Citizenship by Investment in Grenada

Popularly known as the Spice Island for its myriad of locally grown spices, Grenada offers one of the most picturesque waterfronts in all the Caribbean. The sublime scenery is just one of the many reasons to visit the three beautiful main islands. Diving, sailing, excellent restaurants, fabulous beaches, and a calendar of unforgettable festivities have fortified Grenada’s status as the preferred destination of many high net worth investors.

The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. Grenada’s pilot scheme allows qualified investors and their family members to apply for citizenship and benefit from visa-free travel.

In recent years tourism has become the leading sector for foreign direct investments in Grenada. Another service sector on the rise is the offshore financial industry, which together with strong performances in construction and manufacturing, have also contributed to growth in national output.

As part of its strategy to attract foreign direct investment, the Grenadian government is working closely with a select number of businesses related to tourism, agriculture and manufacturing. Through the implementation of the program, the government also hopes to create investment opportunities that will bring about sustainable employment.

Benefits

Grenada recognizes dual citizenship, meaning investors can still benefit from their current passports.

The Grenadian Citizenship by Investment Program offers the following prime benefits:

  • Fast processing within four months.
  • Inclusion of dependent children under 30, or children with physically or mentally challenged living with and fully supported by the main applicant.
  • Inclusion of dependent parents.
  • Inclusion of a sibling of the main applicant who is at least eighteen years of age, and single with no children.
  • No physical residency requirements.
  • No requirement to travel to Grenada during the application process.
  • No interview, education or management experience required.
  • Visa-free travel to over 125 countries, including Europe’s Schengen zone.
  • E-2 Visa Program signed between Grenada and the United States allows citizens of Grenada to operate a substantial business in the U.S. and reside therein.
  • No tax on worldwide income.

Qualification Criteria

To qualify for citizenship, applicants must fulfill one of the investment options below in addition to the following criteria:

  • Be of outstanding character.
  • Hold no criminal record.
  • Have excellent health.
  • Have a high personal net worth.

Investment Opportunities

  1. Real Estate Investment

With its economy shifting from agricultural-dominant to service-dominant, one of the most viable options for foreign nationals is investment in a pre-approved real estate project. An example of a current viable investment opportunity is Mount Cinnamon.

Mount Cinnamon:

The Mount Cinnamon Resort is situated on a lush hillside on almost two miles of the Grand Anse beach, which is recognized by many as one of the most beautiful beaches in the world. Looking towards the historic capital of St. George’s, the resort sets the tone for an irresistibly elegant, yet intimate, relaxed beach hideaway. An award-winning destination, Mount Cinnamon is the most successful development under Grenada’s Citizenship by Investment Program, having attracted more than 80 per cent of all investment applications. Comprising 22 gorgeous, privately owned villas on 23 acres of freehold land, Mount Cinnamon is currently adding 250 new residences as well as new luxury facilities thanks to the CBI Program. Investors may sojourn at the resort for a period of 10 days per calendar year.

Applicants must invest a minimum of US$350,000, which must be maintained for a minimum of four years. This reduced investment amount means our valued investors take on less risk. The minimum amount includes the main applicant, main applicant’s spouse and two qualifying dependents. An extra US$25,000 is required for each additional dependent. Note that where an application includes an eligible parent not exceeding the age of fifty-five years, an additional contribution of US$50,000 will be required to be made with the post approval contribution. Where an application includes an eligible sibling, an additional contribution of US$75,000 will be required to be made with the post approval contribution.

The opportunity to own shares of Mount Cinnamon is an invitation to become a citizen of Grenada, begin a long and fruitful relationship with the island and its culture, and contribute to its future.

  1. National Transformation Fund Donation

Applicants may donate a minimum of US$150,000 to Grenada’s National Transformation Fund.

The minimum amount covers the main applicant only. For a family of up-to four people, the requirement is set at US$200,000. An extra donation of US$25,000 is required for each additional dependent.

Note that where an application includes an eligible parent not exceeding the age of fifty-five years, an additional contribution of US$50,000 will be required to be made with the post approval contribution. Where an application includes an eligible sibling, an additional contribution of US$75,000 will be required to be made with the post approval contribution.

Procedure

The following 3 steps easily break down the process of application submission. Each step must be completed before moving on to the next one:

STEP 1: File preparation stage. Golden-Visa Consultancy will verify all documents and complete due diligence. Application fees are due to be paid in this step. Investing in the selected property development.

STEP 2: Submission of PR application and transfer of donation. Citizenship application submission. Naturalization Certificate is issued.

STEP 3: Submission of passport application. Issuance of passport.

Our clients rely on us for advice on international residence and citizenship matters.

To see how the combined expertise and global reach of our specialists could also work for you, please Contact Us for further information or to arrange a private consultation.