The Grenada Citizenship by Investment program provides investors and their family members with a second passport that allows visa-free travel to over 140 countries, including the UK, EU Schengen countries, China, Russia, and Singapore. Grenada citizens can also apply for the USA E-2 investor visa. Citizenship can be obtained in exchange for an investment in the country, which can be a donation to a government fund starting at $150,000, or the purchase of real estate from $220,000.
A Caribbean Passport by Investment May Be a Great Option for You If:
- You are considering diversifying your assets and looking for a place where you can enjoy a number of tax breaks. In Grenada, there is no income tax on worldwide income, no capital gains tax, and no inheritance tax.
- You want to invest in high-end tourist real estate and benefit from the thriving tourism industry in the Caribbean.
- You are looking for a Plan B for yourself and your family. A second citizenship offers alternatives in instances of global instability.
- You are making plans to retire in a peaceful, sunny paradise. With Grenada citizenship, you and your family can live in any of the 15 member states of the Caribbean Community (Caricom).
What is Citizenship by Investment?
Citizenship by investment programs, also sometimes referred to as economic citizenship or golden visa programs, offer foreign investors the opportunity to receive citizenship of a country in exchange for a contribution to the nation’s economic growth. In the Caribbean region, five countries offer Citizenship by Investment (or CBI) programs: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia.
Usually, the investment takes the form of either a donation to fund government projects or a real estate investment. However, some countries offer additional investment routes, such as government bonds, contributions to educational institutions, or the creation of business enterprises. Citizenship can be extended to family members and is valid for life, passing down to future generations.
During the application, all documentation provided goes through the due diligence process performed by the Citizenship by Investment Unit (CIU) of the country you are applying to. This is a vital step in a citizenship by investment application, as it means the documents and information will be checked to confirm the identity, financial profile, and security profile of the main applicant, as well as all family members aged 16 or over. A solid due diligence process is crucial to guarantee a CBI program’s credibility and longevity.
Benefits of the Grenada Citizenship by Investment Program
In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family. A Caribbean passport is the ultimate plan B. Obtaining one is affordable, easy, and fast.
Grenada citizens enjoy an attractive tax environment, with no income, wealth, or inheritance tax.
The investment options are affordable, starting at $150,000.
Your entire family can be included in the citizenship application – spouse, dependent children, siblings, parents, and grandparents. And since citizenship is lifelong, it will pass down to future generations. Grenada recognizes dual citizenship so that you can keep your previous nationality.
Grenada is the only Caribbean country that offers investors the chance to settle in the USA through the US E-2 Visa.
There are no residency requirements for citizenship, meaning you can do the whole process remotely without the need to travel to Grenada at any point.
There are no language tests or academic requirements either.
Grenada passport holders can travel visa-free to over 140 countries, including the European Union, the UK, Hong Kong, Singapore, Russia, and China.
Why Grenada?
Grenada, often referred to as the “Spice Island,” due to its production of spices like nutmeg, cinnamon, and cloves, offers a myriad of opportunities for investors seeking a lucrative and rewarding destination. With its stable political climate, robust economy, breathtaking natural beauty, and strategic location, Grenada presents compelling reasons to consider investment ventures.
The country consists of the island of Grenada itself, two smaller islands, Carriacou and Petite Martinique, and several small islands that lie north of the main island and are a part of the Grenadines. Its population is approximately 124 thousand, and the official language is English. Two other languages, known as the Grenadian Creoles (French and English), are also spoken.
There is plenty to do on the island, such as hiking, diving, snorkeling, and exploring the country’s rich history. Grand Etang National Park and Forest Reserve is a great place to catch a glimpse of the island’s wildlife and lush vegetation, while the turquoise waters surrounding the island provide the perfect environment for exploring Grenada’s underwater sculpture park and marine life.
Grenada has a stable political system and a strong commitment to democracy. The government is pro-business and has implemented policies to attract foreign investment, such as a favorable tax regime and fiscal incentives for investors. The country’s economy has experienced steady growth in recent years, with sectors such as tourism, agriculture, and renewable energy contributing to its development.
Getting to Grenada
Grenada is well connected by flights, making it easily accessible for travelers from around the world. Maurice Bishop International Airport (GND), located in the capital city of St George’s, serves as Grenada’s main international gateway. Several airlines operate regular flights to and from Grenada, connecting the island to various destinations in North America, Europe, and the Caribbean. The country has direct flights to major cities, including London, Miami, Toronto, and New York.
Who is eligible for Grenada citizenship?
Main applicant
The Grenada citizenship requirements are:
- Be over 18 years old
- Have an outstanding character
- Be in good health
- Hold a clean criminal record
- Pass a detailed background check
- Make a qualifying investment
At Global Citizen Solutions, we offer an initial pre due diligence assessment, free of charge, so you can be assured that your application will be successful even before you sign the contract with us.
Family members
The following family members can be included in the application process and obtain Grenada citizenship for life:
- Spouse
- Children under the age of 18
- Children aged 18 to 29, supported by the main applicant or spouse
- Children aged 18 or over that are physically or mentally challenged
- Parents or grandparents of the main applicant or spouse, if fully supported by the main applicant
- Siblings of the main applicant or spouse, whether biological or adopted, aged at least 18, unmarried and with no children
Qualifying Investments: Two Options
1. National Transformation Fund (NTF)
The National Transformation Fund (NTF) in Grenada is a government initiative designed to attract foreign investment and contribute to the country’s economic development. In order to receive Grenada citizenship, you must make a non-refundable contribution to the Fund, starting at $150,000. Your financial contribution will enhance the country’s infrastructure, education, healthcare, tourism, and other sectors.
Single Applicant | Family Up to 4 | Additional Dependent | Additional Dependent (Parent Under 55) | Additional Dependent (Sibling) | |
Minimum Donation | $150,000 | $200,000 | +$25,000 each | +$50,000 each | +$75,000 each |
Application Fee | $1,500 per person | ||||
Due Diligence Fee | $5,000 for each family member aged 17 or over | ||||
Processing Fee | $1,500 per person aged 18 or over | ||||
Interview Fee | $1,000 per applicant aged 17 or over | ||||
2. Real estate
It is also possible to obtain Grenada citizenship in exchange for a real estate investment. You can either buy a property worth at least $350,000 or purchase $220,000 in shares of real estate projects, usually high-end touristic accommodations such as resorts, villas, or hotels. In any case, the properties must have been previously approved by the government. You can resell the property, or shares, after five years.
Family Up to 4 | Additional Dependent | Additional Dependent (Parent Under 55) | Additional Dependent (Sibling) | |
Minimum Investment | OPTION 1: $220,000 in shares | |||
Government Fee | $50,000 | +25,000 each | +50,000 each | +75,000 each |
Application Fee | $1,500 per person | |||
Due Diligence Fee | $5,000 for each family member aged 17 or over | |||
Processing Fee | $1,500 per person aged 18 or over | |||
Interview Fee | $1,000 per applicant aged 17 or over | |||
Check out our article: Grenada Real Estate – A Complete Guide.
The Pros and Cons of Grenada Citizenship
Pros
Access to USA E-2 visa: Grenada is the only Caribbean country that offers its citizens the opportunity to apply for the USA E-2 visa. If you fulfill the investment visa requirements (such as permanent residency), you have the opportunity to invest and live in the USA.
Visa-free access to Russia and China: This is an advantage of Grenada CBI, as not all Caribbean passports give access to both countries. Grenada passport ranks 74th in the Global Passport Index and also provides visa-free access to the Schengen states in Europe, the UK, Singapore, and Hong Kong, amongst others.
Protected from hurricanes: Grenada is located in a relatively safe position outside the Hurricane Belt, meaning it is less vulnerable to extreme weather than the other Caribbean countries.
Cons
Expensive: Compared to the other Caribbean programs, Grenada’s minimum investment threshold is higher, with a $150,000 minimum NTF donation for a single applicant or a $220,000 minimum real estate investment.
Limited investment options: Unlike other Caribbean countries offering several investment opportunities, Grenada keeps its program simple, with only two investment routes: real estate investment or NTF donation.
Citizenship by Investment - Step by Step
Once you decide to apply for the Grenada Citizenship by Investment Program, our expert team at Global Citizen Solutions will guide you through the following steps to obtain your Caribbean passport:
Choose your investment route
Complete all application forms
Submit your application
Receive approval from the CBIC
Make your investment
Become a Grenada citizen
- Choose your investment route: Decide which investment route is best for you: making a non-refundable contribution to the Grenada National Transformation Fund (NTF) or purchasing shares of pre-approved real estate projects.
- Complete all application forms: Complete all the forms and necessary documents as provided by Global Citizen Solutions. This includes the mandatory interview application form, which must be completed by each applicant aged 17 and older.
- Submit your application: Your dedicated Investment Migration Specialist will submit the citizenship application on your behalf*.
- Receive the Grenada Citizenship by Investment Committee (CBIC) approval: Within 60-90 days of applying, you will receive a confirmation letter with the status ‘approved in principle.’
- Make your investment: Make the investment and send proof to the CBIC.
- Become a citizen: You and your family will be granted citizenship of Grenada and receive your passports at an address of your choice.
*The CBIC doesn’t accept applications directly from applicants but only from Authorized Agents.
Mandatory interview process and fee structure
As of 4 September 2023, Grenada now requires the main applicant, spouse, sponsor, and dependents aged 17 and older to partake in a mandatory interview as part of the due diligence process. This new requirement has been introduced to preserve the integrity and reputation of the Grenada CBI program. Each applicant must complete an Interview Application Form, which must be submitted to the CIU along with the rest of the supporting documentation. Applicants will then receive a link via email that will take them to a questionnaire. The screening interview will be in English, but instructions will be provided in the applicant’s national or preferred language (which applicants should identify in the form). Each applicant partaking in an interview will need to pay a $1,000 fee.
Grenada Taxes
Citizens and residents of Grenada can enjoy the attractive tax regime of the island. There are no capital gains, inheritance tax, or wealth tax on worldwide income or assets imposed by Grenada. However, it is important to note that some local taxation measures apply.
Important tax considerations:
- The individual annual income tax rate for locally generated income for the first XCD 36,000 per annum is exempt; the next XCD 24,000 is taxed at 10 percent, and the excess thereof at 28 percent.
- For companies, there is a flat tax rate of 30 percent. A withholding tax of 15 percent on payments sent to a non-resident for interest (excluding bank deposits), rental income, lease premiums, licenses, royalties, management charges, commissions, and fees is applicable.
- In Grenada, VAT is 15 percent. For hotels, villa-type accommodations, and dive activities, this is 10 percent.
- Property transfer tax for Grenada citizens is generally 5 percent and is payable by the vendor or seller. Government-approved real estate projects may be subject to a reduced rate.
- Annual taxes in Grenada include property tax, which stands at 0.2 percent of the market value for residential property as it relates to land, and 0.3 percent on a building.
- Stamp tax on business receipts is 0.70 percent if the gross received is more than XCD 300,000.
List of Documents
Grenada document requirements
You will need to fill out the following forms, which will be provided by Global Citizen Solutions:
- Personal data and information (form 1)
- Fingerprints, obtained in front of a licensed officer (form 2)
- Particulars for the Office of Home Affairs (form 3)
- Medical certificate (form 4)
- Employment, wealth, business, and related information (form 5)
- Investment confirmation (form 6)
- Thomson Reuters consent form – for Grenada CBI applicants above the age of 16
- Purchase and sale documents in 4 copies (in case of the real estate investment option / Escrow agreement and letter of engagement with a local agent (in case of NTF option)
- Passport Application Form
- Oath of Allegiance – required for each family member 18 years or older
- Sworn Affidavit confirming dependent parents’ names
In addition, the general civil document requirements are the following:
- Original full birth record or certified copy of the birth certificate (2 copies)
- Certified copy of proof of name change (if applicable)
- Certified colored copy of current passport(s) showing the name, photo, citizenship/nationality, date, place of issue, expiry date, passport number, and issuing country
- Original passport-sized photos of every applicant taken within the last six months (12 needed). One photo needs to be certified by a lawyer
- Marriage or divorce certificates (2 copies)
- National ID or social security color copies (required for each applicant)
- Permanent residence ID or permanent residence proof
- Copy of military service card (if applicable)
- Affidavit from spouse or ex-spouse relating to children
- Affidavit of support from dependents
- Education certificates and transcripts
Supporting documents:
- Original documents proving the applicant’s residential address (e.g., utility bill)
- Original professional reference letter
- Lawyer or notary practicing certificate (a copy of the license of the lawyer of notary certifying the documents)
Additional documents:
- Payslips and/or salary letters
- CV
- Original reference letter from the main applicant’s banker
- Personal bank statements over the last 12 months
- Police clearance and criminal record checks (original document)
Translation and certification of documents
Documents that are not in English must be accompanied by a certified English translation.
Documents must be certified and authenticated following the law of the jurisdiction from where the document originates.
OBS: This is a list for reference. The CBIC may request additional documents if necessary.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI programs.
- 100 percent approval rate: We have never had a case rejected and will offer you an initial, free-of-charge, due diligence assessment before signing any contract.
- Independent service and full transparency: We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution: A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family's mobility, tax, and lifestyle needs.
- Confidential service and secure data management: All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
To see the full list of reasons why to work with Global Citizen Solutions for your Caribbean citizenship application, click here.
Frequently Asked Questions about Grenada Citizenship by Investment
What are the benefits of Grenada citizenship?
The benefits of Grenada citizenship are visa-free access to over 140 countries, including the European nations in the Schengen area, the UK, Singapore, China, and Hong Kong; the possibility of applying for the E2 visa in the USA; and also tax advantages. Opening an account at a bank in Grenada is also faster as a citizen.
Can you buy citizenship in Grenada?
If you apply for the Grenada citizenship program, it is possible to obtain citizenship in exchange for an investment in the country. Investors can choose between two options:
- A non-refundable donation to the National Transformation Fund (NTF), starting at $150,000 for a single applicant or $200,000 for a family.
- A real estate investment starting at $220,000, which can be resold after five years.
You may also have other costs, such as government fees, due diligence fees, and application fees. Grenada citizenship processing time takes between three to six months in general.
What are the requirements for Grenada Citizenship by Investment (CBI) program?
To qualify for Grenada citizenship, the primary applicant must be 18 years of age, have a clean criminal record, be in good health, and pass a detailed background check.
Once the requirements are met, the applicant must choose one of the following investment options: a donation to Grenada’s National Transformation Fund, starting at $150,000; or the purchase of government-approved real estate, worth $350,000 in the case of an independent property, or $220,000 in shares of touristic accommodation.
How can I obtain Grenada nationality?
You can obtain Grenada nationality via birth (either by being born in the country or abroad from Grenada nationals). It is also possible to gain nationality by naturalization or via the Citizenship by Investment Program, in which an investor may gain nationality in exchange for an investment in the country.
How fast can I get Grenada citizenship?
Grenada citizenship by investment processing time and approval usually takes 60 to 90 days. The whole process, from submitting your application to receiving your Caribbean passport, usually takes three to six months.
What family members can I include in my Grenada citizenship by investment application?
Family members are eligible to acquire citizenship and Grenada passport, along with the main applicant who invests in the investment program. This includes citizenship for your spouse, dependent children, parents, grandparents, or siblings. All of them will be able to benefit from the Grenada citizenship program and the advantages of being a Grenada passport holder, such as visa-free travel to over 140 countries, and additional personal and financial security. Another advantage of Grenada CBI is that the country recognizes dual citizenship (and multiple citizenships as well).
How strong is Grenada passport?
According to the Global Passport Index, it ranks as the 74th most powerful passport, allowing visa-free travel to over 140 countries, including the Schengen area, the UK, China, Russia, Singapore, and Hong Kong.
What documents are required to apply for citizenship by investment in Grenada?
When applying to Grenada CBI program, the primary applicant must submit to the CBIC a series of documents, such as proof of identity, police certificate, medical and bank records, etc. All documents must be certified and translated into English (if necessary). The complete list of documents is available in this article.
How do you become a citizen of Grenada?
It is possible to obtain Grenada citizenship by marriage, birth, naturalization, or investment. If you decide to apply for citizenship by investment, you can be granted citizenship in exchange for an investment in the country, which can be a donation of $150,000 or more to the National Transformation Fund or an investment of at least $220,000 in government-approved real estate.
Does Grenada recognize dual citizenship?
Yes, Grenada recognizes dual citizenship and allows you to retain your current nationality once you obtain Grenada citizenship. You can do so through the Grenada CBI program, which offers investors a straightforward application process and allows the inclusion of dependent parents and dependent children.
