Grenada is considering a bill that proposes requiring investors and their family members to confirm a connection with the country. To do this, they will need to live on the island and take part in an integration programme.
Lyle Julien, an investment migration expert at Immigrant Invest, explains what may change for Grenada passport holders.
Investors will need to spend 30 days in Grenada
The Parliament of Grenada has introduced amendments to the Grenada Citizenship by Investment Act No. 15 of 2013. The bill brings the programme in line with the requirements of the Eastern Caribbean regulator ECCIRA and introduces additional conditions for applicants[1]Source: Parliament of Grenada.
Total minimum stay. The main applicant and each family member in the application will need to meet the residence requirements in Grenada: at least 30 days within the first 5 calendar years after receiving a citizenship certificate.
Individual minimum. The investor and each family member must spend at least 5 days in Grenada within the first 12 months after obtaining citizenship.
How the stay will be counted. The days are planned to be added together if family members visit Grenada at different times. If several relatives stay in the country at the same time, one day, not several, will count towards the total stay period.
Exemption from the stay requirement may be possible if the investor confirms:
- Substantial economic, social, or family ties with Grenada.
- Circumstances in which travel is impossible due to illness, age, or a security threat.
Lyle Julien,
Investment programmes expert
In addition to physical presence, the bill introduces a requirement to take part in an integration programme. It may include learning the basics of Grenada’s civic structure, laws, history, constitution, and culture, as well as taking part in public projects in the country.
New passports are proposed to be issued for 5 years
The validity period of the first passport may change. The document is planned to be issued for 5 years instead of 10. Upon renewal, the passport validity period will still be 10 years.
At the same time, the investor will need to submit a declaration of presence in Grenada. The data will be checked against immigration records or information from other competent authorities.
If the investor fails to meet the requirements without a valid reason, this may become grounds for starting citizenship revocation proceedings.
When the amendments will take effect
The bill provides that the law will take effect on the day the ministerial order is published in the Government Gazette[2]Source: Parliament of Grenada.
For new applicants, the residence and genuine connection requirements will apply after the law takes effect.
For those who have already submitted an application but have not yet obtained citizenship, the new rules may be applied by decision of the minister.
The bill allows the requirements to be applied retroactively to applications under consideration if this is provided for in the transition rules. It is not yet known whether Grenada will set a transition period.
For investors who have already obtained citizenship. The bill does not provide for automatic application of the new 30-day stay requirement.
How to obtain Grenada citizenship by investment
Investors can make a contribution to the National Transformation Fund or purchase government-approved real estate projects. The minimum investment is $235,000.
The contribution to the fund is non-refundable, while real estate can be sold after 5 years to return the investment.
Before applying for Grenada citizenship, it is important to check compliance with the programme requirements, prepare documents on the origin of capital, and assess the full cost structure.
A preliminary check helps identify potential risks before documents are submitted to IMA Grenada. Immigrant Invest lawyers check investors before signing a cooperation agreement. This helps reduce the risk of refusal for second citizenship to 1%.
