Grenada Obtaining Citizenship Requirements:
In order to protect its people and Grenada’s international standing, the Government of Grenada will only grant citizenship to individuals who are truly deserving of that honour. Therefore, the Grenada Obtaining Citizenship Requirements must be clearly recognised.
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For clients looking for further details on the following topics, please continue to read on:
Grenada Citizenship by Investment, CBI Investment, CBI Grenada, CBI Real Estate, CBI Property for sale, CBI Real Estate for sale, Citizenship by Investment Grenada, Property Investments in Grenada or Real Estate investments in Grenada.
Therefore, the Government will deny the application of any applicant who:
◾Provides false information on his or her application form;
◾Has at any time previously been convicted in any country of an offence for which the maximum custodial penalty for the same or similar offence in Grenada is in excess of six months imprisonment (unless he or she received a free pardon);
◾Is the subject of a criminal investigation;
◾Is considered to be a potential national security risk to Grenada or to any other country;
◾Is involved in any activity likely to cause disrepute to Grenada; or
◾Has been denied a visa to a country with which Grenada has visa-free travel and who has not subsequently obtained a visa to the country that issued the denial
Moreover, the main applicant must demonstrate that he or she:
◾Is at least eighteen years old;
◾Is in good health; and
◾Has enough funds to make the required investment. The source of these funds must be legal.
In order to ensure that the requirements listed above are fully adhered to, the Government of Grenada subjects each applicant to strict due diligence procedures. Moreover, each applicant must supplement his or her application with supporting documents. These include, but are not limited to, original or certified copies of:
◾A certificate by a medical practitioner, indicating that the main applicant and his or her applying family members are not suffering from any communicable disease and that they are otherwise in good health; and
◾A police certificate.
Routes to Citizenship - Contribution or Investment:
In addition to fulfilling the personal requirements listed above, applicants must also choose between two potential routes for citizenship. These are:
◾A contribution to the National Transformation Fund; and
◾An investment in an approved project (real estate) in Grenada.
The National Transformation Fund (NTF):
The National Transformation Fund (NTF) is a Government fund responsible for financing projects that will benefit Grenada’s economy and help its diversification.
Applicants who choose this route must make a one-time contribution to the NTF. It is important to note that applicants may not contribute to the NTF in person, but rather that they must use the services of an Authorised Local Agent.
Under the NTF route, applicants may either immediately apply for citizenship, or first apply for permanent residence and apply for citizenship at a later stage.
Please refer to your Authorised Local Agent for more information on the NTF route and the criteria that applicants must fulfil.
Approved Project (Real Estate) in Grenada:
The process of approving a project for the purposes of citizenship by investment begins with the Citizenship by Investment Committee, which reviews viable projects and recommends them to the Minister. The Minister then decides whether to approve the project, and publishes his or her approval in the Gazette.
Currently, the vast majority of approved project consists of real estate developments on the island of Grenada. These include luxury hotels, resorts, and villas.
Applicants who choose to invest in an approved project must make the investment through an Authorised Local Agent. Investments in real estate must be maintained for at least three years from the date on which citizenship is granted.
Please refer to your Authorised Local Agent for more information on the approved projects route and the criteria that applicants must fulfil.
Under both the NTF route and the approved project (real estate) route, the contribution or investment must be accompanies by application, due diligence, processing, and – in the case of approved projects only, government fees.
One of the options available to applicants seeking to obtain citizenship by investment in Grenada is to invest in a Government-approved project. Currently, these projects encompass real estate developments such as hotels, villas, and resorts. Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns.
Applicants opting for the approved project (real estate) route must invest at least US$350,000. They must keep the real estate for at least three years following the grant of citizenship. The following chart highlights the costs and fees associated with this route.
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