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Program overview – Citizenship by investment program in Grenada was launched in 2013 and by the example of whole Caribbean islands and announced two investment (contribution and real estate) options in exchange of citizenship. Grenadian passport holder is entitled for visa-free travel to more than 135 countries, including UK, EU and Schengen area, Hong Kong, Singapore and China. Besides, Grenada is the only one Caribbean island, offering possibility to acquire the US visa E2. It does not require residing in the country or physically attend an interview regarding citizenship. Real estate project allows partnership or sole purchases on condition that each investor will pay minimum required amount of money. Refunding entire sum with profit opportunities appears after 4-year mandatory holding period. Each investor is entitled for retaining and subletting property for tenants, therefore it might be kept as profitable investment. National Transformation Fund was established in 2013 by the Government of Grenada. The NTF finances various projects such as tourism, agriculture and alternative energy. Charitable non-refundable donations improve nation’s well-being and transform economy into more prosperous and independent. Passport validity for both adults and under aged dependants is 5 years. Second citizenship is allowed so new passport holders are not obliged withdrawing any other nationalities they hold. Requirements – Citizenship by investment program requires main applicant to be at least 18 years old. Having a clean criminal record, good health and successful outcome of due diligence is a must for each applicant of 12 years old and over.
Family – As part of this program every applicant is entitled to include their spouse, children under 18, children between 18 and 25 years who are enrolled in the higher education institution and fully dependent on the main applicant and parents. Physically or mentally challenged parents or children regardless their age might be included as well.
Living, Working, Studying and Traveling – Once citizenship is obtained investors and their families are free to live, work and study in Caribbean, as well as travel to more than 135 visa-free countries including UK, EU and Schengen area, Singapore, Hong Kong, China and more.
Real Estate Investment – qualifying investment level applying through real estate program is $ 350 000, whereas government fee of $ 50 000 per family is applied. Each property must be approved and confirmed by Grenadian government before purchasing. Island currently has 12 pre-approved areas and projects such as Mount Cinamon, Levera, La Pointe, True Blue, Mariposa, Silver Sands and others. Investors may choose from casual one-bed cottages and apartments to luxurious Villas with partial or full ownership.
Contribution – Program requires Investor alone paying significant, non-refundable, charitable contribution of $200 000 to the Economic Development Fund, established by Grenada Government. Despite the chosen option extra fees of application ($ 1 500/applicant), due diligence ($ 5 000/adult applicant, $ 2 000/underaged applicant), processing ($ 1 500/adult applicant, $ 500/underaged applicant) and $ passport ($ 250/applicant) are applied. In case of family application, contribution or government fee (under NTF or real estate option accordingly) increases depending on final number of members as 25 000 USD are requested per applicant over 4 members. Application, due diligence and processing fees are mandatory for non-applicant spouses.
Levera Beach Resort Cottage
Levera Beach Resort located on the northeast coast with the access to 2 private islands. Levera contains a spectacular white-sand beaches, featured with palm trees and natural topography reaching elevations of 800 feet. Resort offers an 80-unit Boutique Hotel units, 20 Casitas and Villas, pools, SPA, Organic Orchard and 40 Hotel Cottages having stunning ocean and garden views. 1 bedroom cottage of 1 400 square feet contains 2 bathrooms, kitchenette, dining area, living room and it is half a minute away from the white-sand beach. Private pool comes with additional costs. 2-bedroom cottages are also available. Minimum investment level is 350 000 USD.
Mount Cinnamon Beach Resort Villas
Mount Cinnamon Boutique Beach Resort is situated on a lush Hill side on the south part of Grenada in a 2 miles distance from the white-sand Grand Anse Beach, recognized as one of the most beautiful beaches in the world. Luxury villas and hacienda suites are surounded by tropical gardens with the view over turquose waters and powder white sands. Resort is currently being expanded through Citizenship by Investment program, with a project of 250 rooms to be built over the next 2 – 3 years. Fractional ownership investment, buying company shares starts at 350 000 USD.
*Real estate might be sold after 4-year period. **Contribution amount varies depending on number of dependants.
Taxes – The Island has no taxes on international revenue, wealth or inheritance. Non-residents are only taxed on income from or sourced in Grenada. Only in case of real estate option property registration fees and taxes may be required.
Step 1 (3 – 5 days) Pre-due diligence allows avoiding possible issues and assure eligibility. It also allows for ineligible applicants to save unnecessary costs, time and eﬀort.
Step 1 requires:
- Contract form (fill and sign)
- Passport copies (including dependants)
- Residential address
- Full information about dependants
- Full details on profession or business
- Origin of finances
- Banking details (name, address, SWIFT/BIC code, IBAN No, account number
In cases of questionable pre-due diligence outcomes, enhanced background checks may be required, including possible cooperation with the relevant authorities. 50% agent fee applied.
Step 2 (1 month) Collection and preparation of documentation usually takes approximately 1 month to prepare all documents which must be translated to English and certified. Investment agreement into real estate or National Transformation Fund must be signed. Required amount by the chosen option and associated fees must be paid in full before application.
Step 2 requires:
- Application package forms (provided)
- 10 colored, recent passport-size photos
- Color copy of all passports possessed (all pages)
- Color copy of all current national ID cards
- Certified copy of marriage and divorce certificates (if applicable)
- Resume/CV along with the education and Employment history. Applicants must disclose all business affiliations.
- Recent evidence of residential address
- No criminal record certificate for each applicant over 15 from all countries of residence (issued within 6 months)
- Affidavit to support each adult dependant
- Certified college/university transcripts for adult children up to 26 (if applicable)
- Professional/character reference letter issued within 6 month by professional, bank or firm (addressed to chief executive officer, Grenada Citizenship by Investment, P. O. BOX 298, Burns Point, The Carenage, St. George’s, Grenada, W. I.)
- Original Bank Reference (requirements as for professional reference apply)
- HIV test results
- Original or certified Birth Certificate or Adoption Records (in case of children)
Step 3 (1 day) Our legal representative provides all necessary documents to the Citizenship by Investment committee and accomplishes citizenship application on client’s behalf. Physical presence of applicant is not required. 50% balance of agent fee is required at this step. Applying under contribution option, at this step legal representative applies for the permanent residency card and citizenship on client’s behalf at once.
Step 4 (2 – 3 months) Application processing takes up to 3 months, after which Citizenship by Investment committee (CBI) shall notify with decision to approve, delay or deny it. In case of success approval in principal is issued. On request to attend interview – applicant will be notified.
Step 5 (1 – 2 weeks) Once Certificate of Naturalization is issued, our lawyer submits it on clients behalf to receive passport, which afterwards is collected and sent by reputable courier. Passport fee of 275 USD/per person is required.
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GDP World Rank
KEY PROGRAM BENEFITS
- Passport within 3 – 4 months
- Visa free travels to over 135 countries
- Application is submitted on clients behalf
- No tax on worldwide income
- Possibility to acquire US visa E2
GROUNDS FOR REFUSAL
- False information provided
- Criminal record
- Potential security threat to the country
- Family member suffers from serious health problem or contagious disease
- Denied visa to any country having visa-free agreement with Grenada