Grenada vs St Lucia Citizenship by Investment Program

grenada-vs-st-lucia-citizenship-by-investment
Contents

Selecting a country for a second passport requires you to weigh numerous attractive options carefully. If you’ve narrowed your choices and are deciding on the best Caribbean passport for you, the small differences between them can play a pivotal role in the decision. In this article, we compare the Grenada vs St Lucia citizenship by investment programs to help you make an informed decision and get you started on your journey to dual citizenship.

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.


Get the cost calculation

Grenada vs St Lucia Citizenship: The Main Points

Grenada Citizenship by Investment

St Lucia Citizenship by Investment 

Application Time

Three to four months

Three to four months 

Global Passport Ranking

74th

75th 

Qualifying Investment

NTF minimum donation: $150,000 (single applicant) / $200,000 (family of four) OR Real estate investment: $220,000 minimum

NEF minimum donation: $100,000 (single applicant) / $150,000 (family of four)  
OR 
Real estate investment: $200,000 minimum  
OR 
Government bonds: $300,000 OR 
Enterprise investment: $3,500,000 minimum (individual applicant) or $1,000,000 (joint venture) 

Taxes

No income tax on worldwide income, no wealth tax, gift tax, inheritance tax or capital gains tax

No income tax on worldwide income, no wealth tax, gift tax, inheritance tax or capital gains tax 

Residency Requirements

No stay requirements

No stay requirements

Family Eligibility

Includes spouse, dependent children under 30, siblings over 18 (unmarried with no children), parents and grandparents

Includes spouse, children under 30, siblings under 18 (unmarried with no children), parents and grandparents over 55 

Application Requirements

No language test, or residency requirement

No language test, or residency requirement 

Who can apply for citizenship?

Before submitting an application for either of these Caribbean CBI 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

grenada citizenship by investment program

Nicknamed ‘The Spice Isle’ because of its reputation for being a major producer and exporter of spices like nutmeg, clove, and cinnamon, Grenada is a stunning island with an economy that, like its neighbors, relies heavily on tourism. Following in the footsteps of its northern Caribbean neighbors, Grenada introduced its own citizenship by investment (CBI) program in 2013, allowing foreign investors and their families the opportunity to become Caribbean citizens and acquire a Grenada passport. With a minimum qualifying investment of $150,000, applicants can have all the advantages that Grenada citizenship affords including visa-free travel to over 140 countries.

Investment options

The Grenada CBI program offers two routes by which applicants can obtain citizenship on the island:

  • A non-refundable minimum investment of $150,000 in the National Transformation Fund (NTF).
  • Investment in pre-approved real estate as follows:
  • Minimum $350,000 property purchase or
  • Minimum investment of $220,000 in shares of real estate projects for tourist accommodations

In addition to the minimum contribution, applicants will be required to pay additional fees such as due diligence fees, application fees, processing fees, government fees, and interview fees.

Grenada citizenship benefits

  1. Improved global mobility. As a Grenada passport holder, you can enjoy visa-free travel to over 140 countries, including the UK, the European Union, Singapore, Hong Kong, China, and Russia.
  2. Plan B. A second citizenship gives you flexibility and creates opportunities in a world where politics and the economy can be unpredictable. Having a Grenada passport is an excellent plan B.
  3. Family inclusion. The citizenship application is inclusive, covering your entire family – spouse, dependent children, parents, siblings, and even grandparents. Citizenship lasts a lifetime and is automatically passed on to your descendants. Additionally, you can opt to keep your existing nationality since Grenada recognizes dual nationality.
  4. No residency requirements. Not only can you complete the entire application process remotely, but there are also no residency requirements once you’ve acquired your Grenada passport. You are not required to be physically in Grenada at any point, and there are no language tests or academic requirements.
  5. Tax advantages. Grenada tax residents and citizens enjoy an attractive tax structure with no tax on foreign income, and no wealth or inheritance tax.
  6. US visa opportunity. Grenada is one of very few countries, and the only Caribbean country, whose citizens are eligible for the E-2 Visa that offers investors the opportunity to settle in the USA.

Grenada passport

The strength of the Grenada passport is significant. It ranks 74th in the Global Passport Index, which assesses factors such as enhanced mobility and quality of life, affording holders visa-free access to over 140 countries including the Schengen region of Europe, the UK, Singapore, Hong Kong, China, and Russia.

Are you interested in applying Caribbean citizenship by investment?

Contact us today to get the ball rolling. We will provide you with all the up-to-date information you need to complete your application and obtain second citizenship in a beautiful Caribbean nation.


Schedule a meeting

St Lucia Citizenship

apartment buildings town homes new listings sea views

St Lucia is one of several volcanic islands that make up the Caribbean chain. It was nicknamed the Helen of the West Indies as it was much fought over by the French and British during the 17th and 18th centuries, like its namesake Helen of Troy from Greek mythology. As a result, it changed hands several times and this is reflected in the languages spoken on the island – English and French creole or patois.

St Lucia’s citizenship by investment program is the newest in the region. It was launched in 2015, allowing foreign investors and their families the benefits of citizenship with one of the cheapest minimum investments for a second passport starting from $100,000.

Investment options

The St Lucia CBI program offers four investment options:

  • A non-refundable minimum contribution to the National Economic Fund (NEF) of $100,000 for a single applicant
  • A minimum real estate investment of $200,000 in government-approved real estate, usually tourist resorts or villas
  • A minimum $3,500,000 investment in specified types of local business enterprise as a single investor or a minimum of $1,000,000 as part of a joint venture worth at least $6,000,000.
  • A purchase of $300,000 in non-interest-bearing National Action Government Bonds (NAB).

St Lucia citizenship benefits

  1. Plan B. A St Lucia passport is an excellent plan B option in a world where economies and politics can be unpredictable. A second citizenship gives you flexibility and creates new opportunities.
  2. Enhanced global mobility. As a St Lucia passport holder, you can enjoy visa-free travel to over 140 countries, including the UK, the European Union, Singapore, and Hong Kong.
  3. No residency requirements. You do not need to visit St Lucia to complete the CBI application. It can be done remotely, and there are no residency requirements once you’ve acquired your St Lucia passport. You are not required to be physically in St Lucia at any point.
  4. Family inclusion. The family benefits of obtaining citizenship in St Lucia vs Grenada include a more affordable overall investment, with an investment of $150,000 required for a family of four in St Lucia vs $200,000 in Grenada. The citizenship application includes your entire family – spouse, dependent children, parents, siblings, and grandparents. Lifelong citizenship is automatically passed on to the next generation, and St Lucia recognizes dual citizenship.
  5. Tax advantages. St Lucia has a favorable tax regime with no tax on foreign income, and no wealth or inheritance tax.
  6. Affordability. The Cost comparison of St Lucia and Grenada citizenship by investment has determined that St Lucia’s CBI program is more affordable. St Lucia’s cheapest investment option is $100,000 vs Grenada’s $150,000 investment requirements.

St Lucia passport

The strength of the St Lucia passport is similar to Grenada’s as it’s ranked 75th on the Global Passport Index. Holders of a St Lucia passport can travel visa free to the Schengen countries of the European Union, the United Kingdom, Hong Kong, and Singapore.

Get in touch with a Citizenship by Investment Specialist

Our team of industry-leading experts will help you with everything from filing your immigration application to providing professional legal and tax advice. We are wholly committed to your success.


Schedule a meeting

Joe-Rice-Global-Citizen-Solutions-3

Which program is right for you?

When we compare the two, both Grenada and St Lucia’s CBI programs have similar benefits which can make the selection process challenging. Here we take a closer look at the subtle differences to determine which program may have an edge over the other.

Tax benefits

  • Personal income tax:

    Both countries have favorable tax regimes with tax allowance exemptions. However, whereas in St Lucia no tax is paid on incomes less than EC$18,400, in Grenada that figure is almost double at EC$36,000. In other words, Grenada residents only pay tax on any income exceeding EC$36,000 while St Lucians are taxed on much smaller incomes.

  • Value Added Tax (VAT): Both countries charge VAT on goods and services. However, in Grenada the rate is 15 percent while in St Lucia it is 12.5 percent. In addition, companies in St Lucia only pay VAT if they have annual sales exceeding EC$400,000. Those falling below this threshold are not required to register for VAT.

    St Lucian residents therefore pay less VAT than their Grenada counterparts.

  • Corporate tax: Tax resident companies in St Lucia pay 30 percent corporate tax. In Grenada, the rate is less at 28 percent.

Visa-free countries

Citizens of Grenada and St Lucia can travel visa free to over 140 countries. However, the list of countries that can be accessed by the Grenada passport includes Russia and China. St Lucian citizens are not afforded visa free entry to Russia. The benefits of Grenada citizenship over St Lucia for investors is the Grenadian passport has a higher passport ranking than St Lucia.

Investment options

  • Options: Investors are spoiled for choice for real estate investment opportunities for citizenship in Grenada vs St Lucia. St Lucia citizenship by investment applicants have diverse investment options covering real estate, the National Economic Fund, business enterprise, or government bonds. Grenada applicants have only two options – the National Transformation Fund, or a real estate investment.
  • Qualifying investment: St Lucia’s $100,000 minimum qualifying investment by a single applicant to the National Economic Fund is the most affordable investment option offered by a Caribbean island granting a passport by citizenship. In contrast, Grenada’s minimum qualifying investment for a single applicant is $150,000.

Processing time

The timeline for obtaining citizenship in Grenada vs St Lucia varies, with little variation in citizenship processing times between the two programs. Grenada’s citizenship program takes three to six months to process, and St Lucia’s citizenship program has a similar processing time.

Dual citizenship

Both St Lucia and Grenada allow applicants and passport holders to maintain their original citizenship and enjoy dual nationality. Both have no residency requirement and allow for remote applications.

Keep reading

You may be interested in our other Caribbean citizenship articles:

Why work with Global Citizen Solutions?

Dominica telephone immigration department
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 St Lucia Citizenship

Can Grenada citizens work in the USA?

Grenada citizens can work in the US if they acquire the US E-2 investor visa. Grenada is one of very few countries whose citizens are eligible to apply. Consequently, obtaining Grenada citizenship creates an avenue for eventually being able to conduct business in the United States.

Can I acquire St Lucia citizenship?

Yes. St Lucia offers one of the most accessible and affordable citizenship by investment programs available. In exchange for a minimum qualifying investment of $100,000 you can obtain a St Lucia passport, making it cheaper to obtain than other countries’. You also need to meet 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

Can I acquire Grenada citizenship?

Yes. Via the Grenada Citizenship by Investment Program, you can obtain citizenship with a minimum qualifying investment of $150,000 for a single applicant plus application fees. You also need to meet 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

St Lucia or Grenada citizenship: Which one to pick?

Grenada and St Lucia are both great passport options. How to choose between Grenada and St Lucia for second citizenship depends on your circumstances as well as your individual, family, and business goals. What you want to achieve by holding a second passport will determine which program is right for you. A Grenada passport will give you access to US business opportunities while a St Lucia passport will give you more investment options on the island.

Scroll to Top

Get in touch with a Caribbean Citizenship by Investment specialist​