Grenada Citizenship by Investment
Overview
Grenada, the beautiful 3-island nation known as the “Isle of Spice” has joined the ranks of St Kitts & Nevis and introduced their citizenship by investment program in 2013. Grenada is a colorful nation offering unspoiled beaches and rainforests and their economy is driven by agriculture and tourism. Grenada is the only Caribbean Island that offers successful applicants of the citizenship program to relocate to the US under the E2- Treaty visa.
Grenada’s citizenship has quickly become known as one of the best citizenship programs in the world offering a fast-track process where applicants can obtain the passport in 3-4 months.
Grenada citizenship advantages
- Investment is only required after the application approval
- Dual citizenship
- Visa-free travel to over 140 countries including the China, EU & the UK
- Right to live, work and study in Grenada and any of the CARICOM member countries
- Confidential (Grenada does not notify your home country)
- Passed to future generations
- Remote application and no residency requirements
- Member country of the coveted E2- Treaty Visa
- Grenada offers one of the best US offshore universities, St George´s University
Some requirements
Applicants proceeding with the citizenship by investment program must be at least 18 years of age and hold a clean criminal record. The Grenada Citizenship by Investment Committee conducts a thorough due diligence process to ensure only the highest moral standing applicants can proceed. Applicants are required to provide personal documentation such as passports, national IDs, birth and marriage certificates, and proof of funds.
Grenada investment options
Along with the required documentation, applicants have the choice of proceeding with 2 investment options.
The first investment option includes a non-refundable donation to the NTF (National Transformation Fund) starting at USD$ 150,000. The amount will increase according to the number of dependents included within the same application. The NTF is a government fund that focuses on the overall wellbeing of the economy and supports projects within the tourism, agriculture, and alternative energy sectors.
Investing in government-approved real estate projects in the tourism sector is the second investment option. Investors can opt for an investment of USD$ 220,000 and maintain the investment for 5 years or invest USD$ 350,000 if the applicant prefers to have full ownership rights of a government-approved real estate unit. After a set period of time, investors can choose to sell the investment without affecting their citizenship status.
Process and timeframe
The Citizenship Committee offers a simple and straightforward process. Once applicants have obtained all required documentation as well as chosen their investment route, they must submit their application through an authorized local agent (as required by law). The typical timeframe is 3-4 months and once the application is approved, applicants can proceed with their chosen investment and acquire their Grenada passport.
Some cost and fees for Grenada Citizenship
Applicants are required to pay associated fees, for example:
Due diligence fee
- Main applicant: USD$ 5,000
- Dependent over 17 years of age: USD$ 5,000
Application and processing fee are also required:
- USD$ 1,500 per applicant over 18 and USD$ 500 per applicant under 18 years of age
If proceeding with the real estate investment option, applicants are required to pay a property application fee.
- Family up to 4 members: USD$ 50,000
- Each additional dependent: USD$ 25,000
- Parent over 55 years of age: USD$ 50,000
- Sibling: USD$ 75,000
Contact us
Grenada offers an ideal business environment for investors and entrepreneurs alike. Grenada does not tax on income, wealth, inheritance and does not impose any restrictions on the repatriation of profits.
Ready to obtain your Grenada passport? Send us a note to info@kraemerlaw.com