Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies. Unspoilt and exotic, it astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices.
Grenada’s proximity to the Equator ensures a year-round tropical climate, with average temperatures ranging between 23 and 28 °C. Its cooling trade winds offer very comfortable conditions.
Grenada’s population is highly educated and has a very high literacy rate. St George’s University hosts 6,000 students from over 140 countries, offers faculties of Medicine and Veterinary Science, and has been operating for thirty-five years. In addition, a full medical teaching hospital will be developed in the near future.
Grenada is a Commonwealth realm with Queen Elizabeth II as head of state, represented locally by a Governor-General.
Grenada’s Citizenship by Investment Programme allows individuals and their families to obtain citizenship or permanent residence. Applicants must apply through licensed agents, and may not make submissions to the Government on their own behalf.
The Citizenship by Investment Programme came into being in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ The stated objective of the Act is to “enable persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada.”
Applicants may only make two types of investments to obtain citizenship or permanent residence:
The National Transformation Fund was established under section 43(1)(a) of the Public Finance Management Act Cap 262B, and is responsible for funding Government-sponsored projects in Grenada. ‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as “a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee.”
Individuals who choose to apply for citizenship under Grenada’s Citizenship by Investment Programme may take advantage of the following:
The application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process. These checks are performed by an authorised due-diligence agency.
Grenadian citizens can gain quick access to the US as an entrepreneur with the E-2 visa. On tops of freedom of mobility, immigrating to and living in a stable country such as the USA is the key point to investors after the pandemic.
Individuals who obtain citizenship through Grenada’s Citizenship by Investment Programme are entitled to the same rights as any other Grenadian citizen. These include the right to live and work in Grenada at all times, and all the rights associated with membership of the Caribbean Community (CARICOM).
Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children, and dependent parents. Children and young adults may obtain preferred access, and in some cases grants, to top schools and universities. Grenada is home to St. George's University, one of the best American off-shore univertities. It has the finest medical, veterinary and arts & science schools. Graduates train in some of the top hospitals in the US and UK. St. George's is internationally accredited and currently has 6,000 from over 140 countries.
Grenada has no foreign income, wealth, gift, inheritance, or capital gains tax. There is no restriction on the repatriation of profits and imported capital. Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance. Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD). Lastly, there is duty-free trading in the Caribbean.
Grenadian citizens can travel without visa restrictions to more than 143 international and Commonwealth countries. These include the United Kingdom and all other members of the European Union, and important business hubs such as Singapore and Hong Kong. Grenada is one of very few nations whose citizens can travel to the People’s Republic of China without first obtaining a visa.
The following are the costs and fees associated with citizenship by investment in Grenada:
Investment Migration Council (IMC) is the leading global association for investment-related migration. As an IMC member, GLI stays up-to-date on the latest trends and developments in this field through continuous education and training courses. We are committed to the highest professional standards and enhancing the respectability of the industry overall.