Grenada - Citizenship by Investment
With one of the most beautiful harbours in the Caribbean, Grenada has cerulean blue sea beaches and lush vegetation to match. The island boasts mountains, rivers, waterfalls, and fertile land coloured with a variety of spice plantations. Cocoa, sugar, citrus, mangoes, bananas and coconuts are widely grown in Grenada and high quality spices like nutmeg, cinnamon, ginger and cloves are exported. The tropical climate is pleasant throughout the year with an average temperature of 26°C (or 78°F). From stunning natural landscapes and outdoor activities, to yachts and fine dining, Grenada has a lot to offer.
Grenada is an English-speaking parliamentary democracy with its legal system based on English common law. Income taxes in the country are progressive, starting at 10%, with no taxes on foreign income, net worth or inheritance. Corporate tax rates are at 30% with VAT at 15%. Grenada has Visa-free travel arrangements with 145 countries. A treaty with the United States also exists for Grenadian citizens allowing a special E2 Visa after a substantial investment in a US business. Obtaining citizenship for this beautiful country can take 5-6 months and be a smooth transition with help from professionals at IRC.
Benefits of Grenada Citizenship
- No net worth, inheritance or foreign income tax
- Full Citizenship and Passport granted to the applicant, their children, spouse, and parents over 55, with the possibility of dependent siblings or dependent children under the age of 30
- Passport with Visa-free travel to 145 countries including China, the EU, the UK, and other Caricom countries
- No restrictions on Dual Citizenship and Citizenship by Descent also available
- No presence is required in the country
How to Become a Citizen
Making a significant monetary investment or donation, adhering to rules set forth by the governing authority in Grenada; Citizenship - by - Investment (CBI), can grant full citizenship and passport holder status. Currently, there are 2 investment options available:
- A minimum of $220,000. USD real estate property purchased from a qualifying government project
- A non-refundable donation starting from $150,000.USD to the National Transformation Fund
Real Estate Option
This option allows the applicant to purchase a tangible asset in the form of a commercial or residential property. It can be used for a personal business, a second home, vacation home or rental income property. The property must be maintained for a minimum of 3 years. With knowledge of the local real estate market, IRC can provide additional assistance with the procurement of your ideal property. All recommended, qualifying properties are managed for your comfort.
Current fees are as follows:
For a single applicant; with a minimum property purchase of $220,000.USD + government, passport and due diligence fees, the minimum investment is $281,850.USD. Additional closing costs of the property are variable.
For a family of four or more; with a minimum property purchase of $220,000.USD + government, passport and due diligence fees, the minimum investment is $294,800.USD. If there are more than 3 dependents, a fee of $25,000.USD will be charged for each additional dependent. Additional closing costs of the property are variable.
National Transformation Fund Option
The NTF is a government program that provides funding to diversify the Grenadian economy. Advances in the areas of energy, agriculture and tourism are focused upon.
Current fees are as follows:
For a single applicant; with a contribution to the NDF of $150,000.USD + government, passport and due diligence fees, the minimum investment is $160,375.USD.
For a family of four or more; with a contribution to the NDF of $200,000.USD + government, passport and due diligence fees, the minimum investment is $223,850.USD. If there are more than 3 dependents, a fee of $25,000.USD will be charged for each additional dependent.
- Applicants must be 18 years of age or older and in good health
- Applicants must not be engaged in a criminal court case, or be identified as a security or reputational risk
- Applicants must not have a Visa restriction to any of the 145 Visa-free travel countries
For More Information
For additional information please don’t hesitate to contact the IRC. We provide professional assistance from the beginning to the end of the process and ensure a secure transaction. Property investors can also enjoy a smooth real estate acquisition.