Adorned with natural treasures and the rich greenery of nutmeg plantations, Grenada attracts those seeking more than just a change of scenery. Nestled between the Atlantic Ocean and the Caribbean Sea, this archipelago not only serves as a tourist destination but also as a second home and an investment in a life less ordinary.
With second passport by investment programs, Grenada lets you explore global opportunities and enjoy luxuries beyond the glitz and glamor of urban living.
Whether you wish to relocate with your family or on your own, this ultimate guide will give you the most critical information you need to acquire a second passport and relish everything the Grenada citizenship by investment program can offer.
Why Choose Grenada? 7 Citizenship Benefits You’ll Enjoy
Many investors choose Grenada as a second home not only because it is a beautiful country but also due to the advantages granted to passport holders. Hailed as one of the best Caribbean citizenship by investment programs, its benefits range from the freedom to explore more global opportunities to the ability to pass on the citizenship to future generations.
Here’s a rundown of the major perks you can look forward to if you become a dual citizen in Grenada:
1. Visa-Free Travel
The Grenada citizenship by investment program opens doors to wherever your ambitions take you. With a Grenada passport, you can enjoy hassle-free exploration with access to over 140 destinations, including coveted spots like China, Singapore, Hong Kong, the United Kingdom, and Europe’s Schengen Area.
2. Exclusive Access to the United States
Grenada stands as the sole Caribbean country with an E-2 Investor Visa Treaty with the United States (US). After residing continuously in Grenada for three years, you become eligible to apply for a non-immigrant US visa and expand your business and investment prospects on American soil.
3. Generational Legacy
Your Grenadian citizenship isn’t just for you; it can also be your legacy for your family. You can transfer the privilege to your new spouse and future generations and enjoy a long-lasting advantage for your loved ones.
4. Flexible Inclusions
The Grenada second passport program also accommodates your nearest and dearest. You can extend your citizenship to your entire family, ensuring that your loved ones share the benefits of your Grenada citizenship.
Qualified dependents include:
- Children under 30
- Unmarried siblings aged 18 and over
- Grandparents (main applicant and spouse)
5. Dual Citizenship Freedom
Embrace the best of both worlds with no restrictions on dual citizenship in Grenada. Maintain your existing citizenship while reaping the rewards of your status as a Grenadian citizen.
6. No Strings Attached
Grenada welcomes investors without demanding a minimum stay. This means your citizenship thrives without the constraints of residency requirements, allowing you the flexibility to manage your global affairs seamlessly.
7. Affordable Investment
Begin your journey with a relatively low minimum investment of $150,000. Grenada’s citizenship by investment program makes global mobility accessible without breaking the bank.
How to Get a Grenada Passport: 2 Citizenship by Investment Routes
The Grenada citizenship by investment program was launched in August 2013. At the time, the parliament passed the Grenada Citizenship by Investment Act of 2013, which explained in detail the basic qualifications for investors applying for a Grenada passport:
- Must be at least 18 years old
- Must be in satisfactory health (certified by a medical clearance)
- Must possess the required funds for investment (with a provable legitimate source)
Applicants must also demonstrate a spotless legal history. This means you must present a comprehensive police background check from your home country and any other nations where you’ve resided for six months or more over the past decade.
You will also need to pay a non-refundable due diligence fee, which will facilitate a meticulous vetting of your background.
Based on the Grenada Citizenship by Investment Act, aspiring investors can apply for a second passport in the Caribbean country via two routes:
1. National Transformation Fund Contribution
The National Transformation Fund (NTF) serves as a way for aspiring Grenada passport holders to invest in the country’s economy. It is a method of citizenship by investment that lets you become a contributor to the country’s well-being.
The NTF subsidizes projects that benefit various industries in Grenada, including agriculture, tourism, and alternative energy. It is also considered the most straightforward way of acquiring second citizenship in the country. In fact, it has become so popular that investments in the fund reached a whopping $172.8 million between 2016 and 2022.
- Hassle-free and more straightforward processing compared to the real estate investment
- Electronic application for a more streamlined process
- Better infrastructure and education, as well as enhanced disaster relief
The minimum investment required for this Grenada citizenship by investment route is $150,000 for single applicants. This non-refundable amount goes straight to the National Transformation Fund, which is then spent for the country’s economic development.
If you’re married or have members of your family that you plan to bring to Grenada with you, you will need to invest at least $200,000 to bring your family to Grenada. This amount covers families with a maximum of four members, including the main applicant. If you have a bigger family, you’ll need to add $25,000 for every additional dependent.
2. Government-Sanctioned Real Estate Investment
In recent years, there has been a growing demand for real estate in Grenada. Between the boom in the tourism industry in the Caribbean and the growing number of visitors looking for diverse real estate options where the sun shines all year, Grenada’s real estate investment route has become an appealing route for dual citizenship.
This option lets you invest in a government-approved property of your choice. The selections include real estate developments such as villas, hotels, and resorts, all of which offer high returns.
- A ready-to-occupy residence for you and your family
- Additional income stream from rental properties
- Low property taxation (with no capital gains or estate taxes)
- Lifetime dual citizenship
Investors who choose the real estate route in Grenada have two options:
- To own a real estate property worth at least $350,000
- To invest in a real estate share of at least $220,000
These minimum investment amounts cover single applicants as well as families with no more than four members. You can also include additional family members after your third dependent by paying a $25,000 government fee for each one.
Take note that you need to maintain ownership of the real estate (or real estate share) for at least five years after you get your Grenada passport to maintain citizenship.
Your Journey to Grenada Citizenship Begins Here
Congratulations on uncovering the key to a life less ordinary through the Grenada Citizenship by Investment program! Let our experts guide you through the process seamlessly, ensuring you navigate every step with confidence. Contact Citizens International today and embark on a life-changing journey with Grenada Citizenship by Investment. Your adventure awaits!