Grenada

Citizenship in Grenada

The Grenada Citizenship by Investment program (CBI) was established in 2013. Albeit less than 5 years old, Grenada was recently ranked as the third best CBI program in the world by the Financial Times professional Wealth Management Index ahead of the older Caribbean programs. Visa free travel to over 120 countries including the Schengen States, the UK (6 month stay), Hong Kong, Singapore, PRC China (unique to the Caribbean CBI countries) and Russia.

No residency requirement

Many tax advantages

Passports in six months

Family included

Dual citizenship

Visa-free travel

Healthcare & education

Financial freedom

Luxury property for sale in the Caribbean

Applications for Citizenship in Grenada -

Grenada is the southernmost of the Eastern Caribbean States and is widely known as one of the region’s most beautiful countries. Grenada was recently ranked as the third best CBI program in the world by the Financial Times professional Wealth Management Index ahead of the older Caribbean programs.

There are two routes to apply for citizenship:

  1. Donation – You can make a contribution to the National Transformation Fund (NTF) starting at $200,000 for a single applicant and up to 3 dependants
  2. Real Estate Investment – You can make an investment of at least $ 350,000 in a government approved project. Government fees and Due Diligence fees apply for the real estate option (see details below)

The main benefits of the Citizenship by Investment program (CBI) in Grenada

Grenada was recently ranked as the third best Citizenship by Investment program (CBI) in the world by the Financial Times professional Wealth Management Index ahead of the older Caribbean programs. Visa free travel to over 120 countries including the Schengen States, the UK (6 month stay), Hong Kong, Singapore, PRC China (unique to the Caribbean CBI countries) and Russia.

There are numerous advantages to obtaining this access via the Granada Citizenship program.

Visa free travel to over 120 countries

Visa free travel to over 120 countries including the Schengen States, the UK (6 month stay), Hong Kong, Singapore, PRC China (unique to the Caribbean CBI countries) and Russia

Authorised to apply for a USA E-2 visa

Grenada Citizens are authorised to apply for a USA E-2 visa, which entitles successful applicants to live and work in the USA subject to certain conditions. Grenada’s USA E-2 visa treaty is unique to the Caribbean CBI countries.

Taxation

No inheritance tax and no capital gains tax

Low fees

Low government fees for families.

Flexibility

Parents of any age can be included and unmarried siblings of the principal applicant can be included, and child dependants under 25 do not need to be in education

Exit after three years

Exit after three years – The property can be resold for citizenship purposes for a second time.

Other features of the Citizenship by Investment program (CBI) in Grenada

  • All nationalities can apply and there is no need for an interview or visit to Grenada
  • There is no residency requirement or need to visit, albeit residency is optional
  • Relatively quick processing time – Passports are usually granted within four months
  • Dual Citizenship is allowed
  • No income tax on worldwide income (income outside of Grenada)
  • No inheritance tax and no capital gains tax
  • All nationalities can apply and there is no need for an interview or visit to Grenada
  • There is no residency requirement or need to visit, albeit residency is optional
  • Relatively quick processing time – Passports are usually granted within four months
  • Dual Citizenship is allowed
  • No income tax on worldwide income (income outside of Grenada)
  • No inheritance tax and no capital gains tax

Who qualifies

Investors of any nationality can apply for Grenada CBI. The Principal applicant can include qualifying dependants as follows:

  • The spouse of the principal applicant
  • Dependent children of the principal applicant under the age of 30, whether or not in education
  • Parents or grandparents of the principal applicant or spouse, whether or not dependent
  • Siblings of the principal applicant or the spouse, who are not married and do not have any children

Minimum Investment under the Real Estate option

In order to apply under the Real Estate Option, you must commit to an investment of at least $350,000 in an approved real estate project, and pay the government contribution (starts at $50,000) along with application, processing and due diligence fees, and other costs laid our
below.

Application fees apply:

Submission fees
  • Application fees per person – $1,500
  • Processing Fee: For each adult 17 and over – $1,500; For each child age 0-16 – $1,500
  • Due Diligence fee: For each adult 17 and over – $5,000
    Real Estate Deposit (varies)
Approval Fees
  • Government Contribution Fee
    – For the principal applicant and up to 3 dependents – $50,000
    – For each additional dependent $25,000
    – For each parent under 55, a further additional $50,000
  • Oath of Allegiance and Passport fees per person – $ 268.50
  • Balance of the Real Estate Purchase price
  • Real Estate closing costs vary: – Stamp Duty, Legal and Conveyancing fees usually amount to no more than 5%
  • Bank charges – 1% plus VAT (15%)

Documents required

In addition to the property purchase and the completed application documents, the following must be provided:

  • 12 Colour Passport Photos
  • Copies of birth Certificates
  • Copies of Marriage Certificate
  • Police Certificate of Records
  • Medical Report, including an original HIV/Aids test
  • Colour copies of Passports – first 3 and last 3 pages
  • Colour Copies of National IDs
  • Professional & Bank References (Principal applicant only)
  • Oaths notarised and dated

The steps involved

The process is straightforward and usually takes 3 to 4 months from the date of submission

Step 1

Choose and appoint an authorised international agent who will guide and assist you with the application and the required supporting documents.

Step 2

Complete the application with the agent’s assistance – The agent will arrange a Local Agent to check and submit the application to the Grenada Citizenship Unit (CIU)

Step 3

Select a property, sign the Developer’s Purchase & Sale Agreement (PSA) and pay the deposit and initial government fees and service providers fee

Step 4

The Local Agent checks the application then submits it to the CIU – The processing takes approx. 2 to 3 months

Step 5

Upon approval, the Applicant is notified and arranges payment of the main government contribution fee and the balance of the Purchase price and closing costs

Step 6

Within three to 4 weeks the certificate of registration and passports are issued right away

Please contact us for any queries or information requests in relation to the Citizenship program in Grenada.