Grenada Citizenship by Investment Statistics for January–September 2024: Record Passport Issuance, Vietnam Among the Top 8 Applicant Countries
November 28, 2024 · Grenada · 7 min read
Grenada citizenship by investment statistics for the first 9 months of 2024 show strong results, reinforcing the program’s appeal among international investors.
In the first 9 months of 2024, the Grenada citizenship program delivered strong results, reinforcing its appeal among international investors.
US$325 million invested in the economy and nearly 5,000 passports issued
In the first 9 months of 2024, the Grenada citizenship by investment program recorded strong growth, with passport issuance reaching a record high. A total of 4,861 passports were issued to investors and their family members, exceeding the 4,794 passports issued in the whole of 2023 — a clear sign of growing interest and participation in the program.
Passports issued through Grenada’s citizenship by investment program by year (Source: IMA Grenada). *2017 and 2024 figures cover the first 3 quarters only.
According to Grenada’s Investment Migration Agency (IMA), which administers the citizenship program, investors contributed more than EC$879 million (approximately US$325 million) to Grenada’s economy between January and September 2024, more than 1.5 times the figure for the same period a year earlier.
Application numbers also rose significantly. In the third quarter of 2024, the program received 178 applications — 20% more than in the entire first 6 months of the year. In the same quarter, 521 applications were approved and only 44 were denied.
By investment route, real estate remained the most popular option, with 133 applications filed under this route. Only about 25% of investors chose to contribute to the National Transformation Fund (NTF).
Vietnam among the top 8 countries by number of Grenada citizenship by investment applications
A notable highlight was the strong participation of investors from Vietnam, which ranked among the top 8 countries by number of Grenada citizenship by investment applications in the first 9 months of 2024. This reflects investors’ growing interest in Grenada citizenship and the benefits of its passport, particularly visa-free or visa-on-arrival access to more than 140 destinations worldwide.
The trend also reflects a shift in how investors approach investment migration: they are looking for programs that offer not only a second citizenship but also global opportunities for travel, business, and relocation.
Grenada citizenship: one of today’s leading citizenship by investment programs
Grenada’s program offers direct citizenship at a reasonable investment level, along with several advantages: processing in around 10–12 months; no education, work experience, or language requirements for the main applicant; and greater global mobility. As a result, it continues to attract a growing number of investors worldwide.
There are currently 2 ways to participate in the program:
- A non-refundable National Transformation Fund (NTF) contribution starting from US$235,000, or
- A minimum investment of US$270,000 in an approved resort real estate project, held for 5 years.
In return, you and your family receive a Grenada passport with a range of significant benefits:
- Grenada citizenship is permanent and allows dual citizenship.
- The Grenada passport offers visa-free or visa-on-arrival access to 147 destinations, including the United Kingdom and the 29 Schengen Area countries (Germany, Italy, France, Finland, and others). Holders can stay in the Schengen Area for up to 90 days in any 180-day period and in the UK for up to 180 days per year.
- With Grenada citizenship, investors and their families may become eligible to apply for a U.S. E-2 visa after being domiciled in Grenada for at least 3 consecutive years.
- Access to education and healthcare in Grenada.
- Tax planning advantages: citizens who are not tax resident in Grenada are not taxed there on personal or business income earned worldwide. Grenada also does not levy inheritance or gift taxes.
IMM Group currently offers the 5-star InterContinental Grenada resort, one of the projects approved by the Government of Grenada for its citizenship by investment program, with a qualifying investment of US$270,000.
View the full project details here.
IMM Group is also the first and only Vietnam-based company licensed by the Government of Grenada as an International Marketing Agent for its citizenship by investment program.
If you are interested in the Grenada citizenship by investment program, contact IMM Group or leave your details below. Our experienced advisors will provide detailed guidance and help assess the likelihood of success for your application. We are committed to keeping your personal data confidential and will use the information you provide solely to advise on your family’s application.
IMM Group
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- Caribbean citizenship
- Grenada citizenship by investment
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