May 27, 2024

Interest in Grenada's investment citizenship tripled

Demand for Grenada's investment citizenship tripled in the third quarter of 2022, a notable success for the country's Citizenship by Investment program compared to previous periods.

From July to September, Grenada's investment citizenship program received a record 462 applications, nearly triple the number from a year ago and 164% higher than the previous record set in the fourth quarter of 2021.

The number of applications for investment citizenship has quadrupled in the last six months. This significant increase is probably due to the fact that Grenada is the only Caribbean country that accepts applications from citizens of Russia and Belarus.

According to the data, out of 462 applications of the third quarter, the authorities of Grenada considered only 86 (with 85 approvals and one refusal). Due to the increasing flow of those wishing to obtain citizenship and passport of this country, the waiting time for the procedure (including bank verification) of 4-6 months may significantly increase.

The minimum threshold for participation in the program is US$150,000 if the applicant is contributing to the Grenada Transformation Fund and US$220,000 if jointly investing in real estate. In the case of an individual purchase of real estate, the minimum threshold increases to US$350,000.