Looking for a powerful second passport as part of your Plan B strategy? Offering visa-free access to 123 countries including the EU and the UK, the Grenada passport is an excellent travel document for both business and leisure.
The country’s acclaimed Citizenship By Investment (CBI) Program offers applicants the choice of either investing in real estate or making a donation to obtain second citizenship. Donations start from $150,000 for a single applicant, with minimum government approved property investments priced from $220,000 under the investment track.
Find out more about the benefits of obtaining Grenadian citizenship in 2021, or contact us below to request a free consultation with a citizenship planning professional specializing in Caribbean CBIs.
In this In-Depth Article...
Compare ALL Citizenship-By-Investment Options At A Glance...
Download our Citizenship By Investment Comparison Sheet to see at a glance which options are right for you…
It could potentially help you save tens — or even hundreds of thousands — of Dollars by picking the best passport for your personal situation at the lowest price.
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Established in August 2013 under the Citizenship by Investment Act of 2013, the Grenada CBI is one of the world’s flagship investment citizenship programs. As of late 2019, over 880 applicants had been approved for second citizenship by this island nation since the program’s inception.
Boasting a fast, streamlined application process and the ability to include your spouse, children, siblings, parents and even grandparents, Grenada is increasingly the Caribbean economic citizenship program of choice for applicants from across the world.
The program raised in excess of $150 million annually by as early as 2017, having registered a 300% increase in applications during the same year.
Program revenues account for around 15% of Grenada’s overall GDP. Most of the Caribbean countries’ economies are heavily reliant on inbound tourism. Given that this sector took a devastating hit during COVID-19, Citizenship By Investment programs now serve as an even more vital economic lifeline for the countries offering them than they usually do.
Grenada is the only Caribbean country offering access to the US as an E2 Treaty Agreement signatory. The E2 Treaty is a bilateral agreement that affords signatory countries certain travel rights and privileges. While the associated E2 Visa program does not lead to a green card and eventual citizenship, it allows applicants who make a significant, at-risk capital investment in the US to stay there long term – as long as the investment is maintained. Not surprisingly, this benefit has led to the program gaining massive popularity among Chinese applicants seeking to make the move to America.
The program competes with four other programs in the Caribbean, namely those of Antigua, St Kitts, St Lucia and Dominica. It has also been facing stiff competition from the Vanuatu Citizenship By Investment program in recent years, given the comparable benefits and donation pricing.
Important to note...
Passport quality is not only about choosing the travel document with the longest list of visa-free countries – the quality of the countries on the list matters as much – if not more!
Take the example of Grenada vs St Kitts, as per the latest Sovereign Man Passport Ranking Index:
|COUNTRY||VISA FREE DESTINATIONS||PASSPORT QUALITY SCORE|
|St Kitts & Nevis||131||127.6 (B grade)|
|Grenada||123||136.3 (B grade)|
So how can Grenada be better with a shorter list of visa-free destinations?
Grenada is one of the few CBI countries to offer visa-free access to China — this is a HUGE advantage. In terms of our passport index’s quality weighting, Grenada’s passport is the superior travel document.
So don’t be fooled by top-line numbers like visa-free destinations only; do your homework and check the underlying quality of the countries you can travel to…
And make sure that those line up with your strategic objectives.
As of early 2021, the Grenada CBI program’s donation-based pricing tends to favor family applications over those of individual applicants:
|National Transformation Fund (NTF) Contribution||Single Applicant||Married Couple||Married Couple + 1 Minor Child||Married Couple + 2 Minor Children||Additional Dependents|
|Donation||$150,000||$200,000||$200,000||$200,000||$25,000 per additional dependent|
As of 2021, only government approved investments in off-plan property development projects are eligible as the basis for Citizenship By Investment applications. Depending on the investment value, you have the option to invest in property on a single owner, dual ownership or multi ownership basis:
|Government Approved Real Estate Investments||Single Applicant||Married Couples||Family of 4 Members||Family of 5 or more|
|Required Investment||$220,000 or $350,000 (Government approved Real Estate)||$220,000 or $350,000||$220,000 or $350,000||$220,000 or $350,000|
|Government Fees||$50,000||$50,000||$50,000||$25,000 per additional applicant over 4 people|
|Application Fees||$1,500||$3,000||$6,000||$1,500 per additional applicant.|
|Due Diligence Fees||$5,000||$10,000||Children 17 – 25 years: $5,000 per person. Children under 16: free.||_|
|Processing Fees||$1,500||$3,000||Over 18s: $1,500 per person. Under 18s: $500 per person||Over 18s: $1,500 per person. Under 18s: $500 per person|
In addition to having to make either an eligible investment or donation as per the program’s requirements, applicants also need to meet the following criteria:
Grenada is a compelling Plan B destination, both in terms of its strategic location, attractive taxation, tropical climate and passport power. If you’re ready to take the next step and power up your back-up plan through second citizenship, simply complete the below form to request a free consultation with a Grenada investment citizenship expert today.
Government donations from only $200,000 per family of four, excluding fees. Contact us now for more information.