How To Get Citizenship of Grenada
Grenada’s beautiful setting in the Caribbean Sea, along with its safe environment and cost-effective Citizenship by Investment program makes it an attractive destination for investors looking to gain a second citizenship for themselves and their families. Known as the “Spice Island” it boasts beautiful landscapes, idyllic beaches and a stable economy.
Astons’ team of experienced experts can advise and guide you on any of the Caribbean programs, or on other international programs to ensure you choose the best option to suit your individual needs. Contact us for your free initial consultation.
Grenada’s Citizenship by Investment program, whose mission statement is to increase inward investment in the country while protecting the integrity and reputation of Grenadian citizenship worldwide, has been running since 2013 and it offers two routes to citizenship –
- Either: a donation of a minimum of US$150,000 to the government’s National Transformation Fund
- Or: investment in a government-approved project, usually the acquisition of real estate, with a minimum value of US$350 for a single applicant, or alternatively an investment of a minimum of US$220,000 into a shared ownership
The National Transformation Fund (NTF) provides money for Government-sponsored projects within Grenada, to the benefit of the Grenadian people via its industries such as tourism, agriculture and alternative energy.
To include a spouse in the application via the NTF, the donation rises to US$200,000, while for a family of four people it is US$200,000 and for over 4 people the cost rises by an additional US$25,000 per person included in the application. After this one-time, non-refundable donation has been made, the applicant may apply for citizenship or, if they prefer they can apply for permanent residency, with the option to apply for citizenship at a later date.
Government-approved project (real estate) The vast majority of government-approved projects consist of real estate, including luxury hotels, resorts and villas. This type of investment offers the opportunity to gain returns on the investment, as long as it is kept for a minimum of five years. The minimum investment is US$350 for a single buyer of a property, or US$220,000 for a shared ownership.
Benefits of Grenadian Citizenship
Grenadian citizenship offers several benefits to the investor, giving the same rights as any native Grenadian citizen:
- The right to live and work in Grenada
- All the rights associated with being a member of the Caribbean community (CARICOM)
- The right of visa-free movement to 144 countries including China, Russia, Singapore, the UK and the EU Schengen area countries
- Fast route to USA permanent residency via the E-2 visa. Grenada is the only country offering this route into the USA
- Citizenship extended to additional family members such as spouse, unmarried siblings, dependent children and dependent parents
- Citizenship is allowed to be transferred to descendants
- Grenada allows dual citizenship so no need to renounce previous passport
- Preferred access and in some cases finance, for children and young people to attend prestigious schools and universities
- Beneficial tax arrangements with no tax payable on income, wealth or inheritance
- No residency requirement to live in the country either before or after the citizenship application
- No interview, education or management experience required
- Affordable processing fees
- An attractive, stable and safe living environment
Who Can Apply For Grenadian Citizenship?
Applicants for Grenadian Citizenship must fulfil the following requirements:
- Be at least 18 years old
- Be in good health
- Demonstrate that they have enough funds, obtained from a legal source, to make their investment
They must not:,
- Provide false information on their application form
- Have been convicted of any crime that would carry a term of imprisonment for six months or more, in any country
- Be the subject of a criminal investigation
- Be considered to be a potential security risk to Grenada or any other country
- Be involved in any activity that would bring Grenada into disrepute
- Have been denied a visa by any country with which Grenada has a visa-free travel arrangement
What Is The Timescale For The Application Process?
Citizenship is usually granted in around three to four months.
Can Family Be Included In The Citizenship?
Spouse, unmarried siblings, dependent children and dependent parents can all be included.
It is clear that Grenada offers one of the best low-cost and easy Citizenship by Investment programs. As well as giving the investor access to a high quality lifestyle in attractive surroundings within a stable and safe nation, it offers visa-free travel to many countries, beneficial tax rules and a fast-track route towards USA citizenship via the coveted E-2 visa. All these factors make Grenada one of the most popular Citizenship by Investment countries worldwide.
For more information and advice on Citizenship and Residency by Investment programs in the Caribbean and internationally, book a free consultation with a trusted Astons adviser here.