Grenada
Citizenship By Donation or Investment
Visa free countries
144 Countries
Population
110,000
Currency
East Caribbean dollars (XCD), tied to USD
Time Zone
UTC-4
The Grenada Citizenship by investment program offers visa-free access to major business hubs across the world, including China, Singapore, Russia, and the UK. Secondly, Grenada does permit dual citizenship and also does not impose restrictions on any particular nationality. Citizenship hopefuls can either opt to make a non-refundable contribution to the NTF or make an investment in a government-approved real estate project within the country. P&S Invest is an official partner of the Grenada Citizenship by Investment Committee (CBIC) and can help aspirants acquire a second passport from the country without any heckles.
With silky white beaches, exotic wildlife, and picturesque colonial-era architecture, Grenada offers itself as the perfect location to those who seek a change of scenery. As mentioned, the country offers one of the most robust citizenship by investment programs in the Caribbean. Not only does it permit visa-free entry to China, but a Grenada passport holder can also reside and operate a business in the USA. Grenada follows an open economic system with the service sector, contributing nearly 70% to its GDP. The country is across the world as a significant nutmeg and mace exporter. A representative parliamentary democracy under a constitutional monarchy governs Grenada. The country is a full-time member of several international organizations such as the CARICOM, OECS, UN, and the Commonwealth of Nations.
Under the Grenada Citizenship by Investment Program, applicants can pursue two routes to attain a passport from the country.
NTF = The National Transformation Fund was established in 2013 to help improve the country’s economy. Donating to the NTF is not only the fastest route to acquire Grenadian citizenship, but it also the most affordable of the two available options. A single applicant must make a non-refundable contribution of USD 150,000. The required donation increases based on the number of dependents.
Real Estate = The applicant must purchase a real estate property in the country that is worth at least USD 220,000. The property can be put on sale after five years from the initial date of purchase. Applicants are required to pay additional government fees (subject to change based on the dependents) for the approval of their application.
Grenada currently has in place an E-2 Investor Visa Treaty with the US, which enables Grenadians to work and reside in the US without any restrictions. Listed are some of the other significant advantages of becoming a Grenada national.
- Applicants are not required to be physically present in the country during the time of application.
- Dual citizenship is permitted within the country.
- Individuals that acquire Grenadian citizenship by investment are not required to live in the country and can remain in their own country of residence.
- Grenada does not levy global income tax from non-residents.
- No language or interview requirements.
- Citizenship rights can be passed on to future generations.
- A Grenadian passport is valid for five years and can be renewed thereafter.
Legal Basis
In a bid to attract foreign investment, Grenada first launched its citizenship by investment program back in 1997. However, the program was enshrined by law only in 2013 when the Grenadian Parliament passed the ‘Grenada Citizenship by Investment Act, 2013. Subsequent amendments have been made to the act since then, and now an applicant can receive citizenship from the country in under two months. It should also be noted that in addition to approval from the CBIC, applicants also require validation from the Government of Grenada.
General Requirements to Acquire a Secondary Grenada Passport
In addition to satisfying the necessary investment criterions, there are some requirements that each applicant must fulfill to gain citizenship from the country.
- The Applicant should be at least 18 years of age.
- Should not have any criminal record against his/her name.
- Should clear the due diligence checks.
- Must be able to confirm his/her investment sources.
- Should be of good health.
Following dependents are eligible to acquire a Grenadian passport along with the main applicant:
- Spouse of the applicant.
- Children under the age of 30.
- Parents above the age of 55.
- Unmarried Childless Sibling 18 years old and above.
Timeline
The Grenada citizenship program caters to high-net-worth individuals who wish to travel and do business across the world without any restrictions. A secondary passport can also prove fruitful to those who want to optimize their tax liabilities.
Month 01
- Prequalification check of the applicant and dependents.
- Preparation of all the necessary documentation.
- Reservation of the property or payment of due diligence fees and related fees.
Month 02-03
- The application is officially submitted to the CBIC.
- Due diligence and background checks are conducted through an international third-party due diligence service.
- The application is approved.
Month 04-05
- The required donation is made to the Government of Grenada, or the necessary payment is made to the real estate developer.
- The applicant and his dependents are granted Grenada citizenship and passport.
Month 06
- All pending fees are cleared after the passport has been delivered.
Grenada Investment Options
Contribution to National Transformation Fund*
Single Applicant
$183 270
Family of 4 (Main applicant + Spouse + 2 Children under 12 yrs)
$251 080
Real Estate Investment*
Single Applicant
$303 270
Family of 4 (Main applicant + Spouse + 2 Children under 12 yrs)
