Citizenship by investment has its own vocabulary, borrowed from immigration law, banking compliance and property conveyancing. Agents use it fluently and forms assume you understand it. Misreading a single term, such as the difference between source of funds and source of wealth, or between approval in principle and a grant of citizenship, can lead to a weak file or a costly misunderstanding about where you stand.
This glossary explains the terms most often met in Grenada's programme, grouped by stage so that it reads as a walk through the process rather than an alphabetical list. Definitions are practical rather than statutory; where the exact legal meaning matters, ask your licensed agent or a Grenadian attorney, and confirm current usage with the Investment Migration Agency.
People and institutions
Main applicant. The person who makes the qualifying investment and whose application carries the family. Must be an adult. Most obligations, including the investment and holding period, attach to this person.
Dependant. A family member included on the main applicant's file who meets the programme's definition, for example a spouse, a qualifying child, a dependent parent or grandparent, or a qualifying sibling. Each dependant receives citizenship in their own right.
Investment Migration Agency (IMA). The government body that administers the programme and decides applications. It succeeded the Citizenship by Investment Unit, the name still used in many guides.
Authorised local agent. A Grenadian firm or individual licensed by the IMA to prepare and lodge applications. The only channel through which a file can be submitted.
International marketing agent. An adviser abroad who promotes the programme and manages clients, working through a local agent. Not entitled to lodge applications.
Due diligence provider. An independent investigative firm engaged by the agency to verify applicants' backgrounds. Reports to the agency, not to the applicant.
ECCIRA. The Eastern Caribbean Citizenship by Investment Regulatory Authority, the regional regulator agreed by the five Caribbean CBI states in 2025.
Investment terms
National Transformation Fund (NTF). The state fund that receives non-refundable contributions under the donation route. The contribution is paid only after approval in principle.
Approved project. A real estate development that the government has authorised for the programme, usually a hotel or resort. Only units or interests in an approved project qualify.
Shared ownership and sole ownership. The two forms of real estate investment, with different minimum amounts. Shared means co-investing with other applicants in a qualifying unit or interest; sole means owning it outright.
Government fee or contribution. A non-refundable payment to the government that accompanies the real estate route, separate from the purchase price.
Holding period. The minimum time a real estate investment must be retained, generally five years. Disposing of it earlier can put citizenship at risk.
Escrow. An arrangement under which purchase money is held by a neutral party until conditions are met, such as approval of the application. Protects the buyer if the file is refused.
Alien Landholding Licence. The licence a non-citizen normally needs to buy land in Grenada. Units in approved CBI projects are exempt, and citizens never need one.
Compliance and due diligence terms
Source of funds. Where the specific money used for the investment and fees came from, and how it reached the account it is paid from: the sale of a property, a dividend, a loan, savings.
Source of wealth. How the applicant built their overall wealth over a lifetime: career, business ownership, inheritance, investments. Due diligence tests both, and they must fit together.
Politically exposed person (PEP). Someone who holds or has held a prominent public role, or a close family member or associate of such a person. Not disqualifying, but it triggers enhanced checks.
Sanctions screening. Checking applicants against sanctions lists maintained by the UN and by governments such as the US, UK and EU. A sanctions match normally ends an application.
Police certificate. An official record of criminal history, required from the applicant's country of citizenship and from countries of residence for set periods. Rules on which countries are needed should be checked carefully.
Apostille. A certificate that authenticates a public paper for use abroad under the Hague Convention. Countries outside the convention use consular legalisation instead.
Decision and post-approval terms
Approval in principle. The agency's notice that the application has passed assessment, subject to the qualifying investment being made within a deadline. Not yet citizenship.
Refusal and reconsideration. A refused applicant may in some cases ask for the decision to be reconsidered or apply again after a period, depending on the rules. Fees already spent on due diligence are normally not refunded.
Certificate of registration. The formal record that a person has been registered as a citizen of Grenada. The key proof of citizenship, needed for every future passport renewal.
Oath of allegiance. The oath taken to complete registration as a citizen, sworn before an authorised person, which can be arranged abroad in some cases.
Revocation. The legal process by which citizenship can be withdrawn, chiefly where it was obtained by fraud, false representation or concealment of material facts.
Presence requirement. A proposed duty, in the 2026 amendment bill, for investor citizens to spend set days in Grenada after citizenship is granted. Deferred at the time of writing.
Terms that are commonly confused
Approval versus citizenship. Approval in principle is a conditional decision. You are not a citizen until the investment is confirmed, the certificate of registration is issued and the oath is taken. Do not book travel on a Grenadian passport you do not yet hold.
Source of funds versus source of wealth. A bank statement shows funds; it says nothing about how they were earned. A strong file explains both, with supporting papers such as company accounts, sale contracts and tax returns.
Donation versus investment. Marketers sometimes call the NTF contribution an investment. It is a non-refundable payment with no return. Only the real estate route leaves you holding an asset.
Citizenship versus residence. Investor citizenship confers citizenship directly. It is not a residence permit leading to citizenship later, and it carries no requirement to have lived in Grenada first.
Visa-free versus right to live. Visa-free travel allows short stays only; it is not a right to live or work in another country.
Agent versus attorney. An authorised local agent is licensed to lodge CBI files; many are law firms, but not all. If you buy into a real estate project, you may still want an independent Grenadian attorney to review the purchase on your behalf, separate from the agent who handles the citizenship file.
Holding period versus lock-in. The holding period is a programme condition. A developer's contract may add its own restrictions on resale, rental pool membership or transfer that last longer. Read both.
Using the glossary with your agent
When an agent or adviser uses a term you do not recognise, ask for it in writing with a short explanation of what it means for your file. Good agents are happy to do this, and the exercise often surfaces assumptions on both sides: who counts as a dependant, which countries need police certificates, when exactly money must move.
Pay particular attention to terms that describe money and timing. "Refundable", "escrow", "holding period" and "approval" should each be defined in your engagement letter or purchase agreement, with dates attached. Vague language around these words is where most disputes start.
Finally, remember that usage varies between programmes. A term that means one thing in another Caribbean programme may mean something slightly different in Grenada, and regional harmonisation through ECCIRA may change definitions again. Treat any glossary, including this one, as a guide to the questions to ask rather than a final answer.
Frequently asked questions
What is the difference between source of funds and source of wealth?
Source of funds is where the specific money for the investment and fees came from. Source of wealth is how you built your overall wealth over time. Due diligence examines both and expects them to tell a consistent story backed by records.
Is approval in principle the same as getting citizenship?
No. Approval in principle means the file has passed assessment, subject to completing the investment within a deadline. Citizenship follows only once the investment is confirmed, the certificate of registration is issued and the oath of allegiance is taken.
What does being a politically exposed person mean for an application?
It means you, or a close relative or associate, hold or held a prominent public role. It does not automatically disqualify you, but it leads to enhanced checks on the source of your wealth and your public record.
Why does the certificate of registration matter so much?
It is the formal proof that you are a Grenadian citizen. Passport renewals and many official dealings rely on it, so keep the original safe and store certified copies separately.
Is the NTF contribution ever refunded?
Generally no. It is a non-refundable contribution paid after approval in principle. If an application is refused before that point, the contribution has not yet been paid, though due diligence and application fees are normally kept.
