Grenada citizenship increases its investment requirements

Grenada Citizenship by Investment unit has changed the pricing structure for its citizenship, like 4 other Caribbean countries, effective July 1, 2024.

We previously talked about the costs increasing of the Caribbean citizenship program in a previous article, and here we wanted to focus on each Caribbean citizenship program separately for more details, and today we chose Grenada citizenship.

The Grenada citizenship program requires applicants to either make a significant economic contribution to the country or have government-certified assets. In return, a comprehensive security check will be conducted on the applicants, after which Grenada citizenship will be granted to the applicants and their families.

Decision to raise prices by the Grenada Citizenship Unit

The Grenada Immigration Agency, known as IMA Grenada, has announced a new ruling by the Supervisor of Citizenship and Prime Minister of Grenada, Mr. Deacon Mitchell, that the Grenada Citizenship Programme, which offers citizenship by investment programmes, has increased its investment costs.

Specifically, the minimum requirement to obtain a second citizenship for one of the Caribbean countries is now $200,000, and the five countries, including Grenada citizenship programme, have decided to begin implementing the changes as of July 1, 2024.

Grenada pledges to be part of the new and improved Caribbean Citizenship by Investment programme. This memorandum of cooperation is the best evidence of its efforts.

What benefits does Grenada citizenship offer to its holders?

Grenada citizenship by investment provides investors with greater opportunities than the investment itself, as the Grenada passport helps you enter the Schengen countries, Canada, Britain and 140 other countries without a visa.

The Grenada Citizenship Program is the only Caribbean citizenship program that allows its holder to obtain a US work permit for an extended period, and is one of the few programs that allows an applicant’s siblings to be added to citizenship, along with children, spouses, parents, and grandparents.

Also, the Grenada citizenship program has an attractive tax system, and you can open international companies there. It accepts dual citizenship, as it is a beautiful and safe Caribbean country, and you are not required to reside or know the language of the country.

1. Donate to the National Transformation Fund

▣ Applicant and up to 3 dependents: USD 235,000.

2. Real estate investment

Invest in approved property and hold it for 5 years if sold to qualify someone else for citizenship, or can be sold at any time after purchase if the sale is not to another applicant for citizenship:

▣  Applicant and up to 3 dependents: USD 350,000

▣  Applicant and up to 3 dependents: US$270,000, with a non-refundable contribution of US$50,000.

3. Persons costs added to Grenada citizenship with applicant

▣  Additional dependents up to age 30: $25,000

▣  Additional parents/grandparents: $50,000

▣  Siblings over 18 years old: $70,000

Although single applicants and couples will see a significant price change, families of 4 will see a small change of only $35,000. While government, administrative and due diligence costs remain the same.

If you missed the opportunity to obtain Caribbean citizenship at the old economic costs, we give you glad tidings that you still have a chance to obtain a second citizenship of Antigua and Barbuda, but you must act quickly and start applying as soon as possible. Contact us now for more details about the Antigua and Barbuda Citizenship Program.