Obtaining a second citizenship in Grenada is possible in several ways and the terms for obtaining the citizenship of this country depend on the chosen way to invest money. If you decide to invest in the state fund, then citizenship is made out in 12 months. However, before permanent residence is issued, for which the investor can claim 4 months after the application was filed. By purchasing a real estate, you can become a citizen of Grenada for 4 months after the appeal.
The legislation of Grenada provides government guarantees for economic migrants who have received status by investment. Obtained citizenship, you become a full-fledged citizen, and have the same rights as others, including the right to participate in elections.
CITIZENSHIP OF GRENADA: COST AND CONDITIONS OF INVESTMENT IN REAL ESTATE OBJECTS
Of the two ways of obtaining Grenada’s citizenship, the most common choice is the acquisition of rights to own part of the resort object, since these investments can not only be returned, but also can give a good profit. There are several conditions for investing in real estate:
- By investing, you get the right to own real estate in the amount of the realized investment, and not the property itself.
- Share can be obtained only in a particular resort, and not in any property.
- The investor’s family has the right to use the services of the complex, which is the object of investment, on preferential terms.
- The investor does not incur additional costs for the maintenance of the resort. The cost of maintenance and service falls on the management company.
- The investor should be the owner of the share in the property for 4 years. After the set period is over, you can sell your rights to the share of ownership of the complex, which will allow you to return the money invested.
The minimum amount of investment in real estate should be 250 thousand dollars.
HOW DOES INVESTOR OBTAIN THE STATUS?
The registration of citizenship of economic program consists of two stages. First of all it is necessary to determine where do you want to invest: to real estate or to government fund. After taking the decision the necessary package of documents is preparing. Security screening of applicant will be conducted on the basis of these documents. Investor pays costs of security screening. Then, investment funds are transferred on the account of escrow agency. After that, necessary package of documents will be provided to government commission of the country. If there is no possibility to provide it personal, then you can deliver it with courier.
If the government of the country makes a positive decision, then the applicant and his family will receive Grenada’s passports. In addition to a passport, an economic migrant receives a certificate of citizenship registration, which is issued and signed personally by the Prime Minister of Grenada. After this, the funds are withdrawn from the agent’s account for the investment realization.
All attendant taxes and dues are paid by investors individual. There is no necessity to come to Grenada for obtaining a passport. It can be delivered by courier.