Table of Contents
Overview of Grenada Citizenship by Investment (CBI)
Historical Insight
The Grenada Citizenship by Investment Program (CIP) was launched in August 2013 by the Grenadian government. The program allows foreign investors to gain citizenship in exchange for significant contributions to the nation’s economic development.
Investors have two primary options for investment: a non-refundable donation to Grenada's National Transformation Fund (NTF) or an investment in government-approved real estate projects.
Key Amendments to the Program
- March 2019: Expanded dependent eligibility, including grandparents and siblings.
- April 2019: Reduced the minimum joint real estate investment from $350,000 to $220,000.
- September 2023: Introduced mandatory citizenship interviews for investors and dependents over the age of 17.
- March 2024: Signed the Caribbean Memorandum of Understanding (MoU), expanding regional cooperation.
- June 2024: Raised the minimum investment requirement from $150,000 to $235,000 as per the MoU.
Grenada Citizenship Benefits
Extensive family inclusion
Great tax advantages
No visitation or residency requirements
Short nine-month citizenship application process
Visa-free travel to over 140 countries
Opportunity to apply for the USA E-2 visa
Why choose Grenadian citizenship by investment?
You should apply for a Grenada passport by investment if:
- Grenadian citizens have visa-free access to over 147 Grenada passport visa-free countries, including the European Union, the UK, Hong Kong, Singapore, Russia, and China.
- Diversify your assets and utilize Grenada tax advantages, including no global income tax, inheritance tax, or capital gains tax.
- The Grenada government allows dual citizenship, so you can maintain your current citizenship when obtaining Grenadian citizenship.
- Purchase shares of or entire high-end tourist real estate and obtain Grenadian citizenship while benefiting from the Caribbean’s thriving tourism sector.
- Secure a Plan B for yourself, your family, and future generations by becoming a citizen of the Caribbean community in a member state of the Organization of Eastern Caribbean States (OECS).
- There is no minimum net worth requirement, and the investment amount is $235,000 for a single applicant or a family of four.
- Grenadian citizens are the only Caribbean nationals who can settle in the USA through the US E-2 Visa, a non-immigrant visa.
Grenada Citizenship by Investment Statistics
| Year | Applications Received | Applications Approved | Applications Rejected | Real Estate Option (EC$ millions) | NTF Option (EC$ millions) | Total Revenue (EC$ millions) |
|---|---|---|---|---|---|---|
| 2020 | 394 | 375 | 35 | 151 | 84 | 253 |
| 2021 | 566 | 402 | 24 | 161 | 88 | 282 |
| 2022 | 1,251 | 453 | 8 | 224 | 65 | 275 |
| 2023 | 2,297 | 1,503 | 58 | 672 | 274 | 1,129 |
| 2024 | 148 | 890 | 36 | 254 | 155 | 502 |
Grenada Citizenship by Investment Eligibility Criteria
Grenada’s government launched the Grenada Citizenship by Investment Program in 2013 by passing the Citizenship by Investment Act, 2013. The following individuals can apply to the economic citizenship program:
Requirements for the main applicant
- Be over 18 years old
- Have an outstanding character
- Be in good health
- Hold a clean criminal record
- Pass a detailed background check
- Make a qualifying investment
Requirements for dependent family members
The following family members can be included in the application process and obtain Grenadian citizenship for life:
- Spouse
- Children under the age of 18
- Children aged 18 to 29, supported by the main applicant or spouse
- Children aged 18 or over who are physically or mentally challenged
- Dependent parents or grandparents of the main applicant or spouse, fully supported by the main applicant
- Siblings of the main applicant or spouse, whether biological or adopted, aged at least 18, unmarried, and with no children
Restricted countries
Investment Migration Agency Grenada restricts citizens of the following countries from applying for Grenada’s citizenship program:
- Afghanistan
- Belarus
- Iran
- North Korea
- Russia
- Sudan
- Yemen
Specific circumstances may allow individuals born in these restricted countries to pursue citizenship in Grenada, provided they meet all of the below criteria:
- Migrated prior to reaching adulthood or possess permanent residency or a valid visa for at least ten years in the UK, the US, Australia, New Zealand, Saudi Arabia, the UAE, or any Schengen country.
- Maintain no economic ties to a restricted country.
- In cases where applicants originate from Afghanistan, Iran, Sudan, or Yemen, due diligence providers are empowered to conduct comprehensive investigations and on-site inquiries in the applicant’s country of birth.
Grenada Citizenship Investment Options
1. National Transformation Fund Contribution
| National Transformation Fund | Single Applicant | Family Up to 4 | Additional Dependent (Child and Parent/Grandparent Over 55) | Additional Dependent (Parent/Grandparent Under 55) | Additional Dependent (Sibling) |
|---|---|---|---|---|---|
| Minimum Donation | $235,000 | $235,000 | + $25,000 each | + $50,000 each | + $75,000 each |
| Application Fee | $1,500 per person | $1,500 per person | $1,500 per person | $1,500 per person | $1,500 per person |
| Due Diligence Fee | $5,000 for each family member aged 17 or over | $5,000 for each family member aged 17 or over | $5,000 for each family member aged 17 or over | $5,000 for each family member aged 17 or over | $5,000 for each family member aged 17 or over |
| Processing Fee | $1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
| Interview Fee | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over |
2. Approved Real Estate Investment
| Real Estate Investment | Single Applicant and Up to 4 Family Members | Additional Dependent (Child and Parent/Grandparent Over 55) | Additional Dependent (Parent/Grandparent Under 55) | Additional Dependent (Sibling) |
|---|---|---|---|---|
| Minimum Investment | Option 1: $270,000 in shares Option 2: $350,000 as sole owner |
+ $25,000 each | + $50,000 each | + $75,000 each |
| Government Fee | $50,000 | $25,000 | $50,000 | $75,000 |
| Application Fee | $1,500 per person | $1,500 per person | $1,500 per person | $1,500 per person |
| Due Diligence Fee | $7,500 for each family member aged 17 or over | $7,500 for each family member aged 17 or over | $7,500 for each family member aged 17 or over | $7,500 for each family member aged 17 or over |
| Processing Fee | $1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
$1,500 per person aged 18 or over $500 per person under 18 |
| Interview Fee | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over | $1,000 per applicant aged 17 or over |
Grenada Citizenship by Investment Required Documents
The Grenada citizenship by investment official website, imagrenada.gd, states that during the application, all documentation provided goes through a due diligence check performed by the Investment Migration Agency Grenada.
This is a vital step in a citizenship by donation or real estate investment application, as it means the documents and information will be checked to confirm the identity, financial profile, and security profile of the main applicant, as well as all family members aged 16 or over. A solid due diligence process is crucial to guarantee a CBI program’s credibility and longevity.
Document requirementsYou will need to fill out the following forms, which will be provided by Global Citizen Solutions:
- Client Facilitator Agreement
- Personal data and information (form 1)
- Fingerprints, obtained in front of a licensed officer (form 2)
- Particulars for the Office of Home Affairs (form 3)
- Medical certificate (form 4)
- Employment, wealth, business, and related information (form 5)
- Investment confirmation (form 6)
- Thomson Reuters consent form – for Grenada CBI applicants above the age of 16
- Purchase and sale documents in 4 copies (in case of the real estate investment option / Escrow agreement and letter of engagement with a local agent)
- Passport Application Form
- Interview Application Form
- Oath of Allegiance – required for each family member 18 years or older
- Sworn Affidavit confirming dependent parents’ names
In addition, the general civil document requirements are the following:
- Original full birth record or certified copy of the birth certificate (2 copies)
- Certified copy of proof of name change (if applicable)
- Certified colored copy of current passport(s) showing the name, photo, citizenship/nationality, date, place of issue, expiry date, and passport number
- Original passport-sized photos of every applicant taken within the last six months (12 needed). One photo needs to be certified by a lawyer
- Marriage or divorce certificates (2 copies)
- National ID or social security color copies (required for each applicant)
- Permanent residence ID or permanent residence proof
- Copy of military service card (if applicable)
- Affidavit from spouse or ex-spouse relating to children
- Affidavit of support from dependents
- Education certificates and transcripts
- Original documents proving the applicant’s residential address (e.g., utility bill)
- Original professional reference letter
- Lawyer or notary practicing certificate (a copy of the license of the lawyer of notary certifying the documents)
- Payslips and/or salary letters
- CV
- Original reference letter from the main applicant’s banker
- Personal bank statements over the last 12 months
- Police clearance and criminal record checks (original document)
Document translation and certification
A certified English translation must accompany documents not in English. Documents must be certified and authenticated following the law of the jurisdiction from where the document originates.
Step-by-Step Procedure: Obtain Citizenship by Investment
At World of Citizen, we guide you through the process of obtaining citizenship via investment with full support at every step. Here are the steps to follow:
Choose Investment Route
Select the appropriate investment route that fits your objectives, whether it's through direct investment or real estate.
Prepare Your Documents
Our team will assist you in gathering and preparing all necessary documentation to ensure a smooth process.
Submit Application
We will handle the submission of your application to the appropriate authorities.
Receive Approval
Once approved, you will receive a confirmation from the Citizenship by Investment Unit.
Make Your Investment
After receiving approval, make the necessary investment to finalize the process.
Become a Citizen
Once your investment is completed, you will be granted citizenship.
Pros and Cons of Grenada Citizenship
Pros
- Access to long-term USA visas: Grenada is the only Caribbean country whose citizens can apply for the USA E-2 Visa. Grenadians can gain residency in the USA by fulfilling the investment visa requirements.
- Visa-free access: The Grenada passport ranks 74th on the Global Passport Index, providing the opportunity to travel visa-free to EU Schengen states, the UK, Singapore, Hong Kong, China, and Russia.
Cons
- Expensive: The Grenada citizenship cost is more expensive than some other Caribbean programs, with a minimum donation of $235,000 and real estate purchase of $270,000.
- Limited investment options: Unlike other Caribbean countries offering several investment opportunities, the Grenada citizenship program has only two investment routes: Real estate investment or NTF donation.
CBI Compliance and Monitoring in Grenada
Following a recent announcement by Prime Minister Dickon Mitchell of Grenada, the newly established Investment Migration Agency Grenada has succeeded the CIU as the governmental agency entrusted with the oversight of Grenada’s CBI program.
In close partnership with government entities such as the US Treasury, the Organisation for Economic Co-operation Development (OECD), and the Financial Action Task Force, the agency ensures compliance with regulations like anti-money laundering (AML) and know-your-customer (KYC) policies, while also monitoring the activities of licensed agents.
Implemented on 30 June 2024, the Memorandum of Understanding agreement between Grenada, Antigua and Barbuda, Dominica, St. Kitts and Nevis, and St. Lucia will reinforce and improve compliance of investment citizenship programs in the Caribbean.
Why Choose World of Citizen?
World of Citizen is a leading advisory firm specializing in citizenship by investment solutions. We provide bespoke services tailored to meet the unique needs of our clients who are seeking second citizenship or residency in various global jurisdictions.
- Global Expertise with Local Knowledge: Our team includes highly experienced professionals who are well-versed in international investment programs and have deep local knowledge in all regions we operate.
- 100% Success Rate: We are proud to maintain a flawless approval rate, ensuring our clients get the results they expect through thorough due diligence and personalized guidance.
- Transparent and Fair Pricing: No hidden fees or charges. We offer clear, upfront pricing for all our services, so you know exactly what to expect from the start.
- Tailored Solutions: We provide tailored investment and citizenship solutions, offering a range of programs that fit your personal or business goals.
- Confidentiality and Security: We adhere to the highest standards of data security, ensuring that all your personal information remains confidential and protected.
About Grenada
Grenada, often referred to as the "Spice Island" due to its production of spices like nutmeg, cinnamon, and cloves, offers a myriad of opportunities for investors seeking a lucrative and rewarding destination. With its stable political climate, robust economy, breathtaking natural beauty, and strategic location, Grenada presents compelling reasons to consider investment ventures.
The country consists of Grenada island itself, two smaller islands, Carriacou and Petite Martinique, and several small islands that lie north of the main island and are a part of the Grenadines. Its population is approximately 126,000, and the official language is English. Two other languages, known as the Grenadian Creoles (French and English), are also spoken.
Grenada has a stable political system and a strong commitment to democracy. The government is pro-business and has implemented policies to attract foreign investment, such as a favorable tax regime and fiscal incentives for investors. The country's economy has experienced steady growth in recent years, with sectors such as tourism, agriculture, and renewable energy contributing to its development.
There is plenty to do on the island, such as hiking, diving, snorkeling, and exploring the country's rich history. Grand Etang National Park and Forest Reserve is a great place to catch a glimpse of the island's wildlife and lush vegetation, while the turquoise waters surrounding the island provide the perfect environment for exploring Grenada’s underwater sculpture park and marine life.