Grenada
Citizenship by Investment
The Grenada Citizenship By Investment (CBI) program offers investors an affordable and fast option to acquire full citizenship and a passport in under 6 months. The investment requirement is either in the form of an economic contribution or a real estate investment.
There are no language tests and no physical residence requirement. The Grenada citizenship program offers an affordable and straightforward process to acquire a second citizenship and passport in the Caribbean.
The aim of the citizenship by investment (CBI) program is to generate foreign investment through capital and real estate investments and in exchange offer investors citizenship and a passport. A Grenadian citizenship offers investors visa free travel to around 130 countries, including the UK, Hong Kong, Singapore and other Commonwealth countries.
Applicants and their families are granted full citizenship in exchange for either making an economic contribution to the country or investing in an approved real estate project, as set out by the Government.
Please contact us to speak to a private client advisor: info@lio-global.com
Benefits
Visa free travel (and visa on arrival) to around 130 countries including the UK and Schengen Countries.
E-2 Visa Treaty with the USA.
Grenada is one of few countries in the world with 30 days visa free access to China
Grenadian citizenship and passport in 3-6 months - no residency period
Beautiful properties in 5 star resorts to choose from.
Grenada is a tax friendly jurisdiction.
INTERESTING INFORMATION
Also known as The Spice Isle
OFFICIAL LANGUAGE
English, French patois
MEMBERSHIP
CARICOM (Caribbean Community), OECS
CAPITAL
St George's
CURRENCY
Eastern Caribbean Dollar (EC$) – linked To USD
POPULATION
109 590 (2013 est.)
TOTAL AREA
348 km2
about grenada
Grenada is an independent Commonwealth country situated in the Caribbean and forms part of the CARICOM. The nation consists of Grenada and six smaller islands that are located at the southern end of the Grenadines, in the south-eastern Caribbean Sea.
Grenada is also known as the “Spice Island”, as the island is famous for its nutmeg and mace crops – for which it is one of the world’s largest exporters. In the 17th Century, the French settled in Grenada and established sugar estates. In the 1762 Britain took over the island country and expanded both the sugar industry as well as that of cacao. Later nutmeg became the leading export.
A beautiful Caribbean island, famous for its diving and sailing, Grenada is a popular tourist destination. With beautiful beaches and mountains for hiking, who wouldn't want to own a piece of paradise!
Investment requirements
The Grenada citizenship by investment (CBI) program requires the investor to make an economic contribution to the country as well as meet certain other requirements.
Investors (and their families) who wish to apply for Grenadian citizenship by investment must meet the following investment requirement:
1. Purchase of real estate with a minimum value of USD 350 000 in approved real estate development:
Evidence of ownership needs to be provided of a property purchased for a minimum of USD 350 000. If the applicant opts for the real estate option, they may not sell the property within a 3 year period. After this period they are free to either keep or sell the property.
This amount includes the main applicant, spouse and two dependent children or parents. An additional USD 25 000 is required per additional dependent.
2. Make a non-refundable contribution to the National Transformation Fund (NTF) of USD 200 000:
The NTF is responsible for funding Government-sponsored projects in Grenada.
This amount includes the main applicant, spouse and two dependent children or parents. An additional USD 25 000 is required per additional dependent.
Note: the Government has recently reduced the amount to USD 150 000 for a single applicant.
Property in Grenada
The properties are typically apartments or units in 5-star resorts by well-known and internationally recognized developers and hotels. Investors can earn a rental yield on their property as well as enjoy holidays in an incredibly beautiful location. Initially only a deposit is paid on application with the full amount being due only after approval of citizenship. Funds are held in escrow throughout the development process and only released to the developers of completion of specific milestones.
Kimpton Hotels' Kawan Bay Resort
USA E-2 INVESTOR TREATY
Grenada is the only country in the world that has both an active CBI Programme and a bilateral investment treaty with the USA. This allows citizens of Grenada to apply for an E-2 treaty investor visa and allows them to live and work in the USA. The E-2 Investor Visa requires the investor to make an investment in the USA that he/she must be controlling.
Investor visas are available only to citizens of countries that have the E-2 visa treaty with the USA. If granted, the visa is valid for 5 years, and can be renewed without limit, provided that the underlying investment still qualifies.
The E-2 option has become an attractive alternative for investors considering the US Eb-5 program. Please get in touch if you would like to see a comparison.
REQUIREMENTS FOR Citizenship
To qualify for citizenship, applicants must meet the following requirements:
- The main applicant is required to be over the age of 18 years’ old.
- The applicant will undergo strict due diligence and must not have a criminal record.
- Be in excellent health and have a high personal net worth.
CITIZENSHIP
Grenada allows dual citizenship. The legal framework of the economic citizenship program allows for the investor and his/her family to obtain citizenship provided they follow the specified requirements. There is no residence period, the investor acquires citizenship and his/her passport directly. The application process takes 3-6 months.
TRAVEL AND BENEFITS
A Grenadian passport allows the holder to travel to around 130 countries and spend a maximum of 90 out of every 180 days in any of the Schengen zone countries.
Some of the popular countries that the passport allows the holder visa free travel to include: UK, Schengen zone and China.
FAMILY
The investor can include his or her immediate family: spouse, dependent children under the age of 30 (provided they can be proven to be dependent), dependent parents over the age of 55, as well as grandparents.
TAX
The Caribbean is a tax friendly jurisdiction and there is no inheritance or capital gains tax. Persons who are present for more than 183 days a year will be viewed as residents of Grenada and will therefore be subject to tax.
We highly encourage clients to meet with a professional tax consultant.
FEES
In addition, the Government charges the following fees:
Government Fees
USD 50 000 - Government Fee – main applicant, spouse and up to 2 dependents.
USD 25 000 - Government Fee for a dependents over and above those included above.
Government Due Diligence Fees
USD 5000 - Main Applicant
USD 5000 - Spouse / per person
USD 5000 - dependents over 18
USD 2000 - dependents between 12 - 17
Application Fee:
USD 1 500 per person
In addition, professional fees will also be due. This will depend on the size of family and number of applicants.
Please contact us for a personalised proposal: info@lio-global.com
PROCESS AND TIMELINES
The Grenadian citizenship-by-investment program adheres to very strict regulations and guidelines. The Citizenship by Investment Committee (CBIC) is the government authority responsible for the administration of the citizenship program as well as processing all applications.
Before the submission of an application to the Government of Grenada, strict and comprehensive due diligence will be done and a medical certificate is also required to confirm that the family is in good health and not suffering from any serious or contagious illnesses.
Once all steps and requirements have been achieved and the application is approved, the applicants can receive their passports.
Our team will assist at every step of the way through the process.
Grenada Citizenship Program | Citizenship in Grenada | Grenada Passport | Grenada Citizenship by Investment Program