The year with the most applications for the Citizenship by Investment program in Grenada occurred in 2021, with a total income of $282,000,000 in the Caribbean country. It also increased by 11.5% over the previous year and achieved revenue growth for the fifth consecutive year.
The Citizenship by Investment Unit obtained 566 applications in total last year alone. Compared to the previous year, we can see an increase of 44%. Forty-one percent of applicants chose the Donation to the Grenada National Transformation Fund option, while 59% opted for the real estate opportunity. The Citizenship by Investment Unit processed 140 applications in the fourth quarter of 2021, which is a record in Grenada.
Citizenship benefits in Grenada
One of the facilities that Grenada’s Citizenship by Investment program offers to international investors is the country’s E2 nonimmigrant visa classification agreement (or E2 visa) with the United States and its visa waiver agreement with China. Grenadian passport holders can travel visa-free to 153 nations and territories, representing 58.4% of the world’s GDP, including the EU and the UK.
Investors can make a one-time payment of $150,000 to the nation’s national development fund, or they can invest from $220,000 in government-approved real estate projects.
This is a fantastic opportunity for countries that do not have an E2 agreement with the United States. A person can first obtain Grenada citizenship and then apply for a U.S. E2 visa. This is because Grenada is the only country in the Caribbean that has an E2 visa agreement with the U.S., allowing citizens to apply for a visa and reside there.
Citizenship by investment offers fast-track citizenship that can be finalized in three to four months for passport issuance. The affordable passport is also an option as an alternative citizenship available for as little as $150,000.
Once the applicant’s citizenship by investment is approved, full investment in Grenada is permitted. For all of this, residency is not required, as the passport can be obtained remotely without the need for physical residence.
Grenada is also an attractive place, with an affordable tax system, as no income, estate or inheritance taxes are required. In addition, Grenadian citizenship by investment is fully transferable to descendants and is valid for life. Dual citizenship is also allowed in Grenada.