Citizenship by Investment: Grenada

Inspired by the economic growth generated in other regional Citizenship By Investment programs, Grenada created its own Citizenship by Investment program in 2013. As it approaches the 10-year anniversary, Grenada’s economic citizenship scheme continues to offer a second passport to investors looking to achieve—among other benefits—visa-free access to China and access to the United States through its E-2 visa treaty (the scheme’s unique advantages relative to other regional CBI programs). In just four to six months, investors may achieve a Grenada passport via donation to the country’s National Transformation Fund or by purchasing real estate on the island.

About Grenada

Grenada is known as the “Spice Island” of the Caribbean because of its production of spices like nutmeg, and is equally famous for its gorgeous beaches. The area consists of several islands, with Grenada being the largest, and has a population of just over 112,000 people, the majority of whom speak English. Its currency is the Eastern Caribbean Dollar (ECD).

Advantages to Grenada Citizenship   

Citizens of Grenada enjoy the following benefits through their Grenada passport:

·       Visa-free entry to China, the Schengen area and the United Kingdom, and 140+ countries around the world

·       Increased opportunities for US entry via the E2 investor visa

·       Reduced tax burdens

·       Zero residency requirements

·       Siblings and grand-parents may be included in the application

·       Dual citizenship

·       Hereditary citizenship 

Grenada Citizenship Options 

1.      Donation

• ·       The donation option involves making a monetary investment in the country’s National Transformation Fund (NTF), a government fund which is directed toward the Grenada economy (investments typically fund the hospitals, the tourism industry, schools, farming, etc.). 
• ·       The Donation amounts/ Government fees are as follows:
• o   $150,000 USD (For the single applicant)
• o   $200,000 USD (For the main applicant and spouse)
• o   $200,000 USD (For a family of four)
• o   $25,000 USD (Per dependent, excluding siblings, and parents/ grandparents under the age of 55)
• o   $50,000 USD (For each dependent parent/grandparent under the age of 55)
• o   $75,000 USD (For each dependent sibling)

2.      Investment in Real Estate

• ·       Foreigners can receive citizenship from Grenada by purchasing real estate on the island (property preapproved by the government). Ownership must be maintained for a minimum of five years after naturalization. Once five years have passed post-naturalization, the property is eligible to be sold. 
• ·       The property costs for the Real Estate option are as follows:
• o   $220,000 USD (Minimum investment value of selected property)
• o   $350,000 USD (Higher minimum investment value of selected property)
•  
• ·       In addition to the cost of the property above, a government fee is applied as follows:   
• o   $50,000 USD (For a single applicant)
• o   $50,000 USD (For main applicant and spouse) 
• o   $50,000 USD (For a family of four persons) 
• o   $25,000 USD (For each extra dependent, excluding siblings, and parents/ grandparents under the age of 55)
• o   $50,000 USD (For each dependent parent/grandparent under the age of 55)
• o   $75,000 USD (For each dependent sibling)

Please note that, in addition to the fees for both investment options to apply for Grenada citizenship, all applicants are also responsible for the following fees:

• ·       $1500 USD (Application cost)
• ·       $275 USD (Passport fee/Allegiance Oath cost)
• ·       $1500 USD (Processing fee—applies to dependents age 18+)
• ·       $1500 USD (Processing fee—applies to dependents under 18 years)
• ·       $5,000 USD (Due diligence cost for main applicant)
• ·       $5,000 USD (Due diligence cost for spouse)
• ·       $5,000 USD (Due diligence cost per dependent age 17+)

Eligibility Requirements for Grenada Citizenship

All applicants for citizenship via the Grenada CBI program must fulfill the following criteria:

·       Pass a complete security/due diligence check

·       Be without a criminal history

·       Demonstrate the origin of any money used toward their CBI investment 

·       The main applicant must be age 18+

Eligible Family Members

·       Spouse

·       Dependent children under the age of 30

·       Dependent parents/ grandparents

·       Unmarried dependent siblings who are 18 years old and above

How to Apply for Grenada Citizenship

1.      Contact MASA Immigration to begin your journey to Grenada citizenship.

2.      Prepare your application. Your agent will help you acquire, assemble, and fill out all the application materials

3.      Submit your application and all relevant fees.

4.      Once the application is approved, submit all remaining investment fees

5.      Collect your Certificate of Registration and officially become a Grenada citizen

6.      Apply for your Grenada passport (this is done by your agent, who will send your passport to you directly once the application is complete).