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All About Grenada’s Citizenship by Investment Program

9 June 2022

Payment into the National Transformation Fund or payment towards an approved project in Grenada are the only two options under Grenada’s Citizenship by Investment Program.

Launched in 2013, Grenada’s Citizenship by Investment (CBI) Program is applicable to the triad of islands - Grenada, Carriacou, and Petite Martinique. Grenada’s CBI allows individuals and their families to obtain citizenship or permanent residence.

Between January and June 2020, 509 investors and their families were granted citizenship by investment. The total income from this program during this period was USD 7.7 million.

Grenada passport is ranked 33 and allows visa-free entry to 144 countries.

On Peace Index, Grenada is Ranked 44 out of 128 countries on Rule of Law.

Key benefits of Grenada Passport
 
• Travel without visa to more than 140 international and Commonwealth countries. These include the United Kingdom and all members of the European Union, Singapore and Hong Kong.

• Grenada is one of few nations whose citizens can travel to the People’s Republic of China without first obtaining a visa.

• Individuals who obtain citizenship through Grenada’s Citizenship by Investment Program are entitled to the same rights as any other Grenadian citizen. These include the right to live and work in Grenada at all times, and all the rights associated with membership of the Caribbean Community (CARICOM).

• Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children, and dependent parents.

• Grenada has the only Citizenship by Investment program in the Caribbean region with an E-2 Treaty with the USA. Grenada citizens can be granted E-2 Treaty Investor Visa for up to five years which allows them, their spouse and children under 21 years of age to live in the USA. You can freely travel with your Grenada passport while you can live in the USA.

• Many CBI programs have lists of ineligible nationalities. However, Grenada does not restrict any nationalities or citizens of certain territories from applying for this program.

Tax benefits
• Grenada has no foreign income, wealth, gift, inheritance, or capital gains tax.

• There is no restriction on the repatriation of profits and imported capital.

• Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance.

• Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD).

• There is duty-free trading in the Caribbean.

Routes to Citizenship
Through Grenada’s Citizenship by Investment Program, applicants can make only two types of investments to obtain citizenship or permanent residence:

1. Payment into the National Transformation Fund; or
2. Payment towards an approved project in Grenada. The process includes:
• Applicant should be at least 18 years old
• No interview, education, or management experience required.
• You do not need to visit Grenada before, during, or after the application process.
• No requirement to reside in Grenada before or after citizenship is granted.
• The application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process.
• Application for Citizenship by Investment is usually approved within 60 business days of submission (subject to a satisfactory due diligence check and the funds being received).

Contribution to the National Transformation Fund:
The National Transformation Fund (NTF) is a government fund for financing projects that will benefit Grenada’s economy and help its diversification. Applicants who choose this route must make a one-time contribution to the NTF.

Payment towards an approved real estate project
Applicants can obtain Citizenship by Investment through investing in a government-approved real estate project. Currently, these projects encompass real estate developments such as hotels, villas, and resorts.

They must keep the real estate for at least five years following the grant of citizenship.

 

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