The Value of Getting a Second Passport From Grenada

Countries in the Caribbean have become famous destinations for economic citizens. In fact, Grenada – also known as the “Isle of Spice” – is one of the five countries offering what is considered the best citizenship by investment programs in the region.

As such, a second passport from the country is considered valuable by many. Besides the fact that it offers an alternative route for high-net-worth individuals (HNWIs), it has also become a prized document used for travel and other purposes. This explains why people choose to make a significant investment to get one.

But what can a simple travel document offer in terms of ROI?

This article tackles how you can qualify for a second passport in the country, and the high value returns you can enjoy once your Grenada citizenship has been approved.

Citizenship by Investment Options

Like other Caribbean countries offering citizenship by investment, Grenada opened up more than one way for foreign nationals to acquire a second passport – two to be exact.

All applicants who choose to undergo either path to Grenada citizenship would need to pay due diligence and other fees on top of the minimum investment they make, as detailed below:

1) Contribution to the National Transformation Fund (NTF)

Established in 2013, the National Transformation Fund (NTF) is used to develop Grenada into a prosperous and independent country. It helps finance various industries, such as agriculture, tourism, and alternative energy.

As such, investors who choose to donate to the fund gain a second passport and a chance to make a valuable contribution to the nation’s wellbeing.

To become an economic citizen through this route, investors need to donate a minimum of $200,000 to the NTF. However, the actual amount of investment varies depending on the number of applicants and his dependents.

Single applicants who are not bringing any family members along in the second citizenship application only need to contribute $150,000 and pay the minimum amount for application, due diligence, and processing fees.

For an applicant and their spouse, the investment amount should be at least $200,000.

The investment amount covers both husband and wife, although the application, due diligence, and processing fees would be on a per-person basis. The same goes for families of four, though children aged 16 years old and below will not be charged any due diligence fees. A lower processing fee will also be implemented for children below 18 years old.

Once the number of family members reaches five or more, an additional $25,000 investment is required for every subsequent addition to the application. The rules remain the same for other fees.

2) Investment in an Approved Real Estate Project

If contributing to the NTF is not for you, you can choose the second CBI option: investing in real estate. Not just any real estate, mind you; it must be a government-approved project.

According to the Grenada CBI program’s official website, these projects currently include villas, hotels, and resorts. Due to Grenada’s tourism growth, there is a need for additional and new tourism infrastructure and therefore all real estate developments under the program are in prime tourist locations (usually close to beaches) and usually offered off-plan. Of course, the list changes periodically, so you must check their official website or contact an agent licensed to assist you when applying for second citizenship in Caribbean nations.

Applicants are required to meet a minimum investment value of $220,000 for the real estate option. They are also required to keep the real estate for at least five years following citizenship approval.

Unlike the NTF contribution, the investment value does not change even with more dependents. However, government and application fees may increase based on the number of people included per application. Meanwhile, due diligence and processing fees follow the same protocol as the NTF contribution for underaged dependents.

What You Get From a Grenada Passport: 4 High-Value Benefits

When you invest in something substantial, you expect to get the same value – if not more – for your money. Citizenship by investment in Grenada is no exception. With a second passport to this country, you get to enjoy four high-value benefits, namely:

1) Dual citizenship

Not all countries allow dual citizenship. If you plan to use your second passport to expand your portfolio, having to renounce your original citizenship would make the effort moot.

Fortunately, Grenada allows dual citizens and will not even require you to inform your home country of your new nationality. This affords you a great deal of privacy you may not find elsewhere.

2) International mobility

One thing that many investors look forward to with a Grenada passport is international mobility.

Grenada citizens enjoy travel to over 100 countries, including the United Kingdom and all member countries of the European Union, without visa restrictions. They also have unrestricted travel access to business hubs like Hong Kong and Singapore. It is also one of very few nations that has been granted visa-free access to the People’s Republic of China.

3) Tax and other financial advantages

Entrepreneurs and other high-net-worth individuals enjoy their earnings more in Grenada, thanks to the tax benefits the country offers its economic citizens. There, you won’t be required to pay inheritance, wealth, gift, capital gains, or foreign income taxes, should you decide to become a permanent resident after becoming a citizen.

You may also qualify for generous incentive packages for corporate taxes, including tax relief, export allowance, and full exemption from import duties. Caribbean countries also enjoy duty-free trading.

4) Friendly and welcoming citizens

There is no point in moving to another country if you are only going to get ostracized for being a foreigner. But that is not a cause for worry when you choose to live in Grenada – even if for just a short while.

Grenadians are welcoming, friendly, and warm-hearted. Their kindness is infectious to the point that everyone in the county says hello to everyone else and shows genuine concern for their welfare.

Get the Most Value from Your Grenada Passport

Investing in a second passport is a smart move that most successful HNWIs take to acquire global mobility and other benefits. If you choose to apply for Grenada citizenship, you extend those perks to your family and the nation you’re investing in, bringing high value returns for your investment.

Interested in Visiting Grenada?

Take a look at some available tours during your stay:

Powerboat Adventure & Sculpture Park

Highlights:

• Learn about the history, geography, and ecology of the island
• Take in sights like Dragon Bay, Black Bay, the Lagoon and the picturesque Carenage
• A chance to get wet at the world’s first Underwater Sculpture Park

Discover Scuba Diving

Highlights:

• One dive in the pool or confined water and one open water dive to a maximum depth of 12 meters

Coastline Explorer ATV Adventure

Highlights:

• Explore the coastal trails on the southern end of Grenada
• See numerous beautiful lookout points with panoramic ocean views and picture opportunities
• Discover and explore the virtually untouched beauty of our beautiful coastline

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This is a guest blog post. We are always open to featuring guest content on our website so please contact us if you have content you want to share with our audience. If you need help with planning your trip to, reach out to Anywhere But Here Travel.

AUTHOR BIO: Abire Mansoor is a Director and Licensed Agent at Citizens International, a white-glove specialist firm offering private client services necessary for citizenship, residency and investment into the Caribbean, North America, and Europe. Based in her home country of Antigua & Barbuda, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.

Anywhere But Here Travel earns a small commission from the various tours and excursions highlighted in this article.