Republic of Grenada Citizenship by Investment

Grenada re-opened its Citizenship by Investment Program in 2013, once more accepting applications for citizenship on the “Spice Island” – so named for its abundance of nutmeg, mace and cocoa plantations. The tiny island nation features immaculate white sand beaches framed by the crystalline water of the Caribbean Sea.

 

A former colony of both Britain and France, this tropical retreat became an independent republic in 1974, joining the British Commonwealth soon after.

Investment Options

Grenada offers two investment options through which foreigners can obtain citizenship: A US$200,000 contribution to the National Transformation Fund (NTF)  or an investment in government-approved real estate of no less than USD $350,000.

National Transformation Fund Contribution

The NTF’s mandate is to finance domestic Grenadian industries such as tourism, agriculture, and alternative energy. For a single applicant and up to three dependants, the NTF contribution requirement is US$200,000.  All NTF donations pertaining to citizenship applications are non-refundable.

 

The process of citizenship application via the NTF investment option follows the below steps:

 

  • The investor signs the NTF agreement and, with the assistance of Turnstone Advisory, prepares all necessary application forms for submission to Grenada’s Citizenship by Investment Committee (CBIC)

 

  • Along with the application, the client remits all applicable fees to an escrow account.

 

  • The CBIC verifies the receipt of the aforementioned payments and conducts its due diligence and finally notifies the applicant’s authorized representative of its decision.

 

  • The CBIC then sends successful applicants a formal request for the remaining contribution balance.

 

  • Once the applicant has remitted all outstanding funds, the CBIC issues a Certificate of Citizenship, which in turn is used to obtain a passport.

Real Estate Investment

Only CBIC-approved real estate is eligible for citizenship application purposes. For a list of approved real estate projects, visit http://www.cbi.gov.gd/grenada-real-estate/

 

Applicants must enter into a contract to purchase real estate valued at no less than US$350,000. To secure the property only the reserve amount (which is set by the developer) must be paid before submission of the application.

Application Fees

Beyond the National Transformation Fund contribution or real estate investment, applicants must pay government, application, due diligence and processing fees as detailed in the table:

Real Estate – Government Fee

 

For real estate investments, the government fee for a principal application and up to four dependants amounts to US$50,000 and an additional US$25,000 for each dependent beyond this.

Fees in USD Application Processing Due Diligence
Principle Applicant $1,500 $1,500 $5,000
Dependant Aged 18 & up $1,500 $1,500 $5,000
Dependant Aged 12 to 17 $1,500 $500 $2,000
Dependant Aged under 12 $1,500 $500 $N/A

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