Grenada citizenship by investment

History of Grenada citizenship by investment program

As we know it now, Grenada passport scheme was launched in 2013, one of the last in the Caribbean. To apply for a second passport of this island state, you will need more money than in other similar jurisdictions. However, neither its young age nor a relatively high investment threshold could scare foreign investors away from applying for this citizenship program. For many years, Grenada has been one of the leaders in attracting foreign investments into national economy.

Grenada citizenship by investment program is popular for a lot of reasons. Let’s look at some of them.

Grenada passport is your visa–free ticket to Europe, China, Hong Kong and Singapore and your chance to apply for a US E-2 visa that is unavailable to many nationals. It is also a good tax optimisation tool.

Advantages of Grenada citizenship by investment program

1. Second passport in no time

An application for citizenship in exchange for investment takes 3 to 4 months to process. How fast will depend on the number of supporting documents and how well your application has been completed.

2. No language requirement

You will not have to learn the language to apply for a Caribbean passport. Neither will you need to test your knowledge of local customs and traditions.

3. More affordable than European citizenship by investment programs

To obtain Grenada passport, there is no need to put on hold over a million Euro for 5 years – you will invest only $150,000.

4. Second nationality for the whole family

You can include in your Grenada citizenship application the following family members:

• Husband or wife.
• Minor children under 18 and financially dependent children up to 30 years of age, including from previous marriage(s).
• Financially dependent parents and grandparents of both partners who are older than 65.
• Mentally and physically disabled children who rely on the main applicant for support.
• Unmarried siblings of either partner.

5. No visit or residence requirement

Grenada passport scheme operates on a 100% remote basis. An authorised agent will help you get your second passport from the comfort of your home.

6. Grenada allows multiple nationalities

You can have as many passports as you want – local authorities will not ask you to revoke your other nationalities.

7. Ultimate safety and security

A unique selling point of Grenada citizenship by investment program is safety and security that it offers. The government does their best to make the scheme as attractive as possible:

• You are offered two clear-cut and government-regulated investment options.
• All communication with the Grenada Citizenship by Investment Committee goes through an authorised agent who is a reliable legal firm.
• You are guaranteed full confidentiality to ensure no information about your application leaves the island.

An agent would normally conduct their own due diligence before signing an agreement with you which further minimises the risk of refusal.

Requirements for foreign investors

It would be wrong to say that anyone with a generous contribution can get a Caribbean passport. At the same time, requirements of the Grenada government are not stringent either.

1. An investor must be at least 18 years old.
2. The main applicant and dependants over 16 must have an impeccable reputation for due diligence purposes. There must be no criminal or immigration offences on your record.
3. All applicants must be in good health.
4. You must demonstrate available, legally sourced funds that are enough to make a required investment, pay all fees and maintain your family after getting citizenship.

Investment options under Grenada citizenship by investment program

Grenada passport scheme offers two investment options – purchase of real estate on one of the islands and a non-refundable donation to a government fund. Either way, there is no risk for an investor – you will part with your money only after due diligence checks and approval in principle.

How much you will spend depends on an investment option and the number of dependants in your application as your expenses will include application, due diligence and other fees.

To see the difference, we will give you four scenarios: a single investor; a married couple; a family with two kids under 16; a family of 6 including two children younger than 16 and two adult dependants (e.g. parents).

Non-refundable donation to the National Transformation Fund

Investment starts at $150,000

A fund contribution does not only get you a Grenada passport at a reasonable cost, but it also strengthens local economy. The government allocates money from the National Transformation Fund (NTF) to develop tourism, agriculture and alternative energies.

Fund contribution	$150,000	$200,000	$200,000	$250,000*
Application fee	$1,500	$3,000	$6,000	$9,000
Due diligence fee	$5,000	$10,000	$10,000	$20,000
Processing fee	$1,500	$3,000	$4,000**	$7,000**
Total:	$158,000	$216,000	$220,000	$286,000

*   Add $25,000 for each adult dependant starting from the third one.
** Processing fee is $1,500 for an adult applicant and $500 for each child under 18.

Purchase of real estate in Grenada

Investment of at least $220,000

Property investment is another way of getting Grenada citizenship. This one is more costly as the threshold is:

• $220,000, if you invest in a share along with other investors;
• $350,000, if you invest alone.

However, this investment, unlike a fund donation, is refundable – you will be able to sell the property in 3 years and get your money back, the same amount or even more.

Property value	$220,000	$220,000	$220,000	$220,000
Government fee	$50,000	$50,000	$50,000	$100,000*
Application fee	$1,500	$3,000	$6,000	$9,000
Due diligence fee	$5,000	$10,000	$10,000	$20,000
Processing fee	$1,500	$3,000	$4,000**	$7,000**
Total:	$278,000	$286,000	$290,000	$356,000

*   Add $25,000 for each adult dependant starting from the third one.
** Processing fee is $1,500 for an adult applicant and $500 for each child under 18.

If you are thinking where to invest – you have a choice of government approved projects from trusted developers: hotels, villas and holiday resorts. Tourism is booming in Grenada thanks to its location in the hurricane-safer zone. Property prices are on the rise and the minimum investment amount can buy you a share in an off-plan hotel or holiday and spa resort.

Grenada citizenship program has no visitation requirement unless you want to visit the country yourself. All paperwork is will be processed remotely and your passports will be couriered to your home address.

Why invest in Grenada passport?

Worldwide mobility

As of early 2021, Grenada nationals can travel to 144 countries without a visa or with a visa on arrival.

Visa-free countries include the European Union member states, the UK and China. The USA offers a special long-term work visa to Grenadians that is not available to all nationalities.

Benefits for business

Grenada is one of the most business-friendly tax havens to register international companies. Foreign profits are not taxed while capital can be exported.

Entrepreneurs should keep in mind other benefits of doing business in Grenada – skilled and hardworking workforce, modern infrastructure and growing tourism sector, tax incentives for local companies and duty-free trade in the Caribbean.

Flexible taxation

If you decide to settle in this island country and become tax resident, there are many tax benefits to take advantage of. There is no tax on imported capital or capital gains tax, inheritance, wealth and foreign income. Real estate transactions are free of stamp duty.

High standards of education

Even after its independence Grenada has not broken connections with the United Kingdom. Queen Elizabeth II is still the head of this Commonwealth country and Grenadian children can enrol in the UK colleges and universities on special conditions.

Economic and political stability

Unlike some of its neighbours, Grenada is an island of calm with peaceful and hardworking people, quiet and manicured towns and cities and safe streets packed with tourists.

Grenada has modern schools, universities and medical facilities. This country can become your second home and Plan B whenever you have problems in your home country.

All citizenship rights

Grenada citizenship by investment is no different from a citizenship by birth – you will have the same rights and freedoms. It can be passed down to future generations and you will have access to all the opportunities and benefits that local residents have.

Unique natural beauty and climate

Annual average temperature in Grenada is 26º Celsius. You will be amazed by the beauty of nature reserves, sand and volcanic beaches, wildlife and a variety of outdoor activities: fishing, scuba diving and sailing.

Grenada citizenship by investment with Imperial & Legal

It usually takes 3 to 4 months for a citizenship by investment application to be processed and for you to get a Grenada passport. The better your application has been prepared, the faster you will become national of this Caribbean country, without additional requests and delays related to clarifying provided information.

Imperial & Legal experts will assist you with preparing all necessary documents and submitting correct application paperwork for a Caribbean passport. Our legal support will help you protect your money and become Grenada citizen without leaving your home.