Grenada Passport

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.

GRENADA ECONOMIC CITIZENSHIP

THE ECONOMIC CITIZENSHIP PROGRAM

The Grenada Citizenship by Investment Program was introduced in 2013.

MAJOR BENEFITS

These are some of the main features of the Grenada Citizenship by Investment Program:

Ability to travel to over 140 countries, including the European Schengen Area, China, Hong Kong, Singapore and the UK, without the need for a visa or with a visa issued on arrival
Can apply for a US non-immigrant investor visa after 3 years
The application may include the applicant’s spouse, any children up to the age of 29, any unmarried siblings over the age of 18, parents and grandparents
There is no requirement for a minimum stay in the jurisdiction
Citizenship can be passed to new spouses and future generations
Dual citizenship is permitted
As Grenada is a member of the British Commonwealth, its citizens can benefit from certain privileges in the UK and other Commonwealth countries

APPLICATION REQUIREMENTS

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.

OPTION 1 - NTF CONTRIBUTION

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:

US$150,000 for a single applicant
US$200,000 for a family of four
US$25,000 for each additional family member other than siblings and parents aged 54 or younger
US$50,000 for each parent aged 54 or younger
US$75,000 for each unmarried sibling over the age of 18

OPTION 2 - REAL ESTATE PURCHASE

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.

APPLICATION PROCESS

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.