How many passports did Grenada issue to investors in early 2022
The Citizenship Program Department of Grenada reviewed 164 applications from investors in January, February and March 2022. This is 30% more than in 2021.
Demand for Grenada citizenship has been growing for the fifth year in a row. We tell how many investors received a passport and what they invested in.
Author •Zlata Erlach
Head of the Austrian office
How many passports did Grenada issue to investors in early 2022
The Grenada Citizenship Program has been in place since 2013. Demand for the program is stable: every year more and more investors want to get a Caribbean passport.
Citizenship program statistics are published by the Ministry of Finance, Energy, Economic and Physical Development of Grenada. Reports are published on the website every quarter.
How many investors have become citizens of Grenada
119 investors received Grenada passports in the first quarter of 2022. Together with them, 272 members of their families received Caribbean citizenship. In total, Grenada has issued 391 investment passports.
391 foreigners
Became a citizen of Grenada from January to March 2022
How much and in what program participants invested
EC$89,6 million, or US$33,1 million, was earned by Grenada from the citizenship program in the first quarter of 2022. This is 20% more than the same period in 2021 and 40% more than in 2019.
Grenada offers to investors two investment options:
Non-refundable contribution — From $150,000
Real estate purchase — From $220,000
The majority of investors — 66% — chose the option of buying real estate. Real estate projects that can be purchased under the citizenship program are approved by the government of Grenada. These are mostly five-star hotels.
79 investors bought property to obtain Grenada citizenship in 2022, 40 chose to make a non-refundable contribution to the National Transformation Fund
Return on investment is the main advantage of the property purchase option. After 5 years of ownership of the object, the investor has the right to sell it. Real estate prices in the Caribbean are growing at 2‑3% per year. So the investor will be able not only to return the invested investment, but also to earn on the difference in price.
The investor also receives passive income: real estate under the citizenship program is leased immediately after the facility is put into operation. The management company oversees the process. The investor’s share is specified in the agreement with the management company. Rental yield is usually 3‑5% per annum.
In May 2022, investors will choose one of 16 real estate projects. You can buy a share, an apartment or a villa.
Immigrant Invest real estate specialists select properties individually: they talk about the nuances of buying, maintaining and selling.
Examples of properties in Grenada
Grenada, St. George's
$270,000 — $350,000
Share or apartments in full ownership in an oceanfront university complex
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What does an investor with Grenada citizenship get?
Second passport for the whole family. Together with investors, members of his family can participate in the program:
Spouse or spouse;
children under 30;
parents of the investor and his spouse;
brothers and sisters of the investor and his wife.
Ability to travel freely in 144 countries. The list of visa-free destinations includes the states of the Schengen area, the UK, China, Singapore and Hong Kong.
Tourist visa to the USA for up to 10 years. Grenadians can obtain a long-term B‑1/B‑2 visa. The number of trips during the period of its validity is not limited. The maximum stay in the States is 180 days per year.
Business visa E‑2 in the USA. It is available only to citizens of countries that have concluded a trade and navigation treaty with the United States. Grenada is the only Caribbean country with an investment program to have such an agreement with the United States.
An E‑2 visa can be obtained by foreigners who invest in a business in the United States. There is no minimum investment amount, but usually investors invest at least $100,000.
The E‑2 visa is non-immigrant, but it allows moving to the States to run a business. As long as the company makes a profit, the investor has the right to stay in the country.
Tax optimization. There are no taxes on global income, inheritance or capital gains in Grenada. For companies, the conditions are different, but they are softer than in many other countries.
There is opportunity to send children to study at universities in the UK. Grenada is part of the British Commonwealth of Nations. Citizens of Grenada can receive education on preferential terms at the best British universities, for example, under scholarships from the Commonwealth Scholarship Commission, or CSC.
Immigrant Invest is a licensed agent for the Grenada Citizenship Program. If you want to obtain a second citizenship in Grenada and buy property in the country, please consult investment program experts.
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