CITIZENSHIP BY INVESTMENT
Citizenship by Investment allows families to quickly achieve citizenship from an alternative country by investing in the economy of that country. Obtaining alternative citizenship allows individuals to hedge against future uncertainties at home as well as increase their global footprint. In Grenada, the process is seamless and occurs remotely for applicants – ultimately rewarding them with another country to live, work, retire, and seek refuge, if they so desire.
To become a citizen of Grenada, through Citizenship by Investment, a main applicant must be 18 years or older, in good health, and must not have served a sentence of over six months for a crime that carries a maximum penalty of six months in Grenada. Applications are welcomed from all nationalities, excluding Russians, Belarusians, and Iranians. They can include a spouse, children under the age of 30, parents/grandparents of any age, and unmarried, childless siblings that are 18 years or older.
SELECTING A CITIZENSHIP OPTION
Two popular investment options are available in Grenada’s Citizenship by Investment Programme. An applicant can contribute to a government fund or invest in a government-approved real estate project. Though yields differ based on the investment option, both options require similar paperwork, maintain the same processing time, and provide the same type of citizenship. Deciding between the two options ultimately depends on the risk appetite, goals, and budget of applicants.
| National Transformation Fund | Approved Real Estate | |
|---|---|---|
| Cost | $235,000 and up | $270,000 and up |
| Process time | 5-6 months (average) | 5-6 months (average) |
| Ability to add dependants | Yes | Yes |
| Ability to add siblings | Yes | Yes |
| Lifetime citizenship | Yes | Yes |
| Residency requirement | No | No |
| Tax ID with purchase | No | Possible depending on ownership |
| Residence Address | No | Possible depending on Unit |
| Generates an annual return | No | Yes |
| Recoverable | No | Possible after five years |
Cost and fees
The cost of obtaining citizenship in Grenada through the Citizenship by Investment Programme depends on several variables. The type of investment option selected, as well as the type of dependants included on an application, and their ages, all heavily influence the out-of-pocket expense for applicants. Additionally, applicants can expect to pay bank charges, as well as professional and courier fees.
| NTF |  |
 |
|---|---|---|
| Contribution | $235,000 | $235,000 |
| Due diligence | $6,000 | $6,000 – each person 17 years and older (includes interview fee) |
| Application fee | $1,500 | $1,500 |
| Processing fee | $1,500 | $1,500 – each person 18 years and older $500 – each person under age 18 |
| Dependants added to a family of 4 | ||
| – Children | N/A | $25,000 each |
| – Parent/Grandparent over age 55 | N/A | $25,000 each |
| – Parent/Grandparent 55 and under | N/A | $50,000 each |
| – Sibling | N/A | $75,000 each |
| Passport fee | $250 | $250 each |
| Approved Real Estate | |
|
|---|---|---|
| Investment | $270,000 | $270,000 |
| Government Fee | $50,000 | $50,000 |
| Due diligence | $6,000 | $6,000 – each person 17 years and older (includes interview fee) |
| Application Fee | $1,500 | $1,500 each |
| Processing Fee | $1,500 | $1,500 – each person 18 years and older $500 – each person under age 18 |
| Dependants added to a family of 4 | ||
| – Children | N/A | $25,000 each |
| – Parent/Grandparent over age 55 | N/A | $25,000 each |
| – Parent/Grandparent 55 and under | N/A | $50,000 each |
| – Sibling | N/A | $75,000 each |
| Passport fee | $250 | $250 each |
APPLICATION PROCESS
Becoming a citizen of Grenada through its Citizenship by Investment Programme is a quick process that lasts between five and six months. During this time, applicants are free to continue living their lives uninterrupted.
The application process for Grenada citizenship includes eight essential steps, which applicants must follow to ensure the successful completion of their applications.
1.
Select investment option; compile and review documents
2.
Submit file to the Bank for applicant Clearance
3.
Pay Government fees and local agent fees4.
Submit file to the citizenship by investment Unit5.
Processing of Application
Processing of Application6.
Conditional Approval receipt
7.
Complete investment Payment
Complete investment Payment
8.
Prepration of Certification of Registration and passport
Prepration of Certification of Registration and passport
* All applications are first vetted by the receiving bank in Grenada. Only applications that are cleared by the bank will be accepted by the Grenada Citizenship by Investment Unit and processed for citizenship.