Grenada Passport By Investment Programme – The Ultimate Guide

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Looking for an affordable and powerful investment passport? Start enjoying visa-free travel or visa on arrival to over 130 countries with a Grenadian economic passport, including Russia, China, the UK and USA via E-2 Visa eligibility. Competitively priced from only $200,000 excluding fees for a family of 4, the Grenadian investment passport is an excellent choice for Nigerian nationals seeking to increase their global mobility or establish a Plan B for their families beyond countries such as Nigeria, Kenya and Ghana.Find out more about this leading Caribbean Citizenship By Investment Programme, or contact us now for more information.

About Grenada

 

Situated in the Caribbean, Grenada is located northwest of Trinidad and Tobago and northeast of Venezuela. With an estimated population of around 110,000 citizens and covering only around 350 square kilometers, Grenada is one of the smallest independent countries in the Western Hemisphere.

The official language of Grenada is English, with Creole English and French widely spoken as well. The country is a constitutional monarchy, with Queen Elizabeth II serving as its monarch. The country’s government comprises a unitary 2-party parliamentary constitutional monarchy, with Keith Mitchell serving as its prime minister.

A handy timeline of the country’s history can be viewed here.

As a Commonwealth Nation, Grenada is also a full and active member of both the Caribbean Community (CARICOM) and the Organisation of Eastern Caribbean States

Grenada is also known as Spice Island – the island is the world’s 2nd largest exporter or nutmeg, and a significant player in the production of ginger, cloves, mace and cinnamon.

According to 2019 estimates, the country’s total GDP (PPP) is at around $1.8 billion, with per capita GDP sitting at around $16,600.

Boasting varied, beautiful scenery, a tropical climate and world class beaches, Grenada is a popular travel destination among travellers the world over. According to the Grenada Tourism Authority (GTA), the totally number of visitors to the island nation surpassed the 500,000 mark in 2018, with further growth recorded during the first half of 2019.

While most of the country’s visitors arrive from US air hubs such as JFK, Miami, Atlanta and Charlotte, the number of cruise ship based arrivals increased by over 220,000 in 2018, while also showing growth in 2019. While destination marketing efforts have been credited for the significant growth in this sector, Grenada’s geographic position – outside of the hurricane belt – has made the country a far easier destination to sell to risk conscious travellers from the USA, in particular.

Berthing capacity at Port Louis Camper and the Nicholson Marina is currently being beefed up by over 50% to accommodate more luxury yachts in the forthcoming seasons.

The Grenadian investment citizenship programme in 2020

A previous iteration of the Grenadian passport by investment programme was suspended around 2002, and only relaunched again in 2013. Act No. 15 of 2013, also known as the ‘Grenada Citizenship by Investment Act, 2013’, serves as the legal basis for the programme.

The full citizenship act can be downloaded here. Also be sure to view the official Grenada Citizenship By Investment website here.

As competition in the global CIP space has increased, with newcomers such as Moldova, Montenegro and Turkey launching citizenship programmes at really compelling price points during the course of 2018 and 2019, Grenada, in particular, has started facing competition in the E-2 eligible space.

It also competes with the St Kitts CIP, which at $195,000 excluding fees for a family of 4, is highly established and globally sought after, despite the fact that it does not offer US E-2 eligibility. (Given the recent price increase on the EB5 Program, Grenadian Citizenship now offers even more value for money in 2020.)

To remain price competitive, the programme’s investment requirements were therefore reduced during the course of 2018 (details below).

It is important to note that applications for Grenadian investment citizenship can only be made through licensed agents, i.e. applicants cannot apply to join the programme directly.

Why choose Grenada for investment citizenship

 

FAST APPLICATION PROCESS: Gain second citizenship for you and your family in as little as 4 months 

EXCELLENT AFFORDABILITY: For migrant investors seeking to obtain Grenadian citizenship by real estate investment, the minimum property investment requirement has been reduced from $350,000 to $220,000, provided that 2 investors co-invest $220,000 each. The decision appears to have had the desired effect, as Q4 programme revenues increasing by over 25%.

NB: The above capital investment amount excludes mandatory government fees of $50,000, which increases by $25,000 per additional dependent after the third person applied for, and also excludes due diligence and professional service provider’s fees.

Investors also have the option to make a non-refundable donation of $200,000 to the government of Grenada, which in turn serves as the basis upon which a family of 4 can qualify for second citizenship. Additional family members can receive citizenship for an additional $25,000 per person.

PASSPORT POWER: Say good-bye to cumbersome Schengen visa applications, and say hello to visa-free travel to over 130 countries worldwide, including China, Russia, Singapore, Malaysia and the EU Schengen countries.

 E-2 VISA PROGRAM ELIGIBILITY: The E-2 Treaty Agreement between Grenada and the USA allows citizens of Grenada to operate a USA business based business and reside in-country for substantial periods of time – along with their spouse and dependent children – at a fraction of the investment requirement and costs associated with the newly updated US EB-5 Programme.

 ATTRACTIVE TAXATION: Grenada charges no tax on new citizens’ worldwide income, making it an attractive destination for African business businesspeople seeking to optimised their global tax obligations.

REPUTABLE CITIZENSHIP PROGRAMME: Grenada’s CIP is internationally regarded as having one of the most rigorous and effective due diligence programmes. Given the country’s economic diversification, it is not reliant on its economic citizenship income, so while the programme strives to be competitive from a pricing point of view, the Grenadian government has the freedom to ensure its CIP programme’s integrity remains intact at all times.

Foreign Affairs Minister Peter David is on record stating that “Grenada has one of the most rigorous due diligence programmes… There are checks conducted electronically, and there are also persons on the ground who would knock on the doors of applicants to verify the accuracy of what is stated on applications.”

FAMILY INCLUSION: Dependent parents and children under the age of 30, and children with physical or mental challenges who are fully dependent on the main applicant are eligible to apply for Grenadian citizenship as well. As an added benefit, an application can also be lodged for the sibling of the primary applicant, provided that they are over 18 years of age, unmarried, and have no children of their own.

 NO MINIMUM STAY: As of 2020, the Grenada CIP enforces no minimum in-country stays, making it an excellent stay for African professionals seeking a Plan B for their families, or simply to boost their global visa-free mobility.

 REMOTE APPLICATION PROCESS: You don’t need to travel to Grenada to apply for second citizenship by investment, making this a highly attraction option for busy professionals for whom time represents business and revenue growth.

 EASY PROGRAMME REQUIREMENTS: While applicant due diligence on the Grenada Passport Programme is considered highly sophisticated and thorough by global standards, the programme does offer the following advantages:

  • No in-person interview is required to apply for a Grenadian investment passport

  • There are no minimum educational requirements

  • Unlike as with the Quebec IIP, for example, no management experience is required to apply under the Grenada CIP in 2020.

DUAL CITIZENSHIP RECOGNISED: Given that Grenada does recognise dual citizenship, you don’t need to give up any benefits you already have to become a citizen of this Caribbean country.

 LEAVE A GLOBAL LEGACY: Grenadian citizenship can be passed on to your descendants. Obtaining second citizenship now will be the gift that keeps on giving even after you’re gone, and its future validity is enshrined in Grenadian legislation.

Grenada Passport: Visa Free Countries (2020 UPDATED)

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As of 2020, the Grenadian passport affords its bearer visa free access, or a visa upon arrival, for over 130 countries worldwide, including Austria, the Bahamas, Bangladesh, Belgium, Botswana, Brazil, Bulgaria, China, Costa Rica, Cuba, the Czech Republic, Denmark, Djibouti Dominica, Egypt, France, Germany, Gibraltar, Greece, Hong Kong, Hungary, Ireland, Italy Jordan, Kenya, Laos, Luxembourg,  Malaysia, Norway, Portugal, Russia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Turkey, Turks and Caicos, the United Kingdom, Zambia and Zimbabwe, to name but a few important trade and business destinations.

How does Grenada compare to other leading CIPs

PROGRAMME MINIMUM INVESTMENT (1 PAX) VISA FREE COUNTRIES PROCESSING TIME
GRENADA $200,000 130 (incl. E2 eligibility) 3-4 months
ANTIGUA & BARBUDA $100,000 147 3-4 months
DOMINICA CBI 2020 $100,000 135

2-3 months

ST KITTS CIP 2020 $150,000 150 2-3 months
SAINT LUCIA CIP 2020 $100,000 144 3-4 months