Grenada Citizenship by Investment

Grenada is a caribbean island nation comprising of six islands known as “Isle of Spice”. The island was originally known as Camerhougue, but Christopher Columbus renamed it “Concepción Island” when he visited it in 1498. Grenada has idyllic white or golden sand, palm trees, idyllic beaches, jagged mountains, spice plantations with authentic caribbean destination. Grenada consists of three key islands: Grenada, Carriacou and Petite Martinique each has rich history, culture and culinary delights. Grenada was a French and British colony, but gained independence from the United Kingdom on February 7, 1974. There are no wealth, inheritance or income taxes in Grenada.

Grenada’s economy is constantly expanding in the tourism, agriculture, and manufacturing sectors. The country has launched new citizenship by investment program in 2015 immediately granting citizenship to foreign investors.

Grenada citizenship scheme is rated as the gold standard in the CBI industry.

Citizenship benefits

• Unspoiled exotic scenery ideal for holidays
• No visa travel to over 120 countries including UK, EU Schengen states, China
• Fast processing within 2 months
• Lifetime citizenship for family and children
• Access to E2 visa treaty with the US
• Confidential application process with no exchange of information with other Governments
• Direct flights to London, Germany, New York, Miami
• Fastest approval time within 60 days

Citizenship by investment

Grenada’s Citizenship by Investment Programme allows individuals and their families to obtain citizenship or permanent residence. The Citizenship by Investment Programme (CIP) came into being in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ The stated objective of the Act is to “enable persons to acquire permanent residence and citizenship of Grenada through the following investment options:

New Changes

Grenada CIU had strengthened their citizenship by investment program with some new changes introduced in 2019 benefiting the applicants, after appointment of new CEO

• Removal of permanent residence as a pre-requisite for citizenship
• Removed the requirements for dependent children between the ages of 18 and 30 to be enrolled at an institution of higher learning and
• Parents or grandparents over 55 years to be fully supported.
• Secondary purchasers of CBI real estate units in approved real estate projects can acquire citizenship
• Real estate investment reduced to USD 220,000 per share, jointly or co-investing in $440,000 unit.

Citizenship fees

On top the above investment minimum, the following additional fees are payable to the Government.

NTF Contribution

Real Estate

Five Star Hotels

You can also invest in five star hotels investing atleast $220,000 plus Govt fees in Grenada for citizenship.

• Kimpton Kawana Bay
• Six Senses Resort

Passport validity

The passport initially issued is valid for 5 years and no requirement to visit Grenada.

Processing time

About 2-3 months

Real Estate

The current minimum real estate requirement has been reduced to USD 220,000. You can buy equity share, limited share in five star hotels and luxury resorts in Grenada. You get permanent residency + citizenship. We work with hotel developers directly without intermediaries.

Citizenship Legislation

Application Forms

The applications forms for Grenada CBI is available for free download from official website.

• Form 1 – Personal Information DOWNLOAD FORM
• Form 2- Fingerprints DOWNLOAD FORM
• Form 3- Particulars for the Office of Home Affairs DOWNLOAD FORM
• Form 4- Medical DOWNLOAD FORM
• Form 5- Employment Status DOWNLOAD FORM
• Form 6- Investment Confirmation DOWNLOAD FORM

Grenada Passport

Grenada passport is ranked 39th best passport in the world with visa free travel to 121 countries according to 2016 visa restrictions index. Grenada passport is the only country in the caribbean which has visa free travel to China.

Download

Grenada Brochure – download pdf

Visa Waivers

Grenada has visa waiver agreements with number of countries and territories. You can download the full list pdf

Due Diligence

Vetting and due diligence are performed by the likes of third party due diligence firms such as Thompson Reuters; the Financial Investigations Unit (FIU); the Joint Regional Communications Center (JRCC); international clearances through Interpol; and other procedures. Commercial (or technical) due diligence is performed concurrently with security due diligence. Commercial due diligence includes research on bankruptcies, litigation and sanctions.

Application process

An applicant for citizenship must fulfill the personal requirements established under the Grenada Citizenship by Investment Act, 2013. Among other things, this means that he or she must be at least eighteen years old, have no criminal record, be in good health, and be willing to make the required contribution. A person who fulfills these requirements may then take the following steps:

STEP 1 : The first step in applying for citizenship is to apply through authorized agent, pay an initial 10% deposit retainer fee.

STEP 2: The second step in an application for citizenship is contacting an Authorised Local Agent, whose role is to provide the applicant with assistance in preparing documents for submission to the CBIC. The applicant will need to complete official forms, attend a medical examination, and obtain certain supporting documents – all of which must be submitted in English and be appropriately legalised. If the applicant is purchasing real estate, this will need to be reserved through a sale and purchase agreement. The Authorised Local Agent will be able to advise the applicant on the preparation of the documents and on how to have them legalised.

STEP 3: When all forms are complete, the Authorised Agent submits the application to the CBIC. The Authorised Local Agent then becomes responsible for liaising with the CBIC in relation to all correspondence, queries, or questions that may arise with respect to the applicant’s file. There is currently no mandatory interview requirement for the Grenada Citizenship by Investment Programme.

STEP 4: 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.

STEP 5: If the application is successful, the CBIC issues a letter instructing the applicant (through his or her Authorised Local Agent) to either make the contribution (for the NTF option) or complete the purchase of his or her real estate. If real estate is purchases, then the applicant must demonstrate completion, as well as the execution of all necessary documents. Upon receiving proof of payment, the CBIC issues the certificate of registration, establishing that the applicant has received Grenadian citizenship. Authorised Local Agents must use this certificate to apply for a Grenadian passport on behalf of the applicant.

Grenada Real Estate

Grenada property market is expected to expand by 1.8% in 2016 due to increasing number of foreign buyers. Hotel cottages cost about $420,000 while luxury villas in coastal areas cost $600,000. The average prices per square foot cost $200 to $500 depending on the location. The rental yields are about 4.2% in coast areas.  The residential areas of Mount Cinnamon, Prickly bay, Port Louis cost around $700 to $1000 per sq.ft while at Four seasons are very expensive almost double $1700 per sq.ft

Under the real estate investment option, one has to buy a Government approved real estate project  developments such as approved project consists of real estate developments luxury hotels, resorts, and villas worth atleast USD 350,000. You must hold the real estate 5 years.

Below please find a list of Government-approved projects that have qualified for the Grenada Citizenship by Investment progra. This list is likely to change as more projects are approved and new opportunities become available. Please check back to keep up to date.

Approved Real Estate

These are the only 18 approved CIP real estate projects that qualify for citizenship.

Grenada Citizenship FAQs

These are frequently asked questions about grenada citizenship.

Can i apply for citizenship with my family?

Yes, you may apply for citizenship with your wife or husband, dependent children, and dependent parents. Fees for family members vary according to the number of family members included in a citizenship application.

Is the NDF investment refundable if application refused?

You only pay full amount only after receiving approval letter from the Government. You will start the application process paying $10,000 in advance and launch the application to Government through authorized agent.

Do i have to visit Grenada for the application process?

No, you do not need to visit Grenada before, during, or after the application process. You can collect passports from your authorized agent.

Must I renounce my current citizenship and passport to receive Grenadian Citizenship?

No, Grenada allows dual citizenship, and you thus do not need to renounce any other citizenship or passport.

What is the time frame for the process?

Your application for Citizenship by Investment will be approved within 60 business days of submission (subject to a satisfactory due diligence check and the funds being received). You may apply for a passport shortly after. Passports are issued within days of the request.

For how many years is a Grenadian passport valid for?

All Grenadian passports are valid for five years.

Are there any interviews for the CBI?

No

Can i submit applications directly to the citizenship unit?

No you can only submit applications to Grenada citizenship unit, through authorized agent. We work with several local and marketing agents in Grenada authorized by the Government.

How do I renew my passport after expiry?

Grenadian passports can be renewed in the Grenadian Consulate in London, or directly through the Grenadian Passport and Immigration Office. You dont need to re-make any investment. There is a small $200 passport fee.

How is the education system in Grenada?

Grenada is home to the best United States offshore university – St George’s University. It is one of the finest medical, veterinary, and arts and sciences schools, and graduates train in some of the top hospitals in the United States and the United Kingdom. It is internationally accredited and currently has 6,000 students for over 140 countries.

How does Grenada being a part of the Commonwealth of Nations help me?

Being a citizen of a member of the Commonwealth of Nations brings several benefits. For example, you will be able to travel easily across member states, you will be protected by the embassies and commissions of other member states across the globe, and you will be eligible for certain sporting activities (the Commonwealth Games).

How is the economy of Grenada?

Grenada’s economy is expanding in the tourism, agriculture, and manufacturing sectors. As part of the Easter Caribbean Central Bank and currency system, its currency is stable, secure, and tied to the United States dollar. Business can also be conducted in United States dollars. There are no taxes on the repatriation of profit.

Can i visit USA and Canada with Grenada passport?

No you will need separate visa for these countries.

What is E2 treaty with US?

Grenada has signed E2 treaty with the US in 1989. The E-2 nonimmigrant classification allows a national of a treaty country (a country with which the United States maintains a treaty of commerce and navigation) to be admitted to the United States when investing a substantial amount of capital in a U.S. business.  For more information see: https://www.uscis.gov/working-united-states/temporary-workers/e-2-treaty-investors.

Can i add siblings for citizenship?

Grenada is the only CIP that permits the inclusion of siblings.

Can Grenadian citizenship be passed through family generations?

Yes, citizenship can be passed up to third generation family members.

What are the common reasons for citizenship refusal?

In order to protect its people and Grenada’s international standing, the Government of Grenada will only grant citizenship to individuals who are truly deserving of that honor. Therefore, the Government will deny the application of any applicant who:

• Provides false information on his or her application form;
• Has at any time previously been convicted in any country of an offense for which the maximum custodial penalty for the same or similar offense in Grenada is in excess of six months imprisonment (unless he or she received a free pardon);
• Is the subject of a criminal investigation;
• Is considered to be a potential national security risk to Grenada or to any other country;
• Is involved in any activity likely to cause disrepute to Grenada; or
• Has been denied a visa to a country with which Grenada has visa-free travel and who has not subsequently obtained a visa to the country that issued the denial
• Reason to believe economic activity arising from OFAC sanction countries.

All main applicants must:

•  at least eighteen years old;
• in good health; and
• Has enough funds to make the required investment. The source of these funds must be legal.

Whats special about Grenada passport?

Grenadian passport has visa waiver agreement with Russia, China, EU countries, United Kingdom, Ireland and 142 countries as of 2019.

How can i get permanent residence card along with passport?

CBI applicants can apply permanent residence card for an additional fee of $1,000 if  invested in a freehold property in an approved section 11 program, or if the applicant enters into a lease of one year or more.

What rights do i get becoming an economic citizen?

You get equal treatment with all citizens, right to vote, and hold government office positions.

Does Grenada publish citizen names in Gazette?

No. Neither published in Govt publications nor reported to other countries. Application process is confidential

As a CBI citizen, how can i apply for E-2 visa to United States?

You can apply for E-2 non immigrant visa at the US embassy at Barbados in person. You may be called for interview. Additional requirements include permanent residence status as a resident in Grenada.

Are there any restricted countries who cannot apply for Grenada?

None. But an applicant who is denied citizenship in another CBI country will not be considered for citizenship in Grenada.