Amid political and economic upheaval in some countries, many investors and high-net-worth individuals opt for Caribbean citizenship by investment. This choice provides a quick route to relocating to a secure country. Additionally, it grants visa-free travel worldwide, opens up significant business opportunities, and offers ways to optimize tax liabilities. However, to select the best program that meets your needs, it’s crucial to know the differences and advantages of each one. You can find in this article, a more detailed overview of Antigua vs Grenada citizenship by investment comparison and Grenada’s programs, so you can select the right one for you and your family.
Overview of Antigua vs Grenada citizenship by investment comparison and Grenada’s programs
Significant prospects
Antigua & Barbuda and Grenada, praised for their beautiful nature, tranquility, and relaxed lifestyle allow foreign investors and their families to secure citizenship and passports in exchange for a minimum investment in the country’s economy.
Both immigration schemes are straightforward, reliable, and affordable, providing their holders with several benefits, the most important of which are strong passports with the possibility of entering without a visa to around 150 destinations and access to a 10-year B1/B2 visa for the United States, among others.
However, Investors striving to relocate to the US and start their business can achieve their dream of gaining a US visa after acquiring Grenadian Citizenship. Grenada is considered the sole Caribbean country with a bilateral arrangement with the US for the E-2 non-immigrant visa, which opens the door to immense business, social, and educational opportunities in the US.
Both countries offer tax-friendly policies, flexible requirements, attractive business opportunities, and access to new, high-quality lifestyles.
| Benefits | Antigua and Barbuda | Grenada |
| Visa-free access | 154 destinations including the Schengen area, China, and the UK | 148 destinations including the Schengen area, China, Russia, KSA and the UK |
| Getting a US visa | Citizens receive a B-1/B-2 visitor visa to the US for 10 years, and when it expires, they extend it remotely. With this visa, investors can spend up to 180 days a year in the USA, get treated in American clinics, and participate in conferences and business meetings. | Grenada citizens can apply for the USA E-2 investor visa, which makes it possible to live and invest in the USA. |
| Citizenship eligibility | 6 to 8 months from the date of submitting your application to the issuance of the passport, assuming there are no areas of concern. | 6 to 8 months from the date of submitting your application to the issuance of the passport, assuming there are no areas of concern. |
| Residency requirement | No residency requirements, but after becoming citizens, applicants must visit the country for 5 days during the first 5 years of citizenship | No requirement to reside in Grenada |
| Family eligibility | Applicants can include spouse, children up to 30 years old, parents and grandparents above 55 years old, and unmarried siblings regardless of age | Applicants can include spouse, dependent children under 30 years old, parents and grandparents, unmarried siblings with no children |
| Tax eligibility | No tax obligation for non-residents
No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax |
No tax obligation for non-residents
No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax. |
| Education | Families of 6 or more who contribute to the University of West Indies can get free education for one of the dependents for one year.
Citizens can also study at British universities, and receive scholarships, and grants for travel, tuition, books, equipment, and accommodation in the UK because Antigua is a member of the Commonwealth of Nations. Free and compulsory primary and secondary education in schools that are organized as per the British model. |
In Grenada, education modeled on the British system is free and compulsory between ages 6 and 14.
Grenada has two universities[1], but one is world-renowned: St. George’s University (SGU), reported to have “placed more doctors into first-year US residency positions than any other medical school in the world” as of April 2013. The other university is T.A. Marryshow Community College (TAMCC), which offers 46 pro-grams across a wide range of disciplines, including arts, sciences, and technology. |
| Opening accounts | Investors can easily open accounts in European banks, solving the issue of currency control. Settlements between counterparties require fewer costs and time. | Investors can easily open accounts in European or American banks. That allows them to keep their money in hard currency and pay lower commissions for international transfers. |
| Application requirements | Mandatory interview for primary applicants and all dependents aged 16 and above, and thorough examinations | Mandatory online interview for main applicant, spouse, and all dependents aged 17 and above, and thorough examinations |
| Real estate income | Rent the property out and make a profit. In five years the property can be sold, thus the investor can return the money. | Rent the property out and make a profit. The investor can return the investment in 5 years by selling his share. |
Eligibility criteria
To apply for both citizenship by investment programs, there are certain requirements. The primary applicant must be over 18 years old, in good health, have outstanding character, and hold a clean criminal record. Applicants must pass a detailed background check and a basic due diligence process, and provide proof of funds, which must be legal income.
The application process for both programs is cost-effective, fast, and straightforward, typically taking just 6 to 8 months. No business experience, education, or language proficiency is required. Citizenship is granted for life, is irrevocable, and allows for dual citizenship. Applicants do not need to visit Grenada at any stage of obtaining citizenship. The same applies to Antigua and Barbuda, however, new citizens must spend at least 5 days in the country within the first 5 years of obtaining citizenship.
| Requirements | Antigua and Barbuda | Grenada |
| Investment options | 1. Non-refundable Contribution to the National Development Fund
2. Real Estate Investment in a government-approved project 3. Contribution to the University of West Indies Fund |
1. Non-refundable Contribution to the National Transformation Fund
2. Real Estate Investment in a government-approved project
|
| Age | 18 years and above | 18 years and above |
| Criminal Record | Clean | Clean |
| Health conditions | No severe illness | Excellent health |
| List of required documents | National passport
Birth certificate. Personal reference Marriage certificate, if applicable Affidavit of support for each dependent, if applicable Basic application form Investment confirmation form Photograph and signature certificate form Police certificate of no criminal record Tax returns and income statements. (If an investor chooses a property purchase, he should provide a purchase agreement |
Birth certificate of each applicant
Passport sized photos of each applicant taken with 6 months A copy of all the pages in the current passports of all applicants proof of address of the main applicant a marriage or divorce certificate for the main applicant and the spouse if applicable. A police certificate of all applicants above 17 years old A character reference letter A bank reference Proof of source of funds HIV test results for all applicants of 12 years and over An affidavit in support of dependents A resume or CV from the main applicant and the spouse |
| Process of obtaining citizenship | Contacting an agent and conducting preliminary due diligence
Collection of documents and applications Due diligence Fulfilment of the investment condition Obtaining a passport and taking an oath |
Contacting an agent and conducting preliminary due diligence
Preparation and Collection of documents and applications Due diligence: all documents are collected and sent to the Investment Migration Agency of Grenada along with the application. The investor’s presence is not required, as the authorized agent deals with all the requests that may arise in the process Approval and fulfilment of the investment condition. The Investment Migration Agency informs the agent when the application is approved Receiving the passport and a naturalization certificate within 4 weeks after the investment condition is fulfilled. |
Investment options
Both Caribbean programs are attractive and share many similarities such as rapid application process, affordable investment routes, and flexible application requirements with no residency requirements. However, Antigua’s program is currently cheaper than Grenada’s, with the minimum donation for a single applicant or a family of four at $100,000 compared to Grenada’s minimum amounts of $150,000 and $200,000 respectively.
Moreover, Antigua & Barbuda provides more diversified investment options, as applicants who have a family of 6 members or more can donate $150,000 or more to the University of the West Indies Fund, entitling one person to a one-year scholarship.
| Investment option | Antigua and Barbuda | Grenada |
| Non-refundable contribution | National Development Fund
$100,000 for a single applicant or a family of four $125,000 for a family of five or more (government fees: $30,000) Due diligence (Main applicant: $7,500, Spouse: $7,500, Dependent aged 12-17: $2,000, Dependent aged 18 years and over $4,000) |
National transformation Fund (NTF)
$150,000 for a single applicant $200,000 for a family of four Additional dependent $25,000 (processing fee per application: $1,000) Due diligence & Processing fees (Main applicant: $8,000) Note: No Due diligence for children below 17 years old. Processing fees for dependents below 18 years old is $500. |
| Real estate | Real Estate Investment:
$200,000 minimum investment In addition to government fees, and due diligence |
Real Estate Investment:
$220,000 minimum investment In addition to government fees for the main applicant up to family of four $50,000, additional dependent: $25,000, and the due diligence fee for the main applicant and additional dependent $5,000) |
| Education | Contribution to the University of West Indies Fund
$150,000 for a family of six In addition to government fees, and due diligence |
Not available |
The government authority in both countries processes all applications and conducts mandatory interviews and thorough examinations. They may reject any application if the applicant provides a false statement or omits relevant information.
In conclusion, both programs are very appealing for similar reasons, however, the investor’s decision should be based on his long-term goals and specific circumstances.