The Grenada Citizenship by Investment Act (ACT No. 15 OF 2013) was formally launched on August 29, 2013. It is an investment immigration project that is not affected by government policies and is protected by strict legal procedures. Investors can either donate to the National Transformation Fund (Section 10) or purchase government-approved real estate investment projects (Section 11) to obtain full and legal citizenship of Grenada for themselves and their accompanying spouses, children, and parents.
In the ACT No. 18 OF 2017 on September 29, 2017, the age restrictions for accompanying children and parents were once again relaxed. The bill was amended in January 2018 to reduce the NTF donation amount to US$150,000 for single-person applications.
Grenada Passport Program
Project Summary
Country Summary
Grenada is located in the southeast corner of the Caribbean Sea, the southernmost point of the Grenadines island chain. It consists of the largest Grenada and other small islands. It can be regarded as a three islands (Grenada, Carriacou, Little Martinique). It is the country of the largest three islands, with an area of 344 square kilometers.
Grenada’s natural scenery is beautiful, with an average annual temperature of 26°C and an annual rainfall of 1,520 mm. The climate is humid, with the most rainfall from June to December. The tropical oceanic climate creates a paradise-like pristine scenery. The green area is vast, covering almost the entire island. It is dominated by natural tropical trees and shrubs, and there are large rainforests in the mountains. There are various types of forest trees, mainly nutmeg trees, banana trees, and cacao trees. The vast waters are suitable for leisure and adventure activities such as sailing and diving.
Spices are the most important resource in Grenada, among which nutmeg accounts for 30% of the global production. Rich in aquatic animal and plant resources. The U.S. Geological Survey has explored and evaluated Grenada’s sea area with 804 billion cubic feet of natural gas reserves, worth US$2 trillion. The island has also discovered oil resources and will be exploited and operated by BP.
Grenada has a population of 107,000 (2016), a GDP of US$1.4 billion (2015), a growth rate of 4.6% (2015), a per capita GDP of US$13,100 (2015), and an inflation rate of -1.3% (2015); the economic is driven by tourism, agriculture and aquatic products, and processing industry; the currency is the East Caribbean dollar (linked to the US dollar exchange rate, 1 US dollar = 2.7 East Canadian dollars), no foreign exchange control.
Independence in 1974, but still a member of the Commonwealth of Nations; England is the head of state and the government is a democratic parliamentary system; it has special international relations with the United Kingdom and the United States. Diplomatic relations were established with China in 1985, relations were interrupted in 1989, diplomatic relations with China were resumed in 2005, and visas were exempted with China in 2015.
Application Requirements
Donations: US$150,000 (for single application), US$200,000 (application for a family of less than 4), US$200,000 + US$25,000/person (for more than 4 people, an additional US$25,000 government fee will be added for each additional person);
Or investment in real estate: US$400,000 (applications for a family of less than 4), US$400,000 + US$25,000/person (for more than 4 people, an additional government fee of US$25,000 will be added for each additional person);
Immigration service fee: USD 10,000 (USD 5,000 is paid when signing the contract, and the balance is paid after obtaining the “Approval Letter”);
Application fee: 1500 USD/person;
Trial fee: USD 1500/person (over 16 years old), USD 500/person (under 16 years old);
Due diligence fee: 5000 USD/person (over 16 years old);
Cost of certificate production: USD 2000/person;
Bank service fee rate: 1.15%;
Attorney’s fee: USD 60,000;
Other expenses: medical examination, notarization and other expenses, depending on personal circumstances and the number of family members.
Benefits and Advantages
- Immigrate to the United States legally in the fastest 6 months: the only passport program in the world that can be obtained through simple investment that can lead to the U.S. E-2 visa;
- You can obtain a green card and a passport at the same time, so that you can travel to more than 120 visa-free countries with Grenada passports;
- Provide subsequent optional services such as obtaining a tax number, registering a company, opening an account, etc. to deal with the necessary part of CRS;
- Tax haven: an important tool for non-global taxation, household and corporate asset allocation, and corporate overseas listing;
- St. George’s University in Grenada is a world-renowned medical school. Holding a Grenada passport allows your children to be exempted from applying for a student visa to enter the medical school, after graduation your child could go to the United States to practice medicine or return to your home country to work.
- The application materials are simple and the approval procedures are quick. You can get a green card and passport in about 3 months;
- There are no requirements for age, language, education, management experience, minimum assets, etc., and no need to prove the source of assets;
- No interview, no need to landing to Grenada for the entire passport project;
- The project is a legislative act, and there is no need to worry about the impact of policy mutations.
Application Process
1. Choose the investment method and sign the intermediary service agreement;
2. Collect materials and pay various fees payable according to detailed cost details;
3. Submit the application materials to the Grenada Department of Immigration through a lawyer, and the government has successively issued an opening letter, a status letter, and an approval letter;
4. The Prime Minister issues a citizenship certificate, grants citizenship, and then issues green cards and passports to clients through lawyers.