Immigration Central: All About Grenada’s Citizenship by Investment Program

• Where: An island in the Caribbean

• Total area (including all 3 islands): 344 sq km

• Population: 1.12 lakh

• Capital: St George’s

• Major languages: English (official), French patois

• Currency: Eastern Caribbean Dollar (EC$) 1 EC$ = 27.43 INR

• International dialling code: +1 473

• Internet domain: .gd

• Passport Power: Ranked 33. Visa-free entry to 144 countries (Source: Henley Passport Index)

• Safety Index: Assessed as Level 1: exercise normal precautions (Source: U.S. Department of State Travel Advisory)

• Peace Index: Ranked 44 out of 128 countries on Rule of Law

• Cost of living: Estimated monthly costs for a family of four is about EC$9,813 (Source: www.expatistan.com)

Key benefits

• Travel without visa restrictions to more than 115 international and Commonwealth countries. These include the United Kingdom and all other members of the European Union, Singapore and Hong Kong.

• Grenada is one of few nations whose citizens can travel to the People’s Republic of China without first obtaining a visa.

• Individuals who obtain citizenship through Grenada’s Citizenship by Investment Program are entitled to the same rights as any other Grenadian citizen. These include the right to live and work in Grenada at all times, and all the rights associated with membership of the Caribbean Community (CARICOM).

• Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children, and dependent parents.

• Grenada has the only Citizenship by Investment program in the Caribbean region with an E-2 Treaty with the USA. Grenada citizens can be granted E-2 Treaty Investor Visa for up to five years which allows them, their spouse and children under 21 years of age to live in the USA. You can freely travel with your Grenada passport while you can live in the USA.

• Benefits for children’s education in the UK and other countries of the British Commonwealth of Nations.

• Many CBI programs have lists of ineligible nationalities. However, Grenada does not restrict any nationalities or citizens of certain territories from applying for this program.

Tax benefits

• Grenada has no foreign income, wealth, gift, inheritance, or capital gains tax.

• There is no restriction on the repatriation of profits and imported capital.

• Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance.

• Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD).

• There is duty-free trading in the Caribbean.

Routes to Citizenship

Through Grenada’s Citizenship by Investment Programme, applicants can make only two types of investments to obtain citizenship or permanent residence:

1. Payment into the National Transformation Fund; or

2. Payment towards an approved project in Grenada. The process includes:

• Applicant should be at least 18 years old

• No interview, education, or management experience required.

• You do not need to visit Grenada before, during, or after the application process.

• No requirement to reside in Grenada before or after citizenship is granted.

• The application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process.

• Application for Citizenship by Investment is usually approved within 60 business days of submission (subject to a satisfactory due diligence check and the funds being received).

Contribution to the National Transformation Fund:

The National Transformation Fund (NTF) is a government fund for financing projects that will benefit Grenada’s economy and help its diversification. Applicants who choose this route must make a one-time contribution to the NTF. Applicants cannot contribute to the NTF in person, they must use the services of an authorised local agent. (For the list of approved local agents, visit: https://www.cbi.gov.gd/pdf/Local%20Agents%20Contact%20info.pdf)

Under the NTF route, applicants may either immediately apply for citizenship, or first apply for permanent residence and apply for citizenship at a later stage.

Payment towards an approved real estate project

Applicants can obtain Citizenship by Investment through investing in a government-approved real estate project. Currently, these projects encompass real estate developments such as hotels, villas, and resorts.
They must keep the real estate for at least five years following the grant of citizenship.

For details on government-approved projects, visit: https://www.cbi.gov.gd/index.php/routes-to-migration/list-of-approved-projectshttps://www.cbi.gov.gd/index.php/routes-to-migration/list-of-approved-projects

For details, visit the Grenada government’s official Citizenship by Investment website: https://www.cbi.gov.gd/ Email: info@cbi.gov.gd Phone: +1 (473) 435-0177