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 CBI programs price to increase
Antigua and Barbuda, Dominica, Grenada, and St. Kitts & Nevis will increase the minimum investment for their CBI programs to $200,000. St. Lucia is also expected to adopt this new threshold soon.
The minimum investment required for citizenship will rise by $100,000, effectively doubling the current amount. This price change is expected to take effect on June 30th, 2024.
These adjustments will reshape the landscape for future Caribbean CBI applicants. Due to the fast-approaching deadline, we strongly recommend those interested in Caribbean citizenship to secure their spot in the program before the price increases.
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 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) |
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
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 developments 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
- 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.
- 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.
- 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.
- 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.
- Tax advantages. Grenada tax residents and citizens enjoy an attractive tax structure with no tax on foreign income, and no wealth or inheritance tax.
- 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 Grenada passport is more powerful and ranks higher than the St Lucia’s at 74th place in the Global Passport Index, compared to the St Lucia passport ranking of 75th. However, the overall cost is higher. Nevertheless, it affords holders visa-free access to over 140 countries including the Schengen region of Europe, the UK, Singapore, Hong Kong, China, and Russia.
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St Lucia Citizenship
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 routes:
- 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
- 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.
- 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.
- 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.
- 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.
- Tax advantages. St Lucia has a favorable tax regime with no tax on foreign income, and no wealth or inheritance tax.
- 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.
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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
Grenada’s passport is more powerful than St Lucia’s, ranked 74th versus 75th, respectively, but it costs more and generally takes longer to acquire. The programs differ in terms of investment threshold and options. Grenada’s primary option is a $150,000 contribution to the state fund or $220,000 in approved real estate, whereas Dominica’s primary contribution option costs $100,000, and real estate starts at $200,000. The contribution in both countries is non-refundable.
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.
Passport validity
The St Lucia and Grenada citizenship program both offer Caribbean passports with five years validity.
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:
- Caribbean Citizenship by Investment Comparison
- St Kitts vs Dominica Citizenship
- St Lucia vs Dominica Citizenship
- Grenada vs Dominica Citizenship
- Grenada vs St Kitts Citizenship
- Antigua vs St Kitts Citizenship
- St Kitts vs St Lucia Citizenship
- Antigua vs Grenada Citizenship
- Antigua vs St Lucia Citizenship
- Antigua vs Dominica Citizenship
Why work with Global Citizen Solutions?
- 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
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.
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
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
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.
Grenada and St Lucia both prioritize safeguarding applicants’ personal information through stringent data protection measures to ensure the confidentiality of applicant details throughout the application process. Specific Caribbean countries offer citizenship by investment, with the requirement to submit applications through an authorized agent who must adhere to specific protocols and ensure the utmost discretion for global investors.
While the Caribbean countries of St Lucia and Grenada provide the opportunity to Obtain Caribbean citizenship by investment, they have key differences that may make one program more appealing. Some key differences include:
- A lower minimum investment requirement of $100,000 in St Lucia versus $150,000 in Grenada
- Four investment routes in St Lucia versus two in Grenada
- More visa free countries for Grenada passport holders, including visa free travel to China
- Eligibility for the US E-2 Visa for Grenada citizens
