Getting citizenship by investment in Grenada is a relatively straightforward process. However, you should know that there are specific requirements that you need to meet to apply. There are also tax requirements that you need to comply with, as well as processing time.
Investing in Grenada’s citizenship by investment program is a great way to get a second passport and live in the country for as long as possible. The country has a stable government, and the citizenship program offers various investment benefits.
If you are looking for a citizenship-by-investment program that offers a fast and easy application process, consider Grenada. The country has a stable government and a system of checks and balances to keep one branch from taking too much power.
You will need to pay government processing and due diligence fees during the application process. These fees are reasonably priced for families. The government also offers a donation option. This allows you to contribute to the National Transformation Fund. You will also need to provide proof of your permanent residence.
Grenada’s Citizenship by Investment Committee (CBI Committee) reviews and assesses your application. The process can take three to four months. You can contact a Grenada Authorised International Marketing Agent to assist you.
The principal applicant can include their spouse and dependent children. The grandparents of the main applicant can also qualify for citizenship. The grandparents must live with the principal applicant and prove they depend financially on them.
Investing in Grenada’s Citizenship by Investment program provides investors with a second passport. The program was introduced in 2013 to support the country’s economic growth. The scheme is fast and easy. It allows applicants to enjoy a variety of investment benefits.
The first is a donation of funds to the National Transformation Fund. The second is the purchase of pre-approved real estate property. Each option has its requirements and costs.
The first option requires donating at least US$200,000 to the National Transformation Fund. If you are donating to the fund as a family, you must contribute at least US$25,000 per dependent. If you donate to the fund, you must contribute at least US$150,000.
The second option requires a minimum investment of US$220,000 in a government-approved real estate project. The investment must be held for at least five years. You can sell the property in five years if you donate to the fund.
Investors must meet other requirements to obtain a second passport. For example, they must be in good health and have a clean criminal record. They must also be able to produce proof of a legal source of income.
The Citizenship by Investment Committee evaluates applications. They perform due diligence and reject false statements. They also conduct a variety of tests and investigations.
Visa-free access to China
Investing in Grenada through its citizenship by investment program gives you visa-free access to China, Russia, Europe, and more. In addition, it is the only Caribbean citizenship by investment jurisdiction with an E-2 visa treaty with the United States.
Aside from the visa-free regime, Grenadian citizens also enjoy visa-on-arrival to the Schengen region. In addition, they can visit the key business hubs of Hong Kong and Singapore without a visa.
Grenada has an economy that is stable, secure, and growing. It is also one of the world’s safest nations. Its history is rich, and its ties with the United States are substantial.
The Grenada Citizenship by Investment Program is also one of the most cost-effective ways to achieve citizenship. You can get your citizenship in as little as 60 days. In addition, this program offers a wide variety of investment benefits, including no taxation on worldwide income, visa-free travel to more than 140 countries, and a solid passport.
The program has strict rules and requirements. Investors must meet eligibility criteria and make a significant investment. The CBIC will review your application form and documents and issue you a letter of approval containing information about your investment in Grenada.
Aside from the investment, you must also prove that you meet the country’s citizenship requirements. The citizenship requirements include not being considered a potential national security risk, not being subject to the criminal investigation, and not being denied visas to certain countries.
Taxes in Grenada
Investing in Grenada’s citizenship by investment program can help you secure Grenadian citizenship. Investors can choose between two investment options. One option involves investing in a real estate project; the other involves donating. A single investor will need to donate $158,000, while a family of four will need to invest $214,000 to be granted citizenship.
Grenada’s Citizenship by Investment Program is a fully digital, five-step process. It requires applicants to submit a birth certificate, education certificate, police clearance certificate, and proof of source of funds. Citizenship also reviews the application by the Investment Committee (CBIC), a group of local agents. It’s important to note that a false statement will automatically disqualify your application.
The CBIC conducts a strict due diligence process, ensuring that applicants don’t make false statements. A due diligence fee of $5,000 per person applies. The first XCD 36,000 is exempt from the annual stamp tax.
After completing the due diligence process, applicants can apply for citizenship. They must provide proof of investment. This can take four months.
The citizenship by investment program also offers an option to purchase a home in Grenada. However, applicants must hold their property for a minimum of five years. In addition, the investment must be in a pre-approved real estate project.