If you are looking to acquire a second passport, the Caribbean countries offer advantageous citizenship by investment programs. St Kitts and Nevis and Grenada are two of these countries: in just a few months and in exchange for a reasonably affordable investment, you and your family can obtain a second citizenship. But which one to choose? This article gives you a detailed overview of both Caribbean citizenship programs, so you can find the right one for your family.
Grenada and St Kitts Citizenship Benefits
Grenada vs St Kitts comparison: At a Glance
|Program characteristics||Grenada Citizenship by Investment||St Kitts Citizenship by Investment|
|Application time||Two to three months||Two to three months|
|Passport Global ranking||76th. Visa-free entry to EU Schengen States, the UK, Hong Kong, Singapore, Russia and China, amongst others.||55th. Visa-free entry to EU Schengen States, the UK, Hong Kong, Singapore and Russia, amongst others.|
|Qualifying investment||NTF minimum donation:
$150,000 (single applicant) / $200,000 (family of four)
Real Estate investment:
Investment routes: National Transformation Fund, real estate
|SGF minimum donation:
$125,000 (single applicant) / $170,000 (family of four) (special offer from 1 Jan to 30 June 2023)
Real Estate investment:
Public Good Project (PGP):
$175,000 non-refundable contribution
Investment routes: Sustainable Growth Fund, real estate, Public Good Project
|Taxes||No income tax on worldwide income, wealth tax, gift tax, inheritance tax or capital gains tax.||No income tax on worldwide income, wealth tax, gift tax, inheritance tax or capital gains tax.|
|Residence rule||No stay requirements.||No stay requirements.|
|Family eligibility||Inclusion of spouse, dependent children under 30, parents and grandparents, siblings under 18 (unmarried with no children)||Inclusion of spouse, dependent children up to 30, parents and grandparents aged 55 or above, siblings up to 30 (unmarried with no children)|
|Application requirements||No interview, education or management experience requirements.||No interview, language or residency requirements necessary.|
Grenada Citizenship by Investment
Grenada — also called ‘The Spice of the Caribbean’ — is praised for its beautiful nature, tranquility, and relaxed lifestyle. Since 2013, the government has its very own Grenada Citizenship by Investment Program. This successful immigration scheme grants foreign investors and their families a Grenada passport in exchange for a minimum investment of $150,000 in the country’s economy.
With a Grenada passport, investors are able to travel visa-free to over 140 countries such as China, the EU, the UK, and Russia. In addition, the passport is also the only Caribbean passport offering the opportunity to apply for the E2 visa in the US – which allows you to enter and work in the US when investing a substantial amount of capital in a US business.
St Kitts Citizenship by Investment
St Kitts and Nevis is a two-island country in the Caribbean Sea. Praised for its pristine beaches and luxury, this is the ideal place for those seeking an exclusive lifestyle. It is also the first Caribbean country to have launched a CBI Program, paving the way for many others. Implemented in 1984, the program grants applicants and their families investment citizenship in exchange for a qualifying contribution of at least $125,000 (special offer from 1 Jan to 30 June 2023) to the development of the country.
A St Kitts and Nevis passport allows visa-free travel to over 140 countries such as in Europe’s Schengen zone, the United Kingdom, Hong Kong, Singapore, and Russia.
Which one to pick?
Both Grenada and St Kitts and Nevis Citizenship are very appealing and share many similarities such as a quick application process, affordable and similar investment routes, no-stay requirements, flexible application requirements, and a very attractive tax regime. Also, both countries accept dual citizenship.
However, the programs differ on several crucial points which can help you choose.
First and foremost, St Kitts and Nevis’s passport ranks 55th and gives you visa-free access to over 140 countries. Grenada passport ranks in the 76th position, a bit lower. However, it gives access to China and offers the possibility of applying for the US E2 visa. The E2 visa permits you to enter and work in the US provided you’ve invested a substantial amount of capital in a US business. Investors seeking to gain access to the US market are therefore encouraged to apply for Grenada citizenship.
So, if you want more visa-free countries and global mobility in general, St Kitts is better. If you have specific needs such as access to China or the US E2 visa, then Grenada may be the best option.
If you are planning to include family members in the application, each program has slight differences that may weight on your decision. Both accept spouses and children under 30 years old. However, while Grenada accepts only siblings under 18 (as long as they are unmarried and have no children), St Kitts and Nevis has a limit of 30 years old. On the other hand, they only accept parents and grandparents aged 55 and above, whereas Grenada has no age requirements for parents and grandparents.
Regarding the financial investments, both programs are very similar in options and prices, meaning that this factor will probably not sway your decision one way or the other.
Finally, for applicants who are in a hurry, the St Kitts and Nevis offers an Accelerated Application Process, which guarantees successful applicants citizenship, including the issuance of passports in sixty days or under. The fee for this fast track route is $25,000 for the main applicant, with more $20,000 for the spouse and each other adult dependent, plus $500 for each dependent under 16.
In conclusion, both programs are very appealing for similar reasons, and your decision should be based on your long-term goals and specific circumstances. Is your priority global mobility? Access to the US? Passport ready a short time? Family reunification? If you need help figuring out which program is right for you, do not hesitate to contact us.
Don’t forget to check our other Caribbean comparison articles:
- Caribbean Citizenship by Investment Comparison Guide
- St Lucia vs Dominica Citizenship
- St Kitts and Nevis vs Dominica Passport
- Grenada vs St Lucia Citizenship
- St Kitts vs St Lucia Citizenship
- Grenada vs Dominica Citizenship
- Antigua vs St Lucia Citizenship
- Antigua vs St Kitts Citizenship
- Antigua vs Grenada Citizenship
- Antigua vs Dominica Citizenship
Frequently Asked Questions:
What is the Grenada Citizenship by Investment program?
The Grenada Citizenship by Investment program is a successful immigration scheme launched in 2013, which grants investors and their families a Grenada passport in two months in exchange for investing in the country a minimum of $150,000.
What is the St Kitts and Nevis Citizenship by Investment program?
This program is the oldest Caribbean citizenship by investment scheme. Launched in 1984, it grants qualifying investors and their families a St Kitts and Nevis passport in just two months in exchange for investing at least $125,000 in the country (special offer from 1 Jan to 30 June 2023).
Grenada vs St Kitts citizenship: which program to pick?
Both Grenada and St Kitts citizenship are very appealing. The strength of having a St Kitts passport is that you can travel visa-free to over 140 countries. With a Grenada passport, you can apply for the US E2 visa, which allows you to stay in the US in exchange for a qualifying investment.