There are many people who are looking for a new place to call home. While some move for the climate, others for the lifestyle and some for the financial benefits, there are also some that want it all. 

Why not choose a new country that is a paradise in it’s own right, but also offers business benefits? Why not choose somewhere that has very fast processing times? Why not find a place where you can bring your family along, or that opens doors to establishing a presence in the U.S.?

If you’re one of those people, you might very well find that Grenada, and the Grenada citizenship by investment program is the answer you’ve been looking for. Here’s what you need to know. 

What is Grenada Citizenship by Investment Program

Like many countries, Grenada has created a “golden visa” or citizenship by investment program, which is designed to attract high net worth individuals that want to make a new life on a tropical island paradise. 

Unlike some golden visa programs, Grenada does not first require you to get permanent residence. Instead, people who successfully apply for the Grenada citizenship by investment program can get citizenship – and a brand new passport – immediately.

This allows people who successfully apply to either replace their primary citizenship altogether or add another passport to their collection – if their country allows dual citizenship. 

Why Grenada?

Grenada is an island nation state in the eastern Caribbean. It has an amazing climate, a laid back lifestyle and is a tourist hub in the area. 

The people of Grenada are friendly, the island is reasonably well developed, and it is safe and secure to live and work there. Grenada also has some very favorable tax laws, that many wealthier nomads find very attractive to protect their investments and net worth. 

There are several reasons why the citizenship by investment option to become a citizen of Grenada might be more attractive than other countries, including:

• Short processing times, usually within about 4 months, which is remarkably fast by immigration standards
• Able to bring dependent children up to the age of 30 (or beyond if disabled) with primary applicant, and pay lower application fees for additional applicants
• Can bring dependent siblings under 18 if not bringing children, provided you pay the additional fees
• Can bring dependent parents, again, with additional fees
• There is no requirement to be physically resident in Grenada – so you can take advantage of the tax system while you travel the world
• No requirement to visit Grenada during the application – although a trip to a tropical island is never really a hardship
• There is no immigration interview, and you don’t need to meet education or career experience requirements – so as long as you meet immigration requirements and have the investment ready to make, you will almost certainly qualify
• E-2 Visa program allows Grenadine citizens to own and operate businesses in the US and to live there – which makes this a popular option for people who want to work and do business in the U.S. but can’t navigate their complex immigration system
• No taxes on global income – and very low local taxes 

All of which means Grenada is not only a paradise island state, but it is also easier to apply for citizenship by immigration, and there are many benefits to the process and beyond. 

Investment Options

Like most countries that have citizenship by investment programs, Grenada offers different immigration by investment streams, so you can choose the one that best suits your needs. Different options have different minimum investment amounts, and there are different amounts to be paid for single or family applications. 

Donation Route

If you prefer, there’s a quick and easy donation option, which requires a nonrefundable donation of $150,000 to the National Transformation Fund. This fund is used by the government to fund projects on the island. 

It’s worth noting that this amount is only for a single applicant. Should additional family members accompany the applicant, the amount will increase proportionately, so be sure to check what the current donation amount is before you start doing your calculations. 

Real Estate Investment

If you prefer to invest than donate, you can choose to invest $350,000 or more (based on a family of up to four applicants) into an approved real estate investment. You need to leave that investment in place for four years, but it can be withdrawn after that time. 

There are additional costs to add siblings or parents to the application, so again, you should check what the cost will be based on your specific family requirements. 

While you do have to commit more money with this option, you do have the opportunity to get it back after four years, which makes it a very attractive option. 

What are the advantages of having Grenada passport

There are several general advantages to having a Grenadine passport, and to the process, including:

• Visa free travel to China and Russia – which is not possible for the vast majority of other countries!
• You only need to pay for your donation or investment when you are approved by the government, so it’s low risk, and there’s no risk that you will lose your investment (this does not include fees, which must be paid when you apply)
• One of the fastest processing times in the Caribbean, and you can have a new passport in a matter of months
• Visa free travel to over 135 countries

The U.S E-2 Work Visa

Many people who are from the US decide to move to Grenada too – but there is also a special Visa program called the U.S. E-2 Work Visa that allows people with Grenadian citizenship to live and work in the U.S. 

This is, of course a big benefit for people who apply for citizenship in Grenada by investment and could be a big factor in your decision making process.

Application Process – Step by step

Even when you apply for citizenship by immigration in Grenada, there are still several steps in the process. Fortunately, Grenada has one of the fastest processing times, and even with all of these steps, the whole process takes about four months from start to finish. 

When you apply for citizenship by immigration in Grenada, you will have the following steps:

Pre – check of your application

Naturally, when you are applying for immigration, there are a lot of documents you need to collect, certify or notarize and submit correctly. 

Incorrectly prepared documents can take longer to process, or they could derail the process completely. If your application is rejected on a technicality, you would have to redo it before you can resubmit it, which adds time and potentially costs to the process. 

Generally, when you submit an immigration application, the government will want to confirm:

• That you are of good character
• That you don’t have a criminal record
• That you have the financial means to support yourself
• That you are in good health

In order to prove all of those things, you will usually have to get police clearances, bank statements and proof of investments, and possibly a medical checkup. Make sure that you read the application documents carefully, and that you provide all documents in the correct format. Some must be originals, while you can provide certified copies of others. 

Submitting the Application

Once you have completed your application and double checked that you have everything filled in and attached correctly, the next step is to submit your application and pay the fees. These will be:

• $1500 per applicant for the application fee
• $5000 per person for the due diligence fee (not including minor children)
• $1500 per person over 18 and $500 per person under 18 for the processing fee

It’s important to remember that these fees do not include any legal fees, should you decide to use an attorney or immigration specialist. Immigration fees are also not refundable. 

Usually, you will be asked for these fees as they become due. You do not have to make any investments until your application is approved though, however that does need to happen before you can take up residency in Grenada. 

Processing and Decision

Once the government of Grenada receive your application, they will spend time ensuring that everything that is required is included in the application. If your application is incomplete, you might be asked for specific information, or your application may be returned to you. 

After the application has been confirmed as complete, government officials will check to make sure that you are eligible for residency and citizenship, by examining and verifying your documents. 

If the government officials reviewing your application need any additional information from you, they will contact you to ask questions. There is usually a time limit on responding to immigration questions, so make sure that you stay on top of all correspondence and respond swiftly when you are asked for any information. 

Once the application is approved, you will be informed, and you will be given the paperwork you need to land in Grenada as citizens. 

Completing the Payment

After your application is approved, you still need to complete the payment to the investment or make your donation to the government. You will need to provide proof of this payment before you are able to settle in Grenada – or get your new passport. 

Acquire your Passport

After all the processing is done, and your investment or donation has been made, the next step is to acquire your passport. 

It’s important to note that Grenada allows dual citizenship, which means you don’t have to give up your citizenship to assume citizenship of Grenada. 

However, it’s worth noting that some countries (like China) do not allow dual citizenship. It’s also important to consider your own country’s tax situation. Citizens of the U.S., for instance, might choose to renounce their U.S. citizenship before they take up citizenship in their new country, so that they can avoid the long arm of the U.S. IRS. 

Pros and Cons of having Grenada Passport

Getting citizenship in another country is about more than just being able to live there. There are strategic advantages too. In this section, let’s look at all the possible advantages of getting citizenship by investment in Grenada. 

Tax advantages

Grenada is considered a tax haven, which means it has very low taxes on it’s citizens and residents, and it does not tax residents on international income. Many of these benefits apply to both individuals and companies, so many people choose to base their international corporation in Grenada to take advantage of these very lenient regulations. 

There are some taxes that apply to salaries that are earned in Grenada and these are usually used to fund government education, medical and other programs. If you earn a salary in Grenada, you will pay 10% on everything up to 24,000, and anything above that is taxed at 30%. 

If you are not a resident in Grenada, you pay a flat rate of 15% on everything you earn in Grenada. 

This is to be expected in any country – but it’s the exception in international tax and capital gains tax that really sets this country apart from others. 

Family applications

Grenada makes it very easy to apply for citizenship with your family. In fact, the cost for a couple is very similar to the cost to apply with a family of four, comprised of two adults and two children. 

Lower fees also apply for any additional children, and there are options to bring your parents and siblings along too. 

There are also options to apply for citizenship for a spouse that you marry after becoming a citizen – although these usually take longer, and your spouse will need a temporary resident permit to stay in the country while processing is completed. 

Free education

Education is free for children between the ages of 5 and 16 in Grenada, and it is compulsory for that age group. The school system is generally good, but it is better to live in more developed parts of the island if you want to access better schools (and more choice!)

Free primary healthcare

Being a tax haven, Grenada does not have a large, publicly funded health system. However, they do offer citizens a good and comprehensive primary health care system, so you can access doctors, dentists and other services quite easily and affordably. 

U.S. Visa

The U.S. Visa option for Grenadine citizens is one of the most popular reasons for acquiring Grenadine citizenship. The U.S. immigration system is notoriously difficult to navigate, and very few people qualify through traditional means. However, it’s easy to get a work visa for the U.S. if you carry a Grenadine passport. 

The Lifestyle

There’s a reason why Grenada is a Caribbean island hotspot. The people are friendly, the weather is fantastic, and the food, activities and amenities (particularly in major centers) are world class. This is a relaxed and relaxing place to make your home, which is another reason why stressed out, high net worth individuals are flocking to this island paradise. 

FAQ

Is Grenada safe? 

As an island nation, Grenada is very safe. There are only about 112,500 people who call the island home, and there are well developed public and safety services. While you might find some petty crime happening, it’s very rare that anything serious happens on the island. 

Why is Grenada called “the island of spice?”

Grenada has long been well known for growing, processing and exporting spices, in particular nutmeg. It’s still one of the major industries on the island. 

What is Grenada’s capital city?

Grenada’s capital city is St. Georges and has been since the island was first colonized by the British. The island was also occupied by French colonists during it’s time as a colony of Europe. 

How far is Grenada from the U.S.?

Grenada is about 2000 miles from the United States, to the southwest of Puerto Rico. You can reach the island by air from the Unites States within about 4 ¾ hours. 

Who can apply for citizenship by investment in Grenada?

Anyone who meets the immigration requirements and has the money available to invest or donate can apply for citizenship in Grenada. Remember that you and everyone you apply with will be reviewed by immigration teams, and everyone will need to meet the requirements. 

Contact Us

Smart Citizenship has been helping people to make their home in new countries around the world for several years. Our team is up to date on the latest immigration processes and requirements for Grenada, and we’re always happy to help with information and advice if you need it. 

Contact us to discuss how you can take advantage of the citizenship by investment program in Grenada and take advantage of the tax benefits of an island paradise. 

The immigration process can be complex, and while Grenada definitely has one of the more user friendly experiences, there are still some issues that may arise along the way.