The Citizenship by Investment (CBI) program in Grenada has many requirements and several steps to successfully move through it, which can give some investors pause with questions regarding their investment options, potential issues they may face, or confusion at certain steps of the process.
To better help applicants and investors move through Grenada’s Citizenship by Investment process with confidence and without any problems in the process of the application, we’ve assembled answers to common questions and concerns about Grenada Citizenship by Investment.
Frequently Asked Questions About Grenada CBI
Grenada Citizenship by Investment program allows for investment opportunities through government-approved projects and grants citizenship to investors along with a Grenadian passport. The advantages of both are wide-ranging and give business opportunities alongside benefits for the main applicant and their family. As many investors know, it’s important to understand a process and have any questions answered before moving through it to ensure a successful application and avoid any delays.
Here are the most common questions investors have prior to applying for Grenadian citizenship:
What are the Grenada Citizenship Requirements?
As with any government program, there are numerous requirements that the main applicant must fulfill. Many of these economic citizenship prerequisites help protect the country of Grenada from people who could disrupt the country or abuse the program itself:
- The applicant must be 18 years of age or older
- Pass a detailed background check and hold no criminal record
- Have documentation that supports good character and the source of funds for the investment, such as bank statements and references
- Be in good health, verified by a physician
- Be financially capable of making the investment and paying applicable fees
What are the Investment Options for Grenada Citizenship?
There are two routes to apply for the citizenship program in Grenada:
- The real estate investment option: making an investment in a government-approved real estate development
- One-time donation: contributing a significant donation to a government fund that is used for state-sponsored projects.
While the application processes for each are similar, they do somewhat differ depending on the investment option you take. Both options grant the same benefits of citizenship and you’ll still receive a passport, but the one difference that should be noted is that the real estate investment allows an investor to resell their share after a holding period of 5 years. The donation does not offer that advantage.
What are the Application Fees for the Citizenship Program?
Grenada’s Citizenship by Investment programme is designed with families in mind, which is shown in the associated costs and fees. The cost of citizenship in Grenada below is based on an applicant having a family of four:
- Cost of share: USD 220,000
- Government fees for the main applicant, a spouse, and 2 dependents: USD 50,000
- Due Diligence fees: USD 10,000
- Application fees: USD 6,000
- Processing fees: USD 4,000
- Share registration fees: USD 8,800
- Passport fees: USD 1,000
- Oath of Allegiance: USD 80
- Total cost: USD 299,880
The due diligence and government costs outlined are for both the real estate route and the one-time and non-refundable donation to the Grenada government fund.
What is the Application Process for Grenada Citizenship?
The economic Grenadian citizenship application is reviewed by a government body called Grenada’s Citizenship by Investment Committee, or CBIC, and their duties lie in due diligence, reviewing the information provided, and looking for inaccuracies. Before beginning the application, it’s essential you have the following documents organized for the CBIC:
- Filled-out forms required by Grenada
- Investment confirmation
- Certified copy of ID Card
- Certified copy of passports
- Certified copy of Marriage Certificate (if applicable)
- Certified copy of Birth Certificate (if applicable)
- Certified copy of Education Certificate
- Original Police Clearance Certificate
- Original Bank Reference Letter (Not older than 6 months)
- Character Reference Letter
- Six passport-size photos
- Documents supporting Source of Funds
- Affidavit of support for Dependents
Once you’ve assembled the required documents, you can then begin completing the following steps:
- Sales & Purchase agreement: sign an agreement and submit your deposit (both the processing fees, due diligence, and other applicable fees must be paid at this stage)
- Prepare the documents for processing to submit to Grenada’s bank and the Citizenship by Investment Unit.
- CBI Due Diligence stage: the application due diligence process can take up to 4-5 months. Upon approval of citizenship, the main applicant pays the remaining balance and applicable Grenada government fees.
- Closing & Transfer of Passports: proof of ownership will be submitted to the Grenada government, and you will receive your passports.
What Does a Grenada Passport Provide Investors?
Citizenship in Grenada is coveted for the wide array of benefits granted to its citizens, one of which is holding a Grenadian passport. The reason a passport issued by the government of Grenada is highly prized is that it permits its holder to visa-free travel to over 140 countries, including the United Kingdom, the Schengen countries, China and others. This allows for enormous business opportunities as well as leisure travel for your loved ones.
There are a host of other benefits granted to the main applicant and their family, including:
- Citizenship for life for the applicant making the investment and their family, as well as future generations.
- Efficient taxation allows investors to grow their wealth through the investment they’ve made.
- Dual citizenship is allowed
- No minimum stay is required to gain citizenship.
Grenada Citizenship: An Investment Opportunity
Now that the most frequently asked questions regarding citizenship in Grenada and its economic citizenship program are answered, the next is which investment opportunity is best to choose. We at Range Developments have extensive experience guiding our investors through Grenada’s CBI program and have a productive and professional relationship with the government, adding greater efficiency to the process as we’re a trusted CBI partner.
To gain citizenship in Grenada and have an experienced guide through the process, an applicant has several investment options:
Six Senses La Sagesse – A Grenada Citizenship by Investment Program
InterContinental Grenada Resort, Grenada – A Grenada Citizenship By Investment Program
We’ve had tremendous success with our Six Senses resort and are working to repeat it with the InterContinental Grenada Resort. If you have any questions or concerns, or would like to learn move about Citizenship by Investment in Grenada, we encourage you to click the link below!