GRENADA
CITIZENSHIP BY INVESTMENT
OVERVIEW
Grenada is well known as a tourist destination, over one million tourists Grenada welcomes every year. That is why there is a recent boom in tourism coupled with foreign direct investments in Grenada. The offshore financial industry is also on the rise along with significant growth in construction and manufacturing. The Grenadian government is attracting foreign direct investment by working closely with a handpicked selection of businesses in the manufacturing, agriculture, and tourism sectors that make Grenada a preferred destination for many high net worth investors.
Grenada is also well known by St. George’s University, one of the largest medical American universities in the region with over seven thousand students from around the world.
WHY GRENADA CITIZENSHIP BY INVESTMENT?
Launched in 2013 under the regulations of the Grenada Citizenship by Investment Act, their pilot scheme under the Grenada Citizenship by Investment Program is easy and beneficial for qualified investors and their family members. The good news for investors is that they can take advantage of their existing passports since Grenada recognizes dual citizenship. The government of Grenada has a dedicated official website to verify all required information as the following: https://www.cbi.gov.gd/. However, the highlights of the Grenadian Citizenship by Investment Program are as follows:
- Visa-free travel to over 135 countries, including the UK and EU.
- The only country in the Caribbean that has a visa free with China.
- The processing rate is fast and usually happens in 120 days.
- No physical residency requirements.
- No tax on worldwide income.
- Education, management experience, interview, and travelling to Grenada during the application process is not required.
- Children who are challenged physically or mentally and fully dependent on the main applicant can be included.
- Provision to include dependent children under 30 and dependent parents above 55.
- Siblings of the main applicant/spouse above 18 years old, single, and not having children can be included.
- Possibility to live and work in the US through the E-2 visa program signed between Grenada and the United States.
WHAT ARE THE QUALIFICATIONS?
- Main applicant should be above 18 years old.
- Have a high personal net worth.
- Reflect an outstanding character.
- Hold no criminal record.
- Pose excellent health.
- Does not have visa refusal to any country that Grenada has visa free agreement with.
WHAT ARE THE INVESTMENT OPTIONS
1-REAL ESTATE INVESTMENT
Grenada’s economy, once defined by agriculture, is slowly moving to a more service-dominant structure. This enables foreign nationals with a viable option to invest in a pre-approved real estate project
To qualify for Citizenship of Grenada, applicant must invest in an approved project by the government with a minimum investment of USD 350,000 or USD 220,000 in a tourism accommodation centre. And must contribute to the government based on numbers of applicants as the following:
| Up to a family of 4 including main applicant with spouse and dependents up to the age of 30 | USD $50,000 |
| Any additional dependent | USD $25,000 |
| Adding one of the parents | USD $50,000 |
| Adding each sibling | USD $75,000 |
2-NATIONAL TRANSFORMATION FUND (NTF)
Applicants can initiate the process of citizenship by donating a minimum of USD 150,000 to Grenada’s National Transformation Fund. However, this minimum amount is only adequate for the main applicant. For any additional family member, leading up to four people, the requirement is set at an investment of USD 200,000. Above four, any additional dependent would cost an extra donation of USD 25,000.
| Single applicant – contribution | USD $150,000 |
| Family of 4 including main applicant with spouse and dependents | USD $200,000 |
| Any additional dependent | USD $25,000 |
| Adding one of the parents | USD $50,000 |
| Adding each sibling | USD $75,000 |
Applicable Fees in both investment options:
| Due diligence fee for all applicants aged 17 and above | USD $5,000 |
| Application fee per applicant | USD $1,500 |
| Processing fee per person aged 18 and over | USD $1,500 |
| Processing fee per person below 18 | USD $500 |
| Oath of allegiance fee per person aged 18 and over | USD $20 |
| Passport application fee per applicant | USD $250 |
| Due diligence fee for the person sponsoring the application and not included | USD $8,000 |
COUNTRIES OFFER CBI
GRENADA
DOMINICA
SAINT LUCIA
ST.KITTS&NEVIS
ANTIGUA&BARBUDA
VANUATU
MONTENEGRO
MALTA