Grenada is best known worldwide as an attractive tourist destination that’s the perfect place to spend the summer holidays. But that’s not all this beautiful island nation is known for. Like its counterparts in the Caribbean, Grenada also offers a successful Citizenship by Investment (CBI) program that has seen a steady growth of foreign investors seeking a second passport.
We look at what makes the Grenada Citizenship by Investment program such an appealing option to high-net-worth individuals, as well as break down the costs associated with the application process.
Launched in August 2013, the government of Grenada began its Citizenship by Investment Program 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.
Related Article: Getting a Second Citizenship From Grenada is Faster Than You Think
When applying for second citizenship through Grenada’s CBI program, foreign nationals have two qualifying investment options to choose from:
Investors can choose to make a minimum, one-time contribution to the country’s National Transformation Fund, a Government Escrow Account, which is used to further develop Grenada’s economy and infrastructure. The costs are:
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 – these include freehold property with title deed, hotel shares, fractional ownership or land.
Investors can recover their investment by reselling the property after the required holding period of 4 years.
Other additional fees that will need to be paid are:
There are required background checks that are payable to the government’s chosen due diligence agency, which will use Interpol, World-Check and other government agencies to screen applicants based on their application. The costs are:
Please note: In addition to the above, there are 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.
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.
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 one 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 would like to learn more, get in contact with us today for a free online consultation and one of our skilled agents will happily aid you in your enquiry.
We are available on every channel convenient for you.
Citizenship by Investment FAQs provide invaluable guidance for investors seeking to expand their opportunities and enhance their global mobility. In…
Residency by investment FAQs serve as a crucial resource for families seeking to safeguard their future. Residency by Investment has…
Immigration policies differ across regions and countries, and most people have to meet stringent requirements and conditions to qualify for…
Greece Residency By Investment New Regulation Greece has announced new minimum investment thresholds for its Golden Visa Program. This…
Starting a business in Dubai places entrepreneurs at the heart of one of the world's most vital economic hubs. It…
An overview of life in Latvia vs. Hungary: living costs, healthcare, education, cities, and language. Latvia and Hungary offer similar…