Grenada, often called the “Spice Isle” of the Caribbean, offers a highly competitive Citizenship by Investment Program (CIP). This program allows investors and their families to obtain Grenadian citizenship in exchange for a significant financial contribution to the country’s economy. Grenada’s citizenship provides numerous benefits, including visa-free travel to over 140 countries and access to the United States E-2 Investor Visa.
Key Features
- Dual Citizenship: Grenada allows for dual citizenship, so you can maintain your original nationality.
- Visa-Free Travel: Enjoy visa-free or visa-on-arrival access to over 140 countries, including the Schengen Area, the UK, China, and Russia.
- U.S. E-2 Visa Access: Grenadian citizens are eligible to apply for the U.S. E-2 Investor Visa.
- No Residency Requirement: You are not required to live in or even visit Grenada to retain your citizenship.
- Family Inclusion: The program extends to include your spouse, children, and dependent parents or grandparents.
- Fast Processing: Citizenship is typically granted within 4 to 6 months.
Overview of Investment Visa Streams
- Purpose: To finance various projects that contribute to Grenada’s national development.
- Eligibility:
- Minimum non-refundable contribution of USD 150,000 for a single applicant.
- Additional contributions required for family members.
- Duration: Citizenship is typically granted within 4 to 6 months after application.
- Others: This is a straightforward option with a one-time payment and no ongoing financial commitment.
- Purpose: To boost the real estate market through foreign investment in government-approved projects, such as resorts and hotels.
- Eligibility:
- Minimum investment of USD 220,000 in an approved real estate project.
- The property must be held for at least five years.
- Duration: Citizenship is granted upon completing the investment and the required holding period.
- Others: This option offers the potential for returns through property appreciation and rental income.
General Eligibility Criteria
- Age: Applicants must be at least 18 years old.
- Clean Criminal Record: Applicants must provide a clean police record.
- Good Health: Applicants should be in good health.
- Financial Stability: Proof of legal source of investment funds is required.
- Due Diligence: All applicants must pass the government’s due diligence process.
Required Documents
- Valid Passport: Copies of passports for all applicants.
- Proof of Investment: Documentation of the source and legitimacy of investment funds.
- Financial Statements: Recent bank statements and proof of income.
- Police Clearance Certificate: Required from the applicant’s country of residence.
- Medical Certificate: Health examination results for all applicants.
- Birth and Marriage Certificates: For the main applicant and dependents.
Application Process
- Choose an Investment Option: Select between the NTF contribution or real estate investment.
- Prepare Documentation: Collect and prepare all necessary documents, including proof of funds, identity, and health.
- Submit Application: Applications must be submitted through an authorized agent to the Grenada Citizenship by Investment Unit (CIU).
- Due Diligence Process: The government conducts a thorough background check on all applicants.
- Complete Investment: Make the required investment upon receiving approval in principle.
- Receive Citizenship: After finalizing the investment, you and your family will be granted Grenadian citizenship.
Cost (Approximate)
| Visa Type | Application Fees | Investment Amount | Additional Costs (Legal, Admin, etc.) |
|---|---|---|---|
| NTF Contribution | USD 8,000 | USD 150,000 | USD 7,500 – USD 15,000 |
| Real Estate Investment | USD 8,000 | USD 220,000 | USD 10,000 – USD 30,000 |
Visa Processing Time (Approximate)
| Visa Type | Processing Time |
|---|---|
| NTF Contribution | 4-6 months |
| Real Estate Investment | 4-6 months |
Key Points to Remember
- U.S. E-2 Visa Access: Grenada is one of the few countries whose citizens can apply for a U.S. E-2 Investor Visa.
- Family Flexibility: The program includes a wide range of dependents, including children up to 30 years old and dependent parents or grandparents.
- No Tax on Foreign Income: Grenada does not tax worldwide income, capital gains, or inheritance.
Conclusion
Grenada’s Citizenship by Investment Program is an attractive option for those seeking a second passport with substantial global mobility, including visa-free access to major countries and the ability to apply for a U.S. E-2 Visa. With flexible investment options and a relatively fast processing time, the program offers a straightforward path to citizenship in a beautiful Caribbean nation known for its stable economy and friendly people. Whether you choose to contribute to the National Transformation Fund or invest in real estate, Grenada provides a unique opportunity to gain a second citizenship with numerous benefits.
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