Grenada

GRENADA

Grenada’s Citizenship by Investment program is one of the most affordable ones for parents applying with children. It also has one of the fastest turnaround times from application to citizenship – usually within just 60 days!

Grenada At-A-Glance

The island nation of Grenada is politically, socially, and economically stable, with a high standard of living.

English is the official language in Grenada, and its economy flourishes through tourism, hospitality, spice and cocoa cultivation.

Citizenship Programs

Grenada’s Citizenship-by-Investment Program requires applicants to choose one of the following two options:

Option 1:

The National Transformation Fund (NTF) – A non-refundable charitable donation of at least US $200,000 to the National Transformation Fund(NTF) for a single person + payment of certain fees (see below), in addition to legal and passport fees.

Fees and Costs

NTF Contributions:
US $200,000 for a single Applicant.
US $200,000 for an applicant with up to 3 dependents.
US $200,000 plus US $25000 for each dependent if there are more than 3 dependents.

Application Fees:
US $1,500 per person

Due Diligence Fees:
US $5,000 for main applicant +3 dependents
In case of more than 3 dependents, US $5,000 per extra dependent who is 16 years or older or US $2,000 per dependent who is aged 12-15

Processing Fees:
US $1,500 per person.
(if dependents are up to 17 years old, fees are US $500)

Option 2:

Real Estate Investment – Under the real estate option, individuals must invest a minimum of US $350,000 in government-approved real estate. Applicants cannot sell the property for at least 3 years after acquiring Grenadian citizenship.

Fees and Costs

On top of the US $350,000 real estate investment, the following fees are applicable –
US $50,000 government fees (main applicant with 3 dependents). If there are more than 3 dependents, there is an additional charge of US $25,000 per dependent.
US $1,500 application fees per person.
US $1,500 processing fees per person (If dependents are up to 17 years old fees are US $500).
US $5,000 due diligence fees for a main applicant + 3 dependents.
For more than 3 dependents, US $5,000 due diligence fees extra per dependent (if older than 16 years) or US $2,000 (if 12-15 years old.).

Other fees payable include legal and passport fees, as well as property purchase fees, where applicable.

Cover_of_Grenadian_Passport-t35c

Benefits

  • The turnaround time from application to citizenship is usually within 60 days, making Grenada’s program very appealing due to its speed. There is no interview or English language requirement. Nor, are there any country restrictions, which includes Iran, Iraq, Syria and Afghanistan.
  • Citizenship in Grenada is for life, without the requirement to reside in Grenada before, during, or after the application. You can also maintain dual citizenship and pass your citizenship to future generations by descent.
  • Citizens of Grenada gain protection and support from any EU consulate globally, and freedom to live, work and travel in all EU countries. You can travel visa-free to 120 countries and territories, and also gain the chance to apply for a United States E2 Visa for entrepreneurial activity with Grenadian citizenship.

Taxation

  • A low tax regime, Grenada safeguards citizens from foreign income tax, capital gains tax and inheritance tax.

Application Process

Basic Steps In The Application Process

Step 1

Prepare your application with all of the required documents (see below) and submit the actual application.

Step 2

Government processing of the application and due diligence checks will occur, which takes about 3 months for completion.

Step 3

You will receive approval in principle.

Step 4

You will need to invest in real estate or donate to the NTF, after which you will receive your citizenship certificate.

Step 5

You will apply for and receive your passport.

Documents required for citizenship application:

Annex 1 – Registration of Electronic Signature;
Annex 2 – Family Members;
Annex 3 – Application Form;
Annex 3 Supplement – Particulars related to applicants;
Annex 4 – Privacy and Information Release Form;
Annex 5 – Criminal Record Verification Form;
Annex 6 – Birth or Adoption Records;
Annex 7 – Verification of Support of Dependents over the age of 11;
Annex 8 – Medical Health Certification;
Annex 9 – Statement of Source of Funds;
Education History/Employment History;
Application Checklist – Schedule II Form 1;
Know Your Client Form;
Application for a Grenadian Passport Form;
Ten (10) current passport size photographs in colour per applicant. Passport pictures MUST be in colour. Applicant’s ears MUST be visible and the forehead and hair must NOT be covered. Pictures must be recent;
Colour copy of ALL passports possessed (first 3 and last 3 pages of each);
Colour copy of ALL current national identity cards;
Certified copies of marriage and divorce certificates (if applicable);
Original Professional Reference – It MUST be current, and, in any case, not older than six (6) months. And, it MUST appear on the official letterhead of a professional bank or firm. It should be addressed to: CHIEF EXECUTIVE OFFICER, GRENADA CITIZENSHIP BY INVESTMENT, P. O. BOX 298, BURNS POINT, THE CARENAGE, ST. GEORGE’S, GRENADA, W.I.
Original Bank Reference (same requirements explained for professional references apply).
Résumé or CV – To go along with the Education History and Employment History. Applicants MUST disclose all business affiliations.
Affidavits (as Supplement to Annex 7): In support of each dependent over the age of 18 except the spouse; and/or in support of Dependent-Parent or Dependent-Child, as applicable.
Certified college or university transcripts for children at least 18 years of age and less than 26 years of age (if applicable);
Original Police Certificate or Criminal Records Verification (Annex 5): Police certificates MUST be provided for ALL applicants and family members, except dependents who are under the age of sixteen (16); Police certificates MUST be less than 6 months old.
Original or certified Birth Certificate or Adoption Records (Annex 6):
The applicant MUST submit documents to support any change of name;
Affidavit of Support of Dependent-Children – Annex 7 Supplement;
Medical Health Certification (Annex 8): Submit HIV test results;
Statement of Source of Funds (Annex 9): Proof of the source of funds is required. This may include bank statements, pay slips, job letters, company certificates and incorporation documents to support business activities from which the source is generated, business assets, real estate holdings or proofs of dispositions of same, etc. Please ensure that these documents are originals, or that copies are certified;
Proof of Address – Original document proving applicant’s residential address, such as a utility bill, bank statement or written confirmation from a bank, an attorney, a chartered accountant or public notary confirming the applicant’s address.

NOTE: This list is not exhaustive, and other documents may have to be provided by the applicant(s), depending on their particular case(s). These documents may include company incorporation and good standing certifications, ownership or title documents in support of SOF explanations, or any other type of document in support of the applicant’s statements made on the application forms.

Other Documents Required  
Professional Services Agreement to be executed by the client and NTL.
Power of Attorney granted by the Investor in favour of NTL (wording provided by NTL).

Our executives and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

Non-EU investors and their families may gain Cypriot citizenship through a program called ‘Naturalisation by Exception’, which is one of a few citizenship-by-investment programs allowing rapid entry into the European Union. Under this program, there are two available options:

Option 1: An investment of €2 million in residential real estate in Cyprus
The investment in residential real estate must be retained for a minimum period of 3 years. At the end of the 3-year period the investment can be reduced to a €500,000 residential property, which should be held indefinitely. The applicant can make multiple property purchases, as long as the total value of €2 million is retained for 3 years, and as long as the total value of the residential property owned indefinitely in Cyprus remains equal to or above €500,000.

Option 2: An investment of €2 million in a combination of real estate and/or financial investments:
A 3-year investment of €2 million in one or more of the following:
1. Interest-bearing Cypriot government bonds, provided the investment does not exceed €500,000.
2. ‘Eligible real estate’ situated in Cyprus, namely a) Residential; b) Commercial; c) Infrastructure; d) Land (provided there is a development plan in place).
3. Creation, acquisition or participation in a Cypriot company or business where the applicant is a majority shareholder, while employing 5 Cypriot or EU nationals who have and been residents of in Cyprus for a duration of 5 years prior to filing the citizenship application.
4. The Alternative Investment Fund or financial assets of a Cypriot entity licensed by the Cyprus Securities and Exchange Commission (CySec).

Take the quickest route to European Citizenship:

  • 3 months – by opting for Cypriot citizenship. As a citizen of Cyprus, you are automatically a citizen of the European Union (EU) and entitled to consular protection and support from any EU consulate globally and the freedom to live, work and travel in all EU countries.
  • The Cypriot passport allows visa-free travel to 157 countries worldwide, including the E.U., U.K. and Canada.
  • You can trade freely across all 28 EU countries an a market of over 500 million people.
  • You gain freedom to study in schools or universities across the EU for free, or at discounted rates.
  • Cyprus has one of the lowest taxation rates in Europe, with no foreign income tax, inheritance tax or withholding tax on interest earned.
  • This citizenship program is open to all nationalities. There are no language test requirements.
  • Dual citizenship is permitted.
  • And, dependents, spouse and children under the age of 28 can conveniently be included in one single citizenship application.

In 2015, the Cypriot government introduced a package of measures to encourage international investment and residence from high net-worth investors. Non-domiciled Investors (those who acquire residency but choose not to live in Cyprus) will be exempt from taxation in Cyprus for personal investment income, including dividends and interest. They will pay zero tax in Cyprus, irrespective of whether the income is earned in Cyprus or abroad. There is no inheritance tax. Cyprus also has one of the lowest corporate tax rates in Europe at just 12.5%

Acquisition of Cyprus citizenship is the fastest among the EU countries and involves purchase of real estate. It is completed usually within 3 months.

Step 1: Application preparation with all of the required documents.
Step 2: Purchase of real estate. The firm will prepare all documents, run due diligence on the property chosen, sign the sale agreement, lodge them at the land registry and pay the purchase price.
Step 3: Citizenship application submission and qualified investment made in escrow account.
Step 4: Processing of the application.
Step 5: Approval in principle.
Step 6: Payment of government fees and release of investment.
Step 7: Issuance of citizenship certificate.
Step 8: Passport application, biometrics registration and passport issuance.

Our executives and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

FEES

Lawyers’ fees will apply for the processing of the citizenship application and the purchase of the property, and typically amount to around €20,000 for a family of three. Government processing and application fees for a family of three would amount to €17,000.

REGISTER





CITIZENSHIP PROGRAM

For the Citizenship-by-Investment Program, the government requires applicants to choose one of the following two options:

Option 1: The National Transformation Fund (NTF)
A non-refundable charitable donation of at least US $200,000 to the National Transformation Fund(NTF) for a single person + payment of certain fees (see below).

Fees and costs:

NTF Contributions:

  • US $200,000 for a single Applicant.
  • US $200,000 for an applicant with up to 3 dependents.
  • US $200,000 plus US $25000 for each dependent if there are more than 3 dependents.

Other Fees

Application fees are: US $1,500 per person

Due Diligence fees are
US $5,000 for main applicant +3 dependents

In case of more than 3 dependents
US $5,000 per extra dependent who is 16 years or older or US $2,000 per dependent who is aged 12-15

Processing fees are: US $1,500 per person

(If dependents are up to 17 years old, fees are US $500)

Other fees payable include legal fees and passport fees. Fees are subject to change


Option 2: Real estate investment

Under the real estate option, individuals must invest a minimum of US$ 350,000 in government-approved real estate. Applicants cannot sell the property for at least 3 years after acquiring Grenadian citizenship.

Fees and costs:

On top of the US $350,000 real estate investment, there are the following applicable fees:

  • US $50,000 government fees (main applicant with 3 dependents). If there are more than 3 dependents, there is an additional charge of US $25,000 per dependent.
  • US $1,500 application fees per person.
  • US $1,500 processing fees per person (If dependents are up to 17 years old fees are US $500).
  • US $5,000 due diligence fees for a main applicant + 3 dependents.
  • For more than 3 dependents, US $5,000 due diligence fees extra per dependent (if older than 16 years) or US $2,000 (if 12-15 years old.).

Other fees payable include legal fees, passport fees, and property purchase fees, where applicable. Fees are subject to change.

BENEFITS

  • Citizenship for life, however, it is not compulsory to reside in Grenada before, during, or after the application.
  • The ability to pass one’s citizenship to future generations by descent.
  • Protection and support from any EU consulate globally, and freedom to live, work and travel in all EU countries.
  • The opportunity to maintain dual citizenship, if so desired.
  • Lowest capital requirement compared to the other Caribbean citizenship programs in St. Kitts and Nevis, Antigua and Barbuda, and St. Lucia.
  • Family-friendliness, including affordable processing and due diligence fees for spouses and family members.
  • No minimum level of English requirement.
  • No interview requirement.
  • Visa-Free travel to 120 countries and territories, including the European Union, the Schengen region, the United Kingdom and China.
  • The chance to apply for a United States E2 Visa for entrepreneurial activity.
  • A low tax regime, safeguarding citizens from, for example, foreign income tax, capital gains tax, and inheritance tax.
  • Fastest turnaround from application to citizenship – usually completed in 60 days.
  • No country restrictions (includes Iran, Iraq, Afghanistan, Syria).

APPLICATION PROCESS

  • Application preparation with all of the required documents (see below).
  • Submission of citizenship application.
  • Government processing of the application and due diligence checks, taking about 3 months for completion.
  • Approval in principle.
  • Investment in real estate or donation to the NTF.
  • Issuance of citizenship certificate.
  • Passport application and issuance.

Documents required for citizenship application: Please contact us and all necessary forms and assistance with documents will be provided to our clients.

    • Annex 1 – Registration of Electronic Signature;
    • Annex 2 – Family Members;
    • Annex 3 – Application Form;
    • Annex 3 Supplement – Particulars related to applicants;
    • Annex 4 – Privacy and Information Release Form;
    • Annex 5 – Criminal Record Verification Form;
    • Annex 6 – Birth or Adoption Records;
    • Annex 7 – Verification of Support of Dependents over the age of 11;
    • Annex 8 – Medical Health Certification;
    • Annex 9 – Statement of Source of Funds;
    • Education History/Employment History;
    • Application Checklist – Schedule II Form 1;
    • Know Your Client Form;
    • Application for a Grenadian Passport Form;
    • Ten (10) current passport size photographs in colour per applicant. Passport pictures MUST be in colour. Applicant’s ears MUST be visible and the forehead and hair must NOT be covered. Pictures must be recent;
    • Colour copy of ALL passports possessed (first 3 and last 3 pages of each);
    • Colour copy of ALL current national identity cards;
    • Certified copies of marriage and divorce certificates (if applicable);
    • Original professional reference:
      • It MUST be current, and, in any case, not older than six (6) months.
      • It MUST appear on the official letterhead of a professional bank or firm.
      • It should be addressed to: CHIEF EXECUTIVE OFFICER, GRENADA CITIZENSHIP BY INVESTMENT, P. O. BOX 298, BURNS POINT, THE CARENAGE, ST. GEORGE’S, GRENADA, W.I.
    • Original Bank Reference (same requirements explained for professional references apply);
    • Résumé or CV – To go along with the Education History and Employment History. Applicants MUST disclose all business affiliations.
    • Affidavits (as Supplement to Annex 7):
      • In support of each dependent over the age of 18 except the spouse; and/or.
      • In support of Dependent-Parent or Dependent-Child, as applicable.
    • Certified college or university transcripts for children at least 18 years of age and less than 26 years of age (if applicable);
    • Original Police Certificate or Criminal Records Verification (Annex 5):
      • Police certificates MUST be provided for ALL applicants and family members, except dependents who are under the age of sixteen (16);
      • Police certificates MUST be less than 6 months old.
    • Original or certified Birth Certificate or Adoption Records (Annex 6):
      • The applicant MUST submit documents to support any change of name;
      • Affidavit of Support of Dependent-Children – Annex 7 Supplement;
    • Medical Health Certification (Annex 8):
      • Submit HIV test results;
    • Statement of Source of Funds (Annex 9):
      • Proof of the source of funds is required. This may include bank statements, pay slips, job letters, company certificates and incorporation documents to support business activities from which the source is generated, business assets, real estate holdings or proofs of dispositions of same, etc. Please ensure that these documents are originals, or that copies are certified;
    • Proof of Address – Original document proving applicant’s residential address, such as a utility bill, bank statement or written confirmation from a bank, an attorney, a chartered accountant or public notary confirming the applicant’s address.

NOTE:This list is not exhaustive, and other documents may have to be provided by the applicant(s), depending on their particular case(s). These documents may include company incorporation and good standing certifications, ownership or title documents in support of SOF explanations, or any other type of document in support of the applicant’s statements made on the application forms.

OTHER DOCUMENTS

  • Professional Services Agreement to be executed by the client and NTL.
  • Power of Attorney granted by the Investor in favour of NTL (wording provided by NTL).

Our experienced consultants and immigration lawyers will manage the entire application process with document preparation and validation and all government formalities. We partner with the best real estate developers and agents and will arrange for the client to view the properties and get the best possible investment opportunities. Please contact us and our team will be delighted to assist you.

PROPERTIES


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