Grenada passport by investment: citizenship process from A to Z

1. Fast and remote process. Grenada’s citizenship by investment program is designed for efficiency, typically concluding within 6—9 months. The application and all related processes can be done remotely.

2. No residing requirement. The investment program comes with the added advantage of no mandatory residing requirement. It means applicants don’t need to live in Grenada before, during, or after obtaining citizenship.

3. Benefits for tax residents. Grenada’s legislation helps optimise taxes and generate additional income. Capital gains, wealth, inheritance, and revenue earned outside Grenada are tax-free.

4. Living, doing business, and studying in the USA. Grenada and the USA signed an agreement on mutual trade and navigation. Therefore, citizens of Grenada can apply for a 5-year E‑2 Visa, granting them the right to live, do business, and study in the United States.

To visit the USA for tourism or business, an investor with a Grenadian passport can obtain a B‑1/B‑2 visa for up to 10 years.

5. Visa-free China. Grenada is on the list of 17 countries with which China has signed a visa-waiver agreement. Citizens of Grenada are allowed to stay in China without a visa for up to 30 days a year.

6. Entry to the EU and the Schengen Area without a visa, with the right to stay for 90 days every six months.

7. Visiting the UK. Grenada is a member of the Commonwealth of Nations; therefore, citizens of Grenada can stay in the UK for up to 180 days a year.

Grenada’s passport gives the freedom of movement across 148 countries. It is easier for citizens to travel the world:

• there is no need to apply for a visa in 90 countries;

• and in 26 countries, a visa is issued upon arrival;

• for 32 countries, an electronic travel authorization (eTA) needs to be arranged in advance.

The list of visa-free countries and entry conditions constantly changes, depending on the geopolitical situation. Therefore, it is advisable to check the current entry conditions on the website of the country’s consulate before travelling.

The investor’s family members can obtain Grenada nationality. The conditions for participation in the Grenada CBI program are the following:

1. Investor — over 18, without a criminal record or prosecution, without visa and citizenship refusals, not under sanctions, with legal income.

2. Spouse — in an officially registered marriage with the investor.

3. Children under 30 — financially dependent on the spouses, can be from previous marriages.

4. Parents — financially dependent on the investor.

5. Siblings over 18 — financially supported by the investor, unmarried and without children.

After the investor receives a Grenadian passport, only children born within a year can be added to the program and obtain citizenship. The rest of your family must be included in the application right away.

Grenada’s CBI program offers two investment options, which require:

1. $150,000 to a non-refundable contribution to the National Transformation Fund (NTF). Grenada’s state fund supports hospitals, schools, alternative energy, and the reconstruction of roads, marinas, and ports.

2. $220,000 for buying a share in resort real estate from the list of government-approved projects. If the investor purchases the property in full ownership, the minimum investment amount is $350,000.

Additional expenses include covering the costs of Due Diligence, state duties and fees, and services for registration, translation and legalisation of documents. The total costs depend on the chosen option and the family’s size and composition.

Expenses on investing in the NTF, including fees, are the following:

• a fund contribution — $150,000 for a single investor and $200,000 for a family of up to 4 people. $50,000 must be added for a parent under 55, and $75,000 is for a sibling. $25,000 is added per parent over 55 or child, but only starting with the fifth family member;

• an application fee — $1,500 per person;

• a Due Diligence fee — $5,000 per person over 17;

• an interview fee — $1,000 per person over 17;

• a processing fee — $1,500 per adult and $500 per minor;

• a passport fee — $250 per person;

• an oath fee — $500 per person.

The investor can buy real estate from a list the country’s government has approved, mainly for tourist projects. Real estate in Grenada is famous for holidays all year round. Seasonal changes in rental prices fluctuate less than 1.5 times.

Real estate can be rented out during ownership and receive 3—5% per annum. The average cost of renting apartments and villas in hotel complexes approved for the citizenship program is $6,000—10,000 per month. A management company maintains the property. The hotel invites the investor and their family to stay in luxury apartments for free for up to 14 days a year.

Five years later, the property can be sold. The investor does not need to fly to the country to sell real estate. The property sale tax is 5%, and the citizenship cost equals the registration price.

The expenses for investing in real estate in Grenada, including fees, are the following:

• the property price — $220,000 if buying a share and $350,000 if purchasing a property in full ownership;

• a state fee — $50,000 for a family of up to 4 people. Starting with the fifth family member, the fee increases by $25,000 per child or parent over 55, $50,000 per parent under 55, and $75,000 per sibling;

• an application fee — $1,500 per person;

• a Due Diligence fee — $5,000 per person over 17;

• an interview fee — $1,000 per person over 17;

• a processing fee — $1,500 per adult and $500 per minor;

• a passport fee — $250 per person;

• an oath fee — $500 per person.

Examples of properties in Grenada

Grenada, Saint Davids

$270,000+

Share in a modern SPA complex resort

Grenada, St. George's

$270,000 — $350,000

Share or apartments in full ownership in an oceanfront university complex

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1

Grenada, Saint Davids

$270,000+

Share in a new resort complex managed by the Intercontinental group

Suppose a family of four wants to obtain Grenada passports by investment. Here are the approximate expenses they will bear if they contribute to the state fund and purchase real estate. The calculation assumes that the citizenship application includes the investor, their spouse, and two children aged 7 and 25.

Note that additional bank commissions and legal service fees arise when investing.

Grenada citizenship requirements regarding documents are the following:

• copies of the birth certificates of each applicant;

• passport-sized photos of each applicant taken within 6 months;

• certified colour copies of all the pages in the current passports of all applicants;

• certified colour copies of all valid ID cards;

• proof of address for the main applicant;

• a marriage or divorce certificate for the main applicant and the spouse, if applicable;

• a police certificate for all applicants over 16;

• university or college diplomas where applicable;

• a character reference letter for the main applicant;

• a bank reference for the main applicant;

• proof of source of funds for the main applicant;

• HIV test results for all applicants over 12;

• an affidavit in support of dependents by the main applicant;

• a resume or CV from the main applicant and the spouse.

All the documents must be translated into English and certified by an official translator if the originals are in another language.

Only licensed agents can submit the citizenship application on the investor’s behalf. Besides, the licensed agent helps investors collect all the required documents, translate them into English and certify them, and fill in the forms provided by the state.

Immigrant Invest is a licensed agent of the Grenada citizenship by investment program.

No personal presence or exams. In 2018, Grenada updated the CBI program. To meet modern legal requirements and become a citizen of Grenada, one does not need to be in the country, know the language, or take exams to apply for citizenship.

How the Grenada passport can make your travels simpler and eliminate the need for visas

Grenada allows dual citizenship, meaning individuals can hold citizenship in Grenada along with passports from another country. It benefits those who wish to obtain second citizenship by the investment while retaining their current citizenship.

There are several important points to consider when obtaining dual citizenship in Grenada:

1. Grenada recognises and allows its citizens to hold citizenship from other countries. However, it’s essential to check the laws and regulations of your current country of citizenship to ensure they permit dual citizenship.

2. Dual citizens of Grenada have the same rights and responsibilities as other Grenadians. This includes the right to live, work, and study in Grenada and the obligation to abide by the country’s laws and pay taxes, if applicable.

3. Having Grenadian citizenship can provide visa-free or visa-on-arrival access to many countries worldwide. However, it’s essential to consider any travel restrictions or visa requirements that may apply to citizens of your other country of citizenship.

Obtaining conditions. A mutual agreement on trade and navigation has been signed between Grenada and the USA. Therefore, Grenadian citizens can apply for an E‑2 visa, which is impossible with other Caribbean countries' passports. Citizens of many countries cannot obtain an E‑2 visa because the states have no agreement.

An E‑2 visa can be obtained by foreign citizens who want to invest in a business in the USA. The exact investment amount is not specified in the law; in practice, $200,000—250,000 is enough.

Another mandatory requirement is spending at least 3 years in Grenada before applying for the US E‑2 Visa. The same condition is valid for all treaty countries.

To apply for an E‑2 visa, an investor only needs to provide a business plan. It must have at least five jobs planned. The investor must have the amount no less than necessary for the family to live from the bank account.

Documents for a visa can be submitted at a US consulate in any country where citizens of Grenada are allowed to enter. A visa can be obtained within 1—2 months and 15 days under an accelerated procedure.

Advantages of the E‑2 visa. The visa entitles the investor and their family to live, do business, study, and work in the United States.

The visa validity is up to five years. The investor can renew a visa many times if it is documented that their business generates income.

Cons of the E‑2 visa. The E‑2 visa does not allow the holder to get a Green Card. If the investor can confirm the business’s profitability, they can switch to an EB‑5 visa, which is an immigration type.

Grenada has developed a favourable tax system for doing business. The country does not levy taxes on gifts, inheritance, or capital gains. Tax legislation does not restrict the withdrawal of profits or the attraction of private capital.

Tax rates in Grenada are the following:

• on dividends — 15%;

• on real estate — 0,5%;

• on the transfer of ownership — 5 to 15%;

• on the income of companies in the country — 10 to 30%.

You can register an international business company (IBC) and a limited liability company (LLC) in Grenada.

1. The Grenada Citizenship by Investment Program stands out as one of the most popular and cost-effective pathways to obtaining Caribbean citizenship.

2. Individuals and their families can secure Grenadian citizenship, unlocking a multitude of benefits with straightforward investment options, including contributions to the National Transformation Fund or investment in approved real estate projects.

3. Investors gain the ability to include their entire family in the application, granting them the opportunity for global mobility with visa-free travel to over 148 countries. Grenada’s recognition of dual citizenship further enhances the appeal, allowing individuals to simultaneously maintain citizenship in multiple countries.

4. The advantages of Grenada citizenship extend beyond travel, encompassing opportunities for living, working, and studying in countries like the US and the UK. Additionally, Grenada offers favourable tax policies, making it an attractive destination for business and investment.

5. The streamlined application process, typically completed within 6 to 9 months, coupled with the remote application option, makes obtaining Grenadian citizenship accessible and efficient.