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06 September, 2021

How Many Passports Did Grenada Issue By Investment And Which Option Earned The Most In 2021

168 investors were granted Grenada citizenship in the first six months of 2021. The investment program brought in EC$119, or about US$44 million, for the country. 60% of the income came from real estate investments. Here’s why investors choose Grenada and how to get citizenship by investment.

Grenada citizenship by investment: programme statistics for the first half of 2021
Photo: Adobe Stock

Investors have been obtaining Grenada citizenship since 1997. Demand for the program grows every year. 2020 was a record year for the country, with the program department approving 375 investor applications. This is the highest number since the program was launched. It is too early to say what the result will be in 2021, but the Grenada citizenship program has a chance of setting a new record.

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told about the popularity of Grenada’s citizenship

Number of applications for the Grenada citizenship program in the first half of 2021

Grenada Citizenship by Investment: Number of investors who received a passport in the first six months of 2021
Grey in the graph indicates the number of investors who applied for the program, blue indicates the number of approved applications. In 2021, the department approved the highest number of applications in the first six months of the year, compared to the first six months of previous years

How much Grenada earned from the citizenship program in 2021

Grenada received about $44 million in the first six months of 2021: of which $26 million was invested by investors in real estate and $13 million in the state fund, while $5 million came from government fees.

Grenada’s income over the past four years, in millions of US dollars

Grenada citizenship by investment: the country's returns from 2016 to 2021
Investors have invested about $253 million in Grenada’s economy over the past four years

What program participants invested in 2021

Under the Grenada citizenship program, investors have two investment options:

  1. From $150,000 – investing in the country’s National Transformation Fund.
  2. From $220,000 – purchase of real estate approved by the Government of Grenada. The investor may buy a share or the entire property.
Properties are government-approved projects, mainly five-star hotels. Under the property option, investors additionally pay a special government charge of $50,000 or more.

63% of investors opted for the property option between January and June 2021. Moreover, demand for real estate was higher in the first quarter. The slight drop in demand in the second quarter is most likely due to the fact that the program department did not have time to process all applications received.

Investor choice between program options

In blue on the graph is the number of investors who have chosen to buy real estate, in gray is the number of investors who have made a non-refundable contribution to the government fund

Before 2020, investors were more likely to opt for a non-refundable contribution to a government fund. Demand for real estate began to rise at the end of 2020 when Grenada opened its borders to tourism.

The return on investment is the main advantage of buying real estate. The investor has the right to sell the property after 5 years. Caribbean property prices rise by 1.5-3% a year, so the investor is not just getting their money back, but also earning an income.

In 2021, Grenada offers investors a share, an apartment, or a villa in a hotel. The list of projects is constantly updated and published on the official website of the program.

The investor may rent out the property as long as he or she owns it. Income from renting out properties is about 4% per annum. About 500,000 people visited Grenada in 2019. The government expects an even greater influx of tourists when all restrictions on movement around the world are lifted. Accordingly, the demand for tourist properties will increase.

Examples of investment property in Grenada

Grenada Citizenship by Investment: Apartments in University City - properties that can be bought under the scheme

Share in University Campus Apartments, which is located on the Atlantic Ocean in Hartman Bay. The cost is from $220,000. Rental income of up to 4.7% per annum

real estate in the Caribbean: a premium hotel complex in Grenada

A hotel complex in St George in the south of the island of Grenada. The rooms have panoramic views of nature and the Atlantic coast Cost — from $220,000. Rental income — up to 3% per annum

Grenadian citizenship by investment: real estate examples

Share in a spa resort complex in the south of Grenada. The resort is located next to the famous La Sagesse beach. The complex will feature five-star hotels, individual villas, spa, and fitness centers The cost of shares — from $220,000. Rental income — up to 6% per annum

Grenada Citizenship by Investment: Apartments in University City - properties that can be bought under the scheme
real estate in the Caribbean: a premium hotel complex in Grenada
Grenadian citizenship by investment: real estate examples

Why investors choose Grenadian citizenship

Demand for the Grenada citizenship program grows every year, even in spite of the crisis and the pandemic. Experts at Immigrant Invest believe that the success of the program is due to the opportunities provided by the Grenada passport and the stability of the department even in an emergency situation.

The work of the Department of Citizenship Program. The Department has established a process for obtaining citizenship by investment over the 25 years the program has been in operation. At the same time, the Government of Grenada is continually improving the citizenship process.

Since March 2020, investors have been submitting applications through the online portal. The department starts processing applications immediately after receiving scanned copies of the documents. Previously, the department only considered applications after receiving the originals of all the papers.

Grenada passport opportunities. Investors with a Grenada passport travel visa-free to 144 countries, including the Schengen states, the UK, and China. Grenada is the only Caribbean country whose citizens are free to visit China for up to 30 days.

Investors also have the right to obtain an E-2 business visa to live and conduct business in the USA and a tourist visa to the USA for 10 years under a simplified procedure. In comparison, Russians are issued a tourist visa to the USA for a maximum period of 3 years.

Grenada is a member of the British Commonwealth of Nations, therefore citizens have benefits for studying in British universities. Investors with a Grenada passport will be able to stay in the UK for up to 180 days a year.

Immigrant Invest is a licensed agent for the Grenada citizenship program. If you want to buy a property and get a second passport to travel, seek advice from investment program experts.

How Many Passports Did Grenada Issue By Investment And Which Option Earned The Most In 2021

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