Grenada citizenship is coveted around the world for its range of benefits and the opportunities it provides investors, as well as their families, but Citizenship by Investment applications aren’t something to fill out unprepared.
To help investors secure a Grenada passport and citizenship, we’ve put together some tips that will help secure a successful application.
Why Apply for Grenadian Citizenship?
There are many countries that offer Citizenship by Investment programs, both in the world and throughout the Caribbean, so why do many investors pursue Grenadian citizenship over other opportunities? A Grenadian passport and holding citizenship in the country offers an array of advantages that benefit the main applicant, their family, and business interests, including:
- Visa-free travel to over 140 countries, including the United Kingdom, the Schengen countries, China and others.
- Dual citizenship for life: The investor and their family are granted citizenship in Grenada that passes down through the generations, and includes unlimited dependents without being required to visit or reside in Grenada.
- The investor can grow their wealth through their investment by benefiting from Grenada’s tax-efficient jurisdiction.
- Exiting the investment after a 5-year holding period, without the loss of citizenship in Grenada
Understand the Application Requirements
Before applying for Grenada’s Citizenship by Investment program, it’s essential to understand the requirements and know you’re able to fulfill them. To have a successful economic citizenship application, the main applicant must:
- be 18 years old or older.
- must prove that they have enough funds to make the required investment, and prove the legal source of these funds.
- not suffer from contagious diseases and/or serious health problems, nor the dependents listed on the application.
- Should have no criminal record or be the subject of a criminal investigation.
- not to be considered a potential national security risk.
- not to be involved in any activity likely to cause disrepute to Granada.
- not to have been denied a visa to a country with which Grenada has visa-free access.
If you’re unable to meet these requirements, the application will be rejected.
Grenada Investment Options for Investors to Apply to
Grenada offers two routes for its Citizenship by Investment program:
- The real estate option: making an investment in a government-approved real estate development.
- One-time donation: contributing a significant donation to a government fund that is used for state-sponsored projects.
It’s important to note that the benefit of reselling your investment doesn’t apply to the one-time donation, it is non-refundable. On the other hand, being able to recoup much of the real estate investment amount after a 5-year holding period, gaining the money back from another investor seeking citizenship without losing their own, pushes investors towards a real estate option.
To better understand why the real estate investment is more appealing, here is the breakdown of the Grenada CBI cost for real estate. Keep in mind that the costs below reflect a main applicant, a spouse and two children below 17 years old:
- Cost of a hotel share: $220,000
- Government fees for the main applicant, a spouse, and 2 dependents: $50,000
- Due Diligence fees: $10,000
- Share registration fees: $6,000
- Government processing fees: $4,000
- Passport fees: US $1,000
- Oath of Allegiance: US $80
- For a Family of 4: $299,880
Know and Prepare the Documents Needed
A large part of Grenada’s economic citizenship program is the documentation that supports your investment, and identity, and helps protect the people of Grenada from criminal activity. It’s important to be familiar with the required documentation to make sure your application will be considered by a Citizenship by Investment Unit of Grenada:
- Filled-out forms required by Grenada
- Investment confirmation
- Certified copy of ID Card
- Certified copy of passports
- Certified copy of Marriage Certificate (if applicable)
- Certified copy of Birth Certificate (if applicable)
- Certified copy of Education Certificate
- Original Police Clearance Certificate
- Original Bank Reference Letter (Not older than 6 months)
- Character Reference Letter
- Six passport-size photos
- Documents supporting Source of Funds
- Affidavit of support for Dependents
Choose a Reputable Citizenship by Investment Developer
There are many Citizenship by Investment agencies and developers that seek investors wanting Grenadian citizenship, but it’s important to look at their track record of successful projects and experience. We at Range Developments have an extensive and documented background guiding our investors through Grenada’s CBI program and have a productive and professional relationship with the government, adding greater speed to the process ( 120 days)as we’re a trusted CBI partner.
We have built successful hotels under Citizenship by Investment programs of St. Kitts and Dominica. Our latest real estate development in Grenada, InterContinental Grenada Resort, Grenada is an excellent option to secure citizenship in Grenada. We’ve had enormous success with our Six Senses La Sagesse resort and are working to repeat it with the InterContinental Grenada Resort. If you have any questions or concerns, we encourage you to speak with one of our CBI representatives by using the button below.