Citizenship by Investment in a Fund or Real Estate
GRENADA CITIZENSHIP AND GRENADA PASSPORT
VIA INVESTMENT
The country is also known as Spice Island. There are very picturesque embankments, mountains and hills. These are just one of the many temptations to visit the main three beautiful islands. Diving, sailing, excellent restaurants, clean beaches and unforgettable celebrations all year round are some reasons why many wealthy investors prefer Grenada.
Advantages and peculiarities of the program for obtaining citizenship of Grenada:
Fast processing within 4 months;
Inclusion of dependent children under 29 years;
Inclusion of dependent parents above 55;
No physical residency requirements;
No requirements to travel to Grenada during the application process;
No interview, education or management experience required;
Visa-free travel to over 100 countries, including Europe’s Schengen zone;
E-2 treaty ‘Investor Visa’ signed between Grenada and the United States allows citizens of Grenada to operate a substantial business in the U.S. and reside therein;
No tax on worldwide income;
No need to pass a language exam;
Passport is issued within 4 months.
Options citizenship of Grenada:
Investment in real estate. The minimum deposit is 350 thousand dollars. For each kept man, add 25 thousand dollars;
Irrevocable contribution to the state development fund:
$150 thousand, the main applicant;
$200 thousand, the main applicant with two dependents.
Check for criminal past:
$5 thousand the main applicant and dependents who are 18 years old;
$2 thousand children 12 -17 years old.
STATE DUTY:
$3 thousand the main applicant and dependents who are 18 years old;
$2 thousand children under 18 years old.
Cost citizenship of Grenada:
Program maintenance, 25 000 dollars.
Citizenship of Grenada minuses and pluses:
The popularity of the migration program of Grenada is increasing: citizenship of this island nation is an attractive option for those who are interested in obtaining a second passport on favorable terms. The citizenship of Grenada provides exceptional opportunities for business development at the international level, optimization of the tax burden, visa-free travel, as well as for living the whole family in a comfortable and safe environment.
Let us take a closer look at what the pros and cons of obtaining Grenada citizenship are.
PLUSES:
The Grenada citizenship program allows you to become a passport holder of this Caribbean state at short terms and at relatively low cost. There are two main options for obtaining citizenship: investment in real estate or investments in the state fund NTF. Regardless of which option will be preferred, the passport of Grenada provides the following benefits to its owner;
Optimize tax burden. The tax policy of Grenada is focused on creating the most comfortable conditions for international business: tax minimization helped reduce the tax burden for passport holders of this state. The taxation system does not provide for the payment of capital gain taxes, as well as the tax on personal income, which were obtained from foreign sources. In addition, in Grenada, there are no taxes on donations and inheritance, and the tax rate on property ownership is 0-0.5%;
Visa-free travel to more than 130 countries. Passport holders of Grenada can freely visit a huge number of countries, including the UK, Schengen countries, Singapore and Hong Kong, which provides excellent opportunities for both business and leisure travel. In addition, Grenada was one of the first Caribbean states, which gave its citizens the opportunity to visit China without a visa;
Benefits in the countries of the Commonwealth of Nations. Grenada is a member of the Commonwealth of Nations, the membership of which allows citizens of the Caribbean state to enjoy various benefits in the UK (the Commonwealth is administered by the Queen of the Great Britain). Therefore, the passport holders of Grenada have the opportunity to receive benefits for study in British educational institutions. In addition, benefits are also available for movement to other countries of the Commonwealth (including Australia and Canada);
The possibility of obtaining a business visa in the form of E-2 in the United States. The cooperation of Grenada with the United States of America in the field of business migration opens up broad prospects for those who plan to open a business or a representative office of their company in the United States. It is an open secret that a direct appeal to the US Migration Service most often leads to failure. Passport holders of Grenada can obtain a visa in the form of E-2: its presence greatly simplifies business activity in the United States of America. The possibility of obtaining a business visa E-2 is one of the main advantages of acquiring citizenship of Grenada: this visa is not available for Russian citizens;
The absence of necessity to renounce the first citizenship. Obtaining a passport of Grenada does not imply the renunciation of the first citizenship: the country guarantees complete confidentiality;
The absence of difficulties in obtaining citizenship. The Grenada Migration Program provides a simple procedure for obtaining citizenship, which is another advantage of choosing this particular Caribbean state. The main requirement for applicants for the acquisition of citizenship is the absence of problems with the law, the appropriate age and the availability of the necessary amount for investment;
Getting a passport (you do not need to visit the country, as these documents are sent by courier service);
The absence of requirements for stay in the country. Citizens do not have compulsory periods of stay in the country: there are no sanctions if a new citizen does not want to move to Grenada or just visit the state.
MINUSES:
Along with the undoubted advantages of the Grenada migration program, some disadvantages of this option should be noted. So, the disadvantages of obtaining citizenship include:
the riskiness of long-term investments, since the economy of Grenada is unstable and dependent on external factors;
the remoteness of Grenada from Russia and European countries;
the presentation of requirements for the state of health of the main applicant and his family members.
Therefore, the listed advantages of the Grenada migration program are in many ways superior to some disadvantages of this option. Thus, the registration of citizenship of Grenada is an excellent opportunity to get a second passport on attractive terms.
The process of obtaining the citizenship of Grenada:
The process of obtaining citizenship of Grenada is carried out in two ways: through direct investment and thanks to a non-refundable contribution to the State Fund for National Transformation. Consider the second method in more detail. It is called the “CIP Program”, allowing, in the case of obtaining a Grenada passport, to visit 135 states without a visa.
In short: history and facts:
The government of Grenada has started to cooperate with investors since about 2013. It was then that the state fund was created that promotes the economic growth of the island through the development of the tourist sector, energy, and, of course, economic citizenship for foreigners. The fee for citizenship through the CIP program is set at 200 thousand US dollars for 1 applicant (or a family of up to 4 people). For any subsequent secondary applicant, additional payment of $25 thousand is required.
Staged process of registration:
Let’s consider the process of obtaining citizenship of Grenada.
First step. First, you need to find an authorized agency accredited by the government of Grenada to conduct such transactions. This agency, as a rule, is international, must operate in the country where the candidate lives. In Russia, our company LLC ADVISER is this authorized agency.
Second step. Work with the agent. This is necessary not only to fulfill the requirements of the government to obtain Grenada citizenship, but also for a number of nuances in the paperwork. The agent will help you correctly prepare a petition for citizenship, as well as familiarize you with the current tariffs and auxiliary fees. At the same time, a bank escrow account is opened to transfer funds.
The third step. Drawing up a citizenship application that enters the Grenada CBI (Committee for the Consideration of Applications for Investment Citizenship).
Fourth step. Payment of required fees. The receipts are attached to the copy of the petition:
For registration is charged at 1500 US dollars for each person in the application;
Data processing is paid separately. Amounts: 1,5 thousand dollars for adult applicants, 500 dollars for minors under 18 years of age;
Due Diligence (no criminal record) reliability check and determination of materially dependent family members (if served per family). There is a gradation in the tariffs, which depends on the age of the applicant. The primary applicant (as well as his spouse, family members over 18) pays 5,000 USD. Children under 12 years are exempt from duty, and children aged 12 to 17 years will be charged $2,000 each. Extract passports, $250 for each applicant submitted to the petition.
Fifth step. Waiting for a response. For certain procedures, the law gives specific deadlines. For example, to check the reliability of 2 months is enough. If the application is satisfied, the applicant is notified in writing, then proceed to the next stage.
The sixth step. Payment of the balance on a specially opened escrow account. This account does not allow the holder to dispose of funds until the fulfillment of specified obligations. After payment, CBI employees issue a certificate of citizenship, draw up a passport.
The last stage. Obtaining documents of citizenship. They are issued to the agent or the applicant personally (sent through courier services), if agreed in advance.
Experience shows that the process of obtaining citizenship of Grenada thanks to CIP lasts up to 6 months. We help to speed up these deadlines whenever possible by optimizing some procedures. The applicants' heirs with citizenship automatically receive citizenship of Grenada.