Grenada Citizenship by Investment: Is It My Best Choice?
Those who invest in Grenadian property, or use another pre-approved method, you can become eligible to apply for Grenada citizenship by investment. Learn if this is the right choice for you.
Condé Nast Traveler UK ranked Grenada’s Grand Anse Beach the best in the world in 2019. Did you know that Grenada is also a top destination for citizenship by investment?
You can get citizenship by investment (CBI) in this Caribbean nation by investing in one of the government’s designated options.
Find out why Grenada citizenship by investment is bringing in hundreds of applicants every year. Learn about the benefits of Grenada citizenship and how you can take advantage of this opportunity.
Introducing The Grenada Citizenship by Investment Program
Grenada first started a citizenship by investment program in 1997. The program lost traction after the 9/11 terrorist attacks, but the government relaunched it in 2013 with the Citizenship by Investment Act.
The CBI program was part of the government’s strategy to move Grenada’s economy away from its reliance on agriculture. The government grants citizenship in exchange for investing in the country using one of their pre-approved methods. They hoped that foreign investment would boost tourism and the service sector.
This strategy has succeeded with the growing popularity of Grenada citizenship by investment.
Who Is Eligible for Citizenship by Investment in Grenada?
One advantage of Grenada’s CBI program is that it doesn’t restrict applications based on nationality. Citizens of any country can apply if you meet the requirements of the program.
The main applicant needs to meet eligibility requirements that include:
- Over 18 years old
- No criminal record
- Not under criminal investigation
- Not under sanctions, restrictions, or entry bans to the US, European Union, UK, or Canada
- Proof that you have enough legal funds to make the required investment
- Good health
Another advantage of Grenada citizenship by investment is that you can add many of your family members to your application. For a supplemental fee, you can add:
- Your spouse
- Children and stepchildren younger than 30
- Children with a mental or physical disability, no matter how old they are
- Parents and grandparents aged 55 or older
- Your siblings if they’re over 18, not married, and don’t have children
Family will need to pass the same due diligence checks regarding their background and criminal history as the main applicant.
How to Get Grenada Citizenship
The Grenada citizenship by investment program gives you two straightforward options for obtaining your Grenadian passport. You can either donate to a government fund, or you can invest in real estate.
Making a Donation
The first route to getting Grenadian citizenship is by making a one-time, non-refundable donation to the National Transformation Fund. The fund helps Grenada and its people by financing projects that benefit the economy and help it to diversify.
The amount you need to donate depends on how many people will be getting citizenship.
The required amount is $150,000 for a single applicant or $200,000 for a family of up to four people. Additional children are $25,000 each. You will pay $50,000 for each of your parents and $75,000 each for any eligible siblings.
Real Estate Investment
Your second option for Grenada citizenship by investment is through real estate. You can invest in various real estate projects that the government has approved for foreign investors. These projects are primarily resorts, hotels, and villas.
You need to hold the property for at least five years.
You only need to invest $220,000 if you choose shared/fractional ownership which gives you a deeded share of a certain percentage of the property.
You have the right to use the property for a defined amount of time each year or to collect rental income from that time. You can sell or transfer ownership of your fraction.
If you invest in real estate as the sole property owner, you’ll need to invest at least $350,000.
Whether you choose shared or single ownership, you’ll pay a $50,000 administrative fee. Each additional person in your application will add $25,000 to your total cost.
Both the donation and real estate options have application and processing fees:
- $1,500 application fee, no matter how many people are applying
- $1,500 processing fee for a single applicant or couple
- $1,500 processing fee for each dependent 18 years or older
- $500 processing fee for each dependent under the age of 18
- $5,000 due diligence fee for each applicant 17 years old or older, including dependents
For example, a single applicant making a donation will pay $158,000 after taking the fees into account.
We are happy to provide a complete detailed personal illustration of the total cost for you – Request Confidential Quotation.
Application Process for Grenada Citizenship by Investment
Grenada’s CBI program has one of the fastest processing timelines of any Caribbean country. You can get citizenship in Grenada without any kind of residency requirement. Also, you don’t need to go to Grenada as part of the application, and the CBI program doesn’t require an interview.
As a result of the COVID-19 pandemic, Grenada moved the entire application process online. You must submit your application through an authorized international marketing agent who will work with a licensed local agent during the application process. Your authorized agents will submit your application to the Citizenship by Investment Committee.
We work closely with you during the first step in the application process which is considered a pre-check, this has streamlined what used to be a much longer process. You will be required to submit documents to us verifying your identity, lack of criminal history, and your financial position.
The Grenada citizenship by investment unit can start the due diligence checks once they receive these documents.
Submit the Full Application
If you’re using the real estate option, you can reserve the real estate you want to buy with a Purchase and Sale Agreement once your pre-check is underway. You will need to pay the program fees when you submit your complete application.
Finalize the Application
When the government approves your application, you need to pay the remaining fees. You can then make your donation to the National Transformation Fund or finalize your real estate purchase, and you’ll receive a certificate within 30 days that will let you request your passport.
The entire application process usually takes around three months.
Benefits of Grenadian Citizenship
Citizenship by investment in Grenada has several advantages that make it stand out from other CBI programs.
- You can travel without a visa to over 135 countries, including Russia and China.
- You can also gain access to the US with an E-2 investor visa.
- You can maintain dual citizenship, and Grenada does not inform the country of your current citizenship that you have become a Grenadian citizen.
- The tax system in Grenada is very friendly to foreign investors. The country doesn’t have wealth, gift, inheritance, or capital gains taxes, and you don’t pay tax on income from outside Grenada.
- Grenada has a stable government and a solid international standing.
- It also has exceptional natural beauty with a favorable climate.
- It’s located outside the main hurricane belt, which gives you additional peace of mind as an investor.
If you plan to relocate to Grenada, it’s a very safe country. In addition, it is home to St. George’s University, which has one of the world’s top medical programs.
Starting the Process for Your Grenada Citizenship
Grenada citizenship by investment is an attractive option. When you’re ready to decide if it’s the best choice for you, we will help you at each step of your journey. The principals of our company, American Investment Migration, have been helping our clients obtain their chosen citizenship for over a decade.
Contact us today to schedule a private consultation.