The world is becoming a really unstable place, and recent events prove this very convincingly. Having a second passport is no longer a whim but a necessity, so more and more people are becoming interested in citizenship-by-investment programs. There are not so many of them, and some require quite a lot of time, effort, and investment. However, the citizenship of Grenada is affordable, and it is granted within a reasonable timeframe.
Any serious step begins with collecting information – however, not all websites on the Internet are sources of reliable details about relocation programs. We would like to invite you to our portal for detailed information on citizenship-by-investment programs, as well as international business, banking, investment, taxation, and more. All of our articles are written by specialists who help people on a daily basis with business establishment, account opening, immigration documents submission, relocation, and so on.
Most people need help in this matter, so you can book a free initial session with our expert to find out more details, ask any questions, share your doubts, and find the best solution. We charge nothing if you struggle with the choice and cannot opt for a country to relocate to: we will analyze your details and come up with the best solutions available on the market. And if you decide to delegate all administrative work related to second citizenship acquisition to us, we will be happy to help you at an affordable fee. Book a session today by clicking on the link!
Grenada Economic Citizenship Program: Advantages
Why Grenada? Here are some reasons why this jurisdiction is highly recommendable:
- You are not required to live in Grenada before or after receiving the country’s passport.
- If you are interested in the speed, the time of processing documents in Grenada is really second to none.
- The nationality of the main applicant and dependents does not matter.
- Grenada has a stable economic and political system, and you will be able to live and work in a safe environment even if any major turmoil happens in the world.
- Grenada is a part of the Caribbean Community (or CARICOM for short), and you get a CARICOM passport. It gives you the right to freely work, live, or study in other Caribbean countries as well.
- If you are interested in visa-free access to many countries, you will be able to freely enter the EU countries, China, and most South American states. On the whole, you will be allowed to enter 116 countries without a visa.
- A Grenadian passport will give you an opportunity to receive an E2 (investor’s) visa to the United States.
- Grenada offers a unique opportunity for the Caribbean citizenship-by-investment programs: the main applicant has the right to include his/her unmarried siblings without children over 18 in the application!
- Grenada is a low-tax jurisdiction, which is a special advantage: you will not have to pay capital gains, gift, or inheritance taxes, and the real estate tax ranges between 0% and 0.5% depending on how you use the property.
Sounds impressive? Please get in touch with our experts to discuss anything that remains unclear. We will help you find the country that satisfies all your needs if it exists on Earth!
Grenada Economic Citizenship: Investment Options
There are two investment options for those who wish to obtain a Grenadian passport:
- Contribute at least 150,000 US dollars to the National Transformation Fund of Grenada
- Buy a government-approved real property that costs at least 220,000 US dollars (you usually buy high-end hotels)
As the local authorities do not work directly with individuals, you will also have to use the services of an accredited immigration agent (and pay a relevant fee). We will help you find a reliable one who will submit the documents on your behalf and take all the important steps required to ensure you get your passport on time and without much hassle. And it is also thanks to the agent’s work online that you no longer have to fly to the island to apply in person!
Also, be prepared to pay due diligence and processing fees as the local authorities will have to make all relevant checks to comply with international requirements, on the one hand, and make sure you are a law-abiding citizen, on the other hand.
You will obtain your passport within 3 to 6 months if everything goes as planned. It means that all dependents you include in the application (spouse, children, parents, siblings, co-applicants, etc.) will get their passports, too.
This is the most important stage of the application processing that ensures transparency and consistency of the whole economic citizenship program. Be prepared for assessment and verification of your CV, financial data (the origin of funds and its legality will be checked among other things), and criminal history.
There are two stages:
- The initial job is done by the Grenada Citizenship by Investment Unit which makes preliminary background checks that cover the main applicant and all dependents. It applies to the Joint Regional Communication Center of Grenada which is a branch of the Caribbean Community Implementation Agency for Crime and Security to obtain the required information.
- If everything seems to be fine during the first stage, the Citizenship by Investment Unit will send your package of documents to one or several independent detective agencies that will make a comprehensive due diligence check. It will help to prove that the applicant is not a part of any corrupt practices or schemes related to money laundering or terrorism financing. As soon as the reports from the agencies are received by the Grenada Citizenship by Investment Unit, it makes a decision to approve or turn down the application.
You don’t make any investments until you have successfully passed the due diligence check.
The Grenada citizenship-by-investment program is extremely popular as it is very affordable and gives an opportunity to pay much less taxes than in most countries. As a result, it runs a risk of being closed down at any time as the countries are unwilling to lose their taxpayers (the US puts especially strong pressure). If you are interested, follow the above link to explore our portal or get in touch with our expert to start the process before it’s too late!