Grenadian citizenship

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 the 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.

The Grenadian Citizenship by Investment Program

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 pot 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 the 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:

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

Requirements for investment

There are two modes (anyone to be chosen) through which an applicant can choose 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 the building 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 applicant — $200,000

The applicant with spouse — $200,000

An applicant with three dependents — $200,000

For every additional dependent above four — $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 $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

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

a) Spouse of the 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 the case of parents or grandparents of the main applicant or spouse, they must be above 65 years must be economically dependent on the 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:

Processing Fee:

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

Due Diligence Fee:

Principal applicant — $5000

Spouse and any other dependent above 18 years — $5000

Dependents up to the age of 17 years — $2,000

Special Fee for applicants who select the real estate option:

The principal applicant and a maximum of 3 dependents — $50,000

Every additional dependent — $25,000

The 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 the 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 by 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 mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.

Citizenship by Investment Official Portal