Escape to Grenada: Citizenship Opportunities in the Caribbean Paradise

Grenada remains one of the Caribbean’s hidden treasures at the southernmost point of the Grenadines Island chain. While it may not top the list of mainstream Caribbean getaways, the nation’s relative obscurity is its charm. For those in search of a peaceful retreat or a permanent abode away from the bustling crowds, Grenada is an excellent choice. The island’s citizenship by investment (CBI) program is a significant draw for people from all corners of the globe, offering the opportunity to own property in this idyllic land. Do you want citizenship without the commitment of property upkeep? Grenada does offer this opportunity, and we will detail it in this article.

Island of spices: Grenada’s journey through time

Affectionately referred to as The Spice Island by West Indian locals, Grenada was introduced to the world by Christopher Columbus in 1498. The landscape, reminiscent of Andalusia, inspired the country’s Spanish name, Granada.

Subsequently, the French established the island’s first settlement, which evolved into the modern-day capital, St. George’s. French rule persisted until Grenada gained its independence in 1974. The nation has since fostered a stable, democratic governance and diversified its economy. The local Citizenship by Investment (CBI) program, initially launched and then suspended in 2001, was reintroduced in 2013. As of now, it continues to thrive, turning Grenada into a premier CBI destination in the Caribbean.

Why become a citizen of Grenada?

Grenadian citizenship comes with a multitude of benefits, which makes it an attractive opportunity for many:

• Residency: There is no obligation to reside in Grenada, and you will enjoy both flexibility and convenience.
• Efficient Processing: The citizenship process is expedited: compared to other jurisdictions, it only takes a quarter of the time.
• Inclusive Policy: Grenada imposes no nationality restrictions on applicants or their dependents.
• Global Respect: As a jurisdiction, Grenada enjoys a high level of international respect.
• Rights and Stability: Citizenship grants the right to live and work in Grenada, a nation with an efficient economic and political system.
• CARICOM Benefits: A Grenadian passport is also a CARICOM passport, which grants its holders the rights of free movement, employment, and training in the Caribbean Community.
• Visa-Free Travel: Those with Grenadian passports enjoy visa-free entry to the European Union, China, and almost all South American countries.
• Global Access: The Grenadian passport guarantees visa-free access to 117 countries worldwide.
• Investor Visa: Under the E2 program, investors can secure visas to the United States.
• Family Inclusion: The main applicant may include any unmarried and childless siblings over 18 as dependents in their application, which is unique to Caribbean investment migration programs.
• Tax Advantages: Grenada imposes no tax on capital gains and no gift or inheritance taxes.
• Property Tax: Depending on property usage, real estate tax rates range from 0% to 0.5%.

This clear approach not only clarifies the benefits but also emphasizes the unique opportunities that come with being a citizen of Grenada.

Applying for Grenadian citizenship: documents and procedures

To apply for Grenadian citizenship for each family member, you’ll need to provide these documents (originals or certified copies):

• Police Clearance: A clean police report for the main applicant and any dependents aged 18 and over.

• Medical Certificate: A health certificate from a doctor or medical facility, including a negative HIV test result for all applicants.
• Age Requirement: The main applicant must be at least 18 years old.
• Funds Verification: Proof that the source of funds for the application is legitimate.
• Passport Copies: Notarized color copies of every passport page, with an apostille and notarized translation for each family member.
• Photographs: 20 passport-sized photos (3.5 x 4.5 cm) for each applicant.
• Military Records: A military ticket with an apostille and translation, if applicable.

Documents necessary for citizenship by investment or donation may be issued or requested by applicants in their current long-term residence state or country of origin. Some documents are also provided by Grenadian authorities. For instance, applicants and their relatives can obtain the latest forms for the Grenadian Golden Passport on the official economic citizenship program website.

All in all, the citizenship procedures may range from 2 to 12 months.

The government of Grenada has introduced a stringent vetting process for applicants. An application may be declined for any of the following reasons:

• Misrepresentation: Submission of false information during the application process.
• Criminal Record: A past criminal conviction with a sentence of more than six months in any country unless a pardon has been granted.
• Active Investigation: The applicant is currently under investigation for criminal charges.
• National Security Concern: The applicant is considered a potential threat to the national security of any country.
• Harmful Conduct: Participation in activities that may tarnish Grenada’s reputation.

All these measures protect the integrity and security of Grenada’s citizenship program.

Grenada’s citizenship options: donation vs. real estate

At present, Grenada offers two citizenship opportunities, each with its own requirements.

1. Citizenship by donation

• Single Applicant: A one-time, non-refundable contribution of USD 150,000 to the National Transformation Fund (NTF).
• Family Application: A donation of USD 200,000 covers up to four family members. An additional USD 25,000 is required for each dependent beyond the fourth.

1. Citizenship via real estate investment

• Individual Investment: A minimum investment of USD 350,000 in a government-sanctioned development project, plus a state fee of USD 50,000 for a family of up to four. Each extra family member incurs a USD 25,000 fee.
• Joint Investment: Two investors can jointly invest USD 440,000 in approved property, with each contributing USD 220,000.

NB: Applicants must furnish proof of investment or donation within five days of approval. This proof is necessary for the government to issue Grenadian citizenship certificates and passports. Secondary property owners in approved projects can also obtain citizenship.

Considering Grenadian citizenship? Reach out to International Wealth

If you’re considering Grenadian citizenship, the team at International Wealth is ready to assist you with any inquiries. Feel free to send us a message or contact our experts in any other way for further information!