Grenada Citizenship by Investment Program
The citizenship by investment program in Grenada has many advantages: remote paperwork, visa-free travel to China and the EU, immigration to the US on an E-2 visa and study on preferential terms in the UK. Even hurricanes are not that bad on this island (unlike neighboring tiny states). There is no need to live and fly to this exotic country. And the tax system is considered to be one of the most loyal. More than 2,500 foreigners have already issued a Grenadian passport by investment. And every year the popularity of the program only grows.
Program's details
- $150,000 of the minimum capital to participate in the program
- Passports for the whole family including the spouse, parents and siblings
- Return on the investment in 5 years
- No requirement to live in Grenada citizenship is established remotely
- The second passport in 3-4 months without giving up the first one
- Possibility to migrate to the US via E-2 investor visa
- 0% tax on the income donations or capital gains
- 140+ countries without visa including the UK, the EU and China
The official website of the program
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About the Program
The trial launch of the program for obtaining economic citizenship of Grenada occurred in 2001, but the authorities sent the project for revision soon after that. The Program of the island state is on the market since 2013 and competes well with other offers in the Caribbean region. More than 2,500 foreigners have already been granted citizenship by investment and taken advantage of the opportunities offered by their new passport.
Some applicants are attracted by the access to an American business visa E-2 which gives you the right to work and live in the States. Others are looking into the prospect of traveling without a visa around the world. Third are hoping to reduce tax costs, since Grenada offers zero taxes on global income, capital gains abroad, gifts and inheritance. However, in this case, you must live on the island for at least 183 days a year.
The passport applicant is offered several options to choose from: you can donate to the the National Transformation Fund or invest into a government-approved real estate project. The first way is advantageous with a low entry threshold. The second is the opportunity to lease the property and receive 3-5% per annum. You can sell it after 5 years and retain citizenship.
With a Grenada passport you can travel to 140+ countries around the world without a visa, including the EU, China, Singapore, Hong Kong, and the UK. It is easier to open a business or an account in a foreign bank with Caribbean citizenship. A nice bonus of the program is that you can submit documents for a passport remotely.
The registration procedure is carried out only by an accredited agent(see the approved list) and takes from three to four (rarely six) months. There is no need to give up other passports/ Your children, grandchildren and subsequent generations retain the right to Caribbean citizenship as the investor's family.
Investment Options
- $ 150 000+
Non-refundable fee
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Make a donation to the National Transformation Fund in the amount of $150 000 per one applicant.
State fees are also paid, when including family members:
- $50 000 per a family of 2 to 4 people
- $25 000 per each subsequent family member
- $ 220 000+
Real estate investments
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Invest in government-approved development projects:
- $220 000 for collective investment (two or more applicants invest in the same project and become co-owners – since 2019)
- $350 000 for individual purchase
The property can be used independently or rented out. After 5 years of ownership, the assets can be sold.
In addition, each investor pays a state fee:
- $50 000 per a family of 1 to 4 people
- $25 000 per each subsequent family member
Donations to the National Transformation Fund is the most popular option. You don’t have to care about the situation on the realty market and the required amount is smaller. In addition, the entry threshold is formally $350,000 for individual investors, but in reality you can barely find offers cheaper than $450,000. Buying an apartment or a villa is suitable primarily for those who want to spend vacations in their residence on the island.
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For Family Members
Grenada offers an extended immigration program. Besides children and wife/husband the investor has the right to include parents, grandparents, single brothers and sisters.
A spouse
In officially certified marriage.
Children
Younger than 30 years, dependent on the investor. Children born within 12 months of receiving a Grenada passport also receive citizenship without additional fees.
Parents and grandparents
Any age.
Siblings
Childless adult siblings of the investor and his/her spouse, if they are financially dependant on the investor and aren't married.
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Requirements for Applicants
There are no language, historical or cultural knowledge requirements to participate in the program. You don't even need to pass a consular interview. The most important thing is to be a law-abiding and trustworthy citizen with legal savings.
Requirements for the main applicant
- older than 18 years of age
- no criminal record
- passed the preliminary verification by the agent for reliability
- confirmed origins of the finance
- good health (does not suffer from HIV and other dangerous diseases for society)
- there are no violations of visa regimes in the EU, British Commonwealth, Canada, USA
The authorities of the Caribbean state can refuse a passport if false information is provided, as well as if the investor poses a threat to the national security of Grenada or any other country.
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Documents
All documents are submitted with an English translation and apostille stamp.
Personal documents
- a copy of the foreign passport and ID
- certificate of no criminal record
- health certificate (absence of HIV and other dangerous infectious diseases)
- application form completed in accordance with the other documents
- birth / adoption certificate, marriage certificate
- 12 color photos of each applicant
- document confirming the permanent residence address — for example, a receipt for housing and utilities or a copy of the housing lease agreement (only for the main applicant)
- documents of higher education and work experience (applies only to the investor and his / her spouse)
- recommendation letters in English
Investment confirmation
- documents to confirm the legal origin of funds
- the bank statement
- purchase and sale agreement (in the case of real estate investments)
Expenses
- Verification of trustworthiness
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The fee for all applicants over the age of 17 is $5,000 per a person, and $2,000 per a child.
- Administrative fee
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Registration of the application: for all applicants over the age of 17 —$1,500 per person, for a child — $500
The fee for forms and processing of documents is $1,270 per person.
Opening an escrow account — $2,000.
- Lawyer's fee
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The fee of an accredited agent for supporting the procedure of obtaining citizenship is $15,000-50 000, depending on the family composition and the prices of a particular company.
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Rights and Obligations
Foreigners with investment citizenship have the same rights as any other resident of Grenada. The investor and his/her family also have all rights related to Grenada's membership in the Caribbean community (CARICOM).
- Live, work and start a business in Grenada and the CARICOM member countries.
- The right to travel without a visa to 140+ countries, including the EU, China, Singapore, Hong Kong, and the UK.
- The right to live in Grenada without time restrictions. There are no requirements for a minimum stay in the country.
- The right to quickly (within 60 days) get a visa to the United States under the e-2 program (Treaty Investor Visa) for 10 years with the right to live, study and work in the States. This option is only available to countries that have signed a bilateral agreement with America.
- The obligation to pay taxes regularly if you spend more than 183 days a year in Grenada. There are no requirements for mandatory change of tax residence to a Grenadian one.
- Obligation to maintain the real estate investment for 5 years.
- Free school tuition for children, grants and discounts at universities in Grenada and the United Kingdom due to the fact that Grenada is a member of the British Commonwealth.
- The right to citizenship in other countries.
- The right to transfer citizenship by inheritance.
- The right to issue a local driver's license.
The procedure for obtaining
