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Grenada
Citizenship by Investment

The Citizenship by Investment Program of Grenada was initiated in August 2013 with the passing of the Citizenship by Investment Act, 2013 by the country's parliament. In 2016, the Government of Grenada formally authorised the program to reinvigorate, improve, and reintroduce it on a global scale.

An Introduction to Grenada

Grenada is a charming island known for its stunning scenery, diverse terrain, and all-year-round pleasant climate. It is recognised for its nutmeg and mace production, earning it the nickname ‘Spice Island.’ As a member of the British Commonwealth, Grenada gained independence from Britain in 1974 and operates under a common law legal system with a stable government. The country has a small but thriving tourism-dependent economy, with nutmeg and mace being its principal export crops. In 2013, Grenada relaunched its Citizenship by Investment Program with the enactment of the Citizenship by Investment Act, 2013. With a Grenadian passport, one can travel visa-free or obtain a visa on arrival to 145 destinations worldwide, including key business and leisure hubs like China, the UK, and Europe’s Schengen Area. Grenada is the sole Caribbean country with a citizenship program that holds an E-2 Investor Visa treaty with the USA. This treaty allows Grenadian citizens to apply for a nonimmigrant visa to the United States.

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Citizenship by Investment Overview

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To obtain Grenadian citizenship through the Citizenship by Investment Program, applicants must make a substantial economic contribution to the country or acquire a government-approved qualifying asset. The rigorous vetting process takes three to four months. Afterward, successful applicants and their families receive citizenship. The program offers several benefits, such as visa-free or visa-on-arrival access to 145 destinations. These include key locations like China, Hong Kong, Singapore, the UK, and Europe’s Schengen Area.

Grenada is the only Caribbean country with a citizenship program that holds an E-2 Investor Visa Treaty with the USA. This allows citizens to apply for a non-immigrant visa after residing in Grenada continuously for three years. The program also enables citizenship transfer to new spouses and future generations. It includes immediate and extended family members, has no restrictions on dual citizenship, and no minimum stay requirements.

Requirements of Grenada citizenship by investment

To become a Grenadian citizen through the Citizenship by Investment Program, the main applicant must be at least 18 years old and meet the necessary application requirements. There are two primary qualifying options.

The first option is the National Transformation Fund donation, requiring a non-refundable contribution of at least USD 150,000 for single applicants.

The second option is the real estate investment, which mandates purchasing property worth at least USD 220,000 from a government-approved project. This option also requires a minimum non-refundable contribution of USD 50,000.

Both options undergo stringent vetting procedures, including a thorough due diligence process and background checks on the applicant and their dependents. Successful applicants can enjoy benefits such as the right to live, work, and study in Grenada. They also gain the ability to travel visa-free to over 145 countries and transfer citizenship to future generations.

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The Process and Timeline for the Citizenship by Investment Program

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The Citizenship by Investment Program for Grenadian citizenship offers a streamlined and convenient application process. Unlike some other programs, applicants do not need to travel to Grenada to complete the process. Instead, Multi Mulk, a trusted agency specializing in citizenship by investment programs, sends the entire application pack to the applicant.

The application pack contains all the necessary documents and detailed instructions to guide the applicant through the process. Once the applicant completes the required documentation and returns it to Multi Mulk, their team of experts will thoroughly review the application to ensure its completeness and accuracy. This attention to detail helps minimize the risk of rejection and ensures a smoother process for the applicant.

Upon submission of the application, the Grenadian government typically responds within 90 days. Successful applicants can expect to receive their passports within 10 working days, without the need to travel to Grenada for collection. Instead, Multi Mulk will coordinate the passport collection process and ensure delivery of the passport(s) to the applicant.

The time frame for real estate options can vary depending on the specific project. Therefore, it is essential to carefully select a government-approved real estate project that can provide all necessary paperwork promptly. Multi Mulk offers expert guidance to help applicants select a project that meets all requirements, ensuring a smooth and efficient application process.

Grenada Real Estate

Grenada’s real estate market has remained stable and has seen growth over the past few years. The government has placed limits on the number of real estate investments available through the Grenada Citizenship by Investment Program to ensure that only economically viable projects are offered under the program. As a result, only a few small luxury developments are available for foreign investors. Real estate ownership in Grenada can be either sole or shared, with a minimum investment of USD 220,000 and a holding period of at least three years. The market is dominated by eco-friendly luxury developments, including family homes and hotels secluded in the forest or along riverbanks. Rental income opportunities for such properties range from 2% to 5%. The government of Grenada supports sustainable infrastructure and encourages eco-tourism, which presents ample opportunity for beachfront developments.

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