Investors seeking Grenada citizenship may pause during the application process, unsure of how to proceed and worrying about the consequences of not meeting the application requirements.
To better help investors gain the wide array of benefits that Grenada citizenship offers, we’ve outlined a step-by-step guide to the application process for Grenada Citizenship by Investment that will ensure a successful experience applying for it.
Application Process Overview: Prepare to Apply
Before starting the application process, it’s important to know the steps and requirements, making sure you’re able to fulfill them and move forward through the Grenada Citizenship by Investment program.
To gain Grenada citizenship, an investor must fulfill several requirements in order to successfully complete the process:
- The main applicant must be 18 years old or older.
- The main applicant must prove that they have enough funds to make the required investment and prove the legal source of these funds.
- The main applicant and dependents do not suffer from contagious diseases and/or serious health problems.
- Cannot have a criminal record and be under a criminal investigation.
- Cannot be considered a potential national security risk.
- Cannot be involved in any activity likely to cause disrepute to Granada.
- Cannot have been denied a visa to a country with which Grenada has visa-free access.
Decide On Your Investment Options for Grenadian Citizenship
The specific application process steps for Grenada citizenship depend on which of the investment options you choose, of which there are two:
- The real estate investment 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 whether you choose the real estate or donation option, you’ll receive full citizenship in Grenada and a Grenadian passport. Many investors pursue the real estate option because they’re able to resell their hotel share after 5 years and recoup their investment without losing any of the advantages, such as visa free travel, and citizenship itself. The application process for the real estate option is as follows:
- Sales & Purchase agreement: sign an agreement and submit your deposit (both the processing fees, due diligence, and other applicable fees must be paid at this stage)
- Prepare the documents for processing to submit to Grenada’s bank and the Citizenship by Investment Unit.
- CBI Due Diligence stage: the application due diligence process can take up to 4-5 months. Upon approval of citizenship, the main applicant pays the remaining balance and applicable Grenada government fees.
- Closing & Transfer of Passports: proof of ownership will be submitted to the Grenada government, and you will receive your passports.
Submit Your Deposit on the Investment
The first step in the Citizenship by Investment application (for the real estate investment option, as this is the most popular choice and will be the focus of these steps) process is signing the Sales & Purchase agreement and settling the deposit payment to the developer (service provider) along with the processing fees, due diligence fees, and other fees payable at this stage.
Prepare Required Documents for Processing
The next step in the CBI application process is preparing the documents for submission. Any documents that are incomplete, missing, or completed incorrectly can slow your processing time if not cause an application rejection. The documents include, but not limited to:
- 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
- Letter of Authorization
These documents are submitted to the bank in Grenada along with all applicable fees paid in step #1. The bank may make specific requests for documents from the application to help fulfill the due diligence requirements.
Submit the Remainder of the Investment
As soon as the due diligence process by the bank is completed and the documents package is given a permit to be submitted further, the application is vetted by the CBIC through their due diligence background check, examining and verifying the information, though final approval is from the Minister. This step in the process can take up to 5 months and, upon approval, the main applicant will pay the remaining balance of the investment and Grenada government fees.
Application Processing Finished: Passport & Citizenship Granted
Once the remaining fees are paid in full, the CBI service provider will submit proof of a hotel share ownership to the Grenadian government showing you’ve bought shares in a development. In turn, the government will send citizenship papers and your Grenada passport. You now hold dual citizenship and enjoy all the benefits of being a citizen of Grenada.
Grenada Citizenship by Investment Program Process Complete
It’s worth noting that one of the most important steps in the CBI process, before initiating your application, preparing documents or filling out any paperwork, is finding a reputable and authorized Citizenship by Investment provider, like Range Developments. We at Range Developments have a decade of experience guiding our investors through Grenada’s CBI program and other Caribbean CBI programs and have a productive and professional relationship with the government, adding greater speed to the process as we’re a trusted CBI partner and the lead CBI developer in the Caribbean.
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.