Investors have been granted Grenada citizenship since 2013. Demand for the program has been growing steadily. It can be tracked by statistics that are published every quarter by the Ministry for Finance, Economic Development, Physical Development and Energy.
In total 402 applications were approved by the Grenada Citizenship Program Department. Together with investors, their family members who also received passports. Grenada granted a total of 1,272 citizenships under the program during the year.
How much and in what program have the participants invested
281.6 million EC or 104.2 million USD was earned by Grenada from the citizenship program in 2021. This is 10% more than in 2020 and 40% more than in 2019.
Grenada offers to its investors two investment options of their choice:
|Non-refundable fee||Purchase of real estate|
|From 150,000 $||From 220,000 $|
The majority of investors – 60% – have chosen the option of buying property in 2021. Real estate projects that can be purchased under the citizenship program are approved by the government of Grenada. Mostly these are five-star hotels.
Return on investment ― is the main advantage of buying real estate. The investor has the right to sell the object after 5 years of ownership. Real estate prices in the Caribbean are growing at 2-3% per year. The investor will be able to return the investment and earn on the difference in price.
The investor also receives passive income: real estate under the citizenship program is leased immediately after the facility is put into operation. The management company oversees the process. The investor's share is specified in the agreement with the management company. Rental yield is usually 3-5% per annum.
In April 2022, Grenada invites investors to purchase a share, apartment or villa in 16 real estate projects.
Examples of investment properties in Grenada
What do investors get with a Grenada passport
Second citizenship for the whole family. Together with investors, members of his family can participate in the program:
- children under the age of 30;
- parents of the investor and his/her spouse;
- brothers and sisters of the investor and his wife.
Visa-free travel to 144 countries. The Grenada passport allows you to freely visit the EU countries, the UK, Hong Kong, Singapore and China.
Grenadians also have the opportunity to obtain a long-term tourist visa to the United States for 10 years. The visa process takes about two weeks. Citizens of other countries, such as Kazakhstan, sometimes need to wait in line for up to six months.
Business visa in the United States. Investors with a Grenada passport are eligible for an American E-2 visa. This opportunity is only available to countries that have signed a trade agreement with the United States. The E-2 visa is a non-immigrant one, however it allows you to move to the States to run a business. As long as the company makes a profit, the investor has the right to stay in the country.
Tax optimization. Grenada has no taxes on global income, inheritance, capital gains or wages. For companies, the conditions are different, but they are softer than in many other countries.
Opportunity for children to study in the UK universities. Grenada is part of the British Commonwealth of Nations. Citizens of Grenada can receive education on preferential terms at the best British universities, for example, under scholarships from the Commonwealth Scholarship Commission, or CSC.
Immigrant Invest ― a licensed agent of the Grenada Citizenship Program. If you want to obtain a second citizenship in Grenada and buy property in the country, please consult with our investment program experts.