Grenada in the Caribbean Sea boasts wonderful landscapes, fantastic beaches, blue water, palm trees, waterfalls, and a tranquil lifestyle. But Grenada offers something more: you can ‘buy’ citizenship of the country. With a Grenadian passport, you can visit 144 countries of the world without applying for visas, start a business venture in the USA, and reside there permanently.
The Grenadian citizenship-by-investment program was first launched in 1997. Since that time, the quality of the services has improved, and acquiring citizenship in Grenada is not an overly complicated or time-consuming process.
In 2013, the program was renewed, and the procedures were simplified. Today, you can acquire a Grenadian passport within 2 to 5 months. At the same time, the required investment amount is quite substantial: you have to donate US$ 150,000 to the state fund to qualify for Grenadian citizenship, and that’s the smallest sum that you have to pay. Alternatively, you can invest in real estate in the country. In this case, your investment is going to be returnable, but its amount will have to be higher than US$ 150,000.
Because you would have to pay more than a few dollars for Grenadian citizenship, you have to weigh all the pros and cons before making the final decision. After all, Grenada has been an independent country only for a short time, in historic terms. Below, we list the main advantages that a Grenadian passport can bring you and point out some limitations that Grenadian citizens have to face. Before we start, however, we would like to say that the advantages outweigh the disadvantages by far.
Advantages that a Grenadian passport brings
- With your Grenadian passport, you can travel to nearly 150 countries without visas. If you are a holder of the ‘wrong’ passport, this may be the main reason for you to apply for Grenadian citizenship. In addition to other countries in the Caribbean, you can freely visit the EU countries, Great Britain, Singapore, and many other places.
For instance, you will gain visa-free access to China when you become a citizen of Grenada. The Chinese influence in the international arena is growing, and the economy of the country is rapidly developing. Even though China is officially a communist country, private business is allowed and booming there. Launching a business venture in China can prove a highly profitable enterprise.
- With your Grenadian passport, you can easily get a visa to the USA. Citizens of Grenada qualify for E2 visas. These are basically residential visas to the United States because they can be extended. Therefore, you will be able to spend as much time in the US as you wish.
An E2 visa is actually a foreign investor’s visa. The amount of the investment is not specified in the American legislation, but practice shows that you can invest from US$ 100,000 to qualify for the visa. We must note that citizens of many countries are not eligible to apply for E2 visas to the USA. Some Eastern European countries, for instance, do not have correspondent agreements with the USA. They can apply for a foreign investor’s visa, too, but it will have to be an EB5 visa, and the requirements are going to be much tougher. A citizen of an Eastern European country will have to invest close to 1 million dollars in the US economy and wait for a couple of years before he or she can get an EB5 visa. The waiting period is so long because each country has a yearly quota of EB5 visas.
- With your Grenadian passport, your tax burden is going to be small. One of the most outstanding advantages that Grenada offers is a beneficial tax system in the country. Personal income, royalties, inheritance, etc., are not taxed in Grenada. There, you will have to pay much fewer taxes than you are paying in your home country. The low tax burden is aimed at incentivizing business people to start new business ventures in the country. The entrepreneurial spirit is not very high in Grenada, and tax incentives are needed to boost it.
- With your Grenadian passport, you can enjoy certain benefits in the United Kingdom. Grenada is a member of the Commonwealth of Nations, and this status brings its citizens some benefits. For example, you can apply for a scholarship if you would like to attend a British university.
In addition to that, citizenship of Grenada will give you a chance to relocate to another country that is a member of the British Commonwealth of Nations. For example, Cyprus and Malta are two such countries in Europe.
- You can add your relatives to your application for Grenadian citizenship. In addition to the main applicant’s spouse and children, his/ her dependent parents and siblings can be added to the application.
The final benefit that we would like to mention is self-evident, but we cannot skip it. With your Grenadian passport, you can obviously live in Grenada. Life is peaceful and quiet in the country, no fuss, no rush. You can spend your days at the sandy beaches and splash in the turquoise water of the Caribbean Sea. Besides, you can find some amazing sights in Grenada. Make sure that you visit the waterfalls and the underwater sculpture park with 60 sculptures.
At the same time, you don’t have to live in Grenada to keep your Grenadian citizenship. If you feel that the Caribbean is a bit too far to travel there, you can use your Grenadian passport for travel to other destinations without visas.
Is it difficult to acquire Grenadian citizenship?
The procedure for acquiring citizenship of Grenada is quite simple. The local immigration authorities are highly cooperative, and they try to make the process easy.
- You can retain your home country’s citizenship when applying for a Grenadian passport. Grenada allows dual citizenship, so you can remain a citizen of Italy, Hungary or any other country when becoming a citizen of Grenada. Besides, the Grenadian authorities are not going to inform the authorities of your home country about your acquiring citizenship in Grenada. Your home country’s regulations may oblige you to disclose acquiring second citizenship, but Grenadians will keep that information confidential.
- You don’t have to travel to Grenada to obtain citizenship of the country. Recently, all applicants for Grenadian citizenship have had to have personal interviews. However, the interview can be held at a Grenadian consulate in a foreign country. Interviews can also be held in Grenada, and you will certainly enjoy the nature there if you venture on a trip to the country.
- There are no personal presence requirements at all. That is to say, you don’t have to make regular trips to Grenada to retain your passport. In fact, you can never visit Grenada while being its citizen! This is a great plus because we must admit that the Caribbean Sea is a remote region for many people.
- There are no history or language tests that applicants for Grenadian citizenship have to take. English is spoken in Grenada, and the accent is rather nice: you will get accustomed to it quickly if you decide to move to Grenada after acquiring citizenship in the country.
Limitations that Grenadian passport holders have to face
The limitations are rather few. First, Grenada is far away if you don’t live in America. Second, you can stay in the Schengen zone for 90 days only without a visa. Third, you cannot live in the UK on your Grenadian passport, but you can visit the country freely.
True, a Grenadian passport does not open the whole world to you, but it brings you many advantages anyway.