Grenada Citizenship by Investment
Published: 23 October 2013
By act number 15 of 2013 the Grenada citizenship by investment Act, Grenada established citizenship by investment.
Overview
Grenada’s Citizenship by Investment Programme allows individuals and their families to obtain citizenship or permanent residence. Applicants must apply through licensed agents, and may not make submissions to the Government on their own behalf.
LEGAL BASIS
The Citizenship by Investment Programme came into being in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ The stated objective of the Act is to “enable persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada.”
Applicants may only make two types of investments to obtain citizenship or permanent residence:
1. They must make “a payment into the National Transformation Fund;” or
2. They must make “a payment towards an approved project in Grenada”
The National Transformation Fund (NTF) was established under section 43(1)(a) of the Public Finance Management Act Cap 262B, and is responsible for funding Government-sponsored projects in Grenada. ‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as “a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee.”