Caribbean countries raise minimum investment thresholds for citizenship-by-investment programmes

At the 2024 World Economic Forum Annual meeting, it was determined that “war and conflict, polarised politics, a continued cost-of-living crisis and the ever-increasing impacts of a changing climate are destabilising the global order.”

One of the best ways to protect you and your family against the destabilisation is to secure your global freedom; to maximise your global mobility and to reduce your reliance upon one country and the rule of one state by securing a second citizenship and passport.

For many, securing a second citizenship and a second passport could therefore be just the golden ticket, and it may not be as difficult or as costly as you think.

Why choose the Grenada citizenship-by-investment programme

At Sable International we see tremendous value in the Grenada citizenship-by-investment programme, which was launched in 1996, and then updated in 2013.

Known as the Isle of Spice, Grenada is a Caribbean country with a stable democracy and few political or social issues, it is one of the safest and friendliest islands in the Caribbean.

Read more: From luxury to necessity: Grenada's citizenship-by-investment unlocks essential global mobility

Key benefits of the Grenada citizenship-by-investment programme

• An expedited route to a second citizenship within seven to nine months
• Visa-free travel to 148 countries including the UK, the Schengen Area, China and Singapore
• Secure Grenadian passports for your whole family
• Grenadian citizenship can be passed onto future generations
• No minimum-stay requirement
• Full residency and working rights across all four Caribbean nations  
• Safe and friendly with a year-round tropical climate
• For those looking to relocate, Grenada offers an attractive tax regime with no tax on worldwide income
• Grenada allows dual citizenship.
• Real estate investment option from USD 220,000, plus a USD 50,000 donation.
• Non-refundable donation from USD 150,000

Recent industry changes

Important recent industry developments to note are that in late March 2024, the Prime Minister of Grenada, along with the Prime Ministers of Antigua and Barbuda, Dominica, and Saint Kitts and Nevis, signed a Memorandum of Understanding that will see these four Caribbean States cooperate to address pricing, transparency standards, regulation, security screening and the regulation of agents promoting the programmes.

As it stands the minimum donation path amount for all four Caribbean countries will be raised to USD 200,000 from 1 July 2024, with industry analysts anticipating a price hike for real-estate investment option to USD 400,000 in the near future.

The real estate investment

The more popular investment option is to invest into a government-approved real estate development. Currently the minimum investment threshold is USD 220,000.

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 USD 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.

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.

NTF donation

The NTF donation path currently requires a minimum non-refundable donation of USD 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 USD 200,000. Additional donation amounts are levied on parents, grandparents and siblings added to an application. The NTF donation route affords no return of capital and no possible ROI. It is a straightforward monetary contribution.

There is still time to proceed with an application for Grenada citizenship-by-investment programme and via a real estate investment of USD 220,000. Interested parties are advised to proceed sooner rather than later to ensure that they have time to secure all of the necessary documents required for submission before the 30 June 2024 deadline.

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.