Grenada Citizenship by Investment (CBI) welcomes individuals and their respective family members of excellent character to obtain Grenadian citizenship in exchange for investing in the country’s prosperity. Grenada’s citizenship by investment program gives successful applicants the opportunity to become global citizens by acquiring a second passport, and in turn, call this beautiful island nation, home. Grenada is a perfect Caribbean country to enjoy visa free travel to over 140 countries.
In this guide, you can find out more about Grenada investment program immigration including the:
Your guide to becoming a Grenada citizen
Citizenship by investment programs offer individuals the unique ability to obtain nationality by investing in the country, usually in government donations or through a real estate investment option. With its unspoiled landscapes, warm climate and popular reputation as a ‘Spice Island’ of the Caribbean, Grenada’s CBI Program has a straightforward application process. You can acquire a Grenadian passport by investment by either making an approved real estate purchase or a donation to Grenada’s National Transformation Fund.
There are many reasons to choose the Grenada citizenship by investment program. From its stable government, booming trade and bustling tourism industry to its paradise beaches and private lifestyle, Grenadian citizenship benefits include:
1. Quick application process: One of the fastest turnarounds from the date of citizenship by investment application submission. Get your application processed in as little as 60 business days.
2. Passports for qualifying family members: Inclusion of spouse, dependent children under 29, dependent parents or grandparents, and qualified siblings, providing a pathway to Grenadian passport and citizenship. Family members can maintain dual citizenship and enjoy increased visa free travel.
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: Grenada is the only Caribbean country whose citizens are allowed 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 citizenship by investment application.
6. Flexible requirements: No interview, education, or management experience requirements, as part of the investment program application process.
7. Visa free travel: Grenada’s passport power is undeniable, allowing citizens visa free travel to over 140 countries including the UK (six-month-stay), European Union countries, China, Russia, and more.
8. Attractive tax regime: No tax on worldwide income, capital gains, and inheritance tax. The Grenada citizenship by investment program provides many tax benefits.
Grenada citizenship by investment program requirements
In order to obtain Grenadian citizenship, a series of requirements must be met first.
The applicant must:
- Be over 18 years old.
- Have an outstanding character.
- Have good health.
- Clean criminal record.
- Pass a detailed background check.
- Provide proof of source of funds. Funds must be legal.
A key Grenada citizenship by investment benefit is that it extends to the primary applicant’s entire family members, meaning they are also eligible for Grenadian citizenship.
The following family members may apply:
- 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.
- Unmarried siblings of the main applicant or of the spouse, whether biological or adopted, aged at least 18, and with no children.
Grenada citizenship – investment options
There are two investment options to choose from in 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 route
There are two options available to applicants who wish to go through the Grenada citizenship by residency option via real estate investment:
Option 1: An independent investment in a government approved project 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 Grenada cbi fees apply.
Due diligence fees:
Tax considerations for Grenada citizenship by investment
Residents and citizens of Grenada enjoy an attractive tax regime. 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:
- The 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 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 a building.
- Stamp tax on business receipts is 0.70% if gross receipts are over XCD 300,000.
Grenada citizenship by investment program application processing time
Applications are assessed by Grenada’s Citizenship by Investment Committee (CBIC) and applications are handled by authorized 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 a strict due diligence process 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 Grenadian passport can be procured.
Who can submit the application for Grenada citizenship by investment?
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 application process
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 the application forms and necessary documents as provided by your authorized marketing agent. Make sure all the documents are legalized according to CBIC’s standards (more information on document requirements below).
3. Government assesses the application and conducts background checks
4. Within 60-90 days of applying, your application should be approved and a letter 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 and pay all the respective Grenada citizenship by investment program fees.
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 Grenadan 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 investment option) / Escrow agreement and letter of engagement with a 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 the birth certificate (2 copies).
- Certified copy of proof of name change [if applicable].
- Certified colored 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.
- Original document proving applicant’s residential address. Such as a true copy of a lease, original utility bill, bank statement, or written confirmation from a bank, confirming the applicant’s address.
- Original professional reference letter
- Lawyer/notary practicing certificate (copy of the license of the lawyer or notary certifying the documents.
- Original letter of employment
- Payslips and/or salary letters.
- 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 Grenada 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 Grenadian 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 by investment 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.