- Does citizenship extend to my spouse and children?
Yes, citizenship is extended to your wife, dependent children and dependent parents. Fees for family members are provided with the application form.
- How many years is the passport valid?
All Grenadian and C.E.C passports are valid for five years.
- How do I renew my passport when it expires?
It can be renewed through a Grenadian consulate or directly through the Grenada passport and immigration office.
- How can I be sure that my passport will be renewed upon expiry?
As part of the laws of Grenada, citizens are entitled to a passport and cannot be denied this.
- Do I need an address in Grenada if I renew my passport and I have already sold the property?
No, you would just give the address of your principal residence.
- What is the process for citizenship by investment?
An application must be completed and submitted with the required documentation, the investment funds transferred to the escrow account, and a share purchase agreement and an Escrow agreement executed for the investment in the property, qualified under the Citizenship by Investment program.
- Is the property freehold?
Yes, each shareholder is purchasing shares in a freehold property.
- When can I sell the property?
A four-year holding period is required.
- If I sell my residence, do I need to renounce citizenship?
No, the citizenship is yours for life.
- Does any new owner of my property have the right to apply for citizenship?
Yes, subject to Government terms and conditions at that time.
- Are there annual management fees for the property?
Yes, there are normal annual management and maintenance fees. It is the intention that these will be more than covered by hotel income however; the investor/s do remain responsible in the event of any shortfall.
- After buying the shares and receiving the citizenship are there any taxes that I need to pay?
No, as a shareholder you are not liable for any individual taxes.
- After buying the property and receiving the passport are there any taxes that I need to pay?
Property tax is capped whereby the value of the property cannot be assessed at more than EC$300,000, and therefore the tax payable per year is circa EC$600 (approximately US$225.00 per year).
- What criteria will be used to issue a passport?
The passport can be delivered to your attorney in Grenada who can then courier it to you. There is no need to visit Grenada to collect it.
- Is the Citizenship by Investment act part of Grenadian legislation?
The Citizenship By Investment Act is part of the Grenadian legislation. The Grenada Citizenship by Investment Act 15, 2013.
- Is this legislation documented?
The legislation is documented and is part of the laws of Grenada having been passed by Parliament.
- As a citizen of Grenada, do I have to live in Grenada?
No, you do not.
- Do I need to renounce my current passport to receive Grenadian citizenship?
Under Grenadian law you do not need to renounce any other citizenship.
- When do I receive the passport?
Your application for Citizenship By Investment will be approved within 60 days of submission (subject to a satisfactory due dilligence and the deposit of the escrow funds being received) and your passport applied for, and issued thereafter.
- Do I need to visit Grenada as part of the passport application process?
You do not need to visit Grenada during the application process.
- As a Grenadian citizen, where can I travel without a visa?
Grenadian citizens can travel without visa restrictions to many international and Commonwealth countries. There is also an agreement (subject to ratification) with the European Union, which will enable Grenadians free travel through the E.U. In total there will be approximately 116 countries that Grenadians can visit without a visa.
- Are there any other benefits as a citizen of Grenada?
Grenada is part of the Commonwealth and therefore is part of a grouping, which is committed to the highest standards of law and justice, human and social rights and other internationally accepted practices. Grenadians can travel without restrictions throughout the Commonwealth.
- How does Grenadian citizenship help my child's education?
Grenada is home to the best US offshore University, St. Georges University. It is one of the best medical, veterinary and arts & sciences schools, and graduates are trained in some of the best hospitals in the USA and UK. It is internationally accredited and currently has 6,000 students from over 140 countries.
- What documents do I need to prepare?
These are all listed in the application pack
- If I change my mind after transferring the purchase price will I get a refund?
No, once you have made your application you are fully committed
- Who will manage my property?
The Resort Management Company
- As the property is part of an hotel operation, can I still use the property at any time myself?
Yes, you can book it and use it and you will receive an owner's discount on the resort rates at that time.
Economic, Financial, & Tax
- What language is spoken in Grenada?
English is the only official language and by far the predominant language. French, Spanish and Italian can be heard from time to time.
- What is the Commonwealth?
The Commonwealth of Nations, normally referred to as the Commonwealth and formerly known as the British Commonwealth, is an inter-governmental organisation of 54 independent member states. Queen Elizabeth II, the current Queen of England is the titular head of the Commonwealth.
- How does Grenada being part of the Commonwealth help me?
There are many benefits to Commonwealth members such as easier travel between Member Countries, protection of all Members by other embassies and commissions around the world, eligibility for certain sporting activities (the Commonwealth Games).
- How is Grenada's economic outlook?
Grenada's economic outlook is generally very good, with expansion occurring in tourism, agriculture and manufacturing. The Government is about to commence an oil and gas program in its territorial waters between Venezuela and Trinidad. Part of the Eastern Caribbean Bank and currency system, its currency is stable, secure and tied directly to the US$. Business can also be conducted in US$s. There is no exchange control or restrictions on the inward or outward transfer of $USs.
- Will I be liable to any taxes in Grenada?
Under the terms of the Citizenship by Investment program you will not be liable to any income tax, capital gains tax or inheritance tax.
- What dividends can I expect from the property?
Your property in Grenada will be managed and rented by the Resort. While dividends cannot be guaranteed the intention is that revenues will exceed expenses after an initial introductory period and thereafter will provide a positive yield.
Location & Background
- Where is Grenada?
Grenada is 12 degrees north of the Equator at the Southern end of the Windward Islands, which is the southern most part of the Caribbean and outside of the hurricane belt.
- How far is Grenada from any major cities?
Grenada is 3 hours from Miami, 4 hours from New York and Toronto and 8 hours from London, all by direct air service. Port of Spain (Trinidad) is just 20 minutes flight away, Barbados just 40 minutes and South America (Venezuela) 45 minutes.
- What is the climate like in Grenada?
The climate in Grenada is tropical with average temperatures of around 28 °C year round. It is a sunny island enjoyable all months of the year, and with cooler breezy locations in the mountains.
- What is Grenada known for?
Known today more as a tourist destination and still the authentic Caribbean historically Grenada was known as a gentle island supported by growing spices, particularly nutmeg and cinnamon. Today it still has a very active agricultural and fishing economy.
- Where is the project located?
The project is located on the legendary Grand Anse Beach and is just 10 minutes from the Capital, St George, and the international airport
- How would I get to Grenada?
Direct flights from London, Toronto, New York, Miami, Venezuela, Trinidad, Barbados and other Caribbean Islands.
What are the specific advantages for investors in Grenada?
The main advantages for investors in Grenada are:
- A very safe and friendly country
- An efficient and uncomplicated process for Citizenship By Investment
- A first class international airport
- A valid passport to the Schengen Countries
- Access to over 116 countries without need for a visa
- Citizenship in a country that is a Member of the Commonwealth of Nations
What is the process for Citizenship by Investment?
An application must be completed and submitted with the required documentation, the investment funds transferred to the escrow account and a share purchase agreement and an Escrow agreement executed for the investment in the property qualified under the Citizenship by Investment program.
Is the property freehold?
Yes each shareholder is purchasing shares in a freehold property.