For investors looking to acquire Caribbean citizenship by investment, both Grenada and St. Kitts and Nevis programs are appealing. In just a few months and in exchange for a reasonably affordable investment, investors along with their families can obtain second citizenship and avail the myriad benefits that these passports bring.
You can find in this article, a more detailed overview of both programs, so you can select the right one for you and your family.
How to Obtain St. Kitts and Nevis Passport?
The Citizenship-by-Investment Program of St. Kitts and Nevis allows foreign investors to acquire a passport and citizenship if they meet certain criteria. St Kitts and Nevis passports and citizenship are granted for life to qualified applicants within 6 months with no residency requirements. However, as of 2023, the process could take more than 6 months.
Applicants are required to submit an application through an Authorized Agent and successfully pass a thorough due diligence process. They are also required to make either a non-refundable contribution to the Sustainable Growth Fund (SGF) or purchase a real estate property in a government-approved project for a minimum of $200,000. Application forms are only available with authorized agents.
How to Obtain Grenada Passport?
Applying to citizenship by investment program in Grenada can only be done through a government-approved agent, therefore, applicants must sign a service agreement with an authorized agent. To qualify for citizenship and gain a Grenada passport by investment, applicants need to pass a strict due diligence process and a detailed background check. The main applicant must be over 18 years, in good health, and must provide proof of funds, which must be legal income. In addition, they must contribute a non-refundable contribution of at least $150,000 to the National Transformation Fund (NTF) or purchase real estate worth $220,000 in a government-approved project, along with a payment of applicable government fees.
Points to Consider When Applying for St. Kitts and Nevis Citizenship
To apply for St. Kitts and Nevis citizenship, applicants must be at least 18 years old, they should be of good character without any criminal record. They should be financially stable, have a clean police record, able to demonstrate a source of legal income, and provide proof of medical fitness.
If applicants don’t meet these criteria or have been found guilty of fraud or other illegal activity, the result would be a refusal of the citizenship application. However, applicants will be given a reason for the refusal and can appeal the decision if they think it’s unfair. Applicants must keep few things in mind during the process, the most important of which is being patient because the application process can take up to six months to complete. They have to make sure that they have all the required documentation before beginning the application and be prepared to provide detailed information about their finances, employment, and education. They should complete the application in full and truthfully, as any inaccuracies could delay the process.
Applicants should know that the decision on their application is ultimately up to the citizenship officer who reviews the case. There is always a chance that their application could be denied, and if this happens, they can always reapply later.
Points to Consider When Applying for Grenada Citizenship
To apply for Grenada citizenship, there are certain requirements. The primary applicant must be over 18 years old, in good health, he should have an outstanding character, and holding a clean criminal record. Applicants must pass a detailed background check, and provide proof of funds, which must be legal income. The Grenada passport by investment is available to the individual’s family.
The investment application is assessed by Grenada’s CBI Committee (CBIC) and the application process is handled by authorized international agents, alongside a local agent. Once the citizenship application is submitted to the CBIC, the Grenadian government will assess each application carefully. CBIC undertakes a strict routine due diligence process to secure application approval. If the applicant makes a false statement or fails to include relevant information in the citizenship application, then they will be declined. While the due diligence is being carried out, an initial deposit is required from the investor. Once the due diligence checks are approved, qualified foreign investors will need to provide the investment into Grenada and the proof of the respective investment. Following this foreign direct investment, citizenship documents and a Grenadian passport are issued.
St. Kitts and Nevis Citizenship
The Citizenship-by-Investment Program of St. Kitts and Nevis was established in 1984, making it the oldest and one of the most reputable programs in the world. It allows foreign investors to acquire a St Kitts and Nevis passport and citizenship if they meet certain criteria and successfully pass a thorough due diligence process. St Kitts and Nevis passport and citizenship are irrevocable and granted for life to qualified applicants within 6 months with no residency requirements.
Grenada Citizenship by Investment
The Grenada Citizenship by Investment program enables qualified investors to obtain citizenship and a second passport without residency requirements before or after applying. The application process for this program is cost-effective, fast, and straightforward, and an approval can be issued within 60 days, with no interview, education, and management experience required to apply. Grenada’s citizenship is granted for life and is irrevocable, and dual citizenship is allowed. When applying for this program, qualified children and parents, as well as unmarried siblings of any age, can be included under one application. Grenada citizenship can be obtained in exchange for an investment in the country’s economy.
Benefits of St. Kitts and Nevis Citizenship by Investment Programs
A St. Kitts and Nevis passport allows visa-free access to 157 destinations, including EU Schengen area, the United Kingdom, Ireland, and Russia, as well as easy obtaining of a B-1/B-2 visa for the United States, which can be valid for 10 years. St. Kitts and Nevis passport holders can also get a 10-year tourist visa to Canada that grants multiple 180-day entries. They can also benefit from tax exemptions, as there is no tax applicable on income received outside of its borders.
St. Kitts and Nevis passport is issued for 10 years and can be renewed. A spouse, children under 25, and parents over 55 can receive citizenship with the investor without any residency requirements. Passport holders have access to quality education, and students can apply for fully funded scholarship programs in the country and in the UK and the US as well. St. Kitts and Nevis is known for its medical institutions, hosting the University of Medicine and Health Science. There are plenty of business opportunities in St. Kitts and Nevis, and it is famous for its foreign-friendly business policies. The country guarantees as well financial privacy by not making any information about offshore business owners and top managers public.
Benefits of Second Citizenship in Grenada
Grenada’s citizenship can provide its holders with a lot of benefits, mainly gaining visa-free or visa on arrival to 146 countries including the UK, Schengen area, and China. Investors striving to relocate to the US and start their business can simply 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. The E-2 visa is considered one of the most cost-effective methods to start a business in one of the world’s most prosperous economies. However, to qualify for the E-2 non-immigrant visa, a Grenadian citizen must meet certain investment and eligibility criteria and be able to prove that they have been domiciled in Grenada for the past 3 years prior to submitting an E-2 visa application. This is in accordance with the AMIGOS Act (as part of the National Defense Authorization Act – NDAA) which was passed by the US congress in late 2022.
Grenada is also a stunning island, which is perfect to live in peace and serenity after retirement from many years of hard work. The country also does not impose taxes on foreign income, capital gains, dividends, wealth, and inheritance. There is also no tax obligation for non-residents. Moreover, citizens of Grenada have access to an international airport with direct flights to the UK, USA, and Canada. Grenada is also home to top hospitals and universities including St. George’s University which is one of the top medical schools in the region.
Comparing Table with Main Points
Program characteristics |
St. Kitts and Nevis citizenship by investment |
Grenada Citizenship by investment |
Application time | 4 – 6 months + | 4 to 5 months |
Passport global ranking | 26th giving holders visa-free access to 157 destinations | 34th giving holders visa-free access to 146 destinations |
Qualifying investment |
$125,000 (single applicant) $150,000 (main applicant and spouse) $170,000 (family with two dependents)
$200,000 minimum investment $400,000 in a qualified private home
|
$150,000 (single applicant) $200,000 (family of four) 2. Real Estate Investment: $220,000 minimum investment |
Taxes | No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax | No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax |
Residency rule | No residency requirements | No residency requirements |
Family eligibility | Inclusion of spouse, dependent children under 25, siblings (under certain conditions), and parents and grandparents aged 55 or over | Applicants can include spouse, dependent children under 30 years, parents and grandparents, as well as siblings under the age of 18 years (unmarried with no children) |
Application requirements | No interview, language, or residency requirement is necessary | No interview, language, or residency requirement is necessary |
St. Kitts and Nevis – Grenada Comparison: At a Glance
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. They also provide investors with a favorable tax regime, and visa-free access to more than 145 destinations including the Schengen area, and the UK.
However, the programs vary on a few crucial points, which can help candidates select the most suitable one. For instance, Grenada is the sole Caribbean country that holds the desired E-2 visa treaty with the US, allowing citizens to apply for a non-immigrant visa and reside there if they meet certain investment and domicile criteria, opening the door to immense business, social, and educational opportunities in the US. Grenada passport holders can also apply for a US 10-year B-1/B-2 tourist visa and stay in the country for up to 180 days every year. Therefore, for investors who have specific needs, such as accessing the US E2 visa, then Grenada may be the best option.
If applicants are planning to include family members in the application, each program has slight differences. Both accept spouses and children under 30 years old. While Grenada accepts siblings of any age (as long as they are unmarried and have no children), St Kitts and Nevis has a limit of 30 years old. On the other hand, they only accept parents and grandparents aged 55 and above, whereas Grenada has no age requirements for parents and grandparents.
Moreover, St. Kitts and Nevis passport is currently more affordable than Grenada with the minimum donation for a single person at $125,000 and a family of four at $170,000(special offer from 1 Jan to 30 June 2023), compared to Grenada’s minimum amounts of $150,000 and $200,000 respectively.
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.