The Grenadian Citizenship-by-Investment Programme is one of the more appealing second citizenship options out there. With a fast turnaround time for citizenship and no need to ever physically be in Grenada, it’s a great opportunity for a second passport that could give you access to the US as well as visa-free travel to the UK and the rest of Europe.
Why Grenada should be your citizenship-by-investment destination
Known as the Isle of Spice, Grenada is an independent country located within the south-eastern Caribbean and outside of the hurricane belt. With a stable democracy and few political or social issues, it is one of the safest and friendliest islands in the Caribbean. Home to a plethora of lush, tropical forests, stunning waterfalls and gorgeous sandy beaches, Grenada boasts a strong economic outlook with steady growth in tourism, agriculture and manufacturing.
It is also a very tax friendly island with no foreign income, capital gains, gift, wealth or inheritance tax payable in Grenada.
The Grenadian Citizenship-by-Investment Programme (CIP) is unique in that you don’t need to live in or visit the country to apply.
One of the most appealing aspects of Grenadian citizenship is that once it’s granted, access to the US also becomes a possibility through the E-2 Investor Visa treaty. This gives citizens the ability to apply for a non-immigrant visa based on the investment of a substantial amount of capital into a US business.
See also: Top 10 countries where people can buy citizenship and residency
Benefits of the Grenada citizenship-by-investment programme
The Grenadian CIP is one of the most straightforward investment migration programmes to join.
- A fast, efficient and uncomplicated process straight to citizenship – applications are processed and approved in four to six months.
- No physical residency requirement before or after citizenship is granted and there is no need to visit Grenada during the application process.
- No interview, management skills or education experience required.
- The programme covers investors, their spouses, financially dependent children up to the age of 29, parents and grandparents. Siblings of the main applicant and spouse can also be included provided they are not married and do not have children.
- Grenadian citizenship can be passed onto future generations in perpetuity.
- Grenada allows dual citizenship.
- A safe and friendly place to visit.
- Grenada is the only Caribbean country with an E-2 Investor Visa treaty with the United States. This allows citizens, who have significant funds, to enter the US to live, set up and operate a business.
- Option to sell the investment after five years, and secondary purchasers of real estate can also qualify for the CIP.
- Grenada has a source-based income tax with no wealth or inheritance tax.
- No taxes on the repatriation of profit.
- Visa-free travel to 143 countries including the UK, the EU and Schengen Area, China, Singapore, Hong Kong, Russia and Brazil.
See more: Seeking US residency by investment? The benefits of a US EB-5 visa
Two investment routes for Grenadian citizenship
To qualify for citizenship, the main applicant must be over 18 years of age and meet the due diligence requirements of the programme. The main applicant and their dependants must have clean personal backgrounds and have excellent health.
There are two investment options for the Grenadian CIP, each with its own financial requirement.
The NTF donation path requires a minimum non-refundable donation of $150,000 to the Grenada National Transformation Fund (NTF) for a single applicant. For a family of two to four members, the minimum donation amount is $200,000.
Additional due diligence fees for the main applicant as well as their dependants, government application fees, government processing fees means that the total cost of the NTF donation route is approximately $260,000 per family of four.
Real estate investment
The other option is a real estate investment of $220,000 in a government approved real estate project (shared ownership). The investment must be held for a minimum of five years.
With the real estate investment there is a further flat government contribution to be paid:
- $50,000 for the main applicant and up to three dependants
- $25,000 for each additional dependant
- $50,000 for financially dependant parents
- $75,000 for single siblings, 18 and over
Inclusive of all programme administration fees, share issuing fees and professional fees, the total cost of the real estate investment route is approximately $340,000 per family of four.
See also: Advice on cross-border financial planning and investing offshore
Our advice on the Grenadian investment routes
While the real estate route has the bigger price tag of the two options, it is more beneficial to investors as it offers the opportunity to earn a return on your investment and investors are also permitted two-weeks usage per year. The NTF donation route affords no return of capital and no possible ROI. It is a straightforward monetary contribution.
Most approved projects are five-star resorts in which investors can buy a share or a unit. These prove excellent for both Grenada – as they help create jobs and boost tourism – and for investors, as they generate returns, are managed on your behalf and the share can be sold after the five-year holding period.
We have partnered with specialist service providers to offer you professional guidance from start to finish. Equipped with a unique mix of expertise and a long-standing knowledge of the programme, you can be certain to find the right fit in terms of investment opportunity.
Get in touch with an investment migration consultant at email@example.com or call us on +27 (0) 21 657 1584.
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