Grenada and Dominica, each boasting their unique charm and allure, have carved a niche for themselves in the world of citizenship by investment. However, the choice between the two can be a daunting one, as investors must weigh various factors such as investment requirements, visa-free travel opportunities, and the overall benefits of obtaining citizenship from either country.
In this article, we delve into the intricacies of the Grenada vs Dominica citizenship by investment programs, dissecting their key features and comparing them side by side. By the end of this comprehensive analysis, you will be equipped with the knowledge necessary to make an informed decision about which Caribbean nation aligns best with your personal and financial goals. Whether you are seeking a tropical paradise to call home, a robust passport for global mobility, or a smart investment opportunity, this comparative exploration will help you navigate the exciting world of citizenship by investment in Grenada and Dominica.
Caribbean Citizenship by Investment Program Benefits
Fast application process
Minimum investment starts from $100,000
Multiple investment options
Family
eligibility
No residency requirements
Favorable tax environment
Visa-free travel to over 140 countries
Dual
citizenship
Calculate the cost of citizenship for you and your family, including all associated fees.
Grenada vs Dominica: The Main Points
Grenada Citizenship by Investment | Dominica Citizenship by Investment | |
Application Time | Three to four months | Two to three months |
Passport Global Ranking | 74th. Visa-free access to China, Hong Kong, Russia, Singapore, the UK, the Schengen Zone, and more. | 78th. Visa-free access to China, Hong Kong, Russia, Singapore, the Schengen Zone, and more. |
Qualifying Investment | NTF: Minimum donation of $150,000 (single applicant) OR $200,000 (family of four) Real estate: Minimum investment of $220,000 (real estate shares) OR $350,000 (sole owner) | EDF: Minimum donation of $100,000 (single applicant) OR $175,000 (family of four) Real estate: $200,000 minimum investment |
Taxes | No income tax on foreign income, wealth tax, gift tax, inheritance tax, or capital gains tax | No income tax on foreign income, wealth tax, gift tax, inheritance tax, or capital gains tax |
Residency Requirements | No stay requirements | No stay requirements |
Family Eligibility | Inclusion of spouse, dependent children under 30, unmarried siblings with no children, parents and grandparents | Inclusion of spouse, children under 30 in education, unmarried daughters under 25, parents and grandparents over 65 |
Application Requirements | No language or residency requirements | No language or residency requirements |
Who can apply for citizenship?
To make an application for citizenship through either of these programs, the main applicant must fulfill the following requirements:
- Be over 18 years old
- Be able to demonstrate an outstanding character
- Be in excellent health
- Have a clean criminal record
- Pass a detailed background check
Grenada Citizenship by Investment
Famous for being the “Spice Island” of the Caribbean – due to its production of spices such as cinnamon, ginger, and nutmeg – Grenada offers a stable political environment, a warm and tropical climate, and a friendly and welcoming local population. Grenada is made up of three main islands: Grenada, Carriacou, and Petit Martinique, as well as a collection of smaller islands. Here you’ll find an unspoiled natural environment full of wonderful things to do and see, such as exploring the nation’s rich history by visiting the Underwater Sculpture Park in St George’s. You can also visit the numerous waterfalls and beaches, go on hikes, enjoy watersports, and more.
The Grenada Citizenship by Investment Program was launched in 2013 and offers foreign investors and their families a fast and straightforward way to obtain second citizenship in the Caribbean.
Investment options
Grenada’s citizenship program offers two investment routes:
- Non-refundable donation of at least $150,000 to the National Transformation Fund (NTF). For a family of up to four, the minimum donation is $200,000.
- Investment of at least $220,000 in real estate shares or $350,000 as a sole owner
In addition to the qualifying investment, you will also encounter due diligence fees, application fees, processing fees, interview fees, and government fees.
Grenada citizenship benefits
The benefits of obtaining citizenship by investment in Grenada are many, including a fast obtainment period and the ability to recover your initial investment when investing in real estate, a second passport for your family members, smooth banking processes on the island compared to non-citizens, and the option to educate your children abroad thanks to the nation’s close historical and economic ties with the UK and US. The investment options are also relatively affordable for individuals and families.
Dominica Citizenship by Investment
Dominica – officially the Commonwealth of Dominica – is an island located in the Eastern Caribbean Sea. This beautiful island is known for its lush rainforests and tropical climate and is a popular vacation spot for everyone from families and retirees to digital nomads. The main languages spoken here are English and French Patois, and the island offers plenty in the way of entertainment. The National Museum of Dominica houses an outstanding collection highlighting the nation’s social history, archaeology, culture, and geology, while the Botanical Gardens allows you to have an up-close look at the island’s variety of fauna and flora.
Another attraction is the Dominica Citizenship by Investment Program, which was established in 1993, as it offers investors and their families an affordable way to obtain Dominica citizenship in a relatively short period of time.
Investment options
If you choose to pursue the Dominica Citizenship by Investment Program, you can apply under the following investment routes:
- Minimum donation of $100,000 to the Economic Diversification Fund (EDF). For a family of four, the minimum contribution is $175,000.
- Minimum purchase of $200,000 worth of real estate shares in a development project approved by the government.
In addition to the qualifying contribution amount for each route, you will need to pay fees such as due diligence fees, application fees, passport fees, government fees, and Oath of Allegiance fees.
Dominica citizenship benefits
As a Dominica citizen, you can enjoy the many benefits of having a Caribbean passport. This includes affordable investment options, visa-free travel to over 140 destinations across the globe, and the opportunity to apply for a long-term B-1/B-2 visitor visa to the US. This visa is particularly useful if you frequently travel to the US as it enables you to remain in the country for up to six months in a year and attend business meetings/conferences, take short-term courses, and get treatment at local hospitals. In addition to this, you can benefit from an optimized tax environment, dual citizenship, and the possibility of receiving a return on your investment under the real estate route.
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Grenada vs Dominica Citizenship: Which program is right for you?
The right program for you will depend on your individual circumstances and expectations. The pros and cons of these Caribbean citizenship by investment programs come down to a few key factors, which we discuss below.
Tax benefits
The governments of both Dominica and Grenada have created favorable tax environments with policies intended to attract foreign investment in their respective countries. These policies include no income tax on foreign income, no wealth tax, gift tax, inheritance tax, or capital gains tax, and even tax exemptions or holidays. For example, Dominica has double tax treaties with the US and the Caribbean Community (CARICOM), meaning you will not face restrictions on the repatriation of profits or imported capital. Grenada, on the other hand, offers a lower tax rate of ten percent for hotels, villa-type accommodations, and dive operations.
Enhanced global mobility
Both the Grenada passport and Dominica passport offer visa-free access to over 140 countries, including China and Russia. Grenada passport holders have the added benefit of being allowed to travel visa-free to the UK.
Investment options
Both the Grenada and Dominica citizenship by investment programs offer two investment routes: A fund donation and a real estate investment. Applicants to the Grenada CBI program can make a non-refundable donation to the National Transformation Fund, purchase a property as a sole owner, or invest in government-approved real estate shares. Applicants to the Dominica CBI program can make a non-refundable contribution to the country’s Economic Diversification Fund or invest at least $200,000 in government-approved real estate.
Time to obtain citizenship
Both countries have a similar processing time to obtain Caribbean citizenship, with Dominica taking an average of two to three months and Grenada three to four months. Additionally, both countries allow dual nationality.
Flexible requirements
While the Grenada passport is more powerful, Dominica’s citizenship program is more convenient and streamlined for investors. Grenada citizens get to travel more freely with more visa free countries, but Dominica citizenship by investment has less requirements, lower costs, and is processed faster.
The application process for both Caribbean CBI programs can be completed remotely from the comfort of your current location. Additionally, neither country requires you to spend any time there in order to maintain your citizenship once it has been granted. Finally, both programs require applicants to partake in mandatory interviews as part of the due diligence process. For Grenada, this includes applicants aged 17 and older. For Dominica, this includes applicants aged 16 and older. Fortunately, the interview process for both programs is conducted virtually.
Cost and family inclusion
Both the Grenada and Dominica CBI programs offer relatively affordable investment routes. However, Dominica’s minimum investment amount is lower for individuals ($100,000) and families of four members ($175,000). Both programs allow for the inclusion of family members, however their eligibility requirements do differ.
Grenada allows for the following family members to be included:
- Spouse
- Children under the age of 18
- Children aged 18 to 29 who are supported by the main applicant or spouse
- Children aged 18 or over who are mentally or physically challenged
- Parents or grandparents of the main applicant or spouse who are fully supported by the main applicant
- Siblings of the main applicant or spouse – biological or adopted – who are at least 18 years old, unmarried, and without children
Dominica allows for the following family members to be included:
- Spouse
- Children of the main applicant or spouse under the age of 18
- Children between the ages of 21 and 30 who are attending an institution of higher education and supported by the main applicant or spouse
- Unmarried daughters under 25 who are supported by and living with the main applicant or spouse
- Dependent children who are mentally or physically challenged and supported by the main applicant or spouse
- Dependent parents and grandparents of the main applicant or spouse who are over 65 years old
In addition to the qualifying contribution for each program’s investment routes, applicants will also be required to pay additional fees. The table below breaks down the fees associated with the CBI programs.
Grenada | Dominica | |
Application Fee | $1,500 per person | $1,000 per application |
Due Diligence Fee | $5,000 per family member aged 17 or over | $7,500 for a single applicant $4,000 per family member aged 16 or over |
Government Fee | Real estate: $50,000 for a family of up to four | Real estate: $25,000 for a single applicant $35,000 for a family of up to four |
Interview Fee | $1,000 per applicant aged 17 or over | N/A |
Processing Fee | $500 per person under 18 $1,500 per person aged 18 or over | N/A |
Passport Fee | N/A | $500 per passport |
Oath of Allegiance Fee | N/A | $250 per person |
Strong points of the Grenada program
- Visa-free access to the UK
- Flexible family eligibility requirements
- Opportunity to obtain a US E-2 Visa to settle in the US
- Higher passport rank
Strong points of the Dominica program
- Affordable investment options starting at $100,000
- Opportunity to apply for a B-1/B-2 Visa to the US
- Fast obtainment period
- Voted the “Best Citizenship by Investment Program in the World” for four years in a row by the CBI Index
As you can see from our Grenada vs Dominica citizenship guide, here are many benefits to each of these Caribbean citizenship programs. The right option to obtain Caribbean passports for you and your family will depend on your circumstances and the kind of advantages you would like to benefit from. For families of four, Dominica offers a more affordable route, but if you require easy access to the UK – perhaps for business – then Grenada is the better option. Why not contact us today to help you kickstart your application and get you one step closer to your dream of second citizenship in the Caribbean.
Why work with Global Citizen Solutions?
When working with Global Citizen Solutions, you will benefit from the following:
- Global approach by local experts. We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean citizenship programs.
- 100 percent approval rate. We have never had a case rejected and will offer you an initial free-of-charge due diligence assessment before signing any contract.
- Independent service and full transparency. We will present to you all the investment options available, and all expenses will be discussed in advance, with no hidden fees.
- An all-encompassing solution. A multidisciplinary team of immigration lawyers, investment specialists, and tax experts will take into consideration all your and your family’s mobility, tax, and lifestyle needs.
- Confidential service and secure data management. All private data is stored within a GDPR-compliant database on a secure SSL-encrypted server.
Get in touch with a Caribbean Citizenship by Investment specialist
Frequently Asked Questions about Grenada vs Dominica
When it comes to obtaining Caribbean citizenship, you can choose from five countries: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia. If it’s a choice between the Caribbean countries of Grenada and Dominica, the best choice for you will depend on your individual circumstances and requirements. Both passports enable visa-free travel to over 140 countries, but Grenada passport holders have the added benefit of access to the UK. Grenada also ranks slightly higher on the Global Passport Index, but Dominica offers more affordable investment options.
Yes, you can acquire Grenada citizenship through the country’s citizenship by investment program. By investing a minimum of $150,000 in the country, and meeting the program’s eligibility requirements, you can obtain a Caribbean passport for you and your family. Citizenship is lifelong and can be passed down to future generations.
Yes, you can obtain citizenship in Dominica by applying to the country’s citizenship by investment program. Under the program, you can make a real estate investment or make a donation to the Economic Diversification Fund. The minimum contribution amount is $100,000 for a single applicant or $175,000 for a family of four. All applicants must meet the program’s eligibility requirements, such as be older than 18 and have a clean criminal background, in order to become Dominica passport holders.
The best Caribbean citizenship by investment program for you will depend on your individual circumstances and needs. To help you choose, here is our list of comparison articles:
- Caribbean Citizenship by Investment Comparison
- St Kitts vs Dominica Citizenship
- St Lucia vs Dominica Citizenship
- Antigua vs St Kitts Citizenship
- Grenada vs St Kitts Citizenship
- Grenada vs St Lucia Citizenship
- St Kitts vs St Lucia Citizenship
- Antigua vs Grenada Citizenship
- Antigua vs St Lucia Citizenship
- Antigua vs Dominica Citizenship
