GRENADA CITIZENSHIP BY INVESTMENT PROGRAMME
Grenada is a beautiful country of lush, tropical forests, stunning waterfalls and gorgeous sandy beaches. While it has much to offer residents, the Grenadian Citizenship by Investment Programme doesn’t require you to live in or visit the country to apply.
The Citizenship Programme requires a USD 235,000 donation or a USD 270,000 property purchase. Applications are processed in under six months. Siblings of the main applicant or of his/her spouse, who are not married and do not have children, may be included as a dependent of the main applicant. Children up to the age of 30 may be included in the application without the need to be enrolled in full time education. Parents over 55 may also be covered in the application and they are not required to be financially dependent on the main applicant.
Children up to the age of 30 may be included in the application without the need to be enrolled in full time education. Parents over 55 may also be covered in the application and they are not required to be financially dependent on the main applicant.
Grenada is a member of CARICOM and the Organisation of Eastern Caribbean States, as well as being a member of the Commonwealth. Citizens of Grenada don’t pay foreign income, wealth or inheritance taxes on their worldwide wealth, and also enjoy visa free travel to approximately 155 countries including China – the only Caribbean country with such access. Grenada is also a treaty country with the US that allows citizens to be eligible to apply for the non-immigrant E2 visa. This is on the basis they will be investing a substantial amount of capital in a U.S. business.
Grenada is also a treaty country with the US that allows citizens to be eligible to apply for the non-immigrant E2 visa. This is on the basis they will be investing a substantial amount of capital in a U.S. business.
Requirements/Investment Options
The Grenada Citizenship by Investment Programme requires you to make a significant financial investment in the country in return for citizenship for you and your family. To qualify for citizenship, you must be over 18 years of age and meet the due diligence requirements. You may select from one of the following two investment options:
- Make a USD 230,000 non-refundable donation to Grenada’s National Transformation Fund (NTF).
- Maintain ownership of a property from an government approved real estate project worth USD 270,000 or over for at least five years.
You must pay due diligence fees of USD5,000 as the main applicant and USD5,000 for your dependants aged 17 and older. Government application fees are USD1,500 per person while processing fees are USD1,500 for your dependants aged 18 and older. The processing fees for all dependants under 18 are USD500.
You and your dependants must have clean personal backgrounds and excellent health records. Either you or your dependants will see an application revoked if you have been denied a visa to a country that has a visa-free travel arrangement with Grenada.
This will be the case if you or a family member is identified as a potential national security risk or a reputational risk. Likewise, applications will be turned down if you or a dependant is subject to a criminal investigation.
Qualifying Dependants
As the main applicant, you must be solvent. You can add your spouse as a dependant. Like you, they must be over 18 years of age, have a clean bill of health, and have not been prosecuted for any crimes carrying a custodial sentence of more than six months. You can also include children up to 30 years of age who live in the family home. You can also include dependant parents over the age of 55 and siblings who are both childless and unmarried.
Process Overview
The main applicant, spouse, sponsor, and any dependants aged 17 years or over will need to attend a mandatory interview. This can be arranged in person or scheduled online. There is a USD 1,000 fee for the applicant, spouse, and each dependant, including financial sponsors. The government will approve citizenship within six to eight months of an application submission, assuming there are no areas of concern.
DUAL CITIZENSHIP
Grenada has no restrictions on dual citizenship.
Taxation
The annual individual tax rate is calculated with the first XCD 36,000 per annum tax free, the next XCD 24,000 is taxed at 10%, and any additional income is taxed at 30%.
Corporate tax rates are set at 30% and VAT is 15%. Grenada imposes a property tax on all properties, which varies depending on the classification of the real estate unit.
Summary of Key Advantages
- Visa-free travel to approximately 155 countries, including the EU, the UK, and China.
- Potential access to USA through the E2 Investor Visa treaty, giving citizens who have lived on the island for three years the right to apply for a non-immigrant visa.
- You can include spouse, children up to the age of 30, childless and unmarried siblings, parents, and grandparents as dependants.
- Offer Citizenship by Descent to successful applicants.
Application Process
Month 1
Initial due diligence.
Following the successful screening, we will provide you with a Client Agreement (CA) to review and sign.
Upon receiving the signed agreement and retainer payment, our legal team will complete all necessary government forms and supporting documents. If you make a property investment, you will need to execute a sales and purchase agreement with the developer. We will liaise with the property developer and the Grenada Citizenship by Investment Committee (CBIC) on your behalf.
Months 2-4
Before submitting your documents, we comprehensively review your application to ensure your file complies with the CBIC’s requirements. Our legal team will complete its final checks before submitting the relevant forms.
The CBIC will undertake its own due diligence and reviews all the paperwork. You and any dependants over the age of 17 will need to attend a mandatory interview. We will continue to work closely with them throughout the process to ensure your application is timely and efficiently processed.
Months 6-12
The CBIC will assess your application, and upon approval, you must make all necessary contributions and pay any applicable government fees. We will then arrange for all relevant passports to be sent out.