Citizenship by Investment in Grenada
Citizenship by Investment Program in Grenada has been re-established by the Citizenship by Investment Act, No. 15 of 2013. The Law allows foreign investor to qualify for expedited naturalization as Grenadian citizens in two ways: real estate investment or official donation to the state-owned foundation. Strict due diligence procedure will apply. Citizenship applications will be processed within 60 days with a passport to be issued shortly afterward.
Investment options are as follows:
- Investment in an Approved Real Estate Project (Mount Cinnamon). The minimum threshold is USD 220,000 (as amended in 2019, before that it was USD 350,000). The investment is subject to a minimum holding period of four years. The investment does not include government processing fees, due diligence check and other costs in the total amount of USD 50,000. For every additional child (if the family consists of more than 4 members) the Government charges additional 25,000 USD.
- A non-refundable donation to the Island Transformation Fund. Unlike the first option, this option is not a direct citizenship-by-investment program, but is a two-step program. The required donation amount is USD 150,000 for a single applicant and USD 200,000 for a family of 2-4 persons.
Benefits of Being a Citizen of Grenada
- This is the fastest citizenship by investment program in the Caribbean. There is no requirement to visit Grenada in order to qualify for citizenship.
- Citizenship of Grenada is available for investor and his close family members.
- The real estate should produce a modest annual income, and may be enjoyed by the investor along with friends and family, and will maintain or enhance its market value.
- Visa-free travel to many countries of the world, including Schengen Area (EU), United Kingdom, Ireland, China, and Singapore.
- Facilitated business immigration to the US (through E2 visa which is available for restricted list of countries including Grenada).
- Grenada has no income, wealth or inheritance taxes.
- Dual citizenship is allowed.
- Other benefits.
Questions and Answers:
Question: Is citizenship in Grenada passed on to future generations?
Answer: In Grenada, citizenship can be passed on from generation to generation. Upon acquiring citizenship, the main applicant can apply for citizenship for any minor child. In future, the main applicant’s child who has been granted Grenadian citizenship can apply for their minor children (i.e. the main applicant’s grandchild) to become a Grenadian citizen, and so on for generations to come.
At “Elma Global” we cooperate with reputable immigration lawyers in Grenada and we shall be happy to assist you in acquiring citizenship by investment in Grenada at the best prices available on the market. If you have any questions contact us today.