For the fourth consecutive year, Grenada has shown growth in its Citizenship by Investment program. Surprisingly, despite the current situation in 2020, the program broke a number of records.
To begin with, the number of applications increased by 21 compared to last year. In 2020, 394 applications were received, and in 2019 there were 373. The number of approved applications also reached a record number: 375 instead of 265 last year. If you look at this indicator as a percentage, then the rejected applications amounted to 8.9% (in 2019 it was 11.8%).
For the first time in the entire period of the program’s operation, the number of issued passports exceeded one thousand and amounted to 1,111.
In terms of total revenue from the program, it amounted to EC$ 253 million. This is the highest figure in seven years of the program.
But the percentage of the ratio of real estate investment and the National Transformation Fund (NTF) has changed. Moreover, for the better for real estate objects. 58.4% of the total number of applications for investments fell on real estate, collecting EC$ 151 million.
In 2020, the NTF option turned out to be less popular and received EC$ 84.2 million.
Grenada Citizenship by Investment Program has been operating since 2013 and has managed to issue thousands of passports and citizenships to foreign investors.
Benefits of obtaining Citizenship of Grenada:
- Efficiency: A speedy application process; a law mandates that routine applications will be approved within 90 days of submission, with the passport issued immediately thereafter. (The application must be submitted after the background checks have been performed.)
- Good Hassle-Free Travel: The Grenada passport allows broad global mobility.
- Family Friendly: By not charging exorbitant processing and due diligence fees for spouses and family members, Grenada is an attractive option for international businessmen looking for security and travel options for their families.
- Zero Tax: The island has no income, wealth or inheritance taxes. World Class University: Grenada is home to St. Georges University, an accredited medical, veterinary and arts & science educational institution.
- There is no requirement to visit Grenada in order to qualify for citizenship.
- The opportunity to obtain an American E2 visa to live and work in the United States of America.
