Grenada become the most popular caribbean citizenship by investment program among international investors. Infact, We ranked Grenada as the Best CBI program for the year 2020.
Grenada may be also one of the expensive CBI programs in the Caribbean because of the passport benefits on the $150k price tag. Grenada is one of the few nations in the world having with visa waiver with China, Russia, UK and Schengen countries and its passport is one of the best desirable for those who seek to apply for E-2 visa to pursue american dream.
There is a slight difference with pricing compared to other CBI programs. For Grenada there is a rule – the government requires applicant to apply through marketing agent first, who has working agreement with local agent with a license to file the application directly with CBI unit. Both their fee had to be paid and it varies how many family members apply. Marketing agents cannot submit files to CBI committee directly, can only done by local agent.
To sum up..
- Marketing agent will help you prepare the file and collection of documents
- Local agent will file your application with CBI unit.
We will give a good accurate idea on how much it costs for citizenship by investment. To start the process you only have to pay application fee, due diligence fee and part of marketing agents fee. The rest is paid only approval issued by Grenada CBI unit.
We provide full disclosure of exact fee and costs. We maintain the highest standards of transparency.
Fee Structure
A typical Grenada CBI application comprises the following fee structure:
- Professional fees inclusive of marketing and local agent fees
- Deposit (if the applicant selects the real estate option)
- Investment (either NTF which starts at $150K, or Real estate which starts at $220K)
- Application fee ($1,500 per person)
- Processing fee ($1,500 per person 17 years or older, and $500 for persons younger than 17)
- Due diligence fee ($5,000 per person, 17 years or older)
- Government fee (is payable on real estate investments and is $50,000 for up to a family of four and $25,000 per each additional dependent, who is not a sibling, or a parent/grandparent 55 years or younger)
- Oath of Allegiance fee ($20)
- Passport fee ($250 each)
- Bank charges.
Let us do some calculations based on a simple scenarios.
Donation (Single Applicant)
Donation Investment = $150,000
Due diligence = $5000
Application fee = $1500
Processing fee = $1500
Oath = $25
Passport fee = $250
Marketing agent fee = $7,500 (approx)
Local agent fee = $5,000(approx)
Total: US$170,775 (non-refundable)
Donation (Family of 4)
A family of four application with two children below 16 years.
Donation Investment = $200,000
Due diligence = $10,000
Application fee = $1500
Processing fee = $4000
Oath = $50
Passport fee = $1000
Marketing agent fee = $7,500 (approx)
Local agent fee = $5,000(approx)
Total: US$229,000 (non-refundable)
Bank charges, courier charges may be additional. For families, the costs jump depending on how many children you add to the application.
Please also use our CBI online calculator to compare prices of all schemes in one place.
Real Estate (Grenada)
Assuming a family of four with two children below 16 apply for Grenada CBI through real estate route in a five star hotel resort.
Hotel Share cost = $220,000
Govt processing fee = $50,000
Due diligence = $5000 x 2 = $10,000
Application fee = $1500×4 = $6000
Share registration fee = $8,800
Passport fee = $1000×4 = $4000
Agency fee = $10,000
Total = US$309,800
As you can see, the $220,000 is recoverable when you sell off the share after 5 years, keeping your Grenadian citizenship for life.
Eligibility check
To qualify for Grenada CBI, you must meet these basic conditions.
- Must be at least eighteen years old, have no criminal record, be in good health, and be willing to make the required contribution.
- You should not have any visa denial from countries with visa waiver agreements.
- Not from restricted countries (Eg, Iran)
- Previous application not refused by another CBI program.
The whole process from application to passport may take about 3-4 months. There is no personal visit required to come to Grenada.
Family members
The following family members can be attached to single citizenship application
- Spouse of the main applicant.
- Biological or adopted children of the main applicant or spouse under the age of 30
- Biological or adopted children of the main applicant or spouse of any age, who arephysically, or mentally disabled.
- Parents or grandparents of the main applicant or spouse of any age.
- Biological or adopted siblings of the main applicant or spouse, who are 18 years or old-er, without child and unmarried (single).
Evaluation process
Each application is vetted by the Government through a thorough due diligence background check, during which time submitted information is examined and verified. The CBIC considers application files in light of this due diligence check, and then issues a recommendation about the application. Final approval is in the hands of the Minister, who generally follows the CBIC’s recommendation. Upon the Minister making a decision, the applicant is issued a letter (through his or her Authorised Local Agent) detailing whether the application was successful, delayed for further processing, or rejected.
All payments for citizenship must go through the locally designated escrow bank, which acts as a gatekeeper to the CIP. The bank makes specific requests for certain documents from a client’s application to be submitted to its office to facilitate its due diligence requirements. If a client passes the due diligence checks of the bank, the client will be able to transfer the payments required for citizenship.
Documents required
Documents for applicants and dependants on the application. Be sure to prepare these documents well in advance.
- Application forms – can be downloaded here
- Certified coloured copy of all pages of the current passport
- Certified coloured copy of national ID card or other government issued ID
- Police report
- Birth Certificate
- Marriage/ Divorce certificates
- Education Certificates (for all applicants — highest education obtained)
- Due diligence authorization form
- Financials (bank statements and documents in proof of source of funds)
- Proof of address
Documents required for a spouses not included on an application
- Certified coloured copy of all pages of the current passport
- Certified coloured copy of national ID card or other government issued ID 5. Police report
- Birth Certificate
- Education Certificates (for all applicants — highest education obtained)
- Due diligence authorisation form
- Financials (if spouse is the sponsor)
Note: Best Citizenships is a free online platform. Our services are free of charge. We do not charge any fee to clients. We make it cheaper for investors without brokers or middlemen directly working with government appointed agents and law firms.
