Investment in Grenada
THE APPLICATION PROCESS
An applicant for citizenship must fulfil the personal requirements established under the Grenada Citizenship by Investment Act, 2013. Among other things, this means that he or she must be at least eighteen years old, have no criminal record, be in good health, and be willing to make the required contribution. A person who fulfils these requirements may then take the following steps:
The first step in applying for citizenship is choosing an Authorised International Marketing Agent. Applications for citizenship may not be submitted directly to Grenada’s Citizenship by Investment Committee (CBIC) and must only be handled by agents. Applicants must contact an Authorised International Marketing Agent, who in turn will liaise with an Authorised Local Agent. Applicants may not contact Authorised Local Agents directly.
An ‘Authorised International Marketing Agent’ is a trusted global marketer who is permitted to promote the Programme and who assists applicants along with the Authorised Local Agent. An ‘Authorised Local Agent’ is someone who has been granted a Local Agent’s licence by the Minister and who is authorized to act on behalf of the main applicant with respect to his or her application.
The second step in an application for citizenship is contacting an Authorised Marketing Agent, whose role is to provide the applicant with assistance in preparing documents for submission to the CBIC. The applicant will need to complete official forms, attend a medical examination, and obtain certain supporting documents – all of which must be submitted in English and be appropriately legalised. If the applicant is purchasing real estate, this will need to be reserved through a sale and purchase agreement. The Authorised Marketing Agent will be able to advise the applicant on the preparation of the documents and on how to have them legalised.
When all forms are complete, the Authorised Local Agent submits the application to the Executive Office of the CBIC. The Authorised Local Agent then becomes responsible for liaising with the Executive Office of the CBIC in relation to all correspondence, queries, or questions that may arise with respect to the applicant’s file. There is currently no mandatory interview requirement for the Grenada Citizenship by Investment Programme.
Each application is vetted by the Government through a thorough due diligence background check, during which time submitted information is examined and verified. The CBIC considers application files in light of this due diligence check, and then issues a recommendation about the application. Final approval is in the hands of the Minister, who generally follows the CBIC’s recommendation. Upon the Minister making a decision, the applicant is issued a letter (through his or her Authorised Local Agent) detailing whether the application was successful, delayed for further processing, or rejected.
If the application is successful, the CBIC issues a letter instructing the applicant (through his or her Authorised Local Agent) to either make the contribution (for the NTF option) or complete the purchase of his or her real estate. If real estate is purchased, then the applicant must demonstrate completion, as well as the execution of all necessary documents. Upon receiving proof of payment, the CBIC issues the certificate of registration, establishing that the applicant has received Grenadian citizenship. Authorised Local Agents must use this certificate to apply for a Grenadian passport on behalf of the applicant.