Grenada is one of the important destinations in the Caribbean area. Grenada is well-known for its spice cultivation and is often referred to as the “Spice Land”. Grenada has within it ultramarine seas & beaches, a huge level of tropical vegetation and lavish restaurants, able to enough to keep you taste struck. Grenada’s Citizenship by Investment Program was developed by keeping the families as the key factor in mind.

What is Grenada Citizenship by Investment?

The Grenada Citizenship by Investment Program has become one of the most preferred Citizenship by Investment Program after the program was redeveloped and launched during the year 2013. The Grenada Citizenship by Investment Program has also won the best CBI program award for being the most affordable program in its category, especially when parents choose to apply along with their children.

The Grenada Citizenship by Investment Program Eligibilities & Process: –

Applicants who apply for Grenada Citizenship by Investment Program should be aged at least 18 years old. The applicant gets two choices of potential investments for him/her to choose from. One is the contribution to the National Transformation Fund and the other is the real estate investment on Government approved sites.
The Government of Grenada is strict when it comes to immigration policies and will not approve candidate’s application if he/she does not show a clear picture of their source of funds. The application processing time varies from each application considering the factors like granting of required documentation by the applicant and so on. All the applications are looked into & reviewed by the Citizenship by Investment Unit (CIU).

The process of applying through Grenada Citizenship by Investment Program involves the following steps:

  • The preparation & pre-approval of the application by CanApprove.
  • The application will then be submitted for citizenship.
  • The application will be processed by the Government which takes up to 3 months.
  • Once the government gets done with the processing phase, an approval in principle is given.
  • The applicant should invest in either of the available investment options.
  • The citizenship certificate is then issued.
  • The final phase process would be the issuance of Passport application.

Benefits of Choosing Grenada’s Citizenship by Investment Program: –

Applicants who choose to Immigrate to Grenada through Grenada Citizenship by Investment Program get to enjoy the following benefits.

  • The processing fees are minimal.
  • The applicant need not have to face an interview, meet educational qualifications & management experience.
  • The applicant will not be imposed any conditions like that he/she has to reside in Grenada once the citizenship is granted.
  • Grenada has a stable & an established investment environment.

Benefits of Being a Grenadian Citizen: –

  • Individuals who gain citizenship via Grenada Citizenship by Investment program enjoys the same rights as any other citizen of Grenada.
  • A Grenadian Citizen has the right to live & work in Grenada at all times.
  • The candidate gets to enjoy dual citizenship and also the ability to extend their citizenship to family members.
  • Children & young adults may be granted access to top universities & schools.

Investment Options: –

The applicant immigrating to Grenada through the Grenada Citizenship by Investment Program should choose from any one of the following investment options.

  • Contribution to National Investment Fund
  • Investment in Real Estate.

The National Transformation Fund: –

The National Transformation Fund is a fund held by the government and is responsible for financing projects that would benefit Grenada’s economy. Applicants who prefer this investment option should make a one-time contribution to the National Transformation Fund (NTF).

Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
Required Contribution Amount USD 200,000 USD 200,000 USD 200,000 USD 200,000 plus USD 25,000 per additional dependant after the third dependant
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18 and over, USD 2,000 for each dependent aged between 12-17 USD 5,000 per person aged 18 and over, USD 2,000 for each dependent aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person USD 1,500 per person aged 18 and over, USD 500 for persons under 18 USD 1,500 per person aged 18 and over, USD 500 for persons under 18

The applicant can apply for citizenship immediately or apply for permanent residence first and then apply for citizenship later.

Investment in Approved Real Estate Project in Grenada: –

The Citizenship by Investment Committee decides whether a project should be submitted or not and then informs them to the minister. The Minister finally decides whether or not to approve the project and then publishes the approval in the Gazette.

Till date, the majority of the projects approved consists of luxury hotels, resorts, villas & more. The applicant who chooses to invest should make sure that the investment is done through an Authorised Local Agent. The investments made in real estates must be maintained at least years from the date of granting Citizenship.

Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
Required Contribution Amount USD 350,000 USD 350,000 USD 350,000 USD 350,000
Government Fee USD 50,000 USD 50,000 USD 50,000 USD 50,000 and USD 25,000 per additional dependant after the third dependant
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18 and over, USD 2,000 for each dependent aged between 12-17 USD 5,000 per person aged 18 and over, USD 2,000 for each dependent aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person USD 1,500 per person aged 18 and over, USD 500 for persons under 18 USD 1,500 per person aged 18 and over, USD 500 for persons under 18

Grenada is a place where its people are proud of the long cultural & national heritage the country has and they celebrate it throughout the year. Grenada is a place perfect for people who seek both adventure and relaxation. It definitely is an exciting place to explore taking into account its marine life, wildlife attractions and the national parks it has.

For more information on Grenada Citizenship by Investment Program, get in touch with our team of experts.