Why You Should Invest in Grenada

Grenada is a wonderful upcoming Caribbean island with boundless potential for investment. The country is safe and politically stable, has a growing tourism industry, and is filled with natural resources, including cocoa, nutmeg, and deep-water harbors, facilitating international trade throughout the Caribbean region and across continents.

Besides the country’s abundant natural resources and political stability, you can invest in Grenada and obtain a Caribbean passport through the Grenada citizenship by investment program (CBI). Grenada CBI applicants can acquire second citizenship by making a foreign direct investment in the country’s economy through real estate investments or a Grenada government fund donation designated for the country’s National Transformation Fund (NTF).

Successful applicants become Grenada citizens and enjoy the benefits of a Grenadian passport, which provides visa free travel to over 140 countries worldwide.

Top Industries for Investing in Grenada

Tourism

Tourism is a cornerstone of the Grenada economy, with the southwestern region of St George’s attracting considerable attention, especially for water sports enthusiasts. The trend of ecotourism is rising in Grenada, with numerous eco-friendly initiatives springing up across the parishes of St David and St John. Investors can explore new eco-real estate opportunities in these areas, which qualify as eligible investments for the Grenada citizenship program.

Quarrying

While Grenada doesn’t engage in commercial mining of minerals, quarrying operations are conducted to extract valuable materials like basalt and gravel.

Spices

Nutmeg cultivation earned Grenada its moniker of the “Island of Spice,” establishing a strong reputation for quality. This reputation translates into consistent global demand, with Grenada being the world’s second-largest producer of nutmeg.

Real estate

Over the last few years, international investors from Canada, the US, and the UK have increasingly shown interest in Grenada’s property market, contributing to its resilience and bolstering the local tourism sector. A significant contributor to the growth of the Grenada real estate market is the opportunity to obtain citizenship and a Grenada passport by investing in pre-approved real estate projects.

Why Invest in Grenada

• Safe and economically stable Caribbean country
• Obtain Grenada citizen and a Grenadian passport from a financial contribution of $150,000
• Receive a Grenadian passport in three to six months
• Direct flights to key destinations worldwide, including the US, Canada and European Union countries
• Own real estate on a beautiful Caribbean island
• Favorable tax environment, with no foreign income, inheritance, wealth, or capital gains tax
• Opportunity to apply for the US E-2 Visa

Grenada Citizenship by Investment Program

The Grenada citizenship by investment program is a Caribbean immigration initiative allowing foreign investors and their family members to get a Grenada passport in exchange for an investment in the country’s economy. Investors have two options to qualify: A non-refundable contribution or a property investment.

A Grenada passport acquired through the Grenada CBI program considerably widens your worldwide opportunities. Ranking 76th on the Global Passport Index, the Grenada passport allows you visa free travel to over 140 countries, such as the UK, China, Singapore, Russia, and Europe’s Schengen Area.

It is also the only Caribbean passport offering the opportunity for the primary applicant and their family members to apply for the E-2 Visa in the US ― allowing you to own a business and reside in the United States.

Grenada citizenship investment routes

In order to apply for the Grenada citizenship by investment program, investors have the option of one of two investments:

Invest in the National Transformation Fund:

The Grenada National Transformation Fund (NTF) was introduced in 2013 to develop Grenada’s economy and social prosperity. A single applicant must make a financial contribution of at least $150,000. The minimum contribution to the National Transformation Fund rises to $200,000 for an application for four family members.

Invest in pre-approved real estate:

Those looking to invest in the Caribbean real estate market can choose from a sole or joint Grenada real estate investment:

• Sole: Requires a pre-approved real estate purchase worth at least $350,000
• Joint: Requires a pre-approved real estate purchase of at least $220,000 per investor.

Eligibility requirements for Grenada citizenship by investment

The Grenada’s government will consider the following applicants for its economic citizenship program:

Main applicant

• 18 or over
• Of outstanding character
• In good health
• Clean criminal record

Family members

• Spouse
• Children under the age of 18
• Children aged 18 to 29, supported by the main applicant or spouse
• Children aged 18 or over who are physically or mentally challenged
• Dependent parents or grandparents of the main applicant or spouse, who are 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

Rules of Investment in Grenada

The Grenada citizenship by investment program is enshrined in the Grenadian Parliament Act No. 15 of 2013. The Grenada citizenship by investment act is designed to “enable persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada.”

Since its introduction, the Grenada citizenship by investment program has proven to be immensely successful, playing a significant role in driving economic development within the country. An added benefit is that the cost of living in Grenada is cheap, and labor is more affordable compared to other Caribbean CBI countries. Grenada passport holders can enjoy lower operational costs and potentially higher returns on their investments.

Tax Exemptions for Expats in Grenada

Grenada’s tax regime is favorable to its residents and citizens. There are no capital gains, inheritance tax, income, or wealth tax on worldwide income or assets.

Some local tax considerations do apply, such as:

• An 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 ten percent, and the excess at 28 percent.
• Companies have to pay a flat tax rate of 30 percent. There is a withholding tax of 15 percent on payments sent to a non-resident for interest (except bank deposits), rent, lease premiums, licenses, royalties, management charges, commissions, and fees.
• Grenada’s VAT amounts to 15 percent. For hotels and dive activities, the VAT cost is ten percent.
• Property transfer tax for citizens is generally five percent payable by the vendor or seller.
• The annual taxes in Grenada include property tax, which is 0.2 percent of the market value for residential property related to land and 0.3 percent on buildings.
• The stamp tax on business receipts is 0.70 percent of the gross receipts over XCD 300,000.

Grenada Investment Opportunities

Tourism in Grenada

One of Grenada’s main industries is tourism. Due to Grenada’s incredible beauty, its forty white sandy beaches, turquoise waters, tropical forests, waterfalls, and mesmerizing coral reefs, the island has been attracting tourists worldwide.

The tourism industry has been booming over the last few years due to the creation of infrastructures such as the Maurice Bishop International Airport, as well as the development of Grenada marinas in St Georges and Prickly Bay.

Pre-approved Grenada real estate investment opportunities to acquire Grenada citizenship by investment, such as luxury villas, resorts, and restaurants. Visitors can enjoy numerous outdoor activities, such as diving and sailing.

Real estate in Grenada

Due to a booming tourism market and an increase in expats relocating to Grenada, the Grenada real estate market is flourishing and offers solid investment opportunities. Grenada has many property options, including newly built apartments, luxury villas, beach bungalows, comfortable family homes, and historic plantation homes.

Many investors acquire Grenada property to rent out and earn significant returns on investment while gaining Grenadian citizenship in the process. Additionally, Grenada is the only Caribbean country offering dual citizenship by investment with real estate that is not at risk of hurricanes impacting Caribbean islands.

For a minimum investment of $220,000 for a joint investment or $350 for a sole investment in pre-approved accommodation, investors are granted citizenship and Grenada passports.

Agriculture and manufacturing in Grenada

Agriculture has always been one of Grenada’s major economic assets. Grenada is one of the biggest exporters of nutmeg and mace, and it also exports bananas, cloves, cinnamon, and cocoa.

Thanks to Grenada’s efficient port and airport infrastructure, Grenada’s agricultural products can be transported all over the world. Some of Grenada’s major economic partners are the United States, Canada, Switzerland, and the Netherlands.

Manufacturing is also an excellent Grenada investment. Grenada produces textiles, paper products, beverages, and the assembly of electronic components for exportation.

Grenada's Advantages for Investors

Grenada has the necessary infrastructure to support investment, such as sea and land transportation, electricity generation, telecommunications, and water.

Prices and costs are competitive, with electricity prices comparing favorably to the average for other Caribbean countries, offering citizenship by investment and renewable energy widely available.

Investors obtaining Grenada citizenship by investment can employ a young English-speaking workforce with a high level of adult literacy at 96 percent. Tax rates on labor are low by regional and world standards, and minimum wage is competitive with other countries in the region.

Talk to a Specialist about Investing in Grenada

Thinking about investing in Grenada? Talk to one of our Global Citizen Solutions specialists.

Our dedicated team will work solely on your behalf. We are committed to providing a specialized service to each of our clients with the knowledge that comes with years of expertise, as well as access to a proprietary database of market information.

We give insight and data analysis to allow our clients to make foreign investments with confidence.

Frequently Asked Questions about Grenada Investment Opportunities