Grenada’s Citizenship by Investment (CBI) program offers a unique opportunity to obtain a second passport and enjoy numerous benefits, including visa-free travel to many countries and tax advantages. Known as the “Spice Isle,” Grenada is a picturesque Caribbean island that attracts investors worldwide. This guide explains everything you need to know about acquiring Grenadian citizenship through investment, including requirements, investment options, and what the application process entails.
What Is Grenada’s Citizenship by Investment Program?
Grenada’s citizenship by investment program was established to boost the island’s economic growth. The program allows qualified investors and their family members to become citizens by making a financial contribution to the Grenadian government or investing in government-approved real estate projects.
Successful applicants gain Grenadian citizenship, which provides several benefits, such as dual citizenship, visa-free access to more than 140 countries, including the UK, the EU Schengen Zone, Hong Kong, and Singapore. Grenada is also one of the few Caribbean nations with an E-2 Visa treaty with the United States, allowing Grenadian citizens to apply for a non-immigrant E-2 Visa to live and work in the U.S.
Key Benefits of Grenadian Citizenship
- Visa-Free Travel: As a Grenadian citizen, you can enjoy visa-free travel or visa-on-arrival access to over 140 countries, including key business hubs like the UK, Hong Kong, and the EU Schengen Zone.
- E-2 Visa Eligibility: The Grenada CBI program offers eligibility for the U.S. E-2 Visa, a significant advantage for individuals seeking business opportunities in the U.S.
- Dual Citizenship: Grenada allows dual citizenship, so you don’t need to renounce your current nationality. This can be especially beneficial for potential tax optimisation and maintaining ties with multiple countries.
- No Residency Requirement: There is no minimum stay requirement, meaning you don’t have to live in Grenada to maintain your citizenship status.
- Tax Benefits: Grenada does not impose capital gains tax, inheritance taxes, or taxes on worldwide income, making it an attractive option for investors seeking foreign investment opportunities.
Investment Options for Grenada’s CBI Program
Grenada’s Citizenship by Investment (CBI) program offers a range of attractive investment options for those seeking a second passport. Whether you’re interested in real estate or government donations, this section will explore the available choices, helping you decide the best investment path for securing Grenadian citizenship.
National Transformation Fund (NTF) Contribution
The NTF is a government fund that supports various projects to drive economic growth. A non-refundable contribution to the NTF is one way to secure Grenadian citizenship. The required minimum investment for a single applicant or family of 4 is USD 235,000. Additional contributions are required for each additional person or dependent children. These funds support infrastructure development, education, and public services in Grenada.
Real Estate Investment
The second option is to invest in government-approved real estate projects. These real estate investments must meet the minimum investment threshold of USD 270,000 and be held for at least five years. An additional contribution of USD 50,000 is required under the real estate option. This option allows investors to potentially earn rental income and sell the property after the holding period. Pre-approved real estate includes luxury resorts, hotels, and government-approved projects on the island.
Why wealthy individuals are investing in second citizenship
What are the Eligibility Requirements for Grenada?
To be eligible for Grenadian citizenship, applicants must meet the following criteria:
- Be at least 18 years old.
- Make a qualified investment in the National Transformation Fund or real estate.
- Pass the diligence checks, which include background checks and proof of adequate funds.
- Provide all required citizenship documents, including medical certificates, birth certificates, and a current passport.
- Pay all applicable fees, such as government fees, diligence fees, and processing fees.
Step-By-Step Guide to Grenada’s Citizenship By Investment Application Process
Grenada, a beautiful Caribbean country, offers one of the most popular citizenship programs through investment. This step-by-step guide will walk you through Grenada’s citizenship by investment process, helping you understand each requirement and stage. Secure your second passport by following these essential steps for a smooth application experience.
1. Choose an Investment Option
A dedicated citizenship lawyer, like those at JHMarlin, can help you choose the best option for your needs. They can guide you in selecting either the donation option to the NTF or the real estate investment route, both of which have specific capital requirements and unique benefits tailored to different investment goals and preferences.
Citizenship by investment: How to choose the right program for your family
2. Engage an Authorized Agent
Applications for Grenadian citizenship must be submitted through a licensed agent. These agents guide applicants through the entire process, ensuring that all documentation, including birth certificates, divorce certificates, and medical certificates, are in order.
3. Submit the Application
After choosing an investment option and gathering the necessary documents, the agent will submit your citizenship application to the Grenadian government. This includes filling out application forms, providing proof of a source of funds, and paying the application processing fee and other applicable government fees.
4. Diligence Checks
The due diligence process is crucial to ensure that applicants meet the program’s criteria. The Grenada Citizenship by Investment Unit (CIU) performs background checks to verify the source of funds and confirm that applicants do not have a criminal record or pose a potential risk to the nation. Diligence fees for a single applicant are approximately USD 5,000, and there are additional fees for family members.
5. Approval and Investment
Once the due diligence process is complete and the application is approved, the applicant must make the required investment or contribution. For the real estate option, the investment must be in a government-approved project, while for the NTF, the non-refundable contribution must be made directly to the government fund.
6. Citizenship and Passport Issuance
Upon completing the investment, applicants receive their certificate of citizenship and can apply for a Grenadian passport. Processing time for the passport is typically two to three months after the investment is finalized. Passport fees and other government fees need to also be paid before the final passport is issued.
Contact a licensed citizenship by investment expert
Costs and Fees Associated with Grenada’s CBI Program
The Grenada CBI program involves several costs beyond the initial investment or contribution:
- Processing Fees: These are typically USD 1,500 per applicant.
- Due Diligence Fees: Approximately USD 5,000 per applicant.
- Government Fees: These vary based on the number of dependents included in the application.
- Interview Fees: A small fee of USD 1,000 is required for each applicant. Children under 17 are exempt from this.
Explore Your Citizenship Options with the Help of JHMarlin
At JHMarlin, we specialize in guiding clients through the complexities of gaining citizenship through investment. Our team provides tailored legal services to meet your unique needs. Whether you’re seeking global opportunities or enhanced mobility, we handle every detail of the process with the utmost professionalism. Our experience ensures a seamless journey, helping you achieve your goals efficiently. You can trust us to assist you every step of the way in your pursuit of citizenship through investment!