Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies. Unspoilt and exotic, it astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices. In addition to its scenery, Grenada offers culture, fun, and friendliness typical of the authentic Caribbean life – making Grenada the perfect place in which to live, work and play.
The Citizenship by Investment Programme came into being in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ This program provides a pathway for high net worth individuals and their families to acquire legal citizenship in this picturesque Caribbean destination.
The benefits of obtaining citizenship through this program are numerous. The Grenada passport is highly regarded and has an excellent reputation. It allows visa-free travel to over 140 countries worldwide. Other benefits include:
- No residency or personal visit to Grenada needed
- Tax-free status – no income, inheritance or wealth tax
- Lifetime citizenship
- Easy second passport and citizenship for your family members
- Privacy in a small peaceful country
- Dual citizenship benefits
- Choice of Real estate investment
- Processing time only 3 months
- Free movement in the CARICOM
There are two main ways in which investors can apply for citizenship under the Grenada Citizenship by Investment Programme:
- National Transformation Fund (NTF): This involves making a non-refundable contribution to the National Transformation Fund. The minimum contribution required is $150,000 for a single applicant.
- Real Estate Investment: Investors can also choose to invest in government-approved real estate projects such as luxury villas and resorts. A minimum investment of $220,000 must be made in one of these properties to qualify for this programme.
Family Related Costs
The Grenada Citizenship by Investment program also extends to include family members of the main applicant. This includes spouse, dependent children, and dependent parents or grandparents.
For each additional dependent, regardless of age, there is an extra due diligence fee and processing fee charged. The exact costs vary depending on the number of dependents included in the application and their age.
In conclusion, the Grenada Citizenship by Investment program offers an attractive pathway for individuals and their families seeking second citizenship. With its numerous benefits and investment options, it continues to be a popular choice among high net worth individuals worldwide.