Grenada Citizenship By Investment Program | A Complete Guide

What is Citizenship By Investment Program?

Citizenship by Investment (CBI) programs, also known as the Passport Programs, are government initiatives that allow foreign nationals to obtain citizenship in a country by making a significant financial contribution or investment in that country’s economy. This process offers a legal and relatively fast route to acquiring a new nationality and passport, often within a few months, depending on the program and country.

Currently, there are ten globally stable and reputable passport programs:

• Caribbean: Saint Kitts and Nevis, Antigua and Barbuda, Grenada, Dominica, and Saint Lucia.

• Pacific: Vanuatu.

• Middle East: Turkey, Jordan, and Egypt.

• Southeast Asia: Cambodia.

In addition to these countries, Malta, after canceling its passport program, has introduced a new fast-track citizenship law called MEIN (Malta Exceptional Investor Naturalization). By donating a certain amount of money, investors can secure naturalization and citizenship within 1 to 3 years.

Overall, while the global Citizenship by Investment programs require significant financial investment, they offer several advantages:

1. Quick Passport Acquisition: In most CBI countries, once the investment is made, applicants can obtain a passport within 3 to 4 months, or even just a few weeks.

2. Lenient Background Checks: Although there has been increased scrutiny on background checks due to pressure from the EU and the US, compared to major countries’ green card programs, the background checks for CBI programs in smaller countries are still relatively lenient, sometimes even superficial.

3. No Residency Requirement: Almost all CBI countries have a zero-immigration-residency policy. In most cases, applicants can apply for and hold citizenship without ever having to reside in the country.

4. Broad Dependent Eligibility: Many CBI programs allow multiple generations of the primary applicant’s family, including grandparents and grandchildren, to be included regardless of age or status.

Grenada Citizenship By Investment Program:

Since 2013, Grenada has welcomed global investors through its Citizenship-by-Investment Program, offering two streamlined economic pathways to quickly acquire Grenadian nationality:

1. Donation Option: This option requires applicants to make a donation to the local government’s National Transformation Fund (NTF) to acquire a passport. For a family of up to four people, the required donation is $235,000 USD.

If there are more than four family members applying for passports with the principal applicant, the donation amount increases as follows:

• For each additional child under 18 or parent/grandparent aged 55 or over: an additional $25,000 USD.

• For each additional parent/grandparent under 55: an additional $50,000 USD.

• For each additional sibling of the principal applicant: an additional $75,000 USD.

In addition to donation, you will also need to pay the following four government fees:

• Visa fee: $1,500 USD per principal and dependent applicant.

• Background check fee： $5,000 USD per person (dependents under 16 are exempt).

• Visa processing fee: $1,500 USD per person (dependents under 18 pay $500 USD per person).

• Interview fee: $100 USD per principal and dependent applicant aged 17 or over.

2. Real Estate Option：This option requires applicants to invest in government-approved real estate projects in exchange for a passport.

Under this model, you need to invest in properties listed by the local government. You can choose to:

• Make a single investment of at least $350,000 USD.

• Co-invest with other applicants in a property with a total value of no less than $440,000 USD, with each applicant investing a minimum of $270,000 USD.

In both cases, the property must be held for a minimum of five years to qualify for a Grenadian passport for a family of up to four people.

In addition to the property purchase, main applicant must also donate $50,000 USD to the Grenadian government. If there are more than four family members applying for passports with the principal applicant, the donation amount increases as follows:

• For each additional child under 18 or parent/grandparent aged 55 or over: an additional $25,000 USD.

• For each additional parent/grandparent under 55: an additional $50,000 USD.

• For each additional sibling of the principal applicant: an additional $75,000 USD.

Beyond the property purchase and donation requirements, you will also need to pay the following four government fees:

• Visa fee: $1,500 USD per principal and dependent applicant.

• Background check fee: $5,000 USD per person (dependents under 16 are exempt).

• Visa processing fee: $1,500 USD per person (dependents under 18 pay $500 USD per person).

• Interview fee: $100 USD per principal and dependent applicant aged 17 or over.

Properties acquired through the real estate option can be sold immediately after obtaining the passport. However, if you are reselling the property to another foreign investor who is also applying for Grenadian citizenship, you must hold the property for at least five years before it becomes eligible for resale.

In addition to the financial requirements, investors must also meet basic conditions, including being at least 18, being in good health, and having no criminal record.

What is the advantages of Grenada’s Citizenship By Investment Program?

Compared to other Citizenship by Investment programs, Grenada’s passport offers several distinct advantages:

1. Extensive Visa-Free Travel:

The Grenadian passport provides visa-free access to 148 countries and regions worldwide, including major destinations like China, Russia, the United Kingdom, and the Schengen Area. Notably, Grenada is the only country with a Citizenship by Investment program that offers visa-free entry to China.

Furthermore, Grenada is a signatory to the E-2 Investor Visa Treaty with the United States. This allows Grenadian citizens to potentially relocate to the U.S. through the E-2 visa pathway.

2. Broad Dependent Inclusion:

The Grenada CBI program stands out for its inclusive dependent policy. The principal applicant can include a wide range of family members, such as their spouse, children, parents, and even siblings, as co-applicants for citizenship.

3. Favorable Tax Environment:

Grenadian citizens benefit from significant tax advantages. There is no global income tax levied on their worldwide earnings. Additionally, Grenada does not impose most common taxes, including asset tax, inheritance tax, gift tax, or stamp duty.

These compelling advantages have significantly boosted the popularity of Grenada’s Citizenship by Investment program, leading to its continuous growth and widespread appeal among investors.

How to apply for Grenada’s Citizenship By Investment Program?

The application process for the Grenada Citizenship by Investment program can generally be divided into the following steps:

1. Engage with an Authorized Agent: Similar to other Caribbean Citizenship by Investment programs, Grenada’s program does not permit direct applications. You must sign a contract with a government-approved local agent. This agent will assist you in compiling all necessary documentation and submitting your application.

Required documents for the program include:

• Applicant Identity Documents: Valid passports (for all principal and dependent applicants) and passport-sized photos. Proof of relationship documents (e.g., birth certificates, marriage certificates) for all principal and dependent applicants.

• Application Forms: With your agent’s help, you’ll complete at least six application forms, covering personal information, fingerprints, employment history, and investment status.

• Proof of Funds: You’ll need to provide documentation such as bank statements from the past 12 months for your primary accounts, a personal resume, and a statement of your financial position to demonstrate sufficient eligible funds for transfer to Grenada.

• Medical Certificate: All principal and dependent applicants must undergo a medical examination.

• Police Clearance Certificate: All adult principal and dependent applicants must provide a police clearance certificate issued by the law enforcement authority in their place of residence.

All documents originating outside Grenada must be legalized (notarized and/or apostilled). All non-English documents must be translated into English.

2. Application Submission: In this step, your agent will assist you in filling out the application forms, preparing all required materials, and submitting your application to the relevant authorities.

3. Due Diligence and Background Check: Grenada’s Citizenship by Investment Committee (CBIC) is responsible for reviewing all passport program applications and supporting documents. Once verified, the Grenadian government will conduct a thorough background check on all principal and dependent applicants aged 17 and above.

In recent years, due to pressure from the European Union, the Grenadian government now requires all principal and dependent applicants aged 17 and over to undergo a brief video or in-person interview as part of the background check process.

Upon completion of the background check, the CBIC will send its recommendation on whether to issue citizenship to the Prime Minister’s Office. The Prime Minister will then make the final decision on granting citizenship based on the CBIC’s recommendation.

4. Complete Investment：Once your application receives preliminary approval from the Grenadian government, you will receive a detailed instruction letter to complete your investment or donation and pay all associated fees.

After you’ve completed your investment, your agent will submit proof of your investment completion to the CBIC and will collect your passport on your behalf.

The entire Grenada passport application process, from application submission to fund transfer and passport acquisition, typically takes approximately three to four months. All procedures can be completed remotely from outside Grenada, and passport holders are not even required to enter Grenada at any point in their lifetime.

Dependents:

Grenada’s Citizenship by Investment program offers broad inclusion for family members. The principal applicant can include the following individuals as dependents to obtain Grenadian citizenship together:

• Spouse of the principal applicant

• Children of the principal applicant or spouse, under the age of 30

• Parents and Grandparents of the principal applicant or spouse

• Unmarried Siblings of the principal applicant or spouse

Minimum Residency Requirement:

One of the significant advantages of the Grenada passport is that it comes with no minimum residency requirements. You can apply for and hold Grenadian citizenship for your entire life without ever needing to set foot in the country.

The Grenada passport is valid for five years. When it’s time for renewal, you can conveniently complete the process at any Grenadian embassy or consulate located outside the country.

Useful Links:

Grenada CBI official site：https://cbi.gov.gd/index.php