Calculating the cost of Grenada citizenship can be a bit tricky. To get it right, consideration must be given to several variables. For starters, cost depends heavily on the investment option selected by an applicant. In this blog we will focus on calculating the cost for the National Transformation Fund – the more affordable of Grenada’s two options.
Investing in the National Transformation Fund starts at $150,000 for individuals applying alone, whether married or otherwise. This price increases to $200,000 if one to three individuals join the main applicant on the application. If other dependants are added to such a family of four scenario, each dependant will incur an additional cost of $25,000 – unless the individual in question is considered a special dependant.
Special dependants are those for whom an individual investment cost of either $50,000 or $75,000 is charged. These dependants incur this charge irrespective of whether they are added to a family of four scenario or are included in a family of four scenario. Special dependants are siblings, who are 18 years or older, unmarried, and without children. Parents and grandparents who are age 55 or younger are also considered special dependants. The former carries a charge of $75,000 each, while the latter – parents/grandparents – carries the charge of $50,000 each.
In addition to investment charges, applicants to Grenada’s Citizenship by Investment Programme must also concern themselves with a schedule of fees. Everyone on an application is required to pay an application, processing, and passport fee. For individuals 17 years or older, due diligence fees are charged as Grenada will conduct background checks in every country those individuals have lived in for one year or more in the last ten years. For those 18 years or older, the oath of allegiance must be taken. This too comes at a cost.
Equally important, but often overlooked, is the fact that application, processing, and due diligence fees are levied on sponsors, who pay for applications on behalf of applicants, as well as spouses, who are not included on applications. This ensues as these individuals will also be processed and checked by due diligence officials, when considering the citizenship application of their loved ones or associates.
This video: “How to calculate the cost of Grenada citizenship: NTF option,” helps to deconstruct the science behind the pricing of Grenada’s National Transformation Fund option. It is a good guide for those actively considering investing in a second citizenship from Grenada.