Grenada Citizenship Costs

Contents: Cost Overview | Details

Grenada’s citizenship program is unique in a number of ways, and it varies from those of its regional and international counterparts. The benefits of Grenada citizenship through investing are numerous. Grenadian nationals have easy access to the US under the E-2 Investor visa, which is a valuable advantage for a foreign investor. Also, there are no taxes on capital gain, inheritance, gift, or wealth anywhere in the world. Grenada, being a tax-friendly country—having no gift taxes nor tax income, provides anyone who can invest or donate monies to the government a fast track to citizenship. It boasts one of the world’s fastest CBI programs with an average processing time of 3 months or less and cost the least out of all the citizenship by investment programs. Investors benefit from certain advantages that no other CBI countries in the region can offer. Grenada’s solid reputation also makes it a viable option for high-net worth investors looking to expand their passport portfolio. So, the question is, how much does the Grenada CBI program cost? Read more to find out.

Update: Congress passed the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (H.R. 7776/NDAA) on December 15, 2022.

Individuals who have obtained citizenship through financial investment must have been residing in that country continuously for at least 3 years before applying for an E Nonimmigrant Visa. 

The residency requirement does not apply to individuals previously granted E nonimmigrant status. The changes will limit the use of “Citizenship by Investment” programs of countries, such as Grenada, that have allowed investors who obtain citizenship in a treaty visa country to secure E-2 Nonimmigrant Visas while waiting for an available immigrant visa.

How much does Grenada Citizenship by investment Cost?

Grenadian citizenship cost:

Since the Grenadian Parliament passed the Citizenship by Investment Act in 2013, the Grenadian CBI program has underwent several modifications to keep up with the times and maintain a competitive advantage. While every other Caribbean CBI has dropped its prices, Grenada’s government has chosen an unexpected route—keeping its pricing the same and offering some additional benefits, giving more profit to the investor. In 2023, the minimum investment amount for Grenadian passport (citizenship) typically costs over $150,000 US Dollars.

• Purchase Home – a minimum cost of $220,000-$350,000 OR
• Contribution Charges – How much do you have to pay will depend on your situation—a minimum cost of $150,000 for a single applicant, $200,000 cost for a main applicant with up to 3 dependents, and a payment cost of $25,000 for any additional dependent
• Government Processing Fees – an estimated cost of $12,000
• If an application includes an eligible parent not exceeding the age of fifty-five years, an additional contribution cost of USD 50,000 will be charged with the post-approval fees.
• If an application includes an eligible sibling, an additional charge of USD 75,000 will be required with the post-approval fees.

As mentioned before, Grenada passport holders can apply for an E-2 visa. It will grant them access to go, live, and freely work in the United States. However, they must first create or purchase a business in the US to do so. The average investment amount has not been stated, but a valuation amount of $100,000 is typically required. For citizens of other countries, the requirements are much more stringent and the cost estimates are a bit more expensive. For Russian citizens, for instance, a minimum amount of $800,000 needs to be expended to acquire an E-2 visa. The fees, expenses, and total expenditure for an E-2 visa cost will depend on the lawyer’s compensation and any other externalities.

Republic Bank of Grenada is the regulatory body that has framework and monetary policy for moving assets and money outside of Grenada.

Information on Grenadian Citizenship through Investing

Investment Options

Investors have 2 primary choices when it comes to the cost of Grenada citizenship. Each applicant of the Grenada Citizenship by Investment Programme will have to choose between money donation to NTF (can also be to a charity) or real estate investment. You’ll have to pick one choice and won’t be able to integrate them. As a result, you must choose carefully or seek assistance because not only does the overall investment amount vary, but the rules do as well. While the real estate investment amount may be recouped (returns are after 5 years), there’s no compensation for the donation made.

• Contribution to the National Transformation Fund (NTF) – Grenada, like many other CBI programs, allows candidates to contribute a pre-determined sum to the National Transformation Fund (NTF). NTF aims to transform Grenada’s economic architecture and finance projects in various sectors, including alternative energy, agriculture, and charity. The NTF option consists of a non-refundable endowment fee of $200,000 for a family of four.
• Investment in an approved real estate project – Investment in Government-approved projects is an alternative route in which investment fees go to real estate developments such as resorts and villas. So, how much is the investment amount? It will depend on your circumstances. The applicant is required to make a co-ownership investment amount costing $200,00 when investing in the Tourism Accommodation sector or an endowment of $350,00 in government-approved projects not in the Tourism Accommodation Sector. For the applicants to opt into the first option, the principal applicant must invest together with at least one additional main applicant. Each of the principal applicants must pay a price of USD $200,000. There has been a reformation and a new regulation requiring the Grenadian CBI to store real estate investors’ money in escrow instead of turning it over which has provided the Grenadian CBI an excellent boost in terms of responsibility and worthiness, as well as reassuring investors.

In case you do not have enough earnings for investment, you might be wondering what can be a possible lawful alternative source of funds, right? Worry not for an investor may also apply for a loan as a source of funds in a financial institution for your investment fees.

See more: Rules | Processing Times