Grenada vs St Lucia Citizenship: Full Comparison Guide

If you are considering acquiring Caribbean citizenship as a second passport for you and your family, this Grenada vs St Lucia citizenship article describes the differences (and similarities) between the Citizenship by Investment (CBI) programs of these two Caribbean countries. Whether your goal is to increase global mobility, make the best of the Caribbean’s tax-friendly policies, or diversify your assets, both the Grenada and St Lucia passport can provide these advantages and more. So, let’s dive right in.

Benefits of Grenada and St Lucia's Citizenship by Investment Programs

Grenada vs St Lucia Investment Programs Comparison

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 Citizenship by Investment Program. The Grenada citizenship program allows foreign investors and their families to become Caribbean citizens by being granted citizenship and a Grenada passport in exchange for a minimum contribution 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 E-2 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.

Investment options under the citizenship program are:

• Non-refundable contribution to the National Transformation Fund of at least $150,000 for a single applicant or $200,000 for a family of up to four.
• Government-approved real estate investment of at least $220,000 in shares of real estate projects or $350,000 as a sole owner of a property

St Lucia Citizenship by Investment

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 of luxury and tranquility, the island has attracted many retirees and expat families seeking to relocate to its shores.

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 $200,000
• Investment in non-interest bearing Government Bonds of at least $300,000, held for five years
• Investment in an Enterprise Project of at least $3.5 million for a sole investor or $1 million in a joint venture worth at least $6 million in total. Alternatively, invest $100,000 in an infrastructure project.

Checklist: Which program to pick?

To answer the question “is Grenada or St Lucia better?” it’s important to look at some of the pros and cons of obtaining citizenship in Grenada vs St Lucia.

Passport strength

Considering the St Lucia vs Grenada passport and that both Caribbean programs allow for great global mobility, the possibility of tax exemptions, inclusion of family members, flexible requirements, and no need for residency, the choice will depend on specific points. The Grenada passport is stronger and ranks higher than the St Lucia passport. However, it comes at a higher cost. The St Lucia vs Grenada citizenship processing time is three to four months.

Passport holders from both countries enjoy visa-free access to more than 140 countries across the globe, including countries in the Schengen Zone, the UK, Hong Kong, and Singapore. This includes visa-on-arrival, electronic visa, and Electronic Travel Authorization (eTA). Grenada passport holders have the added advantage of being allowed to travel to China and Russia without a visa.

Citizenship by investment cost

When it comes to the cost of citizenship in Grenada vs St Lucia, the citizenship by investment programs differ in terms of financial contribution and options. St Lucia has a $100,000 minimum qualifying investment for a single applicant to the National Economic Fund, which is the most affordable Caribbean passport by investment, and a minimum real estate investment of $200,000. In contrast, Grenada’s minimum qualifying investment for a single applicant is $150,000 for its National Transformation Fund and $220,000 for a real estate purchase.

While Grenada offers two investment options (a national development fund and a real estate investment), St Lucia offers four: A government fund, real estate, an enterprise investment, and government bonds. Both programs include additional fees, such as government fees, processing fees, due diligence fees, passport fees, etc. that vary based on investment options and the number of dependents.

Age limits for relatives

Both Caribbean citizenship by investment programs allow a spouse, children, siblings, parents, and grandparents to obtain Caribbean citizenship. However, their age limits do differ. St Lucia allows the inclusion of siblings under 18 and parents and grandparents over 55. Grenada allows the inclusion of siblings over 18 and places no age limit for parents and grandparents. Both countries allow the inclusion of children under 30.

Passport validity

Both passports are valid for five years, after which they must be renewed. Both countries also recognize dual citizenship and allow citizenship to be passed down to future generations.

Taxes

Let’s take a look at the tax benefits of Grenada citizenship vs St Lucia citizenship. The Caribbean tax environment is advantageous and sought-after by many global investors and families looking to optimize their taxes and plan for their futures. Grenada and St Lucia are no exception, each offering favorable tax policies to their citizens. Both countries require you to live there for at least 183 days a year in order to be considered a tax resident. In both countries, residents pay income taxes on a progressive scale; however, there is no foreign income tax as only locally sourced income is taxed.

So, which program should you pick? That depends on your personal circumstances and requirements. To help you, we’ve summarized some key aspects of each program below.

St Lucia is better in terms of the following:

• Diverse investment options
• More affordable donation route
• Slightly faster processing period

Grenada is better in terms of the following:

• Chance to apply for an E-2 US visa
• Access to Russia and China
• Slightly more family-friendly approach

If you are in search of 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.

Why work with Global Citizen Solutions?

• Global approach by local experts. We are corporate members of the Investment Migration Council, with local expertise in all six Caribbean CBI programs.
• 100% 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 to work with Global Citizen Solutions for your Caribbean citizenship application, click here.

Frequently Asked Questions