Grenada
(Citizenship By Investment)
Grenada
Grenada is a Caribbean paradise island located in the southeast corner of the Caribbean Sea. Grenada, known as the “Isle of Spice” because of its extensive spice production, is one of the most beautiful islands in the West Indies. It is engulfed in unadulterated, unbridled beauty. Tourists and expats alike flock to this island for its beautiful beaches, breathtaking waterfalls, and lush tropical greenery.
Grenada’s political system is based on parliamentary representative democracy, and Queen Elizabeth II serves as the country’s head of state. It is also a Commonwealth of Nations and Caribbean Community member country (CARICOM).
Tourism has become a major sector in recent years, as it has throughout the rest of the Caribbean. Grenada’s tourism industry is particularly strong, given the island’s natural beauty.
Grenada was a French colony for 114 years before becoming a British colony for 211 years before gaining independence in 1974. As a result, today’s Grenadian culture is a unique blend of British, French, African, and West Indian elements. As a result, in 2013, the country welcomed foreign investors and began offering a unique Grenada Citizenship by Investment Programme. Get in contact with Citizenship Bay’s team of consultants right away if you want to optimize the benefits of obtaining a Grenada Passport by Investment.
Grenada Citizenship Program & Benefits
The Citizenship by Investment Program in Grenada was established in 2013 in accordance with Act No. 15 of 2013, known as the Grenada Citizenship by Investment Act. The act constitutes that qualified persons can acquire Grenadian citizenship by registration following a financial investment in Grenada. Investment criteria were set as part of this Citizenship by Investment Act.
Â
Citizenship is granted to qualified applicants within 3 to 4 months with no residency requirements which makes it one of the fastest citizenship programs in the world. Once the applicant is granted citizenship, s/he becomes a citizen for life.
Â
Requirements
Â
To qualify for Grenadian citizenship, applicants need to undergo a strict due diligence process, in addition to making a financial contribution via one of the two following channels:
Â
- Non-refundable contribution to the National Transformation Fund (NTF)
- Purchase of real estate in a government approved project AND payment of applicable government fees
Grenada Investment Options
Option 1
National Transformation Fund (NTF)Â
The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent. The NTF finances various projects in Grenada for the benefits of its many industries, including tourism, agriculture, and alternative energy. Having made a donation to the NTF, investors are left with a true sense of having contributed to their new nation’s wellbeing.
- Single Applicant: USD 150,000
- Primary Applicant and Spouse: USD 200,000
- Family till 4 members (PA+Spouse+Dependents): USD 200,000
- Family over 4 members:Â USD 20,000 plus USD 25,000 per additional dependent after the third dependent.
In addition to the donation, separate Processing Fees, Due Diligence & Legal Fees will apply.
Â
Option 2
Real Estate
One of the options available to applicants seeking to obtain citizenship by investment in Grenada is to invest in a government-approved project and apply for Grenada citizenship by investment via real estate. Currently, these projects encompass real estate developments such as hotels, villas, and resorts. Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns.
Applicants opting for the approved project (real estate) route must invest at least USD 220,000. They must keep the real estate for at least five (5) years following the grant of citizenship. There is another option under real estate which has the minimum investment of at least USD 350,000.
In addition to the donation, separate Processing Fees, Due Diligence & Legal Fees will apply.
Grenada Visa Free Countries and Power Rank
Mobility Score- 126
Visa-Free- 88
Visa on Arrival- 36
ETA- 2
Visa Required- 72
Passport Power Rank- 29
World Reach- 63%
Population- 112,523