Grenada Citizenship by Investment -The Ultimate Guide by Experts

The Grenada Citizenship by Investment Program welcomes individuals and their respective family members of excellent character to obtain citizenship in exchange for investing in the country’s prosperity. Grenada’s citizenship program gives qualifying investors the opportunity to acquire a second passport, and in turn, call this beautiful island nation, home. Grenada is a perfect country to enjoy visa-free travel as a citizen in over 140 countries.   

In this guide, you can find out more about Grenada economic citizenship including the:

Your guide to citizenship by investment in Grenada

Citizenship by investment programmes offer individuals the unique ability to obtain citizenship by investing in the country, usually in real estate or government donation. With its unspoilt landscapes, warm climate and popular reputation as a ‘Spice Island’ of the Caribbean, Grenada’s Citizenship by Investment Programme has a straightforward application process. You can acquire a Grenada passport by investment by either making an approved real estate purchase or a donation to Grenada’s National Transformation Fund. 

Grenada citizenship benefits

There are many reasons to choose Grenada citizenship by investment. From its booming trade and bustling tourism industry, to its paradise beaches and private lifestyle, the program’s unique benefits include:

1. Quick application process 

One of the fastest turnarounds from the date of application submission. Get your application processed in as little as 60 business days.

2. Passports for family members

Inclusion of spouse, dependent children under 29, dependent parents or grandparents, and qualified siblings, providing a pathway to passport and citizenship.

3. Dual citizenship lasting generations 

Grenada dual citizenship is recognized in the country. You can enjoy the right to live, study and work on the island. The benefits of having a Grenada passport may be passed down to future generations.

4. Visa opportunity to the USA

Eligibility to apply for the E2 visa in the USA.

5. No need to live in Grenada

You don’t need to reside in Grenada before, during or after the application. 

6. Flexible requirements

No interview, education or management experience requirements.

7. Visa-free travel

Grenada’s passport power is undeniable. Enjoy visa-free travel to over 140 countries including the UK (six-month-stay), Europe’s Schengen zone, China, Russia and more.

8. Tax freedoms

No tax on worldwide income, capital gains and inheritance tax.

Grenada citizenship requirements

In order to obtain Grenada citizenship by investment, a series of requirements must be met first. 

The applicant must:

  • Be over 18 years old.
  • Have an outstanding character.
  • Have good health.
  • Hold no criminal record.
  • Pass a detailed background check.
  • Provide proof of source of funds. Funds must be legal.

What family members qualify for the Grenada citizenship by investment program?

A key citizenship by investment benefit is that it extends to the applicant’s family members, meaning they are also eligible for Grenada citizenship,

The following family members apply:

  • Spouse
  • Children of the main applicant, aged under 18.
  • Children aged 18 to 29, if in full time attendance at an institution of higher learning, and supported by the main applicant or the main applicant’s spouse.
  • Children aged 18 or over that are physically or mentally challenged.
  • Parents or grandparents of the main applicant or of the spouse if fully financially supported by the main applicant.
  • Siblings of the main applicant or of the spouse, whether biological or adopted, aged at least 18, single, and with no children.

Grenada citizenship by investment options

There are two investment options to choose from for the Grenada Citizenship by Investment Program. 

1. National Transformation Fund

The National Transformation Fund (NTF) was established alongside the Citizenship by Investment Programme in 2013 to assist in boosting Grenada’s economy as well as secure the nation’s resilience, market diversity and prosperity. The main applicant must donate a minimum of USD$150,000 to the NTF, or $200,000 for a family of up to four members. An extra donation of US$25,000 is required for each additional dependent. The National Transformation Fund fees are listed in the respective table below.

2. Pre-approved real estate investment

There are two options available to applicants who wish to go through the Grenada citizenship by residency option and invest in real estate in Grenada:

Option 1: An independent investment in pre-approved real estate at a minimum value of USD$350,000

Option 2 A joint investment in pre-approved tourism accommodation, at a minimum value of $220,000 per investor (total investment value at $440,000)

Condition of investment: The respective investment must be held for at least five years if the buyer wishes to become an economic citizen of Grenada. 

Additional real estate government application fees apply. 

Tax considerations

Residents and citizens of Grenada enjoy relatively relaxed tax conditions. There are no capital gains, inheritance tax, income tax or wealth tax on worldwide income or assets.

Note that some local tax considerations apply. 

Key tax considerations include:

  • Individual annual income tax rate for locally generated income. The first XCD 36,000 per annum is exempt, the next XCD 24,000 is taxed at 10%, and the excess thereof at 28%.
  • The flat tax rate for companies is 30%. There is a withholding tax of 15% on payments sent to a non-resident for interest (except from bank deposits), rent, lease premiums, licenses, royalties, management charges, commissions, and fees.
  • VAT is 15% in Grenada and 10% on hotel and villa type accommodation and dive activities. 
  • Property transfer tax for citizens is generally 5% payable by the vendor or seller; Approved projects may be subject to a reduced rate.
  • Annual taxes in Grenada include property tax, which is 0.2% of the market value for residential property as it relates to land and 0.3% on building. 
  • Stamp tax on business receipts is 0.70% if gross receipts are over XCD 300,000.

Grenada citizenship by investment application processing time

Applications are assessed by Grenada’s Citizenship by Investment Committee (CBIC) and applications are handled by authorised international marketing agents, in coordination with local agents.

Once an application is submitted to the CBIC, the government assesses each application carefully. CBIC goes through strict due diligence checks and will decline an application if the applicant makes a false statement or excludes any relevant information in the application.

Application approval usually takes between 60-90 days. When the application is approved,  the qualifying investment must be made and proof of the respective investment must be supplied.

Following the investment, citizenship documents are issued and a passport can be procured. 

Who can submit the application for the Grenada citizenship by investment program? 

Applications are processed by an Authorized International Marketing agent, who in turn, liaises with an Authorised Local Agent. Applicants may not contact Authorised Local Agents directly.

Get in touch with our specialists at Global Citizen Solutions for more information on how we can support you throughout your application.

Step-by-step guide for the Grenada citizenship by investment application

To apply for the Grenada Citizenship by Investment Program, follow these simple steps to gain your second nationality.

1. Choose an Authorised Marketing Agent to process your application

 The Authorised Marketing Agent will help you prepare documents for submission to the CBIC, with the support of a government-approved local agent. 

2. Complete all application forms 

Complete all the application forms and necessary documents as provided by your authorised marketing agent. Make sure all the documents are legalised according to CBIC’s standards (more information on document requirements below).

3. Government assesses application and conducts background checks

The government branch [CBIC] assesses each application and performs its due diligence and background checks on each applicant. 

4. CBIC approves your application

Within 60-90 days of applying, your application should be approved and a letter of will be issued, with detailed instructions on making your investment. 

5. Decide on your investment route & invest

Choose whether you want to invest in the NTF or make a real estate investment. Submit proof of purchase.

6. Become a citizen

Upon receiving proof of payment, the CBIC issues the certificate of registration.  Applicants must then submit the passport documents via a local agent. You are then granted citizenship of Grenada and can get a Grenadian passport. 

Grenada document requirements

Important information: Applications for citizenship are only handled by registered Authorised Persons. Application forms can be obtained from Authorised International Marketing Agents.

Required Grenada citizenship application forms for submission:

  • Client Facilitator Agreement
  • Personal information – Form 1
  • Fingerprints – Form 2 (only required for persons over 16 years old)
  • Particulars for the Office of Home Affairs – Form 3
  • Medical  – Form 4 (filled in by a registered medical practitioner no longer than 6 months before the application submission date. HIV tests also must be conducted, no longer than 3 months before the application submission date.)
  • Employment and Source of Funds – Form 5
  • Investment Confirmation – Form 6
  • Thomson Reuters consent form (applicants above the age of 16)
  •  Purchase and sale documents in 4 copies (in case of real estate option) / Escrow agreement and letter of engagement with local agent (if opting for the NTF)
  • Passport Application Form
  • Oath of Allegiance-Required for each family member 18 years and above
  • Sworn Affidavit confirming parents names

Important notice: Agent application forms can be accessed on Grenada’s government website here.

General civil document requirements:

  • Original excerpt of full birth record or certified copy of birth certificate (2 copies).
  • Certified copy of proof of name change [if applicable].
  • Certified coloured copy of current passport(s) showing name, photo citizenship/nationality, date and place of issue, expiry date, passport number and issuing country.
  • 12 original passport-sized photos of each applicant taken within the last 6 months. 1 photo needs to be certified by a lawyer at the back where the lawyer has written “I certify the true likeness of [applicant’s name]”and the lawyer has signed the photo.
  • Marriage or divorce certificate (2 copies).
  • National ID/Social security color copies (required for each applicant).
  • Permanent residence ID.
  • Copy of military service card (if applicable)
  • Affidavit from spouse or ex-spouse relating to children.
  • Affidavit of support for dependents.
  • Education certificates and transcripts.

Supporting documents

  • Original document proving applicant’s residential address. Such as true copy of lease, original utility bill, bank statement, or written confirmation from a bank, confirming applicant’s address.
  • Original professional reference letter
  • Lawyer/notary practicing certificate (copy of the license of the lawyer or notary certifying the documents.

Employment/business documents

  • Original letter of employment
  • Pay slips and/or salary letters.
  • CV
  • Original reference letter from the main applicant’s banker.
  • Personal bank statements for the last 12 months. 
  • Police clearance [original].

Important note: All letters must be addressed to: Grenada Citizenship by Investment Committee, Grenada Board of Tourism Building, floor 2, Burns Point, St. George’s Grenada

Translation of documents

Documents written in a language other than English must be accompanied, at the time the application is submitted, with a certified translation into English only. The translation must be done by a translator who is a member of a professional order or is authorized to act professionally in this capacity and must be complete and faithful to the original document. The text, seals and signatures of the original document must be translated.

Certification of documents

Where a document is required to be produced in support of the application for Citizenship by Investment, it must be certified and authenticated in accordance with the law of the jurisdiction from where the document originates.

The person certifying the document must provide the following information; full name in capitals, the capacity in which the person is acting, residential or business address, telephone number and e-mail address.

Where a notary public certifies a document to be a true copy of the original, that document must be authenticated by:

a)       An apostille in accordance with the provisions of the Hague Convention abolishing the requirement for legislation for foreign public documents, in the case of a jurisdiction that is a party to that convention.

b)      Validation of the certificate of the notary public by the appropriate government department in the case of a jurisdiction that is not a party to that convention.

Grenada citizenship cost

When thinking about the Grenada citizenship cost, there are a number of fees to consider. 

These fees are outlined below in the respective table charts. Note that the government-set fees are subject to change at the government’s discretion.

 

Additional passport and agent fees must be taken into account.

OUR COMMITMENT TO OUR CLIENTS

At Global Citizen Solutions, we work first and foremost for our clients, providing unique tailor-made solutions to each individual.

Making an investment and moving abroad may seem daunting, we know this from first-hand experience. At Global Citizen Solutions, we guide our clients through each step of the citizenship process, with 100% success rates.

Contact us to learn more about Grenada’s Citizenship by Investment Program, or to learn more about other residency and citizenship programs we work with.

Frequently asked questions about Grenada Citizenship by Investment Program

How to get Grenada citizenship?

You must have excellent health, a good character, a clear police record, be over 18 years old and have a legitimate legal income in order to get Grenada citizenship. You must also make a financial donation to the government’s NTF or purchase pre-approved real estate.

Does Grenada allow dual citizenship?

Yes, Grenada recognises dual citizenship. You and eligible family members can obtain a second passport through the Citizenship by Investment Program.

Can my family apply for citizenship too?

Yes, your Grenada citizenship application can be made jointly with your wife or husband, dependent children, and dependent parents. Fees for family members vary according to the number of family members included in a citizenship application.

Do I need to visit Grenada during the application process?

There is no requirement to visit Grenada before, during or after the application.

What is the Grenada citizenship processing time?

From the moment you submit your application, it takes usually between 60-90 business days for your application for citizenship to be granted. After which, the application for a passport is a quick and easy process. Passports can be issued within days of the request.

What is the validity of a Grenadian passport?

All Grenadian passports are valid for five years, after which they can be renewed indefinitely.

Do I have to attend an interview?

There is currently no mandatory interview requirement for the Citizenship by Investment Program of Grenada.

What are the Grenada investment opportunities?

You can make either a financial contribution to the National Transformation Fund of US$ 150,000 (single applicant), or make an investment in government-approved projects, which includes real estate developments such as villas and resorts, with the minimum amount of US$ 400,000 for independent contributions, or $220,000 per investor in joint investment initiatives.