Grenada is a country with one of the most sought-after Caribbean citizenship by investment programs. Located in the West Indies, this island is also a famous tourist destination and a great place to settle in.
But why is it so popular? This article tackles the most frequently asked questions about Grenada, including why it is considered one of the best second citizenship countries in the Caribbean.
1. What is so special about Grenada?
Before you apply for Grenada citizenship, it is normal that you would ask why you must choose the country in the first place. Of all the nations offering a second passport, why choose Grenada? What’s so special about it?
For one, Grenada earned the moniker “Spice Island” because of its massive exportation of mace, nutmeg, and cinnamon. But there’s more to the country beyond spice imports.
Colonized by the French in the mid-1600s to the 1700s, the country has a rich historical background that paved the way towards becoming what it is today. After the British colonization that ran between 1763 and 1974, Grenada achieved independence and became one of the leading producers of a wide range of spices such as ginger, mace, cinnamon, nutmeg, cloves, and allspice.
Besides that, the country is also popular for having one of the most picturesque waterfronts in the Caribbean, located in its largest town and capital, St. George.
Plus, the weather there is almost perfect all year round. With average temperatures ranging between mid 20 degrees and higher, the weather in Grenada is perfect for enjoying nature and the beach.
2. What do I get from a Grenada citizenship?
Grenada citizenship offers plenty of benefits for people who wish to become legal residents of the country, including:
- Becoming a citizen of a British Commonwealth nation
- Visa-free travel to many ally countries around the world
- Access to offshore bank accounts and investments for more business and tax planning opportunities
- Ease of application since there is no requirement for education, experience, language, and interview during the application process
Moreover, Grenada also allows dual citizenship for those who go through the citizenship by investment program.
In fact, it offers economic citizens more options than simply holding two passports from different countries. Grenada also allows the extension of the citizenship and its benefits to the passport holder’s relatives, particularly their spouse, dependent children, siblings, and dependent parents.
3. What do I need to become a citizen of Grenada?
To become a citizen of Grenada, you only need to complete a few requirements and qualify for the citizenship by investment option of your choice. This will also vary between the principal applicant and their dependents.
Principal Applicant Qualifications
Generally, the main applicant must be at least 18 years old at the date of application. If you intend to apply as a primary applicant, you also need to:
- Pass a medical examination
- Pass the due diligence check to verify the requirements submitted
- Have no criminal record
As for the investment requirement, you can choose between investing in a government-sanctioned real estate property worth at least USD $200,000 and pay for fees amounting to about USD $50,000 or contributing USD $200,000 to the country’s National Transformation Fund (NTF).
Dependent Qualifications
As mentioned earlier, economic citizens can extend their citizenship in Grenada to their dependents. Of course, the dependents must qualify for the country’s set requirements to be able to fully enjoy this.
The conditions that must be met are as follows:
- Dependent children must be below 18 years old and unmarried.
- For student dependents aged 18 to 25 years old, full dependence on their parents for survival must be proven.
- Children over 18 years old and are not students can only be considered qualified dependents if they are fully supported by the primary applicant due to physical or mental disability.
- Siblings can be declared dependents as long as the primary applicant is at least 18 years old, unmarried, and has no children.
- Parents and grandparents can be approved as dependents if they are above 65 years old and live with and depend on the main applicant.
4. How can I become a citizen of Grenada?
Applying for second citizenship in Grenada is quite easy, not to mention more affordable than in many other countries. Below is a step-by-step process you can follow:
Step #1: Contact an Agent
To become a citizen, you must first decide how you wish to invest in the country. As mentioned above, there are two primary options you can choose from: making a donation to the NTF or a real estate investment.
From there, you need to select an authorized international marketing agent to assist in the endeavor. Keep in mind that the country only transacts with certified agents. Any direct application will not be entertained.
Step #2: Accomplish Requirements
Once you have selected and talked to an authorized international marketing agent, it is time for you to accomplish application forms, undergo a medical examination, and complete supporting documents. All of these must be appropriately legalized and submitted in English.
If you have decided to invest in real estate, the property must first be reserved by signing and legalizing a sale and purchase agreement. The authorized marketing agent you choose can advise you on the preparation of the documents and how to properly legalize them.
Step #3: Submit of Requirements Through the Agent
Once all forms have been accomplished, an authorized local agent will submit them to the Executive Office of the Grenada Citizenship by Investment Committee (CBIC). An authorized local agent is different from an international marketing agent; the former is responsible for acting on behalf of the primary applicant on citizenship by investment application in liaison with the international marketing agent.
Once this is passed, the local agent will be responsible for communications with the CBIC’s Executive Office. Since there is no mandatory interview requirement, you won’t need to talk to the CBIC during the course of your application.
Step #4: Due Diligence Check
Every application vetted by the Government of Grenada will undergo thorough due diligence background checks. During this time, all information submitted will be verified.
Step #5: Recommendation and Completion of Citizenship Application
After the Minister decides whether or not to approve the application, the applicant will receive a letter communicating the CBIC’s decision through the authorized local agent. This should reveal whether the application was approved, rejected, or delayed for further processing.
Become a Citizen of Grenada
Becoming a citizen of Grenada will be much easier to accomplish if you already know and understand the basics. From some facts about the country to the flow of the citizenship by investment application process, all the knowledge presented in this article will be useful in your quest to become a Caribbean passport holder.
AUTHOR BIO
Kal Kennard is a Partner at Citizens International, a white-glove specialist firm offering private client services necessary for citizenship, residency and investment into the Caribbean, North America, and Europe. Based in the Caribbean for the past 15 years, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.
