family Inclusion
The program isn’t just for individual investors. Immediate family members, such as a spouse, dependent children, and even some dependent parents, can be included in the application, ensuring citizenship benefits extend to loved ones.
- Economic Boost
By investing in government-sanctioned real estate projects, participants directly contribute to the nation’s economic growth, potentially seeing returns on their investments while simultaneously securing citizenship.
- Dual Citizenship
Grenada recognizes and permits dual citizenship. Investors can maintain their original nationality, ensuring they have a wider net of global rights and recognition.
- Safety and Stability
Grenada boasts a stable political environment, low crime rates, and a welcoming community, making it not just an investment hub but a potential home for those considering relocation.
- Natural Paradise
Beyond the tangible benefits, obtaining Grenadian citizenship provides an affiliation with an island nation known for its scenic beauty, pristine beaches, and rich cultural heritage — an added incentive for nature and culture enthusiasts.
Eligibility Criteria for Grenada Citizenship by Investment
- Applicants should be 18 years or older.
- Must be in a satisfactory health condition.
- Possess the requisite funds for the necessary investment, with a provable legitimate source for said funds.
Grenada Citizenship by Investment: Requirements
- Investment Thresholds
Applicants must meet specified investment amounts, either by contributing to the National Transformation Fund or investing in government-approved real estate projects.
- Clean Legal Record
Candidates must have a clean criminal record, substantiated by a comprehensive police background check from their home country and any other countries where they’ve lived for six months or more over the past decade.
- Proof of Funds
All applicants need to provide documented proof that their funds were sourced legally, reinforcing the program’s commitment to ethical and transparent processes.
- Medical Clearance
Candidates and any family members included in the application should undergo a medical examination, ensuring they’re free from any contagious disease.
- Due Diligence Fee
A non-refundable due diligence fee is required, ensuring a thorough vetting of the applicant’s background.
- No Mandatory Residency
While Grenada doesn’t require candidates to reside in the country prior to or post approval, they must be willing to maintain their investment for a stipulated period.
- Include Dependents
Immediate family members can be included, but they, too, must meet certain criteria, particularly regarding their relationship to the main applicant, age limits, and health conditions.
Required Documents for Grenada CBI Program
- Grenada CBI application form, completed and signed by the main applicant and any dependents
- Valid passports, birth certificates, and marriage or divorce certificates (if applicable)
- Documentation evidencing the source of funds and the legitimacy of the investment
- Comprehensive health checks for all applicants, confirming they’re free from any contagious diseases
- A clean criminal record verified by police certificates from the applicant’s home country and any country where they’ve resided for more than six months in the last decade
- A declaration detailing the applicant’s financial history, assets, and liabilities
- Letters of recommendation from personal and professional acquaintances, such as a banker, lawyer, or accountant
- Documents like employment letters, pay slips, or tax returns, verifying current or past occupations and earnings
- If residing elsewhere at the time of application, provide evidence like utility bills or rental agreements
- Recent and clear passport-sized photos as per the stipulated guidelines
- Ensure all relevant documents are appropriately notarized
Reasons for Disqualification in the Application Process:
- Deceptive Application Data: Submitting misleading or inaccurate details in the application
- Prior Legal Offenses: History of convictions with jail terms comparable to six months in Grenada, except if fully pardoned
- Current Legal Probes: Being under any active criminal investigations.
- Security Concerns: Seen as a potential security threat to Grenada or other nations
- Harming Grenada’s Image: Participation in activities damaging to Grenada’s reputation
- Visa Denial Issues: Refused visas from countries offering visa free access to Grenadians, unless later rectified
Investment Options
National Transformation Fund (NTF) Donation
The NTF Donation Option for Grenada’s Citizenship by Investment (or citizenship by donation) program offers a philanthropic path to Grenadian citizenship. Designed to cater to various family sizes, the investment begins at $150,000 for individuals.
With costs incrementing based on family members, applicants also incur fees for application, due diligence, and processing. Tailored for diverse applicants, it ensures streamlined citizenship access while supporting Grenada’s national development.
| NTF Donation | Single Applicant | Main Applicant and Spouse | Family of Four | Family of More Than Four Members |
Amount of Required Contribution | $150,000 | $200,000 | $200,000 | $200,000 + $25,000 per additional dependent after the 3rd dependent |
Application Fee | $1,500 | $1,500 per person | $1,500 per person | $1,500 per person |
| Due Diligence Fee | $5,000 | $5,000 per person | * Dependent child 0 – 16 $0* Dependent 17 and over $5,000 | |
| Processing Fee | $1,500 | $1,500 per person | $1,500 per person 18 and over, $500 for persons under 18 | $1,500 per person 18 and over, $500 for persons under 18 |
Government-Approved Real Estate Project Investment
The government-approved real estate project option offers a tangible investment pathway to Grenadian citizenship. By investing in sanctioned properties, applicants not only secure citizenship by investment, but also a valuable asset. There are two real estate investment options, with minimum investment amounts being $350,000 and $220,000.
| Real Estate Option I | Single Applicant | Main Applicant and Spouse | Family of Four | Family of More Than Four Members |
| Amount of Required Contribution | $350,000 | $350,000 | $350,000 | $350,000 |
| Government Fee | $50,000 | $50,000 | $50,000 | $50,000 + $25,000 per additional dependent after the 3rd dependent |
Application Fee | $1,500 | $1,500 per person | $1,500 per person | $1,500 per person |
| Due Diligence Fee | $5,000 | $5,000 per person | * Dependent child 0 – 16 $0* Dependent child 17 and over $5,000 | |
| Processing Fee | $1,500 | $1,500 per person | $1,500 per person 18 and over, $500 for persons under 18 | $1,500 per person 18 and over, $500 for persons under 18 |
| Real Estate Option II | Single Applicant | Main Applicant and Spouse | Family of Four | Family of More Than Four Members |
| Required Contribution Amount for Section 11 | Minimum of $220,000 (for each share in the unit) | $220,000 (for each share in the unit) | $220,000 (for each share in the unit) | $220,000 (for each share in the unit) |
Government Contribution for Section 11 Approved Project Investment | $50,000 | $50,000 | $50,000 | $50,000 + $25,000 per additional dependent. |
How to Obtain Grenada Citizenship by Investment
- Choose an Investment Route: Decide between the National Transformation Fund (NTF) donation option or investing in government-approved real estate projects, depending on your individual needs and circumstances.
- Gather Necessary Documents: Collect all required documentation, including a valid passport, birth certificate, health examination results, and police clearance.
- Submit Application: Through your agent, submit the Citizenship by Investment application form, along with all the necessary documents and the relevant processing fees.
- Undergo Due Diligence: The Grenadian government will perform a rigorous background check. This step also requires all the applicants who are 17 and over to attend a mandatory interview.
- Wait for Approval: After due diligence, wait for the Committee’s decision. The approval process usually takes a few months.
- Make the Investment: Upon receiving an approval letter, proceed with the chosen investment, either by making a donation to the NTF or completing the real estate transaction.
- Receive Citizenship Certificate & Passport: After taking the oath, you’ll be issued a Certificate of Registration, confirming your Grenadian citizenship. Following this, you can apply for and receive your Grenada passport.
- Maintain Your Investment: If you’ve chosen the real estate option, ensure you hold onto the property for the 5-year mandatory period to retain your citizenship status.
Get passvisa: How We Can Help
Get passvisa is a bespoken investment consultancy firm, assisting individuals in acquiring dual residency and citizenship by facilitating the necessary investments, whether in real estate, subscribing to funds, or other financial ventures.
Contact our team of professionals for assistance throughout your CBI application process.
The Bottom Line
In summary, Grenada’s Citizenship by Investment program offers a unique opportunity to secure a second citizenship in a beautiful Caribbean nation. Whether through a heartfelt contribution to the National Transformation Fund or an investment in prime real estate, participants gain not just a passport, but a gateway to global mobility and potential financial advantages.
As the world becomes more interconnected, having dual citizenship becomes an invaluable asset. If you’re contemplating a strategic move for your future, now is the time to consider Grenada.
Frequently Asked Questions
- What is the primary purpose of Grenada’s National Transformation Fund?
The fund is integral to the Grenada citizenship program, designed to financially bolster and drive projects for Grenada’s sustainable growth, enhancing its appeal to investors.
- How does the real estate investment route in the Grenada citizenship program work?
The real estate investment option requires investors to buy approved property in Grenada. After holding for a set duration, they may be eligible to sell it, retaining their Grenada citizenship.
- Can applicants obtain dual citizenship through the Grenada Citizenship program?
The Grenada citizenship program permits dual citizenship, granting you the privileges of a Grenada passport while keeping your original nationality.
- What government fees are linked with the Grenada citizenship program?
The Grenada citizenship program has associated government fees and due dilligence fees, separate from the main investment. These vary based on your choice of investment and the number of dependents included.
- Can dependent children and dependent parents benefit from the Grenada Citizenship program?
The Grenada citizenship program allows for the inclusion of both dependent children and dependent parents, ensuring that families can collectively reap the benefits that Grenada citizenship offers.
- Which countries can Grenada passport holders access without a visa?
Grenada passport holders get the privilege of visa-free access or visa-on-arrival to a multitude of countries, enhancing their global travel ease.
- How does the Grenada CBI program stand out from other Caribbean CBI initiatives?
The Grenada CBI program is distinguished by its diverse investment routes, including real estate investment, and the ability to include dependent children and parents. The contributions to Grenada’s National Transformation Fund also make it special.
- What’s the duration of real estate investment retention in the Grenada citizenship program?
The real estate investment in the Grenada citizenship program typically requires a five-year holding period before it can be resold, ensuring the program’s integrity and long-term benefits for the country.
- Is the citizenship by investment process in Grenada lengthy?
Typically, the Grenada citizenship by investment process is efficient, often completing within 3 to 4 months. However, it might vary based on application details and due diligence results.
- Why is Grenada often a top pick for citizenship by investment in the Caribbean?
Grenada’s reputation as a serene Caribbean country, coupled with the multiple perks offered by its citizenship program, especially in real estate investment, makes it a favored choice for many investors seeking citizenship by investment.
