Popularly known as the Isle of Spice, Grenada is a small island country of volcanic origin in the eastern Caribbean. Just 160 kilometres north of Venezuela, it is one of the most magnificent islands in the West Indies. Measuring 344 km2, it is composed of three key islands: Grenada and its sister islands Petite Martinique and Carriacou. An incredible calendar of celebrations, restaurants, and diving are all part of this incredible place, fortifying Grenada’s status as the preferred destination of many high net worth investors.
Launched in August 2013 when the Grenadian Parliament passed Act No. 15 of 2013, the Grenada Citizenship-by-Investment Program enables qualified investors and their family members to obtain Grenadian Citizenship and permanent residence.
Benefit of applying for USA E2 visa:
Holding a Grenada passport makes you eligible to apply for a USA E-2 visa, which makes relocating to the United States of America a straightforward process. The applicant and family are provided up to 5 years of visa to reside and do business in the US. The extension of the visa is granted as long as the business is operational. The applicant may be eligible to change their visa status from E2 to EB5 category which will enable them to obtain US green card.
The Process of Applying for Grenada Citizenship
An applicant is required to make a significant economic contribution to the country or acquire a government-approved qualifying asset to be eligible for Grenada citizenship. After being subjected to a stringent vetting and due diligence process which includes thorough background checks, the applicant and their families will be granted citizenship.
A minimum contribution of US$150,000 is required and the citizenship application takes three-four months to process. The primary applicant must be over 18 years of age and meet the application requirements. Applicants must be of outstanding character, have excellent health, hold no criminal record and have a high personal net worth. They must also fulfil one of the investment options below:
- Real Estate Investment:
As the economy in Grenada moves from agricultural to service-based, foreign investors may find real estate investments to be the most viable option. A minimum investment of US$220,000 is required, which must be maintained for at least four years. The minimum amount includes the primary applicant, the primary applicant’s spouse, as well as two qualifying dependents. The cost for each additional dependent is US$25,000.
- National Transformation Fund Donation:
Grenada’s National Transformation Fund requires a minimum donation of US$150,000. Only the main applicant is covered by the minimum amount. The requirement is set at US$200,000 for a family of up to four people. An additional US$25,000 donation is required for each extra dependent.
Note that if the application includes an eligible parent not exceeding the age of 55 years, the post-approval contribution will require US$50,000 as an additional contribution. Where an application includes an eligible sibling, the post-approval contribution will require an additional contribution of US$75,000.
The government generally responds to an application within 90 days of it being submitted. Successful applicants will receive their passports once the required formalities of investment/contribution are completed within 30 days from the date of approval of the application. Further, it is not mandatory for applicants to pick up their passports in person. The timeline for real estate options may vary according to the particular project. Therefore, it is important to select a real estate project that can supply all of the necessary paperwork.
Carte Blanche is a government approved and duly licensed immigration firm that can assist you in this regard with the entire application process.