Known as the Spice Island for its variety of locally grown spices Grenada features some of the most stunning coastlines in the Caribbean. Its beautiful scenery is one of the many reasons to visit its three captivating main islands. Whether you enjoy diving and sailing indulging in top notch dining relaxing on beaches or participating in lively celebrations throughout the year Grenada has become a popular choice for many affluent individuals.
What Makes Grenada Stand Out?
Grenada offers citizenship allowing investors to maintain the advantages of their existing passports. The Grenadian Citizenship by Investment Program presents key benefits:
- Expedited processing within four months.
- Inclusion of dependent children under 30, as well as children with disabilities living with and fully supported by the main applicant.
- Inclusion of dependent siblings of the main applicant or spouse under 18 years old with no children.
- Inclusion of dependent parents.
- No mandatory physical residency requirements.
- No need to travel to Grenada during the application process.
- No interview, educational, or managerial experience prerequisites.
- Visa-free travel to over 135 countries, including Europe’s Schengen zone.
- Participation in the E-2 Visa Program, facilitating substantial business operations and residency in the United States for Grenadian citizens.
- No taxation on worldwide income.
Eligibility Criteria
Established in 2013 within the framework of the Grenada Citizenship by Investment Act the Grenada Citizenship by Investment Program offers investors and their families a chance to acquire citizenship and enjoy the benefits of visa free travel.
In times tourism has become a key sector attracting foreign investments in Grenada. Moreover there has been growth in the offshore financial industry as well as strong performances in construction and manufacturing all contributing to the overall economic growth.
In line with its goal of attracting investments the government of Grenada collaborates closely with specific businesses in sectors such as tourism, agriculture and manufacturing. Through implementing this program the government aims to create investment opportunities that lead to job growth.
Applicants must fulfill one of the investment options detailed below and meet criteria to be eligible, for citizenship:
- Possess exemplary character.
- Demonstrate a clean criminal record.
- Maintain excellent health.
- Exhibit a substantial personal net worth.
Investment Choices
- Opting for real estate investment becomes an opportunity, for foreign investors as Grenada shifts its economy from agriculture to services. Those interested must commit least US$350,000, which needs to be held for a minimum of four years. This minimum amount covers the main applicant, their spouse, and two qualifying dependents. An additional US$25,000 is necessary for each extra dependent. If the applicant has a parent under fifty five they need to add a USD 50,000 along with the post approval contribution. Likewise if there is a sibling, an additional USD 75,000 contribution is necessary, after approval.
- Applicants also have the option to contribute least $150,000 to Grenadas National Transformation Fund instead. This minimum donation amount is specifically, for the applicant. For families of up to four individuals, the donation requirement stands at US$200,000. An additional donation of US$25,000 is necessary for each additional dependent. Just like with real estate investments if the application includes a parent under the age of fifty five an extra payment of $50,000 is needed along, with the approval contribution. Similarly if a sibling is included in the application, an extra payment of $75,000 must be made alongside the approval contribution.
Permanent Residency Certificates
The concept of residency has been completely eliminated from the citizenship through investment procedure. Consequently, the government no longer issues PR cards and certificates. Updates regarding an alternative form of national identification will be communicated upon receipt.
