Citizenship by investment (CBI) is a process where individuals can acquire citizenship of a country by investing in its economy. Grenada’s Citizenship by Investment Program (GCIP) allows investors and their families to obtain Grenadian citizenship by making an investment in the country’s economy through the National Transformation Fund or approved real estate projects. Once approved, applicants receive benefits such as visa-free travel to over 140 countries. Grenada is a tax haven, with no personal income tax or capital gains tax.
Benefits of Grenadian Citizenship by Investment
Gaining Grenadian citizenship by investment has various advantages, such as:
- Travel without a visa is possible for Grenadian nationals in approximately 140 countries, including the Schengen region, China, the United Kingdom, and many more well-known locations.
- Access to high-quality education: Grenada has a solid educational system, and its residents can attend both local and international institutions of higher learning of the highest caliber.
- Opportunities for business: The economy of Grenada is expanding, and citizenship by investment provides chances to participate in local companies and real estate.
- Tax benefits: Grenada has no wealth, inheritance, or capital gains taxes, which makes it a desirable location for travelers looking to reduce their tax obligations.
Requirements for Grenadian Citizenship by Investment
The following criteria must be met in order to become a Grenadian citizen via investment:
- Investing possibilities and minimal amounts:
Real estate: A $220,000 USD minimum investment in a project that has been given the go-ahead.
National Transformation Fund: A non-refundable donation of $200,000 for a family of up to four or $150,000 for a single applicant.
Through the Citizenship by Investment Program, a person must fulfill the following criteria in order to become a citizen of Grenada:
- Investment: Applicants must also choose between two potential routes for citizenship. This can either be a non-refundable donation to the National Transformation Fund (NTF) or an investmentin a Government approved real estate project in Grenada.
- Due Diligence: The candidate must go through a complete background investigation by an approved agency, which will confirm their reputation, financial history, and character.
- Health: The candidate has to get a health certificate and go through a medical checkup.
- Age: At least 18 years of age is required for applicants.
- Criminal History: The candidate must not be a flight risk or have a criminal history.
- Residence: Prior to or after getting citizenship, the candidate is not obliged to reside in Grenada.
Timeline and application process:
- Before beginning the application procedure, the applicant must work with a government-approved agent.
- The applicant must complete all relevant application forms, submit them, and include all essential supporting documentation with the assistance of Migrate World.
- The Grenada Citizenship by Investment Committee (CBIC) will examine the application and give a recommendation to the Minister in charge of citizenship.
- The applicant must make the necessary investment and pay any additional costs when the application is accepted.
- After receiving a certificate of registration, the applicant can submit an application for a Grenadian passport.
- The process takes 4-6 months.
Residence requirements: Applicants do not need to visit Grenada before, during, or after the application process
FAQs about Grenadian Citizenship by Investment
Below are some of the frequently asked questions by our clients during their consultancy for the Grenadian CIP program:
How long does the application process take?
The application process for Grenadian citizenship by investment typically takes 4-6 months to complete.
Can I include my family members in my application?
Yes, you may apply for citizenship with your spouse, dependent children, dependent parents and dependent and unmarried siblings.
What are the investment options available?
The minimum investments required to qualify for Grenadian citizenship by investment are $220,000 USD in a Government approve real estate project, $150,000 USD in a non-refundable donation to the National Transformation Fund (NTF).
Is Grenadian citizenship by investment a permanent solution?
Citizenship in Grenada is for life and acquired under the program for citizenship by investment is perpetual and transferable to subsequent generations. It is crucial to remember that citizenship might be withdrawn if it was gained dishonestly or if the citizen was proven to have participated in unlawful activity.
In conclusion, Grenadian citizenship by investment comes with a host of advantages, including the ability to travel to many nations without a visa, access to high-quality education, business possibilities, and tax breaks. Meeting the necessary investment amount and successfully completing the due diligence procedure are prerequisites for becoming a Grenadian citizen. There are no residency requirements before, during, or after the application process