Grenada Citizenship by Investment
Investment options. Getting a Caribbean second passport by investment is a popular route, and Grenada provides it with its citizenship program.The program requires substantial financial contribution, and provides citizenship in approximately 8 months if the application is successful.
There are two main investment options:
- Donation to the National Transformation Fund (NTF). A non-refundable donation of at least $235,000 for a single applicant. The NTF is designed to support public projects that contribute to Grenada’s economic development, such as infrastructure and healthcare.
- Real estate investment. Investors can purchase property in approved real estate projects with a minimum value of $270,000. The property must be held for at least five years before it can be sold, ensuring a stable investment environment.
Associated costs and government fees include:
- Due Diligence fees of $5,000 per applicant and $2,000 per dependent over 16 years old;
- application fees, varying based on the number of dependents and can range from $1,500 to $10,000;
- legal fees typically range from $10,000 to $20,000, depending on the complexity of the application and services provided.
Family inclusion. Investors can include their relatives in the program application, namely:
- spouse;
- financially dependent children under 30;
- financially dependent parents;
- financially dependent grandparents.
Each additional family member incurs extra costs, such as due diligence fees.
Importance of contacting a licensed agent. Per Grenadian law, only licensed agents can handle applications for the Citizenship by Investment program. Investors can not apply on their own or through an unlicensed firm.
Grenada Citizenship by Marriage
Marriage to a Grenadian citizen. Another way to gain Grenadian citizenship is through marriage. This route is relatively straightforward but involves specific requirements and a waiting period.
Eligibility criteria. To qualify, one must be legally married to a Grenadian citizen, and to reside in Grenada for at least one year after marriage before applying for citizenship.
Application process. The procedure involves collecting personal documents, such as a marriage certificate and proof of residence. The documents and an application form are submitted to the Grenadian immigration department for approval and naturalisation.
Application process can be completed remotely —no need to visit Grenada.
Grenada Citizenship by Descent
Citizenship through ancestry. If you have Grenadian ancestry, you might be eligible for citizenship by descent. This method is often quicker and less costly compared to other pathways.
Eligibility criteria. To qualify, one must: have at least one parent or grandparent who is a Grenadian citizen, and provide documentation proving your lineage.
Application process involves collecting birth certificates, passports, and other evidence of one’s family connection to Grenada. These documents and the application form are submitted to Grenadian authorities for verification.
Alternative Pathways
Business investment. Starting a business in Grenada and contributing to the local economy can pave the way to permanent residency and eventual citizenship. This involves setting up a business, registering a company and creating jobs for Grenadian citizens, and keeping a long-term residence.
Residency and naturalisation. Another route to citizenship involves residing in Grenada for an extended period, typically seven years.
Benefits of Grenada Citizenship
Visa-free travels. Access to over 140 countries, including Schengen Area, UK, China, Hong Kong, and Singapore.
Tax advantages. No income, wealth, inheritance, or capital gains tax. No estate or gift tax.
Business opportunities. Stable business environment, incentives for investors. Regional integration also comes with advantages, such as from Caribbean Community (CARICOM) and Organisation of Eastern Caribbean States (OECS) membership.
Eligibility for US visas. Includes the B-1/B-2 tourist visa valid for 10 years, and the E-2 business visa.
Education and healthcare. Access to high-standard medical services and education, including international schools and the renowned St George’s University.
Quality of life. Safe, peaceful environment, favorable climate, and cultural richness.
Citizenship for life. Citizenship is granted forever, and is hereditary to future generations.
In a Nutshell
The ways to obtain Grenada citizenship include investment, marriage, and descent. The investment pathway is among the fastest, allowing one to get the status in 8+ months.
To participate in the Grenada Citizenship by Investment program, investors must contact a licensed agent.