Grenada has one of the most cost-effective citizenship by investment programs in the world. A $150,000 donation to the National Transformation Fund or a $220,000 investment in real estate leads very quickly to citizenship of a beautiful, stable, economically diverse country.
The investment route is especially popular, because it offers the chance of having the capital returned. The main investment opportunities are luxury hotel developments under construction on the island. Yet some people opt for the donation route because it better suits their own circumstances.
Unlike the investment route, the donation requirement changes depending upon the number of family members seeking Grenadian citizenship. A single applicant is required to invest $150,000. However, that increases to $200,000 if you plan to bring a spouse with you.
The extra $50,000 may be prohibitively high to some applicants. This could be the case if they are planning an E-2 investment and need capital to start-up or acquire a business in the United States.
There is a way around this. The Grenadian constitution entitles the spouse of a Grenadian citizen to Grenadian citizenship. So it is possible to apply as a single applicant, save $50,000, and arrange citizenship for the spouse at a later stage.
There is a timing issue here. Citizenship by Investment processing times are incredibly short – averaging just 45 days. If both spouses require citizenship quickly then it you should consider a dual CBI application.
However, if you are in no rush for the spouse to obtain Grenadian citizenship, you could consider the slower route. Applying for Grenadian citizenship as a spouse through the general processing route may take two years.
Such a situation might suit someone considering an E-2 application. Provided that the E-2 applicant is the same as the Grenada CBI applicant, an accompanying spouse does not need to have citizenship of an E-2 Treaty country. This explains why there are small numbers of E visas granted to Indians (221 visas in 2019) and Vietnamese (19 in 2019). Neither is an E-2 Treaty Country.
Each person or family’s situation is different. It is vital to engage with an attorney to discuss the best options to suit your circumstances. The information in this blog is for illustrative purposes and does not constitute legal advice. Please contact us directly to arrange a consultation.