If you are considering acquiring a Caribbean citizenship as a second passport for you and your family, this article describes the differences (and similarities) about the Citizenship by Investment Programs of two Caribbean countries: Grenada and St Lucia. Whether your goal is to increase global mobility, make the best of tax friendly policies, or diversify your assets, both passports can provide you with these advantages, and more.
Benefits of St Lucia and Grenada Citizenship by Investment Programs
Grenada vs St Lucia Comparison: At a Glance
|Program characteristics||Grenada Citizenship by Investment||St Lucia Citizenship by Investment|
|Application time||Two to three months||Two to three months|
|Passport Global ranking||76th. Visa-free entry to EU Schengen countries, the UK, Hong Kong, Singapore, Russia and China, amongst others. Possibility of applying to US E2 visa||75th. Visa-free entry to EU Schengen countries, the UK, Hong Kong, and Singapore, 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
|NEF minimum donation:
$100,000 (single applicant) / $150,000(family of four)
Real Estate investment:
Investment routes: National Economic Fund, real estate, enterprise, government bonds
|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, siblings under 18 (unmarried with no children), and parents and grandparents||Inclusion of spouse, children under 30, siblings under 18 (unmarried with no children) and parents and grandparents over 55|
|Application requirements||No interview, language or residency requirement necessary||No interview, language or residency requirement 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 the EU, the UK, Hong Kong, Singapore, China, 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 Lucia Citizenship by Investment
Since 2015, the country has had its very own St Lucia Citizenship by Investment Program, which grants citizenship to investors and their families in exchange for a qualifying investment of at least $100,000. In just three months, you can obtain a St Lucia passport which allows visa-free access to more than 140 countries, including Europe’s Schengen zone, the United Kingdom, Hong Kong, Singapore, and more.
The program is a great opportunity for those who are looking for diversification of assets, with four different investment routes available:
- Donation to the National Economic Fund of at least $100,000 (single applicant) or $150,000 (main applicant plus three family members). It’s possible to add family members for $15,000 or $25,000 each.
- Investment in pre approved real estate projects, worth a minimum of $3000,000
- Investment in non-interest bearing Government Bonds of at least $500,000, held for five years
- Investment in an Enterprise Project. Minimum investment of $3.5 million for sole investor, or $1 million in a joint venture worth at least $6 million in total
Famous for its impressive Piton mountains, lush rainforest, and first-class white sandy beaches, this mesmerizing island has always been a tourists’ favorite. To attract foreigners, the country has built many new infrastructures such as an international airport, hospitals, top accommodations, and marinas, which eventually led to the development of a flourishing real estate market. Due to its unique combination between luxury and tranquility, the island has attracted many retirees and expat families seeking to relocate to its shores.
Which Program to Pick?
Considering that both Caribbean citizenship programs allow for great global mobility, possibility of tax exemptions, allow inclusion of family members, have flexible requirements and no need for residency, the choice will depend on specific points. Highlighted are the most important:
St Lucia is better for:
- Diverse investment options
- Affordable donation route
Grenada is better for:
- Chance to apply for E2 US visa
- Access to Russia and China
- Affordable real estate investment route
If you are in search for more in depth knowledge, or for a citizenship plan that is tailor-made for you and your family, don’t hesitate to get in contact with us at Global Citizenship Solutions. We have a team of experts on Caribbean Citizenship by Investment programs and also worldwide.
Don’t forget to check our other Caribbean comparison articles:
Frequently Asked Questions:
How strong is the Grenada passport?
The Grenada passport occupies the 76th position in the Global Passport Index ranking, giving visa-free access to over 140 countries, including the EU Schengen area, the UK, Singapore, Hong Kong, Russia, and China. Grenada citizens are also eligible for applying to the US E2 visa. Amongst the five Caribbean citizenship programs, Grenada is the only one that allows this.
How strong is the St Lucia passport?
The Saint Lucia passport ranks 75th in the Global Passport Index. It allows visa-free travel to over 140 countries, including the EU Schengen area, the UK, Singapore and Hong Kong. This Caribbean citizenship program allows dual nationality and a second citizenship in exchange for a minimum investment of $100,000.
Which Caribbean island is best for citizenship?
There are five Caribbean countries that offer Citizenship by investment programs: Antigua and Barbuda, Dominica, Grenada, St Lucia and St Kitts and Nevis. They all have excellent advantages, such as global mobility and flexible requirements, as well as accepting dual citizenship. The best Caribbean country depends on the specific needs of each investor, such as: inclusion of family members, how quickly you can obtain citizenship, investment options. In other words: the best Caribbean citizenship is the one that’s right for you and your family.
If you need more information, check our Caribbean Programs Comparison Table.
Can Grenada citizens work in USA?
Grenada citizens are able to work in the US if they have the US E2 investor visa. Only citizens of countries who have a treaty with the United States are eligible to apply for the E2 visa, and Grenada is one of these countries. It means that acquiring citizenship from tis Caribbean country can be one important step in your plan of living and having business in the US.
Can I acquire St Lucia citizenship?
Yes, thanks to the country’s Citizenship by Investment program, you can acquire this Caribbean citizenship in exchange for a contribution to the development of St Lucia. The minimum investment is $100,000 and citizenship can be extended to your family.
Can I acquire Grenada citizenship?
Grenada has a Citizenship by Investment Program in which investors can obtain citizenship if they make an investment in the country, starting at $150,000.
St Lucia or Grenada citizenship: which one to pick?
The answers depends on what your and your family wat from a second passport. Grenada citizenship allows you to apply for the US E2 investor visa, whereas St Lucia offers more investment options, such as Government bonds. Read our comparison article and find out what is the right option for you.