If settling in Grenada is what you are after, you must know about Grenada Citizenship by Investment.
Grenada is a striking island with exotic, awe-inspiring beaches, diverse topography, and a year-round temperate climate. Grenada is an English-speaking Commonwealth nation having a common law legal system. It has a small economy, which is based on tourism.
Popularly known as the “Spice Island”, Grenada offers one of the Caribbean’s most pictorial waterfronts. The sublime scenery is what catches the fancy of people looking to explore this Caribbean country. It is one of the several reasons to visit the three stunning main islands. Many high-net-worth individuals (HNWIs) prefer this amazing destination for investment as it offers them a lot of facilities. These include diving, sailing, outstanding restaurants, and a calendar of treasured festivities.
About Grenada Citizenship by Investment
Referred to as the ‘Spice Isle’ of the Caribbean, Grenada has become the most preferred destination for investment. The Grenada Citizenship by Investment Program is the first choice for those families who are interested in obtaining a second passport at a competitive price in a short span of time. This program has been restructured and re-launched in 2013, and it rapidly became the option of choice for individuals across the globe, but especially those from South East Asia.
Citizenship in Grenada can be obtained in exchange for an investment in the Caribbean. This investment can be a donation to the government fund that starts at $150,000 or a real estate purchase starting from $220,000.
The Grenada Citizenship by Investment program proves beneficial for investors and their family members, providing them with a second passport. It allows visa-free access to 140 countries such as the UK, China, Russia, Singapore, and EU Schengen nations. The citizens of Grenada can apply for USA E2 Visa as well.
Options for Grenada Citizenship by Investment
Option 1: The National Transformation Fund (Donation)
The NTF (National Transformation Fund) was formed to help sustain the economy’s growth and transformation in Grenada. The Funds are used for financing diverse projects across several industries such as agriculture, alternative energy, trade, and tourism.
A contribution (non-refundable) depends on the number of dependents included in the application:
| Single applicant | USD$150,000 |
| The main applicant and spouse | USD$200,000 |
| Family of four | USD$200,000 |
| Additional dependents (except parents and siblings/grandparents under 55 years of age) | USD$25,000 per applicant |
| Dependent parents/grandparents under 55 years of age | USD$50,000 per applicant |
| Dependent siblings | USD$75,000 per applicant |
Option 2: Real Estate Investment
The applicant is required to make an investment in a government-approved real estate project within the country at a minimum value of USD$220,000 or USD$350,000, you may re-sell that real estate Grenada Citizenship by Investment Program after five years of obtaining citizenship.
Below mentioned are the government fees applied, which depend on the number of dependents included in the application:
| Single applicant | USD$50,000 |
| The main applicant and spouse | USD$50,000 |
| Family of four | USD$50,000 |
| Additional dependents (except parents and siblings/grandparents under 55 years of age) | USD$25,000 per applicant |
| Dependent parents/grandparents under 55 years of age | USD$50,000 per applicant |
| Dependent siblings | USD$75,000 per applicant |
Benefits of Grenada Citizenship by Investment
Grenada recognizes dual citizenship. This signifies investors can still take advantage of their current passports. The Grenada Citizenship by Investment program offers some of the most significant benefits mentioned below:
Visa-Free Travel to the UK, The Schengen Countries, and China
The citizens of Grenada can enter 140 countries without visas. These include the UK, the Schengen states, Singapore, and Hong Kong. Also, a stay in China without a visa is up to 37 days.
E-2 Business Visa to the USA
Grenada citizens can qualify for an E-2 visa to the United States. This visa enables them to not only live but work in the country as well. Applicants can purchase or establish a business in the USA. However, the minimum amount to be invested is not, but at least $100,000 is usually required. The majority of foreign nationals can apply only for an EB-5 visa, which requires a business investment of no less than $800,000.
10-year US Tourist Visas
Cosmopolitans holding a Grenada passport can get a B-1/B-2 tourist visa to the United States. With this visa, the holder can travel around the world, attend business meetings, and get medical treatment as well in American clinics for up to 180 days a year.
Registration of a Company Abroad
Investors frequently register global organizations in Grenada to lower tax payments and keep from currency control restrictions when it comes to making transactions with foreign partners. Furthermore, it assists in keeping the investor’s privacy safe as the beneficial owner’s general data is not entered into the commercial register.
Tax Optimisation
One of the most significant benefits of the Grenada Citizenship by Investment program is it does not have taxes on dividends, global income, interest, or royalties received from other nations. The best part is there are no taxes on inheritance, income, stamp duty, and capital gains. Companies adhere to different rules, but they are still more advantageous in Grenada than in several other nations.
140+ Visa-Free Countries for the Citizens of Grenada
Asia
- Hong Kong
- China
- Malaysia
- Singapore
- Sri Lanka
- +16 countries
Africa
- Cape Verde
- Kenya
- Seychelles
- Tanzania
- Zambia
- +21 countries
Europe
- Austria
- Belgium
- Germany
- France
- United Kingdom
- +40 countries
Oceania
- Cook Islands
- Fiji
- French Polynesia
- New Caledonia
- Solomon Islands
- +7 countries
North America
- Barbados
- Bermuda
- Cayman Islands
- Costa Rica
- Jamaica
- +20 countries
South America
- Argentina
- Bolivia
- Brazil
- Columbia
- Peru
- +10 countries
Requirements for Grenada Citizenship by Investment
Here is a list of requirements for the Grenada Citizenship by Investment program:
- The main applicant is required to be 18 years old or above
- The main applicant should prove that they have sufficient funds to make the required investment. They must prove the legal source of these funds.
- The main applicant and dependents do not suffer from communicable diseases and/or severe health problems
- The main applicant must not have been convicted in any country of an offense, with a custodial penalty of more than 6 months imprisonment unless they have received a free pardon
- The main applicant must not be subject to a criminal investigation
- The main applicant must not be considered a risk to potential national security
- The main applicant must not be involved in any activity, which can probably cause disrepute to Grenada
- The main applicant must not have been denied a visa to a nation with which Grenada has visa-free access
Documents Required for Grenada Citizenship by Investment
The following are the requirements you need to apply for the Grenada Citizenship by Investment program:
- ID Card Certified Copy
- Passport Certified Copy
- Medical Certificate
- Ensure that you include an Original or a Certified Copy of your Marriage Certificate (if applicable)
- Make sure you include an Original or a Certified Copy of your Birth Certificate (if applicable)
- Original Police Clearance Certificate
- Original Bank Reference Letter (must not be older than 6 months)
- 6 Passport-Size Photos
- Statement Proving the Source of Funds
- Photograph and Signature Certificate
- Support Affidavit for Dependents
- Confirmation of Investment / Escrow agreement
- Evidence for payment of processing and due diligence fees (nonrefundable)
Official transcripts of written confirmation from an authorized education center (dependents over 18 years of age) The investment program in Grenada enables investors to become global citizens by acquiring citizenship and being granted a second passport. When you have dual citizenship, you will take immense pride in calling this breathtaking island nation your home country. Citizenship by investment in Grenada offers a myriad of great advantages.
