If you are considering acquiring Caribbean citizenship as a second passport for you and your family, this Grenada vs St Lucia citizenship guide compares the differences (and similarities) between the Citizenship by Investment (CBI) programs of these two Caribbean countries. Whether your goal is to increase global mobility, make the best of the Caribbean’s tax-friendly policies, or diversify your assets, both the Grenada and St Lucia passport can provide these advantages and more. So, keep reading for insights on:
Benefits of Grenada and St Lucia's Citizenship by Investment Programs
- Quick application process: Investors can acquire a Caribbean passport in as little as six months
- No residency requirements: Neither program requires applicants to reside in the country during the application process or after citizenship has been granted to maintain citizenship.
- Family inclusion: Applicants can include family members in their application, including a spouse, children, parents, grandparents, and siblings.
- Tax-friendly policies: Grenada and Saint Lucia do not impose tax on globalincome or wealth, inheritance, or capital gains tax.
- Visa free travel: Caribbean passport holders have access to over 140 visa free countries:
- Secure Plan B: Grenada and St Lucia are politically stable countries, providing security for investors and their families.
Grenada vs St Lucia Investment Programs Comparison
Program characteristics | Grenada Citizenship by Investment | St Lucia Citizenship by Investment |
Application time | 6 months | 10 to 12 months |
Passport Global ranking | 71st. Visa free access to EU Schengen countries, the UK, Hong Kong, Singapore, Russia, and China, Saudi Arabia. Possibility of applying for US E-2 Visa | 70th. Visa free entry to EU Schengen countries, the UK, Hong Kong, Singapore, and Taiwan |
Visa free countries | 148 | 148 |
Qualifying investment | • NTF minimum donation: $235,000 (single applicant or family of four) • Real Estate investment: $270,000 minimum Investment routes: National Transformation Fund, real estate | • NEF minimum donation: $240,000 (single applicant or family of four) • Real Estate investment: $300,000 minimum Investment routes: National Economic Fund, real estate, enterprise, government bonds |
Taxes | No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax | No income tax on worldwide income, wealth tax, gift tax, inheritance tax, or capital gains tax |
Residence rule | No stay requirements | No stay requirements |
Family eligibility | Inclusion of spouse, dependent children under 30, siblings over 18 (unmarried with no children), and parents and grandparents | Inclusion of spouse, children under 30, siblings under 18 (unmarried with no children), and parents and grandparents over 55 |
Application requirements | No language or residency requirement | No language or residency requirement |
Grenada Citizenship by Investment
Grenada — also called ‘The Spice of the Caribbean’ — is praised for its beautiful nature, tranquility, and relaxed lifestyle. Since 2013, the government has its own citizenship program. The Grenada citizenship by investment program allows foreign investors and their families to become Caribbean citizens by being granted citizenship and a Grenada passport in exchange for a minimum contribution of $235,000 in the country’s economy.
With a Grenada passport, investors are able to travel visa-free to over 140 countries, such as the EU, the UK, Hong Kong, Singapore, China, and Russia. In addition, the passport is also the only Caribbean passport offering the opportunity to apply for the E-2 Visa in the US – which allows you to enter and work in the US when investing a substantial amount of capital in a US business.
The options to invest in Grenada include:
- Non-refundable contribution to the National Transformation Fund of at least $235,000 for a single applicant or a family of up to four.
- Government-approved real estate investment of at least $270,000 in shares of real estate projects or $350,000 as a sole owner of a property
Take a look at our Grenada Citizenship by Investment Ultimate Guide by Experts
St Lucia Citizenship by Investment
Famous for its impressive Piton mountains, lush rainforest, and first-class white sandy beaches, this mesmerizing island has always been a tourists’ favorite. To attract foreigner nationals to invest in St Lucia, the government has built many new infrastructures, such as an international airport, hospitals, top accommodations, and marinas, which eventually led to the development of a flourishing real estate market. Due to its unique combination of luxury and tranquility, the island has attracted many retirees and expat families seeking to relocate to its shores.
Since 2015, the government has operated the St Lucia citizenship by investment program, which grants citizenship to investors and their families in exchange for a qualifying investment of at least $240,000. In just 10 to 12 months, you can obtain a St Lucia passport, which allows visa-free access to more than 140 countries, including Europe’s Schengen zone, the United Kingdom, Hong Kong, Singapore, and more.
The program is a great opportunity for those who are looking for diversification of assets, with four different investment routes available:
- Donation to the National Economic Fund of at least $240,000 for a single applicant) a main applicant plus three family members.
- Investment in pre-approved real estate projects worth a minimum of $300,000
- Investment in non-interest bearing government bonds of at least $300,000, held for five years
- Investment in an approved enterprise project of at least $3.5 million for a sole investor or $250,000 in a joint venture worth at least $6 million in total.
Take a look at our St Lucia Citizenship by Investment Ultimate Guide by Experts
Which program to pick?
To answer the question “Is Grenada or St Lucia better?” it’s important to look at some of the pros and cons of obtaining citizenship in Grenada vs St Lucia.
Citizenship by investment cost
When it comes to the cost of citizenship in Grenada vs St Lucia, the citizenship by investment programs differ in terms of financial contribution and options. St Lucia has a $240,000 minimum qualifying investment for a single applicant or a family of up to four to the National Economic Fund and a minimum St Lucia real estate investment of $300,000.
In contrast, Grenada’s minimum qualifying investment for a single applicant or a family of four is cheaper, starting at $235,000 for its National Transformation Fund donation option. $270,000 is the minimum required for the real estate option, making it the cheaper program for obtaining a Caribbean passport. Both programs include additional fees, such as government fees, processing fees, due diligence fees, passport fees that vary based on investment options and the number of dependents.
Passport strength
Considering the St Lucia vs Grenada passport power ranking and that both Caribbean passport programs allow for great global mobility, the possibility of tax exemptions, inclusion of family members, flexible requirements, and no need for residency, the choice will depend on specific factors. The St Lucia passport is stronger and ranks higher than the Grenada passport at 71st on the Global Passport Index vs 70th for the Grenadian passport. However, it comes at a higher cost.
Passport holders from both countries enjoy visa free access to 148 countries across the globe, including countries in the Schengen zone, the UK, Hong Kong, and Singapore. This includes visa on arrival, electronic visa, and Electronic Travel Authorization (eTA). Grenada passport holders have the added advantage of travel without a visa to China and Russia as well as apply for the US E-2 Visa Program, whereas St Lucia passport holders have visa free travel to Taiwan.
Passport validity
Both Grenada and St Lucia’s passports are valid for five years for citizens under 16 and ten years for citizens 16 and over, after which they must be renewed.
Investment options
For a comparison of the investment options for the St Lucia and Grenada citizenship programs, Grenada offers two investment options; a national development fund and a real estate investment, where as St Lucia offers four; a government fund, real estate, an enterprise investment, and government bonds.
Eligible dependents
Both Caribbean citizenship by investment programs allow a spouse, children, siblings, parents, and grandparents to obtain Caribbean citizenship. However, their age limits do differ. St Lucia allows the inclusion of siblings under 18 and parents and grandparents over 55. Grenada allows the inclusion of siblings over 18 and places no age limit for parents and grandparents. Both countries allow the inclusion of children under 30. St Lucia and Grenada citizenship benefits for families include the right to pass citizenship down to future generations.
Citizenship timeline
The St Lucia vs Grenada citizenship processing time presents a slight difference, with it taking 6 months in Grenada vs 10 to 12 months in St Lucia.
Taxes
For the tax benefits of Grenada citizenship vs St Lucia citizenship, the tax environment in both Caribbean nations is advantageous and sought-after by many global investors and families looking to optimize their taxes and plan for their futures. Each country offers favorable tax policies to their citizens, including no no worldwide income tax and no capital gains, wealth, or inheritance taxes.
Key advantages
So, which program should you pick? That depends on your personal circumstances and requirements. To help you, we’ve summarized some key aspects of each program below.
St Lucia is better in terms of the following:
- More diverse investment options
- More powerful passport
- Refundable government bonds option
- Cheaper for family applications
Grenada is better in terms of the following:
- Chance to apply for an E-2 US Visa
- Visa free access to Russia and China
- Cheaper donation option
- Faster citizenship timeline
If you are in search of more in-depth knowledge or for a citizenship plan that is tailor-made for you and your family, don’t hesitate to get in contact with us at Global Citizenship Solutions. We have a team of experts on Caribbean Citizenship by Investment programs and also worldwide.
Why use Global Citizen Solutions?
Global Citizen Solutions is a multidisciplinary firm offering bespoke residence and citizenship solutions in Europe and the Caribbean. In a world where the economy and politics are unpredictable, having a second citizenship opens up opportunities and creates flexibility for you and your family.
So, why work with Global Citizen Solutions to obtain Caribbean citizenship?
- Global approach by local experts: We are corporate members of the Investment Migration Council, with local expertise in all five Caribbean CBI 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.
Frequently Asked Questions and St Lucia and Grenada Citizenship
How strong is the Grenada passport?
The Grenada passport ranks 71st position in the Global Passport Index, giving visa free and visa on arrival access to 148 Grenada passport visa free countries, including the EU Schengen Area, the UK, Singapore, Hong Kong, Russia, and China. Grenada citizens are also eligible to apply for the US E-2 Visa. Amongst the five Caribbean citizenship programs, Grenada is the only one that allows this.
How strong is the St Lucia passport?
The Saint Lucia passport ranks 70th in the Global Passport Index. It allows Caribbean citizens access to 148 St Lucia passport visa free countries, including the EU Schengen Area, the UK, Singapore, and Hong Kong, and Taiwan.
Which Caribbean island is best for citizenship?
Five Caribbean countries offer Citizenship by investment programs granting Caribbean passports: Antigua and Barbuda, Dominica, Grenada, St Lucia, and St Kitts and Nevis. They all have excellent advantages, such as enhanced mobility and flexible requirements, as well as accepting dual citizenship. The best Caribbean citizenship by investment program depends on the specific investor needs, such as the inclusion of family members, how quickly you can acquire citizenship, and the investment options.
Can Grenada citizens work in USA?
Grenada citizens are able to work in the US if they have the US E-2 Investor Visa. Only citizens of countries who have a treaty with the United States are eligible to apply for the E-2 Visa, and Grenada is one of these countries.
Can I acquire St Lucia citizenship?
Thanks to the St Lucia’s citizenship by investment program, you can acquire second citizenship in exchange for a contribution to the development of of the country. The minimum investment is $240,000 and citizenship can be extended to your family. All applications are processed by the St Lucia Citizenship by Investment Unit.
Can I acquire Grenada citizenship?
Grenada has a citizenship by investment program allowing foreign nationals to obtain citizenship if they make an investment in the country, starting from $235,000. All applications are processed by Investment Migration Agency Grenada, formally the Grenada Citizenship by Investment Unit.
Which passport is better, St Lucia and Grenada?
While St Lucia’s passport ranks one place higher on the Global Passport Index, many may consider Grenada’s passport better as it offers visa free travel to China, Russia, and Saudi Arabia, which St Lucia doesn’t. Grenada is also the only Caribbean country among Caribbean citizenship programs that offers US E-2 Visa eligibility.
What are the disadvantages of Grenada citizenship?
While Grenada citizenship offers a lot in terms of travel privileges, the options to invest in the program are limited, with just a state fund donation and real estate purchase that count as qualifying investments.
What are the disadvantages of St Lucia citizenship?
St Lucia’s citizenship program offers many advantages, but a downside is that it’s the second most expensive for single applicants at $240,000, and its passport doesn’t provide visa free travel to Russia or China.
