Grenada comprises a complex of islands located in the Grenadines, in the Caribbean. The main islands are Grenada, Carriacou and Petite Martinique. A number of smaller islands make up the rest of the island nation.
The country’s total area is 350 sq km and it has a population of 120,000. The capital is St George’s. The official language is English and the local currency is the East Caribbean dollar.
Grenada is known as the “Island of Spice”. It gets this name from the production of nutmeg and mace. The country’s economy is mainly dependent on tourism.
The Grenada Citizenship by Investment Program was introduced in 2013.
These are some of the main features of the Grenada Citizenship by Investment Program:
The main applicant must be over the age of 18 and must have a clean criminal record.
Two investment options are offered, as outlined below.
This option allows the applicant to make a non-refundable contribution to the National Transformation Fund as a qualification for citizenship. The level of contribution depends on the number of persons included in the application, as follows:
If choosing the real estate investment route, the applicant must purchase real estate of a minimum value of U$200,000 from an approved development project. In addition, a non-refundable contribution of US$50,000 applies.
The real estate investment must be held for a minimum of 5 years.
Mercury will conduct an initial due diligence and compliance review, before preparing and submitting the application on your behalf.
Once submitted, the Grenada government will normally process the application and grant citizenship within 3 months. The passport will then be issued within a couple of weeks and sent to you by courier. There is no obligation to collect the passport in person.
If opting for the real estate investment, the time frame can be a little longer, depending on the individual project in which you choose to invest.