Citizenship by Investment Programme in Grenada
Grenada is a beautiful country consisting of seven islands in the Caribbean, of which it is the largest. Famous for its post-card natural beauty, pristine beaches, breathtaking waterfalls and tropical landscapes – it’s no surprise, tourism takes pride of the place among the country’s top industries.
A peaceful and politically stable state, Grenada is home to thousands of expatriates and second passport holders. It attracts a large number of High Net Worth Individuals (HNWI) due to its excellent financial system with many international banks. Grenada is also home to a number of top international universities.
Grenada’s Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act.
Grenada is located in the Caribbean Sea, towards the southern end of the Grenadines island chain. The West Indies sovereign state consists of Grenada and six smaller islands to the north of the main island.
Grenada is renowned for its production of nutmeg and mace crops. The country is known as the “Island of Spice” due to large amounts of spice that it exports.
The Caribbean island has no shortage of unspoilt white-sand beaches and luxurious beachfront resorts.
Obtaining a Grenada passport stands amongst one of the most hassle-free avenues for anyone looking to explore citizenship by investment programmes. There are many advantages to this option; but first, let’s explore some facts on the country itself.
Grenada has a population of about 111,454 over an area of 348 km2. The density of Grenada is 319 people per km2.
Like all of the Organisation of Eastern Caribbean States (OECS), Grenada’s currency is the Eastern Caribbean Dollar (XCD). The island’s current is set at a fixed rate to the USD = 2.7 XCD.
The capital of Grenada is St George’s, it is also the islands biggest city, with an estimated population of 34,000.
English is the country’s official language. Grenadian Creole English and Grenadian Creole French are also spoken on the island.
Grenada has a tropical climate, meaning it is hot throughout the year. The average annual temperatures are usually around 28°C.
The GDP of Grenada represents less than 0.01% of the total world economy and is worth $1.21 billion.
How to Obtain Grenadian Citizenship
Becoming a citizen of Grenada means that you can enjoy all the rights and privileges of citizenship of a Commonwealth country in the UK and other Commonwealth countries.
Grenada’s passport gives you access to more than 140 countries around the world, among them the UK and the Schengen countries. It is the only programme in the Caribbean that allows entry into China without the need for a visa.
The Grenadian passport enables you to obtain an E-2 visa that gives you the opportunity to enter, live and work in the United States of America. Approval is possible in less than 4 months with remote application, so there is no need to travel to Grenada.
Donation of a minimum of $150,000 to the National Transformation Fund (NTF), or $200,000 for a family of up to four members. An extra donation of $25,000 is required for each additional dependent.
Investing in real estate
Independent investment in a government approved real estate project at a minimum value of $220,000 which must be held onto for a minimum of five years.
Benefits of citizenship in Grenada
Economically, legally and socially stable country which is part of the Commonwealth realm, with a democracy based on the British parliamentary system.
Grenada is the only Caribbean country that has a treaty with the USA. By obtaining a local passport, you are eligible for the US E2 non-immigrant visa, plus visa-free travel to China.
No travel requirements
As beautiful as it is, there is no need to travel to Grenada to obtain citizenship. The whole application, from beginning to end, can be done remotely.
A Grenada passport by Investment Programme allows you to travel to 142 countries visa-free. This includes the UK, all of Europe, Hong Kong, and Singapore.
Once citizenship is granted, it is irrevocable and can be passed down for generations.
Grenada offers a very favourable tax regime. By obtaining a Grenada passport and gaining citizenship, you will not pay capital gains, no inheritance tax, net wealth/net worth tax.
Taxation in Grenada
Grenadian residents enjoy various tax benefits such as no capital gains, inheritance tax, income tax or wealth tax on worldwide income or assets. The Individual Income Tax Rate is10% on the first XCD 24,000 and 28% on income exceeding that amount.
Download our guide to learn the full tax advantages to citizenship in Grenada.
Grenada Citizenship Application Process
The application process is overseen by The Grenada Citizenship by Investment Committee (CBIC). The CBIC assesses each application in accordance with the Grenada Citizenship by Investment Act, 2013. It then makes recommendations to the Minister, who has the final say on whether to approve, deny, or delay the granting of Grenadian citizenship.
Months 1 – 2Initial client due diligence takes place. Application is prepared and submitted
Months 2 – 4Application is reviewed and investment or donation is completed
Month 4Certificate of citizenship and passport are issued