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Grenada

About Grenada

CapitalSt George's
Total Area348.5 km²
Population107,317
LanguagesEnglish, Grenadian Creole English, Grenadian Creole French
CurrencyEast Caribbean Dollars (XCD)

Popularly known as the Spice Island because of its myriad locally grown spices, Grenada offers one of the most picturesque waterfronts in all the Caribbean. The sublime scenery is but one of the many enticements to visit the three beautiful main islands. Diving, sailing, excellent restaurants, fabulous beaches, and a calendar of unforgettable festivities add to the many reasons why Grenada has become a preferred destination for many high net worth investors. 

The Grenada Citizenship-by-Investment Program was relaunched in 2013 with the passing of the Citizenship by Investment Act, 2013.

Eligibility Criteria 

The Main Applicant must be: 

  • Be over the age of eighteen (18) 
  • Be of outstanding character and hold no criminal record 
  • Have excellent health
  • Have a high personal net worth

Dependents 

The dependents which can be included in the application are: 

  • Main Applicant’s Spouse; 
  • a child of the Main Applicant, or of his or her spouse, who is less than 18 years of age; 
  • a child of the Main Applicant, or of his or her spouse, who is at least 18 and less than 30 years of age and supported by the Main Applicant, or his/her spouse; 
  • a child of the Main Applicant, or of his or her spouse, who is at least 18 years of age and is physically or mentally challenged, and who is living with and fully supported by the Main Applicant; 
  • a parent or grandparent of the Main Applicant or his or her spouse above the age of 55 years old and fully  supported by the Main Applicant or his or her spouse; 
  • a parent or grandparent of the Main Applicant or his or her spouse not exceeding 55 years old and fully supported by the Main Applicant or his or her spouse; 
  • a sibling of the Main Applicant or his or her spouse whether biological or adopted who is at least 18 years of age, and single with no children. 
  • a child born of the Main Applicant or his or her spouse within 12 months of the grant of citizenship.

Process and Timeframe 

The application process shall be constituted of the following three (3) main steps, to be taken one after each other: 

  1. The initial due diligence shall be completed, and the Client Agreement shall be signed. 
  2. The documentation required for submission shall be prepared and the application shall be submitted. Once approval has been granted, the required investment then needs to be engaged 
  3. Once investment is initiated, the citizenship application shall be submitted. Naturalization certificate and passport will then be granted shortly after. 

Investment Required 

One of the following two investment options must be chosen: 

  • National Transformation Fund (NTF) contribution option: A minimum non-refundable contribution to the NTF of one hundred and fifty thousand United States dollars (USD 150,000) for a single applicant, or two hundred thousand United States dollars (USD 200,000) for a family of up to four members 
  • Real Estate Option: To acquire property from a government approved real estate project for a minimum of two hundred and twenty thousand United States dollars (USD 220,000) per investor in a joint investment, and a minimum non-refundable contribution of fifty thousand United States dollars (USD 50,000) 

Benefits 

  • Short timeframe to obtain citizenship – between 2 to 6 months. 
  • The beneficiaries of this citizenship by investment program shall be granted visa-free access to 143 countries around the world including China, United Kingdom (UK) and Europe’s Schengen Area 
  • Grenada is the only Caribbean country with a citizenship-by-investment program which holds an E-2 Investor Visa treaty with the United States (US), allowing citizens to be eligible to apply to the US for a non-immigrant investor visa 
  • Citizenship may be passed on to new spouses and future generation. 
  • No physical residency requirements. 
  • Attractive tax regime as no tax shall be imposed on the applicant’s worldwide income.

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