Being globally mobile is now not just a nice-to-have, it’s becoming a must-have. If you have family scattered across the globe, it’s imperative to be able to travel at the drop of a hat. Sarah Young delves into how the Grenada citizenship-by-investment programme can help you achieve this.

Grenada Citizenship by Investment

When the phone rings at 02:00 with the words, “Mum, Dad, I need you”, are you able to drop everything and dash to the airport without a second thought?

Unfortunately, it’s not always that easy. Especially if your passport ranks low on the global mobility spectrum and you require valid visas to travel to reach your loved ones.

Increasing your global mobility therefore becomes key and it’s not as difficult as you may think. The Grenada citizenship-by-investment programme, which was launched in 1996, and then updated in 2013, offers incredible visa-free access to 148 countries, with superior stay rights in the UK for tourism purposes. You can spend up to six months out of every 12-month period in the UK, and 90 days out of 180 days in the Schengen area. 

Sable International’s Residency and Citizenship-by-Investment team can guide you through the entire process from preparing and starting an application, up until you have your Grenadian passports in your hand.

Why choose the Grenada citizenship-by-investment programme

Known as the Isle of Spice, Grenada is an independent country located within the south-eastern Caribbean and outside of the hurricane belt. With a stable democracy and few political or social issues, it is one of the safest and friendliest islands in the Caribbean. 

The Grenada citizenship-by-investment programme is an attractive second citizenship and passport solution which can be secured without a relocation from your home country. In fact, the whole process can be conducted remotely and there is no need for you to travel to Grenada before, during or after your citizenship has been granted. Grenadian passport holders currently enjoy visa-free travel for leisure purposes to 148-countries including the UK, the Schengen area, China, Hong Kong and Singapore.

Armed with a Grenadian passport, these destinations not only seem more enticing, but they are readily accessible at the drop of a hat.

While there is no obligation to travel to Grenada, most investors are keen to experience in person the plethora of lush, tropical forests, stunning waterfalls, and gorgeous sandy beaches on offer. While you may simply be looking to enjoy this island paradise as a holiday destination, it is important to note that Grenadian citizenship does also grant you the rights to live, work, study and/or retire there too.

Not only that, but as members of the CARICOM, Grenadian citizens can also live and work in Antigua and Barbuda, Dominica, Saint Lucia, Saint Kitts and Nevis and Saint Vincent and the Grenadines.

See also: Does the EU want to end all Golden Visas?

Key benefits of the Grenada citizenship-by-investment programme

  • An expedited route to a second citizenship with the process only taking approximately seven to nine months from start to finish. 
  • Visa-free travel to 148 countries including the UK, the Schengen Area, China, Hong Kong, and Singapore.
  • Secure Grenadian passports for your whole family. The main applicant can add a spouse, minor children, financially dependent children under the age of 29, dependent parents and grandparents. Siblings of the main applicant and spouse can also be included provided they are not married and do not have children.
  • Grenadian citizenship can be passed on to future generations in perpetuity.
  • Optional relocation to Grenada at any time with full rights to live, work, study and retire. Full residency and working rights also extend to Antigua and Barbuda, Dominica, Saint Lucia, Saint Kitts and Nevis and Saint Vincent and the Grenadines.
  • Safe and friendly with a year-round tropical climate.
  • For those looking to relocate, Grenada offers an attractive tax regime and is tax-free in terms of worldwide income, capital gains, inheritance and net-wealth tax.
  • Grenada allows dual citizenship.

The investment nitty-gritty

To qualify for Grenadian citizenship-by-investment, the main applicant must be older than 18 years old, have a clean criminal record, excellent health, and must meet the stringent due diligence requirements of the programme.

There are two different investment paths, each with its own financial requirement.

NTF donation

The NTF donation path requires a minimum non-refundable donation of $150,000 to the Grenada National Transformation Fund (NTF) for a single applicant. For a nuclear family of two to four members, the minimum donation amount is $200,000. Additional donation amounts are levied on parents, grandparents and siblings added to an application.

The total cost of the NTF donation route is approximately $260,000 per family of four inclusive of additional due diligence fees, application fees, processing fees, professional fees, interview fees and passport fees.

The NTF donation route affords no return of capital and no possible ROI. It is a straightforward monetary contribution.

Real estate investment

The more popular investment option is to invest $220,000 into a government-approved real estate development. These projects are typically not stand-alone properties but are developments such as hotels, villas, and resorts which in part aids the growth of the tourism industry and a rising demand for tourist housing facilities. This also allows the government to drive the foreign direct investment, generated by the programme, into projects which also yield a substantial number of job opportunities for Grenadian nationals.

In addition to the real estate investment there is a further non-refundable government contribution to be paid which totals $50,000 for the main applicant and up to three dependants. Additional donation amounts are levied on parents, grandparents and siblings added to an application.

The total cost of the real estate path is approximately $340,000 per family of four, inclusive of additional due diligence fees, application fees, processing fees, professional fees, interview fees and passport fees.

While the real estate route requires a larger financial outlay from the beginning, it offers investors the opportunity to earn a return on investment and the investment can be liquidated and sold after a five-year holding period. Some investors can also enjoy the property for seven days of the year.

If you’re interested in hearing more about the Grenada citizenship-by-investment programme, get in touch with Sarah Young, our Investment Migration Manager at im@sableinternational.com or call her on +27 (0) 21 657 1584.

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