Grenada

A vivid range of locally grown spices has rendered Grenada the rightful sobriquet – Spice Island! Defined by exquisite natural beauty and aesthetic waterfronts that are unique to the Caribbean, Grenada comprises of three main islands. The wonderful landscape is duly complemented by excellent food joints, uber-cool beaches, maritime activities like sailing and diving. It’s all summed up by a calendar of truly memorable festivities that make Grenada a preferred destination for many high net worth investors.

Grenada is well known as a tourist destination, over one million tourists Grenada welcomes every year. That is why there is a recent boom in tourism coupled with foreign direct investments in Grenada. The offshore financial industry is also on the rise along with significant growth in construction and manufacturing. The Grenadian government is attracting foreign direct investment by working closely with a handpicked selection of businesses in the manufacturing, agriculture, and tourism sectors.

Grenada is also well known by St. George's University, one of the largest medical American universities in the region with over seven thousand students from around the world.

 

Capital: Saint George's | Total Area: 344 sq. km. | Languages: English (official), French patois | Government Type: Parliamentary democracy (Parliament) and Commonwealth realm | Currency: East Caribbean dollars (XCD), tied to USD

Why Grenada Citizenship by Investment?

Launched in 2013 under the regulations of the Grenada Citizenship by Investment Act, their pilot scheme under the Grenada Citizenship by Investment Program is easy and beneficial for qualified investors and their family members. The good news for investors is that they can take advantage of their existing passports since Grenada recognizes dual citizenship. The government of Grenada has dedicated official website in order to verify all required information as the following: https://www.cbi.gov.gd/. However, the highlights of the Grenadian Citizenship by Investment Program are as follows: 

Visa-free travel to over 144 countries, including the UK and EU.

The only country in the Caribbean that has visa free with China.

The processing rate is fast and usually happens in 120 days.

No physical residency requirements.

No tax on worldwide income.

Education management experience, interview, and travelling to Grenada during the application process is not required.

Children who are challenged physically or mentally and fully dependent on the main applicant can be included.

Provision to include dependent children under 30 and dependent parents above 55.

Siblings of the main applicant/spouse above 18 years old, single, and not having children can be included.

Possibility to live and work in the US through E-2 visa program signed between Grenada and the United States.

What are the qualifications?

Main applicant should be above 18 years old.

Have a high personal net worth.

Reflect an outstanding character.

Hold no criminal record.

Pose excellent health.

Doesn’t have visa refusal to any country that Grenada has visa free agreement with.

What are investment options?

Real Estate Investment

Grenada’s economy, once defined by agriculture, is slowly moving to a more service-dominant structure. This enables foreign nationals with a viable option to invest in a pre-approved real estate project.



Real Estate Investment cost

The applicant must invest in an approved project by the government with a minimum investment of USD 350,000 or USD 270,000 in a tourism accommodation center.

And

must contribute to the government based on numbers of applicants as the following:

  • Single Applicant USD 50,000.
  • Main applicant + Spouse USD 50,000
  • Family of up to four, “Except for Siblings, Parents and Grandparents under age 55” USD 50,000.
  • USD 50,000 and USD 25,000 Per additional dependent after the third dependent

National Transformation Fund (NTF)

The applicant can start the citizenship process with a minimum donation of $230,000 to the National Fund. However, this amount applies to a family of up to four members, including the main applicant. If additional members are to be included, an extra $25,000 must be added. For each sibling added, an additional $75,000 is required.



National Transformation Fund (NTF) cost

  • Single applicant USD 235,000.
  • Family of 4 including main applicant with spouse and dependents USD 235,000.
  • USD 235,000 plus USD 25,000 or USD 50,000 per additional dependent after the third dependent .
  • Additional sibling USD 75,000.

Applicable Fees in both investment options: 

 

Application fee per applicant USD 1,500
Due diligence fee for all applicants aged 17 and above USD 5,000
Processing fee per person aged 18 and over USD 1,500
Processing fee per person below 18 USD 500
Interview fees USD 1,000
Passport fees per applicant USD 350
Passport fees for applicant below 16 years USD 350
Oath of allegiance fee per person aged 18 and over USD 20
Due diligence fee for the person sponsoring the application and not included   USD 8,000

 

Fees for adding future dependents after granting citizenship: 

Adding a new spouse - registration fees USD 1,000
Adding a new baby born - registration fees USD 500

 

To know where to invest, reach out to our expertise.

For further clarification, you may visit the government's official website as the following: https://www.cbi.gov.gd/index.php/schedule-of-fees

 

What is the process?

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