Grenada

Why Grenada

Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies.  Unspoilt and exotic, 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.

Grenada’s Citizenship by Investment Program allows individuals and their families to obtain citizenship or permanent residence.  Applicants must apply through Licensed Agents, and may not make submissions to the Government on their own behalf.

Location

The nation of Grenada, measuring 344 square kilometers, 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, Grenada’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.

Investment Options

Investment opportunities come in three (3) main forms;

National Transformation Fund:
The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent.  The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture and alternative energy.  Having donating to the NTF, investors are left with a true sense of having contributed to their new nation’s wellbeing.

Applicants opting for the NTF route must contribute at least USD$200,000 to the Fund.

Real Estate:
One of the options available to applicants seeking to obtain Citizenship by Investment in Grenada is to invest in a Government-approved project.  Currently, these projects encompass real estate developments such as hotels, villas and resorts.  Because of the growth of the tourism industry, there is rising demand for tourist housing facilities.  Real Estate Developments are, thus, fantastic opportunities for investors looking for high returns.  Applicants opting for the approved project (real estate) route must invest at least US$350,000.  They must keep the real estate for at least three years following the grant of citizenship.

Fee Structures

The following chart highlights the costs and fees associated with the National Transformation Fund.

NTF DONATION Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
Contribution Amount USD 200,000 USD 200,000 USD 200,000 USD 200,000 plus USD 25,000
per additional dependent after
the third dependent
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18
and over, USD 2,000 for each
dependent aged between 12-17
USD 5,000 per person aged 18
and over, USD 2,000 for each
dependent aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person USD 1,500 per person aged 18
and over, USD 500 for persons
under 18
USD 1,500 per person aged 18
and over, USD 500 for persons
under 18

The following chart highlights the costs and fees associated with Real Estate Investment.

<td”>USD 1,500 per person aged 18 and over, USD 500 for persons under 18USD 1,500 per person aged 18 and over, USD 500 for persons under 18

REAL ESTATE OPTION Single Applicant Main Applicant + Spouse Family of four family members Family over four family members
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 and USD 25,000 per
additional dependant after the third
dependant
Application Fee USD 1,500 USD 1,500 per person USD 1,500 per person USD 1,500 per person
Due Diligence Fee USD 5,000 USD 5,000 per person USD 5,000 per person aged 18 and
over, USD 2,000 for each dependant
aged between 12-17
USD 5,000 per person aged 18 and
over, USD 2,000 for each dependant
aged between 12-17
Processing Fee USD 1,500 USD 1,500 per person

 

Applicable Forms and Requirements

Main Application Form

Citizenship or Permanent Residence by Investment in Grenada

Birth/Adoption Record

Application for Family Members

Affidavit of Support for Dependants Over Age 18.

Verification of Support of Dependants Over Age 18

Statement of Source of Funds

Medical Health Certification

Electronic Signature Registration

Criminal Record Verification

Application Form for Approved Project

IAS will provide you with a checklist of documents that must be provided.

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