economic citizenship

Economic Citizenship

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Our team of professionals helps qualified individuals and families worldwide obtain second citizenship through reputable economic citizenship programs.

Grenada Economic Citizenship Program

Established in 2013, the Grenada Economic Citizenship Program is one of the fastest and most efficient citizenship by investment programs in the world. Qualified individuals and families can obtain a powerful second passport in Grenada in only 2-3 months by making an approved property investment of at least $350,000 USD or a financial contribution to a Government fund of at least $200,000 USD. There are no language, management experience, or educational requisites, and candidates are never required to visit the islands as part of the application process. There is also no residency requirement to retain Grenada nationality, unlike some other economic citizenship programs in the Caribbean.

Grenada passport holders enjoy visa-free or visa-on-arrival access to 124 countries including the entire European Union, UK, Switzerland, Brazil, Singapore, and Hong Kong. If you are interested in doing business in the two largest economies on earth, the international mobility provided by second citizenship in Grenada could make it the ideal citizenship through investment jurisdiction for you. Grenada is the only economic citizenship country with an E-2 Visa Treaty with the United States, allowing citizens to effectively operate an American business. Grenada is also the only investor citizenship country with a passport that provides visa-free access to mainland China.

Economic Citizenship Grenada 2018

In addition to making a qualifying property investment of USD $350,000 or more, candidates for Grenada citizenship by investment in real estate must pay a Government fee. In order to maintain citizenship in Grenada, investors must retain ownership of the property for at least three years.

Government fees (real estate option only):
Solo applicant - $50,000
Main applicant and spouse - $50,000
Main applicant, spouse, and up to 2 children - $50,000
Additional dependents - $25,000 each

Candidates that make a monetary donation to the Grenada National Transformation Fund (NTF) are not required to pay a Government fee. Under the fund donation option, a single applicant, main applicant and a spouse, or a family of up to four can qualify for Grenada economic citizenship with a one-time contribution of USD $200,000. For larger families, an extra fund contribution of $25,000 must be made for each additional dependent beginning after the third. The NTF is designed to help strengthen and diversify the Grenadian economy by financing strategic local infrastructure projects.

Investor citizenship in the country is administered by a governing body called the Grenada Citizenship by Investment Committee (CBIC). The ten person team answers directly to the nation's Prime Minister and individually assesses the merits of each and every investment citizenship application. To cover the costs incurred by this team of experienced legal and financial professionals, as well as the program's official agents and partners, all Grenada Economic Citizenship Program participants must pay the following fees.

Government application fees:
All applicants - $1,500 per person

Government due diligence fees:
Main applicant - $5,000
Spouse - $5,000
Children <12 - Free
Children 12 to 17 - $2,000 each
Children 18 to 25 - $5,000 each
Dependent parents & grandparents - $5,000 each

Government processing fees:
Main applicant - $1,500
Spouse - $1,500
Minor children - $500 each
Children 18 to 25 - $1,500 each
Dependent parents & grandparents - $1,500 each

Local agent fees:
Main applicant - $10,000
Spouse - $1,000
Dependents - $1,000 each

Additional fees:
Passport fee - $250 per person

Want to learn more about Grenada economic citizenship? Phone our team today for a confidential consultation.

Grenada economic citizenship

About Grenada

Grenada is one of the last truly Caribbean islands in the southeastern Caribbean Sea, and its beauty and charm will leave an indelible mark on your mind and soul. You will find pristine white-sand beaches and warm crystal waters to ease away the stress of everyday life. The swaying palms and steel drums will soothe you, and the magnificent views around the island will leave in in breathless awes. Grenada is a paradise island with lush cascading landscapes and historical interests to keep you entertained and delighted. The island is also referred to as "The Spice Isle," thanks to the tastes of its local cuisine. The sweet aromas of cinnamon, nutmeg, and rum will follow you throughout your visit, and even the crisp, cool winds that circle the island do not diminish the aroma of the island food.

Grenada is a Caribbean nation of three islands, including Grenada Island, Carriacou, and Petite Martinique. Grenada Island is the largest of the three islands, but a total of approximately 110,000 people inhabit the islands, including the 6,500 individuals on the two smaller islands. The vast majority of the population is of African descent, but you can find East-Indian and European descendants as well. English is the primary language of the island, although it is not uncommon to find Creole dialects spoken by many of the nation's people. The people are welcoming to visitors, and their hospitality makes Grenada an ideal holiday destination. The country is part of the Commonwealth of Nations, and the local currency is tied to the US Dollar.

One of the best parts about the island is that it is located on the southern extreme of the hurricane belt, which means it escapes most of the seasonal weather that causes gray skies, colder temperatures, and hurricanes. In fact, Grenada has only suffered three hurricanes in the last 50 years, which has contributed to its reputation as an ideal place to visit or reside. Even better, the average temperature typically ranges from 25 to 30 Celsius. The island owes its great weather to the trade winds that gently cool the islands throughout the dry season from October to March.

The islands' terrain only lends to its charm, and it is some of the most diverse in the Caribbean. Grenada features crater lakes, verdant rainforests, sun-kissed beaches, and unspoiled underwater ecosystems. Parts of Grenada Island are preserved as national parks or wildlife sanctuaries, which offer nature trails across the terrain. Visitors and locals can walk the trail and see the views of the magnificent coastlines.

Grenada is not without its historic charms, as well. St. George's, the capital of the island, has pastel buildings and red-tiled roofs that speak to the city's strong Caribbean identity. St George's also has historic English and French architecture which speaks to the European influence around the islands. Within the city limits, a garrison by the name of Fort George is open to the public for tours. It has been standing for more than 300 years. In addition, the city has a long tradition of a Saturday morning market that offers locals and tourists a chance to explore and purchase local produce, spices, and crafts. Another point of interest in Grenada is the 300-year-old Belmont Estate. It gives visitors a look at life on a traditional West-Indies plantation, and it doubles as a link to Grenada's past. The estate is also a processing ground for popular spices that the locals still sell. It is truly a one-of-a-kind country, and for international businessmen and businesswomen who are interested in a powerful second passport, the Grenada Economic Citizenship Program is one of the best.

Economic Citizenship Grenada Requirements

There are several conditions that must be met in order for an individual or family to be eligible for citizenship by investment in Grenada. Applicants who are not approved for economic citizenship in Grenada are not required to make the full investment (funds in escrow are returned to the applicant). In general, if you meet the following qualifications, you are likely to be approved for Grenada investor citizenship.

Grenada Economic Citizenship Program Requirements:

  • Main applicant must be at least 18 years old and in good health
  • Principal applicant must make one of two mandatory investments in the country using legally-obtained funds:
    • Property: invest a minimum of $350,000 USD in a Government-approved real estate project, and the unit must be held for a minimum of three years
    • Government Fund: invest at least $200,000 USD in the Grenada NTF to help finance various infrastructure and social projects to benefit the country and its citizens
  • Children must be under the age of 18 and unmarried, full-time students age 18 to 25 who are dependent on their parents, or over 18 and living with the main applicant due to health issues
  • Parents and grandparents of the principal applicant or his or her spouse may qualify as dependents if they are over the age of 65, live with the applicant, and can prove financial dependency on the applicant
  • Applicants will need to complete a Due Diligence exam
  • Applicants must have a clean criminal record. Anyone that is considered a possible security risk, involved in unsavory activity that could bring disrepute to the country, or the subject of a criminal investigation will not be approved for citizenship in Grenada.
  • Applicants must complete a medical examination (including children)

Grenada Citizenship by Investment Program Highlights

There are a number of advantages to obtaining economic citizenship in Grenada.

Benefits of Grenada Economic Citizenship:

  • The program is entrenched in law and fully supported by the Government of Grenada
  • Grenada allows for dual citizenship and does not require successful applicants to renounce their other citizenship(s)
  • The program allows you to invest in real estate (recoverable investment)
  • Grenada charges no tax on foreign income or capital gains and has no inheritance or wealth tax
  • You do not have to travel to Grenada to apply for citizenship or collect your passport
  • The application process is completely confidential, with no exchange or disclosure of information with other governments or bodies outside of the Due Diligence process
  • You do not have to live on the islands to qualify for or retain citizenship in Grenada
  • Your family can also become Grenada citizens, including your spouse, dependent parents, and dependent children under the age of 25
  • Once approved, the citizenship status for you and your family is irrevocable for a lifetime
  • A Grenada passport allows you to travel to the Schengen area of the European Union without a Schengen Visa
  • Grenadian passports are valid for five years, and can easily be renewed thereafter
  • Grenada is the only citizenship by investment country that has an E-2 visa treaty with the United States, allowing citizens to open a business in the US in a fast and efficient manner

Grenada Economic Citizenship Program Application Process

The process of applying for citizenship through investment in Grenada is not difficult, but the Government of Grenada has high standards and incomplete applications, or those that contain errors or mistakes, will not be approved. The best way to avoid your application being denied is to understand the application process and work with an experienced professional to ensure that you correctly follow it. A qualified immigration attorney can help you obtain second citizenship on the islands by ensuring you provide all forms and documents required by the Grenada Citizenship by Investment Committee (CBIC) in a timely and accurate manner.

Economic Citizenship Grenada Application Process:

  • Work with immigration lawyer to obtain required documentation
  • Provide paperwork to attorney who will review it for compliance
  • If any documents are not in English, lawyer can help arrange for them to be translated by a certified translator
  • Work with lawyer to complete Grenada citizenship application forms
  • Sign completed forms and necessary documentation
  • Review finished application
  • Attorney will compile the final application and review it for accuracy and completeness to expedite Government processing
  • Transfer investment funds to appropriate escrow account
  • After reviewing the application, a licensed agent of the Grenada Citizenship Program will submit your application to an oversight committee who then reviews each application
  • Grenada’s Citizenship by Investment Committee (CBIC) conducts a thorough due diligence review. This extensive due diligence background check allows the Government to vet applicants by examing and verifying their submitted information
  • Grenada economic citizenship committee will issue a letter to Authorised Local Agent notifying the applicant of its decision within 60 days of receiving the application
  • Once Grenada economic citizenship application is approved, the investment funds in escrow must be executed to the approved development or Government fund
  • After the funds are executed, a Certificate of Naturalization is issued, which completes the investment citizenship process
  • After receiving certificate of registration, investor and family swears an Oath of Allegiance. This can be sworn in Grenada, or an embassy or consular office if the investor is abroad
  • Once the oath is sworn, the investor can submit a passport application to the Grenada Immigration Department
  • Grenada passports can be mailed worldwide

Please note: Grenada citizenship applicants may not contact Authorised Local Agents of the program directly. The first step towards attaining investment citizenship in the country should be containing an Authorised International Marketing Agent.

Option #1 - Grenada Real Estate Investment

Many people choose to obtain economic citizenship in Grenada by making an investment in Government-approved real estate on the islands. The biggest benefit to the Grenada Citizenship Program real estate option is that a significant amount of the investment can be recovered three years later. The $350,000 USD minimum required real estate investment is lower than most economic citizenship countries, and many other jurisdictions require investors to maintain ownership of their property for longer than three years. For example: the Antiguan Citizenship Program requires investors not to sell their real estate for at least five years. The Government fee that real estate investors must pay to apply for citizenship in Grenada is also very reasonable, especially for families.

Approved Real Estate Projects

There are a variety of real estate projects officially approved for sale under the Grenada Citizenship Investment Program. In general, property developers will require a 10% deposit from citizenship by investment applicants before they will provide a sale and purchase agreement. If your Grenada citizenship by investment application is not approved for any reason, however, you will no longer be obligated to complete the transaction.

Grenada Resort Complex - a $2 billion hotel and resort project located near St. George's that includes a waterpark, casino, retail village, and a marina. The scale of the development is unprecedented in Grenada, and the resort will even include a hospital designed to attract medical tourists.

Hideaway True Blue - a condo building development in True Blue that offers investors a "Guaranteed Buy Back" as well as quarterly returns after the second year of operation. The project is located near the St. George’s University and is targeting students as prospective tenants as well as their visiting family members for short-term rentals.

Kimpton Kawana Bay - a luxury beachfront resort that will be operated by a leading boutique hotel operator. The project includes a fitness center, spa, lounge, beach bar, water sports facilities, infinity edge pool, and a high-end restaurant.

La Pointe Villa - an exclusive 5-star oceanfront boutique hotel and spa project located on 30 acres of rainforest with a pristine white sandy beach. The project offers freehold properties for sale, and owners will receive 50% of the net revenues generated by their villa (minus associated costs).

Levera Nature & Beach Resort - a four-phase environmentally responsible project set on a 375-acre plot of oceanview land that will feature luxury homes, villas, cottages, and a boutique hotel.

Mariposa Residence - a development in Morne Rouge Bay offering one bedroom, two bedroom, and three bedroom apartments with magnificent views of the ocean.

Mount Cinnamon - a resort hotel with a spa, full-service restaurant, beach club, business center, and bar situated on the white-sand Grand Anse Beach. The resort is already operational, but 250 additional residences are being added under the Grenada Economic Citizenship Program.

Port Louis - a lifestyle resort overlooking the country's beautiful capital city. The project will contain spacious villas, retail shops, a yacht club, luxurious hotels and expansive apartments.

Silversands - an oceanview real estate development containing a hotel, private villas, spa, and a massive 100-metre pool.

The Point at Petite Calivigny - an upscale 100 room resort being developed by C&C Grenadines, a tremendously experienced property developer that has successfully completed projects in Europe and the United States. The resort will include condominiums, bungalows, suites and luxury villas and was designed to provide clients with a world-class vacation experience.

The Sanctuary at Fiji Beach - a fully gated residential resort in an incredibly serene environment with spectacular amenities, also being developed by C&C Grenadines. The project is located at L'Esterre Carriacou, one of the country's most picturesque and least developed islands.

Want to learn more about the many real estate projects that have been approved for sale under the Grenada Citizenship Program? Contact our team today for a private consultation.

Option #2 - Government Fund Donation

Instead of making a real estate purchase, foreign investors can qualify for second citizenship in Grenada by making a charitable donation of at least $200,000 USD to the National Transformation Fund (NTF). The major advantage of this route compared to buying real estate is that it requires a person to invest significantly less money. If you include the additional Government fee, qualifying for citizenship in Grenada through a real estate investment requires approximately twice as much cash as the fund donation option. Depending on your personal financial situation, freeing up a substantial amount of wealth and moving it to Grenada for several years may not be an optimal move. Although the final cost of Grenada citizenship will typically be far less under the real estate investment option (assuming you will eventually decide to sell your property), the opportunity cost of the additional funds needed could negate much of the savings for some business professionals.

Required Documentation

As one of the most reputable economic citizenship programs in the world, the volume of paperwork that must be included in a Grenadian citizenship application is extensive. Keep in mind that none of the documents submitted to the Government of Grenada can be older than six months, including notary signatures. Grenada Economic Citizenship Program forms can either be typed or hand written in block letters with blue or black ink. All photocopies must be notarized with a statement declaring it is a true copy, and all forms must be submitted in English or accompanied by an authenticated English translation. We have provided an extensive list of forms and documents one must submit as part of a Grenadian economic citizenship application.

General Forms:

  • Schedule II - Application Checklist
  • Annex 1 - Registration of Electronic Signature (primary applicant is required to sign)
  • Annex 2 - Application Form - Family Members (main applicant must sign this form, and parents must sign the form for minor children)
  • Annex 3 - Application Form (each family member must submit an original form, and parents must sign the form for children under 10)
  • Annex 4 - Privacy and Information Release Form (each family member must submit this form, and parents must sign for minor children)
  • Annex 5 - Criminal Records Verification (each family member over 16 must submit an original form)
  • Annex 6 - Birth or Adoption Records (each family member must submit an original form, and parents must sign for children under 10)
  • Annex 7 - Verification of Support of Dependents Over Age 18 (only the primary applicant is required to sign this form)
  • Annex 7 Supplement - Affidavit of Support of Dependents Over Age 18 (main applicant must sign this form and have it notarized)
  • Annex 8 - Medical Health Certification (all applicants, including children and infants, must obtain a medical examination)
  • Annex 9 - Statement of Source of Funds (only the primary applicant is required to complete this form, and it should contain as much detail as possible)
  • Application for Passport (each family member must complete this form, and it is especially important to follow the instructions carefully)

Identification and Other Documents:

  • Passport for each applicant from country of origin
    • should show name, photo, citizenship/nationality, passport number, date, place of issue, expiration date, issuing country, and signature
    • should include first three pages and last three pages of passport
  • Certified color copy of social security and all national ID cards
  • Birth certificate or household register for each applicant
  • Certified copy of marriage certificates (if applicable)
  • Certified copy of divorce certificates (if applicable)
  • 10 original, passport size photos for each applicant
    • photos must be in color
    • photos must be less than six months old
    • photos must be passport quality (35x45mm, full face, quality photo paper)
    • photos must be certified as a true likeness of the applicant
  • Original police clearance certificate for each family over age 16
    • must come from the applicant's country of citizenship
    • must come from any other country applicant has resided in for more than one year over the past ten years
  • Original results for HIV test for each applicant (test must be less than three months old)
  • Military records (if applicable)
  • Education documents
  • Proof of name change (if applicable)
  • Affidavit of Consent and Knowledge from the other parent (when a single parent applies with a child under 18)
  • Legal documentation proving sole custody of dependent child (if applicable)

Investments and Business Documents (required by primary applicant only):

  • Original bank reference letter on bank letterhead
  • Original professional reference letter on official letterhead
  • Evidence of residential address
  • For real estate investments, an executed investment contract, escrow agreement, and Memorandum of Transfer will be required up front, as well as the funds transferred to an escrow account
  • Documents proving the source of investment funds

Legal Basis for Grenada Investment Citizenship

In 2013, the Parliament of Grenada passed "Act No. 15 of 2013," otherwise known as the Grenadian Economic Citizenship Act. This new law was designed to "enable persons to acquire Grenada permanent residence and citizenship by registration following investment." The country's National Transformation Fund was established in law under Public Finance Management Act Cap 262B section 43(1)(a). Upon initial review and recommendation by the nation's economic citizenship committee, projects are given consideration by the Prime Minister of Grenada. Under this law, the Minister can then designate a project as an "Approved Project" for the NTF to officially finance.

Why Invest in Grenada

The Grenada Economic Citizenship Program is just one of the many reasons why the country is a great place for wealthy foreigners to invest. First and foremost, the quality of life in Grenada is better than many other places. With a clean environment, low crime, and tropical atmosphere, the island is a recipe for total relaxation. The residents are famous for their easy-going natures and hospitality, and the island is not in a big hurry. This is a place where you can relax and take it easy. Even if you do not wish to live on the island, just knowing that you can visit whenever you want without the hassle of worrying about a visitor visa can help reduce stress. All of these factors combined can lead to a higher quality of life.

Second, the island has a strong sense of political stability. Grenada is a democratic state with a Westminster Parliamentary form of governance. It has constitutionally held elections every five years, and the people are truly represented within the Government. There is a system of checks and balances in place to prevent one branch of Government from gaining too much power over the others, and there is stability in the process that ensures citizenship by investment in Grenada is not a fly-by-night deal meant to scam foreign investors. The solidity of the Government means that your investment will be as safe as possible.

Third, Grenada benefits from economic stability. The islands have grown steadily over the last several decades. Despite the global financial crisis, Grenada has still managed to grow. Labor productivity in the country is constantly improving, and quality of life on the islands is as well ensuring residents continue to enjoy a solid work-life balance. For a relaxed island nation, Grenada overall has a "work to live" philosophy, not a "live to work" one. Combined with a workforce that is young, literate, and English speaking, this makes Grenada an excellent place to open a business. Another benefit in the economic stability department is the fact that Grenada has relatively low inflation as well as a stable exchange rate. Although the island is not without some inflation, compared to the rest of the world, it remains very reasonable. This means that workers can be paid a living wage that is both economical to the business and beneficial to the employee.

Fourth, the infrastructure of Grenada is well-developed and designed to support businesses and investors alike. Access to electricity is easy, and prices are favorable to the region average. Telecommunications has been a sector of interest to the business community at large, and as a result, Grenada has connected to the Internet and mobile market in a strong and competitive way. Furthermore, investment in digital infrastructure has opened up new opportunities and attracted more data and telecommunications businesses. The demand has helped fuel phenomenal growth, and Grenada has made excellent headway in this department. Transportation is also expanding within the island, as well. Since Grenada relies on imports for certain products, it has excellent port services. The airport is served with two runways, and it is well-maintained with modern conveniences and necessities to improve travel. Even public transportation in Grenada is growing at a phenomenal rate.

Fifth, trade and investment opportunities in Grenada give international investors the potential to earn a lot of money. Being one of the most open economies in the world, the regulatory environment that governs trade and investment is mostly free. The economic structure is diversified between agriculture, manufacturing, tourism, construction, transportation, communications, and government. There is a lot of room for private investors to get involved in local projects, and the more investors put into the economy, the more it will continue to grow. As Grenada continues to become more and more prosperous, the windfall benefits all the islands' citizens. As a CARICOM member state, Grenada is also an excellent place to open a regional office that will service the area.

And, finally, Grenada offers supportive government policies. These policies make it easy for foreign investors to get involved in Grenadian projects. Investors are encouraged to invest, develop businesses, buy land and live in the community, and so on. There are very few restrictions placed on investors, which makes doing business in Grenada easy and convenient. The country's status as a tax haven also helps attract offshore institutions and multi-national corporations alike. For additional information about the benefits of investing in Grenada, please visit the official Grenada immigration website here.

Instant Citizenship by Investment

One of the best things about investing in Grenada is the fact it only takes two to three months to become a citizen. This is one of the fastest turnarounds for second citizenship and a second passport of any country that sells citizenship. Consequently, some people casually refer to Grenada CBI as an instant economic citizenship program. In addition to being an almost instant citizenship by investment program, Grenada is also one of the most reputable citizenship through investment programs in existence.

Income from Real Estate

Not only does investing in approved real estate help a person obtain Grenada nationality, it can provide them with passive residual income. Many resorts with properties approved for sale under the Grenada passport by investment program give foreign owners the option to have their unit rented out. The resort or hotel operator then shares this rental income with the owner, which can cover the property's maintenance costs and even help lower the total cost of buying citizenship in Grenada. When deciding which property to purchase, you should always consider the dividends and capital returns being proposed by the developer.

Living in Grenada

If you are thinking about moving to a safe, clean, and relaxing Caribbean island, the bonus of getting an impressive second passport can make buying a villa in Grenada and relocating there that much more enticing. Due to the islands' natural beauty and fantastic quality of life, many Grenada Economic Citizenship Program participants end up moving to the country and living there permanently.

How Can an Immigration Lawyer Help?

Although the process for qualifying for Grenada economic citizenship is not complicated, it is in-depth. There are a large number of complex forms that have to be filled out, signed, and notarized. Some forms require the primary investor's signature while others require everyone's signature. In addition, everyone in the family who is applying for citizenship must get a full medical check-up and procure the appropriate criminal reports. Since Grenada investment citizenship is for life, the Government wants to ensure that only good, upstanding people have the opportunity to become citizens.

Applications that do not meet the high stands of the Grenada Economic Citizenship Program can be refused, and weak or incomplete documentation as well as missed deadlines can both result in an applicant being declined. Retaining the professional services of an immigration lawyer with experience helping people attain second citizenship by investment in Grenada may be a smart decision. A qualified immigration attorney can guide you through the entire process, ensuring you the maximum chance of success.

Interested in economic citizenship in Grenada? Contact our team today!

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