Grenada

Summary

About Grenada

Grenada is a Caribbean country composed of three main islands: Grenada, Carriacou, and Petite Martinique.

Grenada, also known as the ‘Spice Island of the Caribbean,’ is a colourful nation with tropical scenery and welcoming people. In addition to sandy beaches, spectacular waterfalls, and abundant spices, Grenada offers a high standard of living, with festive and sports events throughout the year.

Independent since 1974, Grenada is a member of the Commonwealth of Nations, the United Nations (UN), the Caribbean Community (CARICOM), the Organisation of Eastern Caribbean States (OECS), and the Organization of American States (OAS). With a democratic parliamentary governmental system, Grenada is politically, socially, and economically stable.

The Grenadian educational system is modelled on the British educational system, and the population of Grenada is highly educated. St George’s University, located in the nation’s capital city, is one of the best offshore universities in the world, offering courses in medicine and veterinary science, and welcoming over 6,000 students every year.

Location

The islands of Grenada, Carriacou, and Petite Martinique are located in the south-eastern Caribbean Sea, near Trinidad and Tobago. They are part of the Windward Islands, in the Lesser Antilles.

Grenada’s modern airport makes the islands directly accessible from London, Toronto, New York, and Miami.

Grenada’s Citizenship by Investment Programme allows investors and their families to obtain a second citizenship in exchange for an economic contribution to the country. Having restructured, redeveloped, and re-launched its Citizenship by Investment Programme in 2013, the Caribbean island-nation has become a popular second citizenship option, particularly among those with larger families. Through Grenada’s Programme, successful applicants can obtain citizenship of Grenada and obtain a whole range of benefits of Grenadian citizenship.

General Requirements

Applicants for the Grenada Citizenship by Investment Programme must fulfil the following conditions:

  • Be at least 18 years old
  • Be of good character
  • Have no criminal record
  • Pass a detailed background check
  • Be able to provide proof of source of funds
  • Be healthy

Introduction of mandatory interviews for all applicants aged 17 and over under the Grenada Citizenship by Investment Programme, effective 1 September 2023.

Investors may apply with their spouse and dependent children, and, in some cases, dependent elderly parents or grandparents as well as siblings.

Each and every applicant, including all family members must be approved individually by the Government of Grenada through a strict due diligence procedure.

Benefits of Grenada Citizenship

The Grenada Citizenship by Investment Programme provides a huge range of benefits including:

  • Citizenship for life, with the right to live and work in the country
  • No requirement to visit Grenada before, during, or after application
  • Ability to pass on citizenship to future generations
  • Right to hold dual citizenship
  • Global mobility
  • No English language requirement
  • No foreign income, capital gains, gift, and inheritance tax

Effective 1 April 2024, nationals of the following countries are ineligible to apply without exception for citizenship for the Grenada CBI Programme:

  1. Afghanistan
  2. Belarus
  3. Iran
  4. North Korea
  5. Russia
  6. Sudan
  7. Yemen

Nationals of the below listed may become eligible if:

  • They were born in one of the restricted countries, and:
    • migrated before the age of maturity and/or
    • for a period of 10 years or more have maintained permanent residence, or valid visa approval in Canada, the United Kingdom, Schengen member states, the United States of America, Australia, New Zealand, Saudi Arabi, and the United Arab Emirates.
  • They maintain no economic ties to any restricted country.
  • Enhanced due diligence checks/on the ground investigations are conducted in the country of birth.
  1. Afghanistan
  2. Iran
  3. Sudan
  4. Yemen

Investors and their families may become citizens of Grenada through the Citizenship by Investment Programme by selecting one of two options:

  • A one-time contribution to the National Transformation Fund (NTF)
  • A real estate investment in an approved project

THE NATIONAL TRANSFORMATION FUND (NTF)

The NTF option is the most popular investment option under the Grenada Citizenship by Investment Programme. The NTF was established in 2013 to enhance the transformation of Grenada’s economy into one that is diversified, resilient, and prosperous. Due diligence, application and processing fees apply.

The legally required minimum contribution to the NTF is as follows:

  • Single applicant: US$ 235,000
  • Main applicant and up to three dependants (excluding siblings and parents or grandparents aged 55 or below): US$ 235,000
  • Each additional dependant after the third dependant (excluding siblings and parents or grandparents aged 55 or below): US$ 25,000
  • Each parent or grandparent aged 55 or below: US$ 50,000
  • Each sibling: US$ 75,000

REAL ESTATE INVESTMENT IN AN APPROVED PROJECT

There are two options available to applicants who want to invest in real estate in Grenada. In both cases, the investment must be held for a period of five years from the date citizenship is received.

  • Joint investment in tourism accommodation: US$ 270,000 per main applicant
  • Independent investment in real estate in any other approved project: US$ 350,000

Due diligence, application and processing fees apply.

In addition, the following real estate government fees apply:

  • Single applicant: US$ 50,000
  • Main applicant and up to three dependants (excluding siblings and parents or grandparents aged 55 or below): US$ 50,000
  • Each additional dependant after the third dependant (excluding siblings and parents or grandparents aged 55 or below): US$ 25,000
  • Each parent or grandparent aged 55 or below: US$ 50,000
  • Each sibling: US$ 75,000

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