Citizenship by Investment in Grenada
|Population Growth: 0.46% :||111,219|
|GDP (per capita) :||14,100 USD|
|GDP (purchasing power parity) :||1.511billion USD|
|Visa free countries :||120|
|LOCATION :||Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, north of Trinidad and Tobago|
|CAPITAL :||Saint George's|
|TOTAL AREA :||344 sq. km.|
|AGE DEMOGRAPHICS :||0-14: 24.15%, 15-24: 15.55%, 25-54: 40.36%, 55-64: 10.10%, 65+: 9.84%|
|LANGUAGE :||English (official), French patois|
|RELIGIONS :||Roman Catholic: 44.6%, Protestant: 43.5% (includes Anglican: 11.5%, Pentecostal: 11.3%, Seventh Day Adventist: 10.5%, Baptist: 2.9%, Church of God: 2.6%, Methodist: 1.8%, Evangelical: 1.6%, Other: 1.3%), Jehovah's Witness: 1.1%, Rastafarian: 1.1%, Other: 6.2%, None: 3.6%|
|GOVERNMENT TYPE :||Parliamentary democracy (Parliament) and Commonwealth realm|
|CURRENCY :||East Caribbean dollars (XCD), tied to USD|
|EXCHANGE RATE :||1 USD = 2.7 XCD|
Popularly known as the Spice Island for its myriad locally grown spices, Grenada offers one of the most picturesque waterfronts in all the Caribbean. The sublime scenery is just one of the many reasons to visit the three beautiful main islands. Diving, sailing, excellent restaurants, fabulous beaches, and a calendar of unforgettable festivities have fortified Grenada’s status as the preferred destination of many high net worth investors.
WHY CHOOSE GRENADA?
Grenada recognizes dual citizenship, meaning investors can still benefit from their current passports. The Grenadian Citizenship by Investment Program offers the following prime benefits:
- Fast processing within four months.
- Inclusion of dependent children under 25.
- Inclusion of dependent parents over 65.
- No physical residency requirements.
- No requirement to travel to Grenada during the application process.
- No interview, education or managerial experience required.
- Visa-free travel to more than 100 countries, including Europe’s Schengen zone
- E-2 Visa Program signed between Grenada and the United States allows citizens of Grenada to operate a substantial business in the U.S. and reside therein.
- No tax on worldwide income.
The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. Grenada’s pilot scheme allows qualified investors and their family members to apply for citizenship and benefit from visa-free travel.
In recent years tourism has become the leading sector for foreign direct investments in Grenada. Another service sector on the rise is the offshore financial industry, which together with strong performances in construction and manufacturing, have also contributed to growth in national output.
As part of its strategy to attract foreign direct investment, the Grenadian government is working closely with a select number of businesses related to tourism, agriculture and manufacturing. Through the implementation of the program, the government also hopes to create investment opportunities that will bring about sustainable employment.
To qualify for citizenship, applicants must fulfill one of the investment options below in addition to the following criteria:
- Be of outstanding character.
- Hold no criminal record.
- Have excellent health.
- Have a high personal net worth.
1. Real Estate Investment
With its economy shifting from agricultural-dominant to service-dominant, one of the most viable options for foreign nationals is investment in a pre-approved real estate project.
The Mount Cinnamon Resort is situated on a lush hillside on almost two miles of the Grand Anse beach, which is recognized by many as one of the most beautiful beaches in the world. Looking towards the historic capital of St. George’s, the resort sets the tone for an irresistibly elegant, yet intimate, relaxed beach hideaway. An award-winning destination, Mount Cinnamon is the most successful development under Grenada’s Citizenship by Investment Program, having attracted more than 80 per cent of all investment applications. Comprising 22 gorgeous, privately owned villas on 23 acres of freehold land, Mount Cinnamon is currently adding 250 new residences as well as new luxury facilities thanks to the CBI Program. Investors may sojourn at the resort for a period of 10 days per calendar year.
Applicants must invest a minimum of US$350,000, which must be maintained for a minimum of four years. This reduced investment amount means our valued investors take on less risk. The minimum amount includes the main applicant, main applicant’s spouse and two qualifying dependents. An extra US$25,000 is required for each additional dependent.
The opportunity to own shares of Mount Cinnamon is an invitation to become a citizen of Grenada, begin a long and fruitful relationship with the island and its culture, and contribute to its future.
2. National Transformation Fund Donation
Applicants may donate a minimum of US$200,000 to Grenada’s National Transformation Fund. The minimum amount includes the main applicant, main applicant’s spouse and two qualifying dependents. An extra donation of US$25,000 is required for each additional dependent.