A common question when investors begin to examine Grenada’s Citizenship by Investment (CBI) is if they can resell the investment and if they lose the benefits of citizenship in Grenada. It’s an important question to have an answer to before pursuing the CBI programme, but before discussing whether or not an investor can resell, let us go over the Citizenship by Investment programme in Grenada itself.
The Grenada Economic Citizenship Program
The Grenada Citizenship by Investment programme is strictly controlled by the government and allows investors to secure citizenship in exchange for an investment in an approved real estate development or a one-time, non-refundable donation into a government fund. As we’re focusing on whether or not an investor can resell their investment, it’s worth noting that the donation amount is non-refundable, however the real estate investment is possible to sell. As the Grenada CBI programme is controlled by the government, there are several requirements investors must meet in order to successfully apply:
- The applicant must be 18 years of age or older
- Pass a detailed background check and hold no criminal record
- Have documentation that supports good character and the source of funds for the investment, such as bank statements and references.
- Be in good health, verified by a physician
- Be financially capable of making the investment and paying the due diligence fees
There are several steps to the Citizenship by Investment process as well, which can be slowed if the documents included above are not prepared for. It’s imperative to be prepared before pursuing the CBI application process:
- Sign a sales and purchase agreement and submit your deposit
- Pay applicable government fees, and submit the application to the service provider.
- Upon approval of citizenship by the government, the investor pays the remaining balance and associated government costs.
- Proof of investment ownership is submitted to Grenada’s government and the Grenada passport is issued.
The application process is overseen by a government body called Grenada’s Citizenship by Investment Committee, or CBIC, which reviews applications for inaccuracies and ensures investors meet the standards of approval.
Grenada CBI Cost
When reviewing the CBI costs, it’s important to remember that the programme is designed with families in mind, for example, the prices listed below are for a family of four:
- Cost of share: USD 220,000
- Government fees for the main applicant, a spouse, and 2 dependents: USD 50,000
- Due Diligence fees: USD 10,000
- Application fees: USD 6,000
- Processing fees: USD 4,000
- Share registration fees: USD 8,800
- Passport fees: USD 1,000
- Oath of Allegiance: USD 80
- Total cost: USD 299,880
Benefits of Grenada’s Citizenship by Investment Programme
The steps to becoming a citizen of Grenada and the costs of applying to the CBI programme are well worth the extensive benefits investors get in return, and help explain why it is one of the most coveted opportunities:
- Visa-free travel to over 140 countries, including the United Kingdom, the Schengen countries, China, and others.
- Citizenship for life for the applicant making the investment and their family, as well as future generations.
- Efficient taxation allows an investor to grow their wealth.
- Dual citizenship is allowed
- No minimum stay is required to gain citizenship.
- Access to the E2 Visa of the USA.
Reselling your Real Estate Investment & Retaining Citizenship
Investors are able to resell their real estate investment after a 5-year holding period. Once this period has concluded, the investor is free to resell it to any investor who is interested to apply for Grenada citizenship and recoup the cost of their investment.
Once an applicant has successfully completed the citizenship process and received their passport, they are a citizen for life regardless if they resell their investment and are entitled to the benefits associated with citizenship in Grenada.
We at Range Developments have extensive experience guiding investors through the Citizenship by Investment process in Grenada and have several investment options available:
The tremendous success with our Six Senses La Sagesse, Grenada resort will be repeated with the InterContinental Grenada Resort, and our productive relationship with the government of Grenada adds greater efficiency to the application process for our investors. If you have any questions or concerns and are ready to begin your journey to citizenship, we encourage you to speak with one of our CBI representatives by using the button below.