Grenada Citizenship by Investment Programme

Grenada Citizenship by Investment Programme

STEP 1

The first step in applying for citizenship is choosing an Authorised International Marketing Agent. Applications for citizenship may not be submitted directly to Grenada’s Citizenship by Investment Committee (CBIC) and must only be handled by agents.

Applicants must contact an Authorised International Marketing Agent, who in turn will liaise with an Authorised Local Agent.

An ‘Authorised International Marketing Agent’ is a trusted global marketer who is permitted to promote the Programme and who assists applicants along with the Authorised Local Agent.

An ‘Authorised Local Agent’ is someone who has been granted a Local Agent’s licence by the Minister and who is authorized to act on behalf of the main applicant with respect to his or her application.

STEP 2

The second step in an application for citizenship is preparing documents for submission to the CBIC. The applicant will need to complete official forms, attend a medical examination, and obtain certain supporting documents – all of which must be submitted in English and be appropriately legalised.

If the applicant is purchasing real estate, this will need to be reserved through a sale and purchase agreement.

The Authorised Local Agent will be able to advise the applicant on the preparation of the documents and on how to have them legalised.

STEP 3

When all forms are complete, the Authorised Local Agent submits the application to the Executive Office of the CBIC. The Authorised Local Agent then becomes responsible for liaising with the Executive Office of the  CBIC in relation to all correspondence, queries, or questions that may arise with respect to the applicant’s file.

There is currently no mandatory interview requirement for the Grenada Citizenship by Investment Programme.

STEP 4

Each application is then vetted and must clear a thorough due diligence background check.

The CBIC considers application files in light of this due diligence check and then issues a recommendation about the application.

Final approval is in the hands of the Minister, who generally follows the CBIC’s recommendation.

Upon the Minister making a decision, the applicant is issued a letter (through his or her Authorised Local Agent) detailing whether the application was successful, delayed for further processing, or rejected.

STEP 5

If the application is successful, the CBIC issues a letter instructing the applicant (through his or her Authorised Local Agent) to either make the contribution (for the NTF option) or complete the purchase of his or her real estate.

If real estate is purchased, then the applicant must demonstrate completion, as well as the execution of all necessary documents.

Upon receiving proof of payment, the CBIC issues the certificate of registration, establishing that the applicant has received Grenadian citizenship. Authorised Local Agents must use this certificate to apply for a Grenadian passport on behalf of the applicant.


National Transformation Fund (NTF)

The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent.

The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy.

Having made a donation to the NTF, investors are left with a true sense of having contributed to their new nation’s well-being.

Applicants opting for the NTF route must contribute at least $200,000 to the Fund. The following chart highlights the costs and fees associated with this route.

NTF CONTRIBUTION

NTF DONATION Single Applicant Main Applicant + Spouse Family with 3-4 Members Family with >4 Members
Required Contribution $200,000 $200,000 $200,000 $200,000+ $25,000 each dependent after the 3rd
Application Fee $1,500 $1,500 per person $1,500 per person $1,500 per person
Due Diligence Fees $5,000 $5,000 per person $5,000 ea. if 18+; $2,000 aged 12-17 $5,000 ea. if 18+; $2,000 aged 12-17
Processing Fee $1,500 $1,500 per person $1,500 ea. if 18+; $500 if under 18 $1,500 ea. if 18+; $500 if under 18

APPROVED PROJECT (REAL ESTATE)

One of the options available for citizenship by investment in Grenada is to invest in a government-approved project.

Currently, these projects encompass real estate developments such as hotels, villas, and resorts.

Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns.

Applicants opting for the approved project (real estate) route must invest at least $350,000, and must keep the real estate for at least three (3) years following the grant of citizenship.

REAL ESTATE OPTION

REAL ESTATE Single Applicant Applicant + Spouse Family with 3-4 Members Family with >4 Members
Min. Value $350,000 $350,000 $350,000 $350,000
Government Fee $50,000 $50,000 $50,000 $50,000 + $25,000 each dependant after the 3rd
Application Fee $1,500 $1,500 per person $1,500 per person $1,500 per person
Due Diligence Fees $5,000 $5,000 per person $5,000 ea. if 18+; $2,000 aged 12-17 $5,000 ea. if 18+; $2,000 aged 12-17
Processing Fee $1,500 $1,500 per person $1,500 ea. if 18+; $500 if  under 18 $1,500 ea. if 18+; $500 if under 18