The Grenada government started offering citizenship by investment in 2013. The Grenada second passport process only takes 3-4 months with relatively low investment obligations. These include a USD 150,000 investment to the government fund or a real-estate investment of between USD 220,000 and USD 350,000.
Located in the West Indies in the Caribbean Sea, Grenada consists of the main island plus six smaller islands that lie to the north. It is situated between Trinidad and Tobago, Venezuela, and Saint Vincent and the Grenadines. With a population of just 112,200, it is known as the “Island of Spice” due to the production of nutmeg, mace and various other spices. English is the official language but Grenadian Creole English and Grenadian Creole French is also spoken throughout the country.
The country received its independence from the UK in 1974 but remained as a member of the Commonwealth. Queen Elizabeth II remains to date, the Head of State. The Grenadian economy is reliant on tourism as well as spices and other agricultural exports including bananas, cocoa, clothing, chocolate, and fish. Ecotourism is growing in popularity and Grenada’s beaches are considered as some of the best in the world.
Benefits of the Grenada Second Passport
The benefits of a Grenada second passport are:
- Visa-free travel to some 141 countries including the EU, Schengen Area, the UK, Singapore, and Russia
- Visa-free travel to China
- Grenadian citizens can apply for the US E-2 Investor Visa which gives the opportunity to live and work in the United States
- Quick processing times
- Cost-effective investment options
- No visit to Grenada necessary
- No interview required
- No language test
- No residency requirements
- Well known, safe, stable social and economic environment
Requirements for the Grenada Citizenship
In order to acquire citizenship by investment in Grenada, applicants must meet a number of requirements. These include being of outstanding character. This means they must have no criminal convictions or charges pending against them and they must be reputable. Checks will be conducted by the authorities to ensure that they are of good standing and can be considered worthy of acquiring citizenship in Grenada.
Applicants are also required to prove that they are in good health. Those with serious health issues may find it difficult to get approved for a Grenada second passport.
Those applying are also required to be high-net-worth individuals. Of course, the cost of applying is only accessible to some, but they must show they can support themselves. The idea is to attract wealthy investors that will not be a drain on the country’s economy in any way. They must also satisfy the financial requirements as laid down by the authorities.
Contributions for Grenada Second Passports
Those wishing to acquire a Grenada second passport must decide how they wish to invest in the country.
They can choose between making a non-refundable donation of USD 150,000 to the National Transformation Fund. This amount covers the main applicant. For a family of up to four people, the requirement is USD 200,000. If the size of the family exceeds four, a donation of USD 25,000 per person is required.
If the applicant doesn’t want to make a donation, they can choose to invest in local real estate instead. The most viable option is an investment in a pre-approved real estate project. Applicants must invest at least $350,000 which must be held for at least four years. This figure includes a family comprising the main applicant, spouse and two qualifying dependents. A further USD 25,000 is required per person for each additional dependent. The price rises to USD 50,000 for family members under 55.
How long it takes
If all documents are in order and are submitted in a timely manner, the process takes between three to four months.
Application process for Grenada Citizenship
Acquiring Grenada citizenship includes a number of important steps that need to be taken with due care and consideration. The whole process takes three to four months from start to finish.
- Before you start your application for a Grenada second passport, you need to engage the services and assistance of a professional such as Fast Offshore. We will evaluate your circumstances and guide you through preparing and executing each step of the process. At this point, we will then check your documents.
- A number of official application forms must then be filled in. The applicant must attend a medical examination and obtain certain supporting documents. These must all be in English and legalised accordingly.
- If the applicant has decided to purchase real estate, it needs to be reserved via a sale and purchase agreement. Evidence of this must be provided to the authorities.
- When all forms have been completed, Fast Offshore will submit the application to the Government of Grenada. They will then liaise on any issues or documents that may be required. There is no mandatory interview requirement at present.
- The government will then undertake a number of due diligence and background checking processes. In addition to this, all submitted information will be thoroughly checked and vetted.
- Once this has been completed, the file and all findings are passed to the Minister. The decision ultimately lies with the Ministers discretion. Once a decision has been made, the applicant will receive a letter notifying them whether the application was successful, rejected, or delayed.
- If the application is successful, another letter is issued instructing the applicant to complete the purchase of the real estate. Evidence of completion must be provided.
- At this stage, the certificate of registration will be issued which states the applicant is a citizen of Grenada.
- Upon receipt of this certificate, the Grenadian passport can be applied for.
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