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Grenada attracts wealthy Asians

Regional 23 Jan, 2023 Follow News

St George’s is Grenada’s picturesque capital

The Molinere underwater sculpture park

Grenada is attracting many wealthy south-east Asian residents for its Citizenship by Investment Program, particularly Thailand. 

The picturesque Spice Island has a year-round temperate climate and — like Thailand — exotic, diverse scenery and breath-taking beaches, making it a home from home. Grenada’s other attractions include is fantastic restaurants, carnivals, great landscapes and the Molinere underwater sculpture park. St George’s, the capital, is a thriving international hub.

Interest in obtaining an alternative residence or additional citizenship has spiked in recent years as affluent investors seek to improve their global mobility, mitigate risk, and secure a plan B. Spoilt for choice with over 35 investment migration programs available, the Grenada Citizenship by Investment Program stands out as a top option for high-net worth individuals and families in Thailand. They are looking for an efficient, cost-effective way to expand their travel freedom and improve their business opportunities, or find a secluded, safe place to live or retire.

While several Caribbean nations have citizenship by investment programs, Grenada’s is currently the most popular and sought after because Grenadian passport holders can travel visa-free or by visa-on-arrival to 146 destinations, including Singapore, the UK, Europe’s Schengen Area, and China.

They can also include in their applications whole families, including spouses, any children under 30, unmarried siblings over the age of 18, parents, and grandparents. Another Grenadian citizenship is transferable to new spouses and future generations.

Applicants can keep their current nationality because Grenada has no restrictions on dual citizenship. Unlike many other programs, there is no minimum stay required in Grenada to acquire or maintain citizenship.

It is a relatively quick and easy process. Grenada’s efficient application process means applicants can become a citizen in as little as three to four months from the date of submitting applications, and they are not required to visit Grenada to complete the process.

The National Transformation Fund is to make a minimum non-refundable contribution of US$150,000 for a single applicant or US$200,000 for a family of up to four members. Real estate investment must be a minimum of US$220,000 in a government-approved real estate project. An additional minimum non-refundable contribution of USD 50,000 applies.

Due to its highly efficient application process, anyone choosing the NTF option it is possible to submit an application and receive an answer from the Grenadian government within 90 days. Successful applicants then usually receive their passport within 10 business days.

It’s clear to see why the Grenada Citizenship by Investment Program is the perfect match for wealthy families in Thailand looking to unlock global access and create opportunity while mitigating risk.

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