Grenada, often referred to as the “Spice Isle” due to its production of nutmeg and mace, is not only known for its beautiful beaches and vibrant culture but also for its attractive Citizenship by Investment (CBI) program. Launched in 2013, Grenada’s CBI program has garnered significant interest from investors worldwide. In 2024, the program continues to offer a unique pathway to citizenship with several attractive benefits.
Benefits of Grenada Citizenship
- Visa-Free Travel: Grenadian passport holders enjoy visa-free or visa-on-arrival access to over 140 countries, including key destinations such as the Schengen Area, the UK, China, and Russia.
- E-2 Visa Treaty: Grenada is one of the few countries whose citizens are eligible for the United States E-2 Investor Visa, allowing individuals to reside and operate a business in the U.S.
- Tax Advantages: Grenada does not impose taxes on worldwide income, wealth, inheritance, or capital gains, making it a favorable jurisdiction for global investors.
- Quality of Life: Grenada offers a peaceful, safe, and beautiful environment with excellent healthcare and education facilities.
Ways to Invest in Grenada for Citizenship
To obtain Grenada Citizenship by Investment Program, investors have two main options: the National Transformation Fund (NTF) and Real Estate Investment. Both pathways have distinct benefits and requirements.
1. National Transformation Fund (NTF)
The NTF is a government-established fund aimed at financing various projects to boost Grenada’s economy. Contributions to the NTF are non-refundable.
Investment Requirements:
- Single Applicant: A minimum contribution of $150,000.
- Main Applicant and Spouse: A minimum contribution of $200,000.
- Family of Four: A minimum contribution of $200,000.
- Additional Dependents: Each additional dependent incurs an extra fee of $25,000.
Process:
- Submit the application through an authorized local agent.
- Pass thorough due diligence checks.
- Make the required contribution to the NTF upon approval.
2. Real Estate Investment
Investors can also obtain citizenship by purchasing government-approved real estate in Grenada. This option allows for a potential return on investment through rental income and property appreciation.
Investment Requirements:
- A minimum investment of $220,000 in a government-approved real estate project.
- The property must be held for at least five years before it can be sold.
Process:
- Select a government-approved real estate project.
- Sign a purchase and sale agreement and pay a deposit.
- Submit the citizenship application through an authorized local agent.
- Pass due diligence checks.
- Complete the property purchase upon approval and receive citizenship.
Application Process
The application process for Grenada’s CBI program involves several steps:
- Engage an Authorized Agent: Applicants must use a government-authorized agent to submit their application.
- Prepare Documentation: Collect and prepare required documents, including passport copies, proof of funds, medical reports, and police clearance certificates.
- Submit Application: The agent submits the completed application and supporting documents to the Grenada Citizenship by Investment Unit (CIU).
- Due Diligence: The CIU conducts a thorough due diligence check on the applicant and dependents.
- Approval and Investment: Upon approval, the applicant makes the required investment (NTF contribution or real estate purchase).
- Citizenship Certificate: Once the investment is confirmed, the applicant receives a citizenship certificate and can apply for a Grenadian passport.
Conclusion
The Grenada Citizenship by Investment Program in 2024 remains an attractive option for investors seeking a second citizenship, amongst other Caribbean citizenship by investment programs. A government authorized citizenship by investment agent can help you obtain this through legal and verified methods, With its strategic benefits, including visa-free travel, favorable tax regime, and access to the U.S. E-2 visa, Grenada offers a compelling proposition. Whether through a contribution to the National Transformation Fund or an investment in real estate, obtaining Grenadian citizenship is a streamlined process that provides significant global mobility and investment opportunities.
