Grenada is an independent state within the British Commonwealth. The head of state is Queen Elizabeth II of England. Known as the “Spice Isle”, it is without doubt one of the most stunning of the West Indies tropical islands. It briefly ran an economic citizenship program in the early 1990s that was suspended. The Grenada citizenship program was reborn in 2013 under the leadership of billionaire British property developer Peter de Savary, who is Grenada’s Ambassador for Foreign Investment and spends much of his time in his properties on the island.
To qualify for Grenada immigration, applicants must make a qualifying real estate investment in the country.
Click here for more details about all aspects of the Program.
Key points about real estate option to qualify for Grenada Economic Citizenship:
- The minimum investment in the real estate is US$ 350,000.
- Real estate shall be in a Government-approved development. This is for the protection of investors.
- The real estate shareholding cannot be divested until four (4) years after the purchase.
- Real estate may be freehold, leasehold, or held via shares in a corporation. Grenadian law does not provide for fractional ownership.
Citizenship By Investment Grenada Program Key Facts
- Open to nearly all nationalities (contact us for current restrictions)
- No requirement to renounce your current citizenship as Grenada permits dual citizenship
- Any information supplied in your Grenada citizenship and passport application is totally confidential
- One application can include a whole family
- Only local licensed agents, such as CREI, can submit your application to the government
- The government of Grenada has the final say on whether citizenship is granted
- Citizenship is granted for life in Grenada
- Passports issued by the Grenada government are valid for a five year term
- Renewal of a Grenada passport can be done directly at the Grenada Passport and Immigration office (by courier) or through a Grenada Consulate office
- With the real estate investment option you can keep your Grenada citizenship without any residency requirements
- The passport application process can be completed outside of Grenada
- In Grenada there is no tax on income, wealth tax or inheritance tax.
Grenada Dual Citizenship Advantages
Grenada investment citizenship has the following advantages:
- The application process for Grenada citizenship by investment is faster than the other programs in the Caribbean
- Fees for dependants are the lowest
- Lifetime citizenship
- Security and Personal Freedom
- Travel instantly to around 110 countries and territories, which include:
- The United Kingdom
- Hong Kong
- EU countries (these will be added upon approval)
- Schengen Area countries (these will be added upon approval)
- other Caribbean countries
- Grenada permanent residence is your right.
- With a “skilled professional” certificate you will be able to reside in other CARICOM countries
- Right to own and operate a substantial business in the United States and reside there with your family under a 2 year renewable E2 investor visa.
Grenada Citizenship Requirements
To become an investor you must:
- be 18 years old or older
- invest at least the minimum authorized amount
- have a licensed and bonded local agent to represent you with your application. We at CREI can provide this service to you.
- Be able to meet the requirements of the application
Only one application is required for the main applicant and their and their dependants (the entire family). No limits exist for the number of dependants that can be included on the application.
Dependants may be:
- The main applicant’s spouse
- A child of the main applicant or spouse (either biological or adopted legally):
- the child is under 18 years of age;
- is at least 18 years of age and less than 26 years of age and who attends full time a recognized higher learning institute and is fully dependant on the main applicant;
- the child is at least 18 years of age but mentally or physically challenged, and who resides with and is fully dependent upon the main applicant.
- If grandparents or parents who are over the age of 65 and they are living with and fully dependent upon the main applicant then they can be included.
Citizenship By Investment In Grenada
Investing in Grenada as a country is the way to qualify for citizenship. Investment into the Government National Transformation fund and acquiring real estate in an approved development are the two opportunities on offer. It is required that you will have been a resident of the country for at least one year if you prefer to make an investment into the National Transformation Fund to gain citizenship.
With the real estate acquisition option, you are required by the government to make a real estate acquisition in officially authorized developments and they must have a minimum value of US$ 250,000. There will be additional fees to be paid with this option. You cannot divest any real estate shareholding until four (4) years after the initial purchase date.
The real estate developers will pay all Government fees for the Main Applicant. Other members of the family will be subject to Government fees as follows:
|Family Member Financially Dependent on the Main Applicant||Application Fees (US$)||Processing Fees (US$)||Due Diligence Fees (US$)|
|Dependent Parent below 65 years||1,500||100||1,950|
|Dependent Parent over 65 years||1,500||200||4,200|
|Dependent Child 0-11 years||1,500||100||1,700|
|Dependent Child 12-17 years||1,500||100||1,850|
|Dependent Child 18-25 years||1,500||200||4,200|
It is required by the Government of Grenada that the complete amount of the investment be sent to a Grenada escrow account prior to the submission of an application. Before the final submission of the application to the Government, the due diligence checks will be made which means that final application rejection is not likely. That said, any application for citizenship may be rejected by the Government at any point in the process and a reason may not be given. In the unlikely event of this happening a full refund of the escrow amount will be given.
To ensure the security of the investor, the escrow account will be totally separated from the Government, local agents and real estate developers. A major Canadian bank, Scotiabank, will hold the escrow account. This bank has been operating in Grenada since 1963. The applicant will appoint an escrow agent and the investment amount will be held in the client account.
The locally licensed agent such as CREI will be notified within sixty (60) days about the citizenship application decision by the Citizenship by Investment Committee. This is law.
CREI will compile all of the application forms and other necessary documentation and once funds have been wired and the investment amount is in escrow, it will take up to sixty (60) days from the application submission for you to be granted your citizenship of Grenada assuming that the due diligence checks do not reveal anything negative.
Grenada Passport Application
You should receive your passport no later than two (2) weeks after you have been approved for citizenship. This should only be used as a guideline as changes in Government policies and differences in each application need to be taken into account.
NB: CREI shall not be responsible for any information in this document as official legislation and government policy is subject to change without prior notice.
To start your journey for Grenada citizenship by investment click here to contact us today.
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