Grenada
The first thing to hit you when you step off the aircraft in Grenada is the smell of nutmeg in the air. This country isn’t called the Spice Island just like that. Grenada isn’t a single island but is made up of 3 major islands and 4 smaller islands in the Caribbean Sea. Along with numerous spice plantations, Grenada also boasts of beautiful sandy beaches, diving sites and other colorful towns. A majority of the Grenada population descends from people who immigrated here centuries ago. Today too, Grenada welcomes people who want to be citizens of this beautiful country.
Grenada is one of the most recent countries to offer a citizenship by investment program. This program is designed to help the economy of Grenada grow stronger and give immigrants dual citizenship. Some of the advantages of applying for citizenship to Grenada via this program are:

  • No minimum education requirement;
  • Faster processing of citizenship application;
  • No need to stay in Grenada when applying for citizenship or after citizenship is granted;
  • Vise-free travel to over 115 countries;
  • No taxation on capital gains, inheritance and gifts.

Fast Facts

Location: Southeastern Caribbean Sea; Capital: St. George’s; Time difference: UTC–4; Total Area: 348.5 km2; Population: 1,07,317 (2016); Calling Code: +1-473; Languages: English; Religions: Roman Catholic 44.6%, Protestant 43.5%, Other 11.9%; Government Type: Unitary parliamentary democracy under a constitutional monarchy; Currency: East Caribbean dollar (XCD); Exchange rate: 2.70 XCD = 1 USD (2018); Industries: Agriculture and Tourism

Citizenship Qualifications

Citizenship by Investment Program Qualifications

This route to citizenship allows individuals and their families to get Grenada citizenship by making an investment in the Grenada economy. To qualify for this program some of the conditions that need to be met are:

  • Applicant must be at least 18 years old;
  • Applicant must have a high net worth;
  • Applicant must have a good character;
  • Applicant must have good health;
  • Applicant must have no criminal records;
  • Applicant must be able to make the necessary investment.

There are two ways this investment can be made: National Transformation Fund and Real Estate.

National Transformation Fund:

  • Minimum non-refundable investment for single applicant or applicant with 3 dependents: USD 200,000
  • Investment per additional dependent member: USD 25,000;
  • Application Fee: USD 1,500 per applicant;
  • Due Diligence Fee per applicant/dependent over the age of 18 years: USD 5,000;
  • Due Diligence Fee per dependent between the ages of 12 and 17 years: USD 2,000;
  • Processing Fee per applicant/dependent over the age of 18 years: USD 1,500;
  • Processing Fee per dependent under the age of 18 years: USD 500;

Real Estate:

  • The property being invested in must be government approved;
  • The property must be valued at a minimum of USD 350,000 – this is not affected by the number of dependents;
  • The property must be held for at least 3 years after receiving citizenship;
  • Government Fee per application for citizenship of a family with up to 4 members: USD 50,000;
  • Government fee for every additional dependent: USD 25,000
  • Application fee per applicant/ dependent: USD 1,500
  • Due Diligence Fee per applicant/dependent over the age of 18 years: USD 5,000
  • Due Diligence Fee per dependent between the ages of 12 and 17 years: USD 2,000
  • Processing Fee per applicant/dependent over the age of 18 years: USD 1,500
  • Processing Fee per dependent under the age of 18 years: USD 500

Steps for Application:

The steps to be followed for citizenship via investment are:

  • Step 1: Choose an agent- Applications cannot be submitted directly;
  • Step 2: Complete the application form and collect all the supporting documents. A medical examination is mandatory;
  • Step 3: Application is submitted and fees are paid;
  • Step 4: Application is vetted by the government (Due Diligence Process);
  • Step 5: If the application is approved, real estate may be purchased or the minimum contribution to National Transformation Fund must be made;
  • Step 6: Applicants and dependents can receive Grenadian citizenship certificate and passport.


INVESTMENT OPTIONS

THE NATIONAL TRANSFORMATION FUND(NTF)

Applicants opting for the NTF route must contribute at least USD 200,000 to the Fund, which is non-refundable. The fee is for single applicant as well as for applicant with 3 dependents.

NTF DONATION Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
Required Contribution Amount USD 200,000 USD 200,000 USD 200,000 USD 200,000 plus USD 25,000 per additional dependant after the third dependant
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17 USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person USD 1,500 per person aged 18 and over, USD 500 for persons under 18 USD 1,500 per person aged 18 and over, USD 500 for persons under 18
REAL ESTATE (INVESTMENT)

The second option available for applicants seeking to obtain citizenship by investment in Grenada is to invest in a Government approved projects. There are currently 12 government approved projects the applicant could choose from for the purpose of investment in real estate.

Applicants opting for the approved project (real estate) route must invest at least USD 350,000. They must keep the real estate for at least three years following the grant of citizenship. The following chart highlights the costs and fees associated with this route.

REAL STATE OPTION Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
Required Contribution Amount USD 350,000 USD 350,000 USD 350,000 USD 350,000
Government Fee USD 50,000 USD 50,000 USD 50,000 USD 50,000 and USD 25,000 per additional dependant after the third dependant
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17 USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person USD 1,500 per person aged 18 and over, USD 500 for persons under 18 USD 1,500 per person aged 18 and over, USD 500 for persons under 18