Grenada is best known as a popular tourist destination visited by travellers from all over the world. And who can blame them? With its calm, clear waters, soft sandy shores, laidback lifestyle and year-round tropical weather, Grenada is an island paradise.
But this beautiful island can provide much more opportunities for foreign nationals than just a great summer holiday spot. Those who hold a Grenadian passport have access to a wide range of benefits and advantages that include but are not limited to, unrestricted travel around the world, favourable tax policies and a chance to obtain an E-2 investor visa in the United States of America.
If you are thinking about obtaining a second passport, then you’ve come to the right place. We break down the application process and timeline of the Grenada Citizenship by Investment (CBI) program so that you have all the information you need when considering this Caribbean country as an option.
In This Article:
- About the Grenada Citizenship by Investment Program
- Process and Timeframe
- Benefits of Grenadian Citizenship
- Book A Free Consultation
About the Grenada Citizenship by Investment Program
Launched in August 2013, the government of Grenada began its CBI program as a means to strengthen the country by stimulating economic growth through foreign investment. In exchange for an individual’s investment into the island nation, they will gain lifetime citizenship in Grenada, as well as a second passport.
Process and timeframe
To be eligible to apply for the Grenada CBI program, foreign nationals must invest in the country. Applicants can choose one of two options as their qualifying investment:
- Donation
Investors can choose to make a minimum, one-time contribution of USD 150,000 to the country’s National Transformation Fund, which will be used to further develop the country’s economy and infrastructure. - Real Estate
The second option available to investors is a real estate investment. A minimum investment of USD 220,000 must be made in government-approved real estate projects. Investors can recover their investment by reselling the property after the required holding period of 4 years.
Grenada is a fabulous place to retire to if you are seeking a life under the sun, in one of the most beautiful islands in the Caribbean.
Please note: In addition to the investment, there are government process fees, professional fees and other costs associated with both options. When using Savory & Partners as your trusted agent, you will be supplied with a fully-itemised quotation with no hidden costs.
The entire application process consists of a few simple steps and can be processed and completed anywhere from as little as 4 months up to 6 months at the most. A breakdown of the timeframe is as follows:
Month 1: Preparation Time
This stage consists of the investor considering which investment route is best for themselves and their family, as well as choosing an authorised agent, like Savory & Partners, to take care of their application. In addition, your authorised agent will aid you in collecting all the necessary documents and prepare all the paperwork during this time, as well as formally submit your application to the Citizenship by Investment Unit.
The Next 30 to 90 Days: Processing Time
At this point, the application will be assessed by the Citizenship by Investment Unit and a background check will be carried out on the applicant. After the assessment, the investor’s application is approved in principle. At this time, the investor must make their financial investment and provide proof of the transaction.
Month 5 to 6: Apply for Citizenship
The last stage of the application process sees the applicant obtaining their Certificate of Registration, and once the passport fee is paid, they will be issued and delivered their citizenship certificate and passport.
There are no residency requirements to apply for a Grenadian passport, you are eligible to apply immediately.
Benefits of Grenadian citizenship
- Unrestricted travel: As a citizen of Grenada, investors gain visa-free or visa-on-arrival travel to over 140 countries and territories worldwide, including the United Kingdom, the Schengen Area, Singapore and China.
- E-2 Investor Visa: Out of all the Caribbean CBI programs on offer, Grenada’s program is the only one that offers the opportunity to obtain an E-2 Investor Visa in the United States of America.
- Quality Education: Grenada is home to one of the world’s best medical schools called Saint George’s University. The university is ranked highly by multiple global organizations, such as the Caribbean Accreditation Authority for Education in Medicine and Other Health Professions (CAAM-HP), National Committee on Foreign Medical Education and Accreditation (NCFMEA) and World Federation for Medical Education (WFME), and is one of a handful of non-US institutions approved by the Council on Education for Public Health Accreditation (CEPH) to be accredited. The premier Caribbean medical school is also the second-largest source of US doctors, with a 94% US Residency Attainment in 2020.
- Retirement option: Grenada is a beautiful island paradise – it is the perfect place to live after you have retired from many years of hard work and are looking to live in peace and serenity for the rest of your life.
- Ultimate insurance: Holding second citizenship in Grenada is a great Plan B to put your mind at ease in times of economic or political instability in your home country.
- Ease of Process: The application process is designed to be a smooth and straightforward process, with no interview and education and management experience required to apply.
- Favourable tax policies: Grenada places no taxes on foreign income, capital gains, dividends, gifts, wealth and inheritance.
- Minimal residency requirements: There are no physical residency requirements and applicants do not have to visit the island nation before or after applying.
- Dual citizenship permitted: When obtaining citizenship in Grenada, you are not required to renounce your current citizenship(s), and your home authorities will not be notified of your new nationality and passport.
Grenada has excellent financial regulations and is home to a number of Canadian banks.
Book a Free Consultation
Please be aware that the government of Grenada does not accept applications directly. Applying to any citizenship by investment program can only be done through a government-approved agent like Savory & Partners. When seeking second citizenship, be sure to render the services of an accredited and recognised advisor, as the internet is rife with fraudulent companies offering schemes that promise a second passport within an implausible amount of time and at an impossibly low cost.
The Savory & Partners team is made up of a diverse group of industry experts who span over 15 nationalities, speak over 25 languages collectively, and come with decades of accumulated CBI and RBI industry experience. Our level of expertise and competence combined with our commitment to serving our clients with the highest level of professionalism and transparency has led us to aid over 1,100 families obtain a second passport with a 100% success rate. There is no team better positioned and more trustworthy than Savory & Partners when seeking the best results on your quest to secure a better future for yourself and your family.
If you would like to apply to the Grenada citizenship by investment program or learn more, get in contact with us today for a free online consultation. One of our skilled agents will happily aid you in your inquiry.
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