How much does it cost to get Grenada citizenship?
Published at: 17/02/2022 10:31 am
There are so many citizenship by investment programs on the market that it is worth reminding you how beneficial and unique the Spice Island - Grenada passport is!
Why should you consider obtaining the citizenship and passport of Grenada?
Most of the applicants for the Grenada CIP (citizenship by investment program) are looking for a better passport. It allows them to visit and work in significantly more countries than their original travel documents.
Luckily the Grenadian passport allows its holder to visit 144 countries without a lengthy visa process*, including the United Kingdom, Hong Kong, China, the EU's Schengen zone and even Singapore.
* it means that you can travel visa-free or have to pick up a visa upon arrival.
Another relevant and critical issue is that Grenada is an E2 country. E2 is an entrepreneur immigration program of the United States, which allows you to live in the US if you invest more than US$100,000 there. Thousands of applicants moved to the US through this solution. They invest in Grenada's citizenship and subsequently apply for the US program with their new passports. It is the most affordable way to get in the US, and an entrepreneur or investor can't even be compared to the costs of the other programs.
And don't forget that Grenada is a pearl of the Caribbean; the Spice Islands (Grenada, Carriacou and Petite Martinique) are charming places to live. Before the pandemic, it was not the investors' first choice to move to a Caribbean island nation and enjoy a high quality of life. However, the situation changed fast. Now more and more new citizens consider moving there and leaving the laidback lifestyle of the Caribbean. Moreover, Grenada is the home of St Goerge's University - Medical School. Almost every third person works there in the country. As a citizen, you do not have to reside in the country. However, if you live in Grenada, it's good to know that there are no taxes on income, wealth, or inheritance.
How much does it cost to get Grenada citizenship?
As usual among the citizenship programs of the Caribbean island nations, Grenada also offers two main routes for investors to obtain passports:
Contribution to the National Transformation fund of US$150,000. If the spouse joins the application, the contribution increases to US$200,000. The same cost applies for a family of four, and each additional dependent after the first three-person must pay US$25,000 more.
Suppose the investor opts for the real estate option. In that case, the cost is US$220,000 (only government-approved real estate projects qualify). There is a government fee of US$50,000. The price does not increase if the spouse and two children join.
Discus Holdings is an expert service provider of the Grenada Citizenship by Investment Program with nine years of local experience (the program started in 2013). You can read here our detailed guide or ask for a free consultation now!