Grenada Citizenship

Grenada Citizenship by Investment Program

Grenada’s Citizenship by Investment (CBI) program, is one of the most popular citizenship-by-investment programs in the Caribbean. Launched in 2013, the program offers investors the opportunity to obtain Grenadian citizenship through a variety of qualifying investments. Known for its flexibility, access to visa-free travel, and unique benefits, including eligibility for the United States E-2 Investor Visa, Grenada’s program continues to attract high-net-worth individuals worldwide.

Overview of Grenada's Citizenship by Investment Program

Grenada, an island nation in the Caribbean, is known for its picturesque landscapes, thriving tourism industry, and stable political environment. The Citizenship by Investment program allows individuals and their families to acquire citizenship in exchange for investing in the country's economy. Once granted, citizenship is for life and can be passed on to future generations.

One of the unique advantages of Grenada’s CBI program is its access to the United States E-2 Visa, which allows Grenadian citizens to live and operate a business in the U.S. Additionally, Grenada offers visa-free or visa-on-arrival access to over 140 countries, including key markets like the UK, the Schengen Zone, China, Russia, and Hong Kong.

Key Benefits of Grenada's CBI Program

Grenada’s Golden Visa program stands out due to several key advantages:

1. Visa-Free Travel: Citizens of Grenada enjoy visa-free or visa-on-arrival access to more than 140 countries and territories, including the United Kingdom, Schengen Zone countries, China, Russia, and Hong Kong.

2. Eligibility for U.S. E-2 Visa: Grenada is one of the few countries whose citizens are eligible for the U.S. E-2 Investor Visa, allowing them to live and operate a business in the United States.

3. No Residency Requirements: Investors do not need to reside in Grenada before or after obtaining citizenship, making the program particularly flexible for those who wish to maintain their current lifestyle.

4. Dual Citizenship Allowed: Grenada permits dual citizenship, meaning investors are not required to renounce their original nationality.

5. Family Inclusivity: The program allows the inclusion of dependents, including spouses, children, parents, and even siblings in some cases.

6. Lifetime Citizenship: Once acquired, Grenadian citizenship is for life and can be passed down to future generations.

Investment Options

1. National Transformation Fund (NTF) Donation:

• $235,000: Non-refundable donation for a main applicant and up to three dependents.

• $25,000: For each additional dependent beyond the initial three.

This option remains a straightforward and relatively fast route to obtaining citizenship, particularly attractive for those who prefer not to manage real estate holdings.

2. Real Estate Investment:

- Investors can also qualify by investing in government-approved real estate projects, primarily in the tourism and hospitality sectors. These projects typically include luxury resorts, hotels, and villas.

• $350,000: Minimum investment in a government-approved real estate project.

• $270,000: For a shared unit in a tourism accommodation project (government-approved).

• Additional Fees: A government contribution of $50,000 for the main applicant and up to three dependents is required, with $25,000 for each additional dependent.

2. Real Estate Investment:

- Investors can also qualify by investing in government-approved real estate projects, primarily in the tourism and hospitality sectors. These projects typically include luxury resorts, hotels, and villas.

- The minimum required real estate investment is $270,000. However, the real estate must be held for at least five years before it can be sold.

- Investors choosing this route may also incur additional fees, including property taxes and legal fees. The real estate option allows investors to potentially recoup some of their initial investment through property appreciation or rental income.

Both options offer a pathway to Grenadian citizenship, and investors must decide based on their financial goals and preferred level of engagement with the country’s economy.

Application Process

The process for obtaining Grenadian citizenship through the CBI program is straightforward, typically taking between 3-6 months from submission to approval. Here’s a breakdown of the steps involved:

1. Select an Investment: The first step is to choose between the NTF donation or a real estate investment. This decision will shape the subsequent application process.

2. Engage with an Authorized Agent: Grenada requires all CBI applications to be submitted through an authorized agent. Applicants cannot apply directly to the government. The agent will guide the investor through the entire process, including documentation and compliance checks.

3. Prepare Documentation: Applicants must gather and submit the required documentation, which typically includes a valid passport, birth certificates, proof of funds, police clearance, medical reports, and evidence of the qualifying investment.

4. Due Diligence Checks: Grenada’s Citizenship by Investment Unit (CIU) conducts thorough due diligence on all applicants to ensure they meet the program’s requirements. This includes background checks by international firms.

5. Submit the Application: Once all documents are prepared, the agent submits the application to the CIU on behalf of the investor. Processing fees and due diligence fees must be paid at this stage.

6. Approval and Investment Completion: Upon successful completion of the due diligence process, the investor will receive a letter of approval in principle. At this point, the required investment (either the donation or real estate purchase) must be completed.

7. Issuance of Citizenship: Once the investment is confirmed, citizenship certificates and passports for the investor and their dependents are issued.

Costs and Fees

In addition to the required investment amounts, applicants should be aware of the additional fees associated with the program:

- Due Diligence Fees: Due diligence checks are mandatory for all applicants. The fees are $5,000 per main applicant and additional fees for dependents over the age of 16 (typically $5,000 per dependent).

- Government Processing Fees:

- For NTF donations: $10,000 per main applicant.

- For real estate investment: $50,000 for a family of up to four, with an additional $25,000 per sibling, and $75,000 per dependent parent.

- Legal Fees: Legal fees vary depending on the complexity of the case but typically range between $3,000 and $8,000.

- Passport Issuance Fees: Each passport issuance costs approximately $250.

Grenada's E-2 Visa Advantage

One of the standout features of Grenada’s CBI program is its eligibility for the U.S. E-2 Investor Visa. The E-2 Visa allows citizens of treaty countries, like Grenada, to live and work in the United States by investing in a U.S.-based business. The minimum investment for the E-2 Visa is typically around $100,000 (though it can vary depending on the nature of the business), and it must generate sufficient income to support the visa holder and their family.

For investors seeking access to the U.S. market, Grenada’s CBI program offers a unique advantage not available through other Caribbean programs.

Citizenship by Investment Program Updates in 2024

As of 2024, the Grenadian government has remained committed to maintaining the flexibility and appeal of its CBI program. The government continues to expand the list of government-approved real estate projects to ensure diversity in investment opportunities, particularly in the tourism and hospitality sectors.

In addition, the government has emphasized rigorous due diligence to preserve the integrity of the program. Grenada remains one of the most transparent and secure CBI programs in the Caribbean, with high standards for applicant vetting.

Conclusion

Grenada’s Citizenship by Investment program remains one of the most attractive in the world, combining the benefits of visa-free travel, access to the U.S. E-2 Visa, and a straightforward application process. With a low minimum investment requirement compared to other programs, flexibility in investment options, and the inclusion of family members, Grenada’s CBI program continues to appeal to investors seeking a reliable path to global mobility and citizenship.

Whether through a donation to the National Transformation Fund or investment in real estate, Grenada offers an appealing solution for individuals and families looking to secure a second passport, diversify their investments, and access new global opportunities.