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Grenada - Citizenship by Investment


                  

Overview:

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.

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Legal Aspects:

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:

1. They must make “a payment into the National Transformation Fund;” or
2. They must make “a payment towards an approved project in Grenada”

The National Transformation Fund (NTF) 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.”

Benefits of Grenada's Citizenship by Investment Programme:

Individuals who choose to apply for citizenship under Grenada’s Citizenship by Investment Programme may take advantage of the following:
◾Minimal processing fees.
◾No interview, education, or management experience required.
◾No requirement to reside in Grenada before or after citizenship is granted.
◾Well-known, stable and established investment environment.

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.


Benefits of Grenadian Citiznehsip:

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.


Lifestyle Benefits:

Grenada offers its citizens social and political security, reinforced by its membership in the United Nations and the Commonwealth of Nations. Grenada’s local community is culturally vibrant, vivacious, and extremely friendly. Grenada has a long history, and locals are proud of their national heritage, which they celebrate throughout the year. Finally, Grenada is the perfect setting for both adventure and relaxation: its wildlife attractions, marine life, and national parks make it an exciting place to explore, while its super-yacht marina and pastel towns make it ideal for strolling and unwinding.


Business advantages of Grenadian Citizenship:

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.


International Benefits:

Grenadian citizens can travel without visa restrictions to more than 115 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.

 

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