• Grenada

Aptly called the island of Spice, Grenada is one of the most beautiful island nations in the Caribbean famous for its spices and chocolate exports. The island has undergone repeated periods of colonization and is a melting post of different cultures. It boasts of a very high standard of living and a rapidly developing economy which has transformed it into a prominent investment destination.

The Grenada Citizenship by Investment Program (CIP) was introduced in 2013 to provide an alternative means of revenue to the island which was till then dependent on spice exports and tourism for its revenues. At present the Grenada Citizenship by Investment program is governed through the new Grenada Citizenship by Investment Act, 2013 . The entire process is run by a special body called Grenada Citizenship-by-Investment Committee which consists of ten persons and they report to the Minister. The members come from various fields including law, trade finance and administration.

Basic Eligibility for Grenada CIP

The Grenada CIP is open to all individuals who fulfill the requirements laid down by law.

The basic eligibility for an applicant is that:

(a) he/ she is at least eighteen years of age;
(b) submits all documents as required;
(c) Makes the required investment.

The following applicants are not considered eligible:

(a) Applicant has provided fraudulent information in his application.
(b) When any family member is suffering from a contagious disease or serious health condition.
(c) Conviction in any country for a criminal offence with punishment of imprisonment of over 6 months.

Requirements for investment

There are two modes (any one to be chosen) through which an applicant can chose to make an Investment in Grenada-

(a) Making a Contribution to National Transformation Fund(Government Fund)

The Government Fund aims to use the fund generated under this program for building of schools, hospitals, stadiums and promotion of the offshore sector.

If the applicant chooses to select this option, he can make a non-refundable contribution as per the following table:

One Principal applicantUSD 200,000
Applicant with spouseUSD 200,000
Applicant with three dependentsUSD 200,000
For every additional dependent above FourUSD 25,000

The second option is to make an Investment in approved real estate and the investments to be made are provided below.

(b) Investment amounts for Approved Real Estate

The investment in an approved real estate project has to be made after the application is preliminarily approved. The minimum investment value for the applicant choosing this option is USD 350,000. Additional fees need to be paid for individuals selecting this option and they are mentioned below. The real estate acquired for citizenship cannot be transferred for three years.

Dependents eligible for application

Dependants are also eligible to apply for a residency along with the main applicant in the Grenada CIP. The following persons are applicable for such an application:

(a) Spouse of main applicant
(b) Children below 18 years or if between 18 and 26 years they must be principally dependent upon the main applicant and must be in full time education in a higher educational institution.
(c) In case of parents or grandparents of main applicant or spouse, they must be above 65 years must be economically dependent on main applicant.
(d) Mentally or physically differently-abled children above 18 years.

Cost of the program

The applicants for the Grenada CIP have to pay the following fees for their application:

(a) Processing Fee:

USD 1500 per application for every applicant above 18 years and USD 500 for every applicant below 18 Years.

(b) Due Diligence Fee:

Principal applicantUSD 5000
Spouse and any other dependant above 18 yearsUSD 5000
Dependants up to the age of 17 yearsUSD 2,000

(c) Special Fee for applicants who select the real estate option:

Principal applicant and a maximum of 3 dependantsUSD 50,000
Every additional dependantUSD 25,000

Time duration for procedures under the program

Within sixty days of the submission of the application, the result of the application is communicated. If approved in principle, the applicant has to make the payment for purchase of real estate or make the payment to the Government Fund Contribution within thirty days of the receipt of the information.

Advantages of the program

The CIP provides the best opportunity to acquire Grenadian Citizenship. A Grenadian Passport enables hassle free travel to more than 100 countries including the European Union, United Kingdom and Hong Kong. The country also provides one of the fastest ways to obtain a passport (i.e. around 60 days). Grenada also recognizes dual citizenship and there is no need to surrender your existing passport. Probably, a deciding factor for many would be that there is no need to visit Grenada before or after acquiring the passport and it may even be renewed at the Grenadian Consulate in London.

Choose the Right partner for your Grenada CIP Application

Empire, a leading Professional Services & Advisory Firm focused on immigration and residency offers you a simplified path to apply for the CIP program and secure approvals within the shortest possible time. With our team of immigration experts, you are assured that your application is in informed hands. If you are interested in obtaining more information about this program, please complete this short online application. One of our representatives will be in contact with you. You can reach us through phone at +60350331665 or visit our website www.empireglobal.partners. We also look forward to your emails at info@empireglobal.partners. We offer clear written contract agreements clearly mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.
Citizenship by Investment Official Portal

No designation has been made by the Texas Board of Legal Specialization for a Certificate of Special Competence in this area.