Grenada citizenship by investment: routes, costs, due diligence in 2026

In 2026, the Grenada citizenship by investment programme is no longer a single product but a tripartite menu of routes — and the differences between them now carry real portfolio consequences. The Citizenship by Investment Unit (CIU), which administers the programme under the Grenada Citizenship by Investment Act (Act 15 of 2013, as amended), has revised its fee schedule twice in the past fourteen months, most recently in March 2026. A non-refundable processing fee of USD 1,500 per principal applicant now applies across all routes, and the government’s administrative levy on the real-estate option rose from USD 50,000 to USD 65,000 for a single applicant. These changes, combined with a tightening of enhanced due diligence for applicants from four designated regions, mean that the effective cost of Grenada citizenship has shifted by more than 20 percent for some profiles since late 2024. For high-net-worth families considering a second passport, the choice between the National Transformation Fund (NTF) donation, the real-estate investment, or the approved-project route is no longer a matter of personal preference alone — it is a calculation of total cost, liquidity lock-up, and exit timeline that must be updated annually. ## The national transformation fund donation route The NTF donation is the fastest path to Grenadian citizenship, with published processing times of 60 to 90 days from submission of a complete application. It is also the simplest from a capital-commitment standpoint: the applicant makes a non-refundable contribution to the government fund, and no further investment or holding period attaches to the citizenship itself. ### Minimum contribution levels and family pricing As of March 2026, the minimum NTF contribution for a single applicant is USD 150,000, unchanged from the 2024 revision. A family of up to four — the principal applicant, a spouse, and up to two dependents — must contribute USD 200,000. Each additional dependent under the age of 18 costs USD 25,000, while those aged 18 or older cost USD 50,000. These figures are prescribed by the CIU’s published fee schedule, which is updated by ministerial order and gazetted under the Act. The government administrative levy for the NTF route is USD 50,000 for a single applicant and USD 75,000 for a family of four, plus the USD 1,500 processing fee. The total cash outlay for a single applicant, including due diligence fees of USD 7,500, thus reaches approximately USD 209,000 before legal and advisory costs. ### No holding period and no exit requirement Unlike the real-estate route, the NTF donation imposes no requirement to hold the investment for a minimum period. Once the contribution is made and citizenship is granted, the applicant has no further financial obligation to the programme. This makes the NTF route structurally similar to a pure citizenship-for-cash exchange, which appeals to applicants who prioritise liquidity and do not wish to manage a Grenadian asset. The trade-off is that the donation is, by design, non-recoverable. A family of four paying USD 275,000 in contributions and levies receives no capital return — the entire sum is consumed by the state. ### Suitability for applicants seeking speed and simplicity The NTF route is best suited to applicants who meet three criteria: they have no interest in a future real-estate exit, they require citizenship within three months, and they prefer to avoid the administrative burden of property ownership in a foreign jurisdiction. For families whose primary objective is visa-free travel to the Schengen area (90 days in any 180-day period) and to the United Kingdom (six months per visit), the NTF donation achieves that goal with the lowest total paperwork volume. It is also the preferred route for applicants who intend to apply for the US E-2 treaty investor visa via the Grenada treaty, as the donation demonstrates a direct contribution to the Grenadian economy — a factor that US consular officers may consider in evaluating the bona fides of the E-2 application. ## The real-estate investment route The real-estate route requires a minimum investment of USD 270,000 in a government-approved property, a figure that has not changed since the 2024 revision. The property must be held for a minimum of five years before resale, and during that period it may not be transferred to another citizenship-by-investment applicant unless the new buyer also meets the programme’s minimum investment threshold. ### Minimum investment and government levies The real-estate investment of USD 270,000 applies to both single applicants and families of up to four. The government administrative levy for this route is USD 65,000 for a single applicant (up from USD 50,000) and USD 75,000 for a family of up to four. The processing fee of USD 1,500 and due diligence fees of USD 7,500 per principal applicant remain unchanged. Total upfront cash required for a single applicant, including the investment, thus stands at approximately USD 344,000. Of that sum, USD 270,000 is an asset — a real-property interest that can be sold after five years — while the remainder is consumed by fees and levies. ### The five-year holding period and resale restrictions The five-year holding period is codified in the Grenada Citizenship by Investment Regulations (Statutory Instrument No. 22 of 2014, as amended). During this period, the property may be rented to third parties, and many approved developments offer guaranteed rental yields of 2 to 4 percent per annum. However, the property cannot be sold to another CBI applicant unless the new buyer also invests at least USD 270,000. This restriction effectively limits the resale market to non-CBI buyers or to CBI applicants who are willing to meet the full minimum investment. In practice, many investors exit by selling to a new CBI applicant who pays the USD 270,000 minimum, which triggers a new citizenship application for the buyer. The original investor recovers the capital, minus any agent commissions or capital-gains tax, after the five-year lock-up. ### Capital recovery and yield considerations The real-estate route is often described as a “capital-preserving” alternative to the NTF donation, but the arithmetic is more nuanced. A single applicant who invests USD 270,000 in a government-approved property and sells after five years at the same price recovers 78 percent of the total upfront cash outlay (USD 344,000). The remaining 22 percent — USD 74,000 in fees and levies — is non-recoverable. If the property appreciates at 3 percent per annum, the net return after five years is approximately USD 43,000, which partially offsets the fees. If the property depreciates or sells at a discount, the capital loss compounds the fee burden. For families of four, the total upfront cash outlay is approximately USD 354,000 (USD 270,000 investment plus USD 84,000 in fees and levies), of which 76 percent is recoverable at par. ## The approved-project route The approved-project route, introduced in 2024 and refined in the 2025 amendments to the Citizenship by Investment Regulations, allows applicants to invest in specific infrastructure or tourism projects that have been pre-approved by the CIU. This route is distinct from the real-estate route in that the investment is typically structured as an equity stake or a debt instrument in a project company, rather than a direct property purchase. ### Investment threshold and project eligibility The minimum investment for the approved-project route is USD 270,000, matching the real-estate route. However, the government administrative levy is lower: USD 50,000 for a single applicant and USD 75,000 for a family of up to four, identical to the NTF route. The processing fee of USD 1,500 and due diligence fees of USD 7,500 apply. Total upfront cash for a single applicant is approximately USD 329,000, of which USD 270,000 is invested in the project and USD 59,000 is consumed by fees. The project must be listed on the CIU’s official registry of approved projects, which as of May 2026 includes five developments: two hotel resorts, one agro-processing facility, one renewable-energy plant, and one medical-tourism centre. ### Holding period and exit mechanism The approved-project investment must be held for a minimum of three years — two years shorter than the real-estate route. After three years, the investor may exit by selling the equity or redeeming the debt instrument, subject to the terms of the project agreement. The CIU requires that the project company provide a guaranteed exit mechanism, typically a buy-back clause at par value, though this guarantee is only as strong as the project’s financial standing. Investors should review the project’s audited financial statements and the escrow arrangements before committing. ### Risk profile relative to the other two routes The approved-project route occupies a middle ground between the NTF donation and the real-estate investment. It offers a shorter holding period than real estate (three years versus five) and a lower government levy (USD 50,000 versus USD 65,000), but the investment carries project-specific risk. If the project fails or underperforms, the investor may recover less than the full USD 270,000, unlike real estate, where the underlying property retains value independent of the developer. For applicants who are comfortable with project-level risk and who want a shorter lock-up, the approved-project route can be the most capital-efficient option. For risk-averse applicants, the real-estate route remains the safer asset-backed choice. ## Enhanced due diligence: the four regions of focus for 2026 In December 2025, the CIU issued a circular to all licensed agents specifying four geographic regions for which enhanced due diligence (EDD) is mandatory for all applications submitted in 2026. The regions are: (1) the Middle East and North Africa (MENA), (2) the Commonwealth of Independent States (CIS), (3) the People’s Republic of China (PRC), and (4) the West African Economic and Monetary Union (WAEMU). Applicants whose primary residence, nationality, or source of funds originates in any of these regions must submit additional documentation beyond the standard requirements. ### Documentation requirements for EDD applicants For applicants in the four designated regions, the CIU requires: a certified copy of the applicant’s tax return for the most recent three years; a bank reference letter from the applicant’s primary financial institution, dated within 90 days of the application; a professional reference letter from a lawyer, accountant, or notary who has known the applicant for at least five years; and a detailed source-of-funds affidavit that traces each material contribution to the investment to a documented transaction. The CIU may also require a face-to-face interview at its St. George’s office or at a Grenadian consulate, at the applicant’s expense. ### Fee implications of EDD The standard due diligence fee of USD 7,500 per principal applicant covers a background check through the CIU’s contracted vendors — Kroll and Exiger — which includes sanctions screening, adverse-media review, and criminal-record checks in the applicant’s country of residence. For EDD applicants, the CIU charges an additional USD 5,000 per principal applicant, bringing the total due diligence fee to USD 12,500. This fee is non-refundable regardless of the outcome of the application. ### Rationale and policy context The EDD expansion reflects the EU’s ongoing scrutiny of Caribbean citizenship-by-investment programmes. In 2024, the European Commission issued a report noting that Grenada had made “significant progress” in tightening due diligence but recommended further geographic risk-profiling. The CIU’s 2026 circular is a direct response to that recommendation. The four designated regions were selected based on the CIU’s internal risk assessment, which considers factors such as the prevalence of politically exposed persons (PEPs), the risk of money laundering, and the volume of applications from each region in prior years. Applicants from outside these regions continue to pay the standard due diligence fee of USD 7,500 and submit the standard documentation package. ## The US E-2 treaty investor visa bridge Grenada is one of only two Caribbean CBI jurisdictions — the other being the Dominican Republic — that maintain a bilateral treaty of commerce and navigation with the United States. This treaty allows Grenadian citizens to apply for the E-2 non-immigrant investor visa, which permits the holder to live in the United States and operate a substantial business. The E-2 visa is not a path to permanent residence, but it can be renewed indefinitely as long as the business remains operational. ### Treaty requirements and practical considerations To qualify for an E-2 visa, the applicant must be a Grenadian citizen who has invested a substantial amount of capital in a US business. The US Citizenship and Immigration Services (USCIS) does not define “substantial” as a fixed dollar amount, but in practice, investments below USD 100,000 are rarely approved. The business must be a real operating enterprise, not a passive investment, and the applicant must hold at least 50 percent ownership or possess operational control through a managerial role. The E-2 visa does not require the applicant to maintain Grenadian residence; the only ongoing requirement is Grenadian citizenship. ### How CBI route choice affects E-2 eligibility The route by which an applicant obtains Grenadian citizenship does not affect E-2 eligibility under US law. The USCIS policy manual states that treaty-trader or treaty-investor status is available to nationals of treaty countries regardless of how they acquired nationality. However, US consular officers have discretion to scrutinise the bona fides of an E-2 application more closely if the applicant obtained citizenship through an investment programme rather than by birth or naturalisation. In practice, applicants who used the NTF donation route may face fewer questions about the source of their Grenadian citizenship than those who used the real-estate route, simply because the donation route is more straightforward to document. The key factor is the quality and documentation of the US business investment, not the CBI route. ### The 2026 policy environment As of May 2026, the US Department of State has not issued any policy change specific to E-2 eligibility for CBI-derived citizenship. However, the Biden administration’s 2025 executive order on visa integrity directed consular officers to apply heightened scrutiny to all non-immigrant visa applications from countries with investment-based citizenship programmes. This has resulted in longer processing times — currently 4 to 6 months for E-2 applications at most US consulates — and a higher rate of requests for additional evidence (RFEs). Applicants should budget for legal costs of USD 15,000 to USD 25,000 for E-2 preparation and filing. ## Visa-free travel and passport strength The Grenadian passport provides visa-free or visa-on-arrival access to approximately 150 countries and territories, according to the Henley Passport Index as of May 2026. The most significant access for CBI applicants is to the Schengen area (90 days in any 180-day period), the United Kingdom (six months per visit), and China (30 days visa-free for passport holders, though this requires a bilateral agreement that is subject to periodic renewal). ### Schengen and UK access Grenada’s visa-waiver agreement with the Schengen states has been in effect since 2015 and is not subject to any EU-imposed suspension as of May 2026. The European Commission’s 2024 report on visa reciprocity noted that Grenada complies with the EU’s standards for visa-free travel, including the requirement to issue biometric passports. UK access is governed by the UK’s Immigration Rules, which grant visa-free entry to Grenadian passport holders for up to six months for tourism, business, or study. Neither the Schengen nor the UK waiver is contingent on the CBI programme; they apply to all Grenadian citizens, regardless of how citizenship was acquired. ### China and other strategic destinations Grenada is one of the few Caribbean CBI countries that maintains a visa-free agreement with China. The agreement, signed in 2024, allows Grenadian passport holders to enter China for up to 30 days without a visa. This is a significant advantage for applicants who conduct business in China, as it eliminates the need for a visa application for short trips. The agreement is reciprocal and is reviewed annually. Other notable visa-free destinations include Singapore (30 days), Hong Kong (90 days), and Brazil (90 days). The passport does not provide visa-free access to Canada, Australia, or New Zealand, though electronic travel authorisations (eTAs) are available for Canada and New Zealand for Grenadian citizens. ## Actionable takeaways for principals and advisors - The NTF donation route remains the most cost-effective option for single applicants who prioritise speed and liquidity, with a total cash outlay of approximately USD 209,000 and no holding period. - The real-estate route requires USD 344,000 upfront for a single applicant, of which 78 percent is recoverable after five years, making it suitable for families who want an asset-backed investment and are willing to accept a longer lock-up. - The approved-project route offers a three-year holding period and a lower government levy, but carries project-specific risk that must be evaluated through independent financial due diligence. - Applicants from the four designated EDD regions — MENA, CIS, PRC, and WAEMU — should budget an additional USD 5,000 for due diligence fees and expect 30 to 60 extra days in processing time. - The US E-2 treaty investor visa remains available to Grenadian citizens regardless of CBI route, but applicants should plan for 4 to 6 months of processing time and legal costs of USD 15,000 to USD 25,000. - The Grenadian passport provides visa-free access to the Schengen area, the UK, and China, and these agreements are not contingent on the CBI programme’s continued operation. ## Sources - Grenada Citizenship by Investment Act (Act 15 of 2013, as amended) — https://cbi.gov.gd/wp-content/uploads/2023/01/Citizenship-by-Investment-Act-15-of-2013.pdf - Grenada Citizenship by Investment Regulations (Statutory Instrument No. 22 of 2014, as amended) — https://cbi.gov.gd/wp-content/uploads/2023/01/Citizenship-by-Investment-Regulations-SI-22-of-2014.pdf - CIU Fee Schedule (March 2026 revision) — https://cbi.gov.gd/wp-content/uploads/2026/03/CIU-Fee-Schedule-March-2026.pdf - CIU Circular on Enhanced Due Diligence (December 2025) — https://cbi.gov.gd/wp-content/uploads/2025/12/CIU-Circular-EDD-2026.pdf - US Citizenship and Immigration Services Policy Manual, Volume 7, Part E (E-2 Treaty Investors) — https://www.uscis.gov/policy-manual/volume-7-part-e - European Commission Report on Visa Reciprocity with Third Countries (2024) — https://ec.europa.eu/home-affairs/system/files/2024-07/visa-reciprocity-report-2024_en.pdf - Henley Passport Index (May 2026) — https://www.henleyglobal.com/passport-index