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Quick Answer

Invest in a state fund or real estate? Choosing the investment option to get Grenada citizenship

Grenada offers investors to get the second citizenship by investment in two ways. The first one is a contribution to a state one, and the second involves a real estate purchase.

The minimum investment sums and fees differ under the two options. Let’s compare the expenses for the investor.

Grenada citizenship by real estate purchase or a contribution to the state fund

Investors choose one of the two available options to get Grenada citizenship: a contribution or a property purchase. The minimum contribution is $150,000. For purchase under the CBI program, real estate must cost at least $220,000.

Investors can include family members in their citizenship applications. A spouse, children under 30, parents, grandparents and siblings are eligible to participate.

The time frame for obtaining the Grenada passport is 4 to 6 months. The documents are ready within 4 weeks after the applicant invests. Immigrant Invest sends the passport and a naturalisation certificate to a convenient address by courier.

If the investor didn’t add family members to the original application, they wouldn’t be able to add the relatives later. Newborn children are the only exception as they can obtain Grenada citizenship within a year after the investor has got the passport.

Investors’ children inherit Grenada citizenship. They get citizenship by descent.

Evgeniya Morozova, Head of the Legal Department in Immigrant Invest
Evgeniya Morozova
The Head of the Legal Department, lawyer, Candidate of Juridical Sciences, Judicial Counsellor of the 3rd Class

The investor pays additional fees so that the family members could participate in the CBI program. The final cost depends on the number of applicants and their age. 

Immigrant Invest lawyers calculate the costs for obtaining citizenship by investment for each family individually. The calculation includes an investment sum, additional fees, a payment schedule and a cost of legal assistance.

Non-refundable contribution to a state fund

The main advantage of the contribution is that it requires fewer investments. It is the least costly option. If the investor applies for citizenship alone, the expenses will amount to $158,270. However, there is a disadvantage to the option as the investor can’t return the money as if when choosing the real estate purchase. 

If the investor adds relatives to the application, the expenses increase; the more applicants, the higher the costs. 

Minimum expenses for obtaining citizenship

ExpensesAmount
Contribution amount$150,000 for the investor
+ $50,000 per spouse or family of four
+ $25,000 per additional applicant, except for parents under 55 and siblings
+ $50,000 per parent under 55
+ $75,000 per sibling
Due Diligence$5,000 for the investor
+ $5,000 per additional applicant over 16
Application fee$1,500 per applicant
Processing fee$1,500 per applicant over 18
or $500 per applicant under 18
Passport fee$250 per applicant
Oath of allegiance fee$20 per applicant
Total$158,270+

The National Transformation Fund gets the money and spends it on developing tourism, the economy and infrastructure. For example, investments have already been spent on renovating an airport, roads, schools and other educational institutions. The fund also supports agricultural and alternative energy projects.

Investments in real estate

$220,000+ must be invested in a government-approved real estate project. The list usually includes hotel complexes.

The investor can buy the entire property or take part in constructing hotels, villas or urban infrastructure as a shareholder. The investors purchase shares in a physical object, securities or a trust. 

Unlike with the contribution, investments in real estate don’t depend on the family composition. However, the investor pays an additional government fee for the property purchase.

The main advantage of the option is that the investments are refundable. The investor can sell the share or property 5 years after obtaining citizenship.

Minimum expenses for obtaining citizenship

ExpensesAmount
Real estate purchase$220,000+
Government fee$50,000 for a single investor or a family of four
+ $25,000 per parent over 55 or child, starting with the fifth family member
+ $50,000 per parent under 55
+ $75,000 per sibling
Due Diligence$5,000 for the investor
+ $5,000 per additional applicant over 16
Application fee$1,500 per applicant
Processing fee$1,500 per applicant over 18
or $500 per applicant under 18
Passport fee$250 per applicant
Oath of allegiance fee$20 per applicant
Total$278,270+ 

Examples of investment properties in Grenada

Grenada offers government-approved real estate projects, which usually are hotels and resorts. Immigrant Invest real estate experts analysed the developers’ offers and selected the best properties for investors.

Grenada citizenship by investment in real estate

Shares in a SPA resort in Grenada cost $220,000. The rental yield is up to 6% per annum

What to choose — a contribution or a real estate purchase?

If you want to participate in the CBI program as a single applicant, you should expect the minimum expenses of:

  • $158,270 when contributing to the Grenadian state fund;
  • $278,270 when purchasing real estate. In this case, the investments could be returned in 5 years by selling the property.

The number of applicants and their age affect the final cost of Grenada citizenship for a family. Here are the minimum expenses for obtaining a second passport for a family of four. The calculation is made for the two options and includes the investment amount and additional fees.

$70,000 more is the citizenship cost when purchasing real estate if the investor participates in the CBI program with a spouse and two children. The sum will increase even more if the family adds other relatives, for example, parents or siblings.

Expenses for a family of four with two children aged 12 and 17

ExpensesContribution to the fundReal estate purchase
Investments$200,000 $220,000+
Government fee$50,000 
Due Diligence$15,000 $15,000 
Other fees$11,080 $11,080 
Total$226,080 $296,080+

Benefits the investor gets with Grenada citizenship

The whole family gets second passports. Family members can participate in the Grenada citizenship program if they are:

  • spouses;
  • children under 30;
  • spouses’ parents and grandparents;
  • spouses’ brothers and sisters.

Grenada citizens travel to 146 countries without visas. The list of visa-free destinations includes the Schengen states, the UK, China, Singapore and Hong Kong.

A B-1/B-2 tourist visa to the USA is granted for 10 years. The number of entries is unlimited during the visa validity period. The maximum stay is 180 days per year.

Grenada citizenship by investment: visa-free China with a Grenada second passport
Shichahai is a historic area and a park in Beijing, China. Grenada is one of the two Caribbean countries that have a visa-waiver agreement with China, allowing Grenada citizens to stay in the country for up to 30 days without a visa

Grenada citizens are eligible for the E-2 business visa to the USA. The visa is only available to citizens of countries with treaties of Friendship, Commerce and Navigation with the USA. Grenada has a valid treaty with the States.

E-2 visas are issued to foreigners who invest in a US business. The Immigrant Invest lawyers advise by experience that $200,000 might be enough for the US Citizenship and Immigration Services to approve the investor’s application.

The E-2 visa is a non-immigrant one, but it allows the holder to move to the States to run a business. The investor can stay in the country as long as the company is profitable.

Tax optimisation is possible because there are no taxes on individuals’ global income, inheritance, or capital gains. Different taxation rules apply to companies, but they are still more beneficial in Grenada than in many other countries.

Children can study at universities in the UK. Grenada is a member of the Commonwealth of Nations. Grenadian citizens can study at the best British universities on beneficial terms, such as getting a scholarship from the Commonwealth Scholarship Commission.

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Invest in a state fund or real estate? Choosing the investment option to get Grenada citizenship