Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies. It astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices.
In addition to its scenery, Grenada offers culture, fun, and friendliness typical of the authentic Caribbean life – making Grenada the perfect place in which to live, work and play.
GEOGRAPHY AND CLIMATE
The nation of Grenada, measuring 344 km2, is composed of three key islands: Grenada and its sister islands Carriacou and Petite Martinique. Each is beautiful and rich in culture, historic sites, fresh culinary delights, and much more. Carriacou is only a 90-minute boat ride from St. George’s, the nation’s capital city.
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.
HISTORY AND CULTURE
Grenada was traditionally inhabited by Carib Indians who migrated from the South American mainland. The island was originally known as Camerhougue, but Christopher Columbus renamed it ‘Concepción Island’ when he visited it in 1498. Successive Spanish sailors found it to be so evocative of Andalucía’s green mountain scenery that they named it after the city of Granada. Grenada was a French and British colony, but gained independence from the United Kingdom on February 7, 1974.Grenada’s population is highly educated and has a very high literacy rate. St George’s University hosts 6,000 students from over 140 countries, offers faculties of Medicine and Veterinary Science, and has been operating for thirty-five years. In addition, a full medical teaching hospital will be developed in the near future.
Large-scale tourism is a recent phenomenon, and Grenada is largely undiscovered, and full of opportunity.
In the last twenty years, Grenada’s economy has shifted from agriculture to the provision of services. Its largest exports include nutmeg, of which Grenada is the world’s second-largest producer, cocoa beans, fish, and wheat flours. Core export destinations include the United States, Switzerland, Germany, the Netherlands, and Canada. Other spices produced for export include mace, cloves, and cinnamon. Exported fruits and vegetables include bananas and citrus fruits.
Grenada’s tourism sector is greatly expanding, with the island continuing to take more and more shares of the market for Caribbean tourism. Much of this expansion is due to foreign direct investment, as foreign business persons choose to invest in Grenada’s growing popularity with visitors and leisure travelers. The nation relies heavily on tourism to earn foreign currency.
THE MISSION FOR THE GRENADA CITIZENSHIP BY INVESTMENT PROGRAMME
The Grenada Citizenship by Investment Programme was designed to attract foreign direct investment into the nation, whilst also protecting the value of Grenadian citizenship and its reputation across the globe. At the Citizenship by Investment Committee they thoroughly review all applications, ensuring that the Citizenship by Investment Programme is kept exclusive to investors who will uphold the integrity, prestige, and honor of Grenadian citizenship, while also encouraging innovation, industry, and private enterprise on their wonderful country.
THE VISION FOR THE FUTURE OF GRENADA
Grenada’s Citizenship by Investment Programme has contributed significantly to the growth of the nation’s economy, and they expect it will continue to do so for many years to come. The inward investment it promotes has led to the creation of sustainable long-term employment, specialist training, and the general broadening of skills for numerous Grenadians. They aim to build a flourishing private investment market, and to watch the nation’s economy grow even more. Certainly, with its untouched nature, safe environment, and committed local workforce, Grenada is the ideal destination for individuals wishing to invest in tourism and other innovative ventures.
Program and Fees
Grenada’s Citizenship by Investment Programme allows individuals and their families to obtain citizenship or permanent residence. Applicants must apply through licensed agents and our lawyer is a licensed agent in Grenada and clients may not make submissions to the Government on their own behalf.
The Citizenship by Investment Programme came into being in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ The stated objective of the Act is to “enable persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada.”
Applicants may only make two types of investments to obtain citizenship or permanent residence:
- They must make “a payment into the National Transformation Fund;” or
- They must make “a payment towards an approved project in Grenada”
The National Transformation Fund (NTF) was established under section 43(1)(a) of the Public Finance Management Act Cap 262B, and is responsible for funding Government-sponsored projects in Grenada. ‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as “a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee.”
BENEFITS OF CHOOSING GRENADA’S CITIZENSHIP BY INVESTMENT PROGRAMME
Individuals who choose to apply for citizenship under Grenada’s Citizenship by Investment Programme may take advantage of the following:
- Minimal processing fees.
- Fastest turnaround from application to citizenship in approximately 60 days.
- No interview, education, or management experience required.
- No requirement to reside in Grenada before or after citizenship is granted.
- Well-known, stable and established investment environment.
The application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process. These checks are performed by an authorized due diligence agency.
BENEFITS OF GRENADIAN CITIZENSHIP
Individuals who obtain citizenship through Grenada’s Citizenship by Investment Programme are entitled to the same rights as any other Grenadian citizen. These include the right to live and work in Grenada at all times, and all the rights associated with membership of the Caribbean Community (CARICOM).
Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children, and dependent parents. Children and young adults may obtain preferred access, and in some cases grants, to top schools and universities.
Grenada offers its citizens social and political security, reinforced by its membership in the United Nations and the Commonwealth of Nations. Grenada’s local community is culturally vibrant, vivacious, and extremely friendly. Grenada has a long history, and locals are proud of their national heritage, which they celebrate throughout the year. Finally, Grenada is the perfect setting for both adventure and relaxation: its wildlife attractions, marine life, and national parks make it an exciting place to explore, while its super-yacht marina and pastel towns make it ideal for strolling and unwinding.
BUSINESS ADVANTAGES OF GRENADIAN CITIZENSHIP
Grenada has no foreign income, wealth, gift, inheritance, or capital gains tax. There is no restriction on the repatriation of profits and imported capital. Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits, and export allowance. Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD). Lastly, there is duty-free trading in the Caribbean.
Grenadian citizens can travel without visa restrictions to more than 121 international and Commonwealth countries. These include the United Kingdom and all other members of the European Union, and important business hubs such as Singapore and Hong Kong. Grenada is one of very few nations whose citizens can travel to the People’s Republic of China without first obtaining a visa.
BECOMING A CITIZEN
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 honor. 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
- Have 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 Authorized Local Agent and our lawyer is a Local Authorized 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.
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 projects consist 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 Authorized Local Agent and our lawyer is a Local Authorized Agent. Investments in real estate must be maintained for at least three years from the date on which citizenship is granted.
THE APPLICATION PROCESS
An applicant for citizenship must fulfill the personal requirements established under the Grenada Citizenship by Investment Act, 2013. Among other things, this means that he or she must be at least eighteen years old, have no criminal record, be in good health, and be willing to make the required contribution. A person who fulfils these requirements may then take the following steps:
The first step in applying for citizenship is our company will get with our Authorized International Marketing Agent who is our licensed agent for Grenada. Applications for citizenship may not be submitted directly to Grenada’s Citizenship by Investment Committee (CBIC) and must only be handled by agents. We contact our Authorized International Marketing Agent, who in turn will liaise with our licensed Authorized Local Agent.
An ‘Authorized International Marketing Agent’ is a trusted global marketer who is permitted to promote the Programme and who assists applicants along with the Authorized Local Agent. An ‘Authorized Local Agent’ is someone who has been granted a Local Agent’s license by the Minister and who is authorized to act on behalf of the main applicant with respect to his or her application.
The second step in an application for citizenship is our company contacting our Authorized Local Agent, whose role is to provide with assistance in preparing documents for submission to the CBIC. The applicant will need to complete official forms, attend a medical examination, and obtain certain supporting documents – all of which must be submitted in English and be appropriately legalized. If the applicant is purchasing real estate, this will need to be reserved through a sale and purchase agreement. The Authorized Local Agent will advise on the preparation of the documents and on how to have them legalized.
When all forms are complete, the Authorized Local Agent submits the application to the CBIC. The Authorized Local Agent then becomes responsible for liaising with the CBIC in relation to all correspondence, queries, or questions that may arise with respect to the applicant’s file. There is currently no mandatory interview requirement for the Grenada Citizenship by Investment Program.
Each application is vetted by the Government through a thorough due diligence background check, during which time submitted information is examined and verified. The CBIC considers application files in light of this due diligence check, and then issues a recommendation about the application. Final approval is in the hands of the Minister, who generally follows the CBIC’s recommendation. Upon the Minister making a decision, the applicant is issued a letter (through his or her Authorized Local Agent) detailing whether the application was successful, delayed for further processing, or rejected.
If the application is successful, the CBIC issues a letter instructing the applicant (through his or her Authorized Local Agent) to either make the contribution (for the NTF option) or complete the purchase of his or her real estate. If real estate is purchased, then the applicant must demonstrate completion, as well as the execution of all necessary documents. Upon receiving proof of payment, the CBIC issues the certificate of registration, establishing that the applicant has received Grenadian citizenship. Authorized Local Agents must use this certificate to apply for a Grenadian passport on behalf of the applicant.
GRENADA FEES: ON CONTRIBUTION METHOD TO GET CITIZENSHIP
- SINGLE APPLICANT = 200,000 USD
- MAIN APPPLICANT + SPOUSE = 200,000 USD
- FAMILY OF FOUR MEMBERS = 200,000 USD
- FAMILY OVER FOUR MEMBERS = 200,000 USD plus 25,000 USD per additional dependant after third dependant.
- 1500 USD X NUMBER OF PERSONS GETTING CITIZENSHIP
DUE DILIGENCE FEE
- 5000 USD FOR HUSBAND AND 5000 USD FOR WIFE
- 5000 USD FOR EACH DEPENDANT AGED 18 AND OVER
- 2000 USD FOR EACH DEPENDANT AGED 12-17 YEARS OLD
- 1500 USD FOR HUSBAND AND 1500 FOR WIFE
- 1500 USD FOR EACH DEPENDANT AGED 18 AND OVER
- 500 USD FOR EACH DEPENDANT UNDER AGED 18
GRENADA FEES: ON REAL ESTATE OPTION TO GET CITIZENSHIP
- SINGLE APPLICANT = 350,000 USD
- MAIN APPLICANT + SPOUSE = 350,000 USD
- FAMILY OF FOUR FAMILY MEMBERS = 350,000 USD
- FAMILY OVER FOUR FAMILY MEMBERS = 350,000 USD
- 50,000 USD FOR SINGLE APPLICANT
- 50,000 USD MAIN APPLICANT AND SPOUSE
- 50,000 USD FAMILY OF FOUR FAMILY MEMBERS
- 50,000 USD AND USD 25,000 PER ADDITIONAL DEPENDANT AFTER THE THIRD DEPENDANT
- 1500 USD PER PERSON
DUE DILIGENCE FEE:
- 5000 USD FOR HUSBAND, 5000 USD FOR WIFE,5000 USD FOR EVERY DEPENDANT 18 AND OVER,2000 USD FOR EACH DEPENDANT 12-17 YEARS OLD.
- 1500 USD FOR SINGLE APPLICANT, 1500 USD FOR SPOUSE,1500 USD FOR EACH DEPENDANT 18 AND OVER,AND 500 USD FOR EACH DEPENDANT UNDER 18 YEARS OF AGE.
THE ABOVE FEES DO NOT INCLUDE CITIZENSHIP QUICKLY MANAGEMENT CONSULTANCY’S CONSULTATION FEES, LEGAL FEES AND MARKETING FEES.THESE FEES CAN BE QUOTED AT THE TIME OF APPLICATION.THESE FEES ARE MERELY A REPRESENTATIVE OF WHAT THE GOVERNMENT’S FEES AND COST WERE AT THE TIME THIS NOTICE WAS PRINTED.UPDATES ARE ADDED AS WE GET INFORMATION DIRECT FROM THE GOVERNMENT OF THE COUNTRY BUT COULD BE DIFFERENT AT THE TIME AN APPLICANT APPLIES.
FOR MORE DETAILS CONTACT CITIZENSHIP QUICKLY MANAGEMENT CONSULTANCY, A DUBAI LOCAL COMPANY,Concord Tower,6th Floor,Dubai Media City,Dubai,UAE
[P.O. Box 126732,Dubai,UAE],
OFFICE: 97144549824 ( 9am to 5 pm GST Support (UAE) , CELL: 971523265778 EMAIL:email@example.com
SKYPE ADDRESS: Tom Norfleet
Visa free and visa free on arrival countries and territories 143