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Grenada - How To Get A Second Passport

Grenada Citizenship By Investment Program is for high net worth individuals interested in protecting their wealth now, and in the future.

Discover Grenada, Carriacou and Petite Martinique, a hidden gem with unspoiled beauty lovingly known as the Spice of the Caribbean. 

Grenada is a colourful nation offering unspoiled beaches and rainforests and its economy is driven by agriculture and tourism. Grenada is the only Caribbean Island that offers successful applicants of the citizenship program an opportunity to relocate to the US under the E2- Treaty visa.

 

Grenada

Grenada is an island country in the West Indies in the Caribbean Sea at the southern end of the Grenadines island chain. It is located northwest of Trinidad and Tobago, northeast of Venezuela and southwest of Saint Vincent and the Grenadines. and it had an estimated population of 112,523 in July 2020. Its capital is St. George's.

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 Passport

The Grenada Citizenship by Investment Committee (CBIC) is the Government body responsible for overseeing the processing of applications for citizenship by investment. 

The CBIC assesses each application in accordance with the Grenada Citizenship by Investment Act, 2013. It then makes recommendations to the Minister, who has the final say on whether to approve, deny, or delay the granting of Grenadian citizenship.

Grenada´s citizenship has quickly become known as one of the best citizenship programs in the world offering a fast-track process where applicants can obtain a passport in 3-4 months. Grenada has won the award for best international citizenship program.

 

The Benefits Of Having A Passport From Grenada  

Enhanced global mobility – The Grenada 2nd passport grants its holder visa-free travel to 144 destinations worldwide including the Schengen Area, Russia, UK, and China. It is ranked as the 33rd most powerful passport in the world.

Simple, and quick, process – The Grenada passport requirements are simple and straightforward, and there is no need for you to immigrate to Grenada or have Grenada residency prior to applying. An investor and their families can get citizenship by investment in Grenada in approximately 3 months. 

Adding family members – The Grenada citizenship by investment program allows investors to add family members such as their spouse, dependent children below the age of 30, dependent parents & grandparents, and dependent unmarried siblings above 18 years of age.

 

What Happens In Grenada When You Buy Your Citizenship?

The government started this CBI to create investment opportunities to attract high net worth investors, and improve the country’s economic standing by creating substantial business, sustainable employment opportunities, and environmental security. 

 

Citizenship Requirement and Eligibility

You will need to follow these requirements,

The primary applicant must: 

  • Be over 18 years old
  • Have an outstanding character
  • Be in good health
  • Hold a clean criminal record
  • Pass a background check
  • Provide proof of funds, which must be legal income

 

Application Processing Time

What is great about Grenada CBI is that it is an extremely fast citizen application process. Once your application has been submitted and approved, you will be able to get your citizenship processed in as little as 90 days. 

 

Grenada Citizenship By Investment Program

The Grenada CBI program is extremely affordable, with 2 investment options. The Grenada National Transformation Fund (FTF) or the Pre-approved real estate project route. Here they are detailed:

 

National Transformation Fund (NTF)

NTF Donation

Inidividual Applicant

Main Applicant - Spouse

Family of 4 family members`

Family over 4 family members

Required Contribution Amount

USD $150,000

USD $200,000

USD $200,000

USD $200,000 plus USD $25,000 per additional dependant after the 3rd dependant

*Legal Fees and additional expenses are not included in these Investment Options

 

Real Estate

The cost of the Grenada passport through purchasing real estate is a minimum of USD 350,000 in addition to a smaller contribution amount and the aforementioned processing, application, and due diligence fees. An applicant can resell their property after 5 years of getting their citizenship, making this a great option for those who want to recoup the bulk of their investment amount. 

NTF Donation

Inidividual Applicant

Main Applicant - Spouse

Family of 4 members

Family over 4 members

Required Contribution Amount

USD $350,000

USD $350,000

USD $350,000

USD $350,000

Government Fee

USD $50,000

USD $50,000

USD $50,000

USD $50,000 plus USD $25,000 per additional dependant after the 3rd dependant

*Legal Fees and additional expenses are not included in these Investment Options

 

Translation And Certification Of Documents

Documents that are not written in English must be accompanied, when the application is submitted, with a certified translation into English. 

When a document needs to be produced to support the CBI application, then it must be certified and authenticated in accordance with the law of the jurisdiction from which the document originates.

 

Tax Considerations

Favourable tax scheme – Grenada citizens enjoy a lax tax regime. Those who get Grenada investment citizenship are not subject to worldwide income tax, inheritance tax, or net wealth tax. Grenada does tax their tax residents if you source your income from within the territories.

Handpicked related content: Montenegro - How To Get A Second Passport

 

Conclusion

If you are a high net worth individual and are looking to set up a Plan-B option for you and your family then the Grenada Citizenship by Investment Program is for you. This program is one of the most well-utilized wealth protection concepts that we use for our clients at Expat Money.  

Every day we get a call regarding second residencies and second passports and those numbers are coming in faster day by day. Grenada has an amazing program and with our assistance here at Expat Money, you could possibly have your new passport in as little as 3 months.

 

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WORK WITH ME

I help my clients to move offshore for freedom, privacy and autonomy by focusing on the immigration, legal, and tax issues that you will face when becoming an expat. If you would like to work one-on-one with me on getting out of Canada or the USA (or setting up a Plan-B location), then read this important letter and fill in an application form to become a Private Client. My fees are not cheap; however, I can assure you that when you work with a professional firm like ours, the results will be worth it.

Mikkel Thorup

Written by Mikkel Thorup

Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money™, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money.

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