Grenada citizenship by investment
Grenada citizenship by investment program
What is Grenada’s CBI program?
The Grenada Citizenship by Investment Program reopened in 2013 when the Grenadian Parliament passed Act No.15 of 2013 the ‘Grenada Citizenship by Investment Act, 2013’ enabling persons to obtain a second passport through its official Grenada Citizenship by Investment Program. The Grenada Caribbean Citizenship by Investment program has many unique features for investors, and allows Grenada passport holders visa free access to over 135+ countries, including China amongst other countries.
Grenada is recognized for its white-sand beaches, crystal blue waters, lush green rainforests and spice exports. Many high-net worth individuals choose to spend time in Grenada every year for its tranquil peaceful environment. There are many sailboats scattered around the island as Grenada is a sailors paradise. Grenada is an offshore haven and people looking to obtain a second passport can do so through its passport program. While there are other citizenship programs in the region, Grenada offers some unique features that set it apart from other citizenship by investment programs.
Grenada is particularly attractive to International Investors
For international investors, Grenada offers a unique citizenship by investment programme. The Grenadian government is a stable government that has worked hard to develop and promote the benefits of Grenada CBI to foreign investors. Under the investment opportunity, an investor can include their dependent parents, dependent children, grandparents and dependent siblings. In some cases, you can include your entire family.
Successful applicants are granted citizenship for life with a highly ranked passport. Grenada citizenship along with Dominica citizenship are the only two economic citizenship by investment programs that offer visa free travel to China.
Interested in a Grenada citizenship? J.H. Malrin can help you!
Grenada Citizenship by Investment offers Different Investment Options
One option is that an applicant can make a donation to the National Transformation Fund. An applicant, after undergoing background due diligence checks and being successful in their application can make a donation to the investment fund and in turn get citizenship and a passport from Grenada. The required contribution for a single applicant starts at US$150,000. For a couple the contribution amount is US$175,000 and a family of 4 the contribution amount is US$200,000. There are additional due diligence fees of US$5,000 for the principal applicant, US$5,000 the spouse, US$5,000 any person who is 17 years of age or older. Additionally there are processing fees, application fees and legal fees. The cost of citizenship depends on your unique family situation. For a full cost breakdown specific to your case, please get in touch via email. In our experience, most investors opt for the non-refundable contribution option as it is quick.
An applicant can gain citizenship through Property Investment
Grenada has an Approved Real Estate for the Grenadian Citizenship program
Real Estate option #1:
There is the option to invest in approved projects in Grenada under the real estate investment option. Under this option, investors can either invest in real estate developments which include hotels, villas, and resorts. Under the real estate option, investors must invest a minimum investment of US$350,000 and maintain the real estate property for a minimum five year holding period. In addition to the required contribution amount for the property, there is a US$50,000 government fee, with a due diligence fee, processing, application and legal fees applicable. There may be the possibility for rental income. Note that under this property investment option there may be property tax and insurance fees.
It is important that the real estate selected for citizenship is pre-approved real estate.
Real Estate option #2:
There is the option to invest in a real estate share investment starting at US$220,000 with a government investment of US$50,000. Additional due diligence fee, processing fee, application and legal fees are applicable. For a detailed cost quotation please consult us.
What are the Requirements for a Citizenship Application?
- The primary applicant must be at least 18 years of age to do the programme (minimum age requirement)
- The primary applicant and family members included in the application must be of good character and have a clean background
- The primary applicant must be capable of making the investment contribution
What are grenada’s citizenship by investment advantages
VISA FREE TRAVEL
Summary of the Main Advantages for Grenada Economic Citizenship Program
- Visa-free travel to 140 countries, including the Schengen countries, China, United Kingdom, Hong Kong and Singapore
- The average processing time is around 6 months. Application processing time varies depending on the client situation.
- Contribution to Grenada’s Government (minimum investment of US$150,000 for a single applicant) or Investment in Grenada’s Government Approved Projects
- Payment is only required once approved
- Grenada is a E-2 Treaty Country and has an E-2 Visa Treaty with the United States
Why work with JH Marlin to become a Grenada citizen by investment?
JH Marlin Law has helped clients choose the citizenship program that is right for them for years.
As an experienced licensed agent for citizenship, we can do a detailed analysis of your personal circumstances and provide further information about different citizenship by investment options and corresponding processing times. We will assist you with all the required citizenship documents for you to have a successful application and coordinate with any other parties or local agents involved in the process.
Frequently Asked Questions for Grenada citizenship by investment
An investor can include family members in their application for citizenship. You can include your spouse, dependent children, dependent parents, grandparents and unmarried siblings. In some cases people can include their entire family in a citizenship application. The fees to include different family members is dependent on your family composition.
Note that there may be restrictions on adding additional family members at a later date.
Please consult us to determine if you have an eligible parent, eligible child, or eligible sibling who can be included in your application.
There is no visit to the island required as part of the citizenship application process.
There is no requirement to renounce your current citizenship as part of the process as Grenada allows dual citizenship.
It takes on average 3-6 months to become a citizen of Grenada. Only when you are approved do you need to make the investment contribution.
Similar to Canada and the United States, you need to renew your passport every fixed number of years. Grenadian passports are valid for five years. This means that you need to renew your passport every five years. You can renew your passport at a Grenadian consulate or directly in Grenada through an attorney.
You can choose to either renew the passport at the Grenadian passport immigration office or through a Grenadian consulate.
According to the Grenada Income Tax Act Cap. 149, the individual tax rate is 15% to 30%. Companies are taxed in Grenada at a flat rate of 30%. The VAT is 15% and there is property transfer tax at 5% and annual property tax of 0.2% of the market value of the property. There is also stamp tax.
To be tax resident of Grenada a person must be physically present in Grenada for over 183 days in the fiscal year.
There are many forms that need to be completed as part of the citizenship application process. When you become a client, JH Marlin Law will provide you with the application forms, documents and sample documents specific to your situation. Some of the required application documents include; a personal information form, fingerprints, particulars of the office of home affairs, employment status form and investment confirmation form. We will help you with the entire citizenship application process. Applicants are required to have a valid passport, a valid national ID such as a drivers license, a birth certificate in long format, bank statements showing proof of source of funds, original reference letter, professional reference letter, amongst other documents. Applicants will also need to obtain a police clearance certificate and undergo a medical examination. Prior to making a submission of a citizenship by investment application, we will review in detail all the documents in advance to ensure that everything is correct.
The Citizenship by Investment committee reviews all applications for Grenada citizenship by investment. The purpose of the committee is to ensure the integrity of the programme and citizenship by investment jurisdiction, while at the same time attracting foreign direct investment to the country. Investment The funds raised through the investment program have had an impact on the local economy helping create long-term employment opportunities and further develop infrastructure.
Justin Sun, a top leading cryptocurrency investor and the founder of TRON is a citizen of Grenada. He currently serves as the Ambassador to the World Trade Organization (WTO) for Caribbean isle nation of Grenada. Grenada does not make the list of economic citizenship applicants public and therefore it is not possible to know the identities of people who did the CBI program.
If you are looking to relax on a white sandy beach then Grenada might just be a great option for a perfect beach holiday for you. Some of the beaches include; Grande Anse beach, La Sagess beach, Magazine beach, Mourne Rouge Beach, Petit Bacolet Bay, Hog Island and Levera Beach amongst others.
The Due Diligence process entails doing stringent background checks on all applicants who apply for the citizenship program. Having a criminal record is problematic and can be grounds for citizenship denial. The Compliance department at the citizenship by investment unit reviews all applications in great detail.
JH Marlin Law has processed many successful citizenship by investment applications. We have seen a growing trend of investors opting for the Grenada citizenship by investment programme.
Our firm comes across unique situations all the time and some of the situations include the following; applicant changed their name other than through marriage, variations on the applicant’s name across different documents, applicant is unable to obtain a birth certificate, a country does not allow dual citizenship, proof of address is listed under the spouse’s name, the applicant does not have 12 months of bank statements from which to make payment, the funds to be invested will be from the sale of an asset, applicant may be listed on a dishonest person list from China for example, applicant does not have a valid national ID or social security card, applicant is unable to get a police certificate from country of residence, a parent wishes to sponsor the citizenship application for their child, amongst others. Provided you have a unique situation we will guide you through what you can do to have a successful citizenship and passport application.
The US E2 visa is a non-immigrant visa that allows the visa holder the right to reside and work in the United States of America through establishing a business where the investor is the majority owner. To be eligible for a US E2 visa a person must be a citizen of a treaty country such as Grenada. The individual must make a substantial investment and have majority ownership (over 51% of the business) as well as maintain an executive title with the business. To maintain the US E2 visa the investor must renew the I-94 card every two years.
Some of the benefits of the E2 visa are as follows; quick processing time, no minimum investment specified (although a substantial investment is required), individual can migrate with their spouse and children who are below the age of 21, dependents of the investor do not need to necessarily be citizens of a treaty country with the US, investor can potentially change their status to transition to the EB-5 programme, applications for an E2 visa can be filed at any US embassy.
Congress created the EB-5 Immigrant Investor Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Investors may also qualify for EB-5 classification by investing through regional centers designated by USCIS based on proposals for promoting economic growth. However, the long wait times have driven investors to take their capital to other countries.
The E-2 Option
Considering these long wait times, a popular visa for this option is the E-2 nonimmigrant visa, granting status to investors, spouses, and minor children who are citizens of countries where there is a requisite treaty between the U.S. and the investor’s nationality. Only one E-2 treaty country allows an investor to quickly acquire citizenship, opening the door to the E-2 treaty: Grenada. Investors can quickly acquire a Grenadian passport and enter the U.S. in Treaty Investor status, allowing spouses to obtain employment and children to enroll in schools.
Those interested in obtaining Grenadian citizenship have three investment options to get a passport.
- Contribute to the country’s “National Transformation Fund” or “NTF.” This involves a one-time payment of $200,000 (for a family of 4 applicants) or $150,000 (for an individual applicant) to a national fund serving to revitalize the nation’s infrastructure and economy. There is no return on investment for this donation; it is just that, a donation.
- Invest a minimum of $350,000 in an approved real estate project. These projects must be pre-approved by the Grenadian government. You must also keep that investment for at least three years after gaining citizenship.
- The third option is to make a significant financial investment with the amount determined by the Minister, which benefits the Grenadian economy and will employ Grenadian citizens.
E-2 Investment Requirements
The investor must make a “substantial” investment, and the enterprise need not be “marginal.” Nationals must hold at least 50 percent of the ownership of the E-2 enterprise, and they must be in a position to “develop and direct” the enterprise. This involvement level is still less than the L-1 to EB-1C visa path, requiring full-time employment by the entity.
How much you need to invest depends on the business venture. For example, with a start-up, the investment would have to, at a minimum, cover all start-up expenses. However, an investment in a business consulting company would require less capital than an investment in a manufacturing facility.
Many investors choose to invest in franchises, enabling investment with less work than starting a business from scratch. Several U.S. franchises specialize in this area.
The E-2 has many advantages when compared to EB-5. The processing times are significantly faster since the E-2 visa application is made at a U.S. consulate, not with the U.S. Citizenship and Immigration Services (USCI). Processing times, depending on where you apply, are in the world but are usually a few weeks or months at the longest. Grenadians receive a nonimmigrant visa valid for five years, allowing entry and exit in two-year terms. The E-2 can be renewed at the end of the visa term.
It is important to consult us on specific country restrictions, as it can change. While one program might not be able to accept investor money for citizenship, another country offering citizenship by investment may be able to accept the applicant.
The citizenship process can take some time and it is important to keep open communication with the firm that is assisting you with the citizenship process. Here is a simplified version of steps for a citizenship application.
Step 1: Please provide an electronic picture copy of everyones current passports who will be included in the Grenada CBI application. We need to know your current citizenship and will do an internal diligence background check on you and your family members.
Step 2: We will prepare the initial documentation for you to complete to start the process which will include an application contact form and consent form, letter of engagement confirming all fees and initial invoice for payment. We will share with you internal documents specific to your case.
Step 3: We will go over all the documents that you need to complete and obtain. There are a lot of paperwork requirements and we will guide you throughout the entire citizenship process. We will review documents on an ongoing basis and help you with the entire application process. It is important to not make a false statement on the citizenship documentation. We will organize a pre-check of your file which helps accelerate and streamline your application. We will let you know if additional documents are required after doing a preliminary review of your file.
Step 4: Payment of the non-refundable due diligence fees & processing fee to start the process in advance
Step 5: Send us the completed citizenship application (original documents) once the file is complete and reviewed. We will prepare everything for document submission.
Step 6: Your full application will be submitted in physical copy and we will follow up with the citizenship by investment unit committee. You will receive an official confirmation of application submission. The citizenship by investment unit committee will conduct due diligence checks. It will take 3-4 months for a decision to be rendered for your file. There is no interview required and no physical presence required for the processing of your application.
Step 7: Once approved you will make the non-refundable donation and remaining fees. After payment is made you will be issued a Certificate of citizenship approximately 30 days after payment. We will also have you complete a passport application form and you will need to take an oath of allegiance.
Step 8: We will prepare documents and collect your passport. The final steps are issuance of passports.
Step 9: We will confirm with you where you would like us to send the passports. We will return all passport documents and internal documents that belong to you that are in our possession.
There are many advantages to Grenada CBI. In 2022, Grenada CBI has been one of the fastest growing CBI programs in the world and one of the most sought after CBI passport by investment programs by potential investors.
– High Visa free: Visa free travel to over 135+ countries which includes the UK, Schengen area, China, Russia, Balkan countries and more. You can travel to many countries without visa.
– E-2 Visa Treaty: Grenadian passport holders can apply for an E2 investor visa in the United States. Grenada is the only Caribbean passport by investment program which offers this unique feature.
– Ability to pass on citizenship: You can pass on citizenship to future generations
– Dual citizenship is recognized: Once you are a citizen, you are a citizen for life. As a citizen you can live and work in the country.
– Application can be completed remotely: You do not need to physically be in Grenada or come to the island to do the CBI process.
– Outside of hurricane belt: Grenada has not been impacted by a natural disaster to the extent of other islands in the Caribbean, as the country is located outside the hurricane belt.
– Good flight connections: Grenada has flights to Miami, London, New York and other top destinations
– Different investment types to choose from: There is a donation route and a real estate investment route to choose from.
– No residence requirement: No need to reside or spend time in Grenada to do the program and maintain citizenship and passport.
– Higher price: The Grenadian passport price is higher compared to other Caribbean islands offering citizenship by investment. You will be paying a premium to do this program. Grenada rarely engages in price reductions for it’s CBI program.
– Not the quickest program: Applications can take 3-6 months from the time of submission of the application and sometimes it may be a bit longer
– Difficulty renewing passports: Some articles online claim that renewing the Grenadian passport was difficult and took a long time.
– Limited Real Estate options: unlike other citizenship by investment programs there are limited real estate options to choose from. Many of the real estate projects are not built or completed yet.
There are five programs in the Caribbean that offer citizenship by investment. Economic citizenship countries in the Caribbean include; Antigua & Barbuda, Dominica, Grenada, Saint Lucia and Saint Kitts and Nevis. Each Caribbean citizenship program comes with unique benefits.
General Information about Grenada
Grenada also known as the ‘island of spice’ is located in the southern Caribbean Sea and consists of the island of Grenada and six smaller islands. The country is the second-largest exporter of nutmeg in the world.
Grenada is a peaceful Caribbean country with an estimated population of just over 100,000. While the population is small, Grenadians are highly educated.
The capital is St.George’s and the official language is English. French and creole are also spoken by some people.
The economy is tourism based and the currency is the Eastern Caribbean dollar. While Grenada does not have a very diversified economy, the Grenada CBI program is important to the country to bring in funds to the country. Grenada has a high debt and much of the country’s budget goes to paying off debt.
Grenada is home to many beautiful white-sand beaches including famous beach Grand Anse. Grenada attracts many high-net worth individuals to its shores every year and offers a high quality of life.
Grenada is located outside of the hurricane belt making it an island that is safer from natural disasters.
The Grenada citizenship by investment program has won awards for the best international citizenship programme. In 2021 there was a 30% increase in the number of applicants applying for Grenada citizenship with approximately 1,272 citizenships granted. 2022 has been off to a great start for Grenada with approximately 391 applications submitted in the first quarter.
140+ Visa Free Countries
- Cape Verde*
- Antigua and Barbuda
- Costa Rica
- Dominica Republic
- St. Kitts & Nevis
- St. Lucia
- St. Vincent & The
- Trinidad and Tobago
- Cape Verde*
- Czech Republic
- Ireland (Rep.)
- San Marino
- United Kingdom
- Vatican City
- Australia (e600 visa)
- Solomon Isl.*
* Visa on arrival