GRENADA CITIZENSHIP AND GRENADA PASSPORT
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 25 years;
- Inclusion of dependent parents above 65;
- 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.
- $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.
- 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.
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.
Legislative Framework for Citizenship of Grenada:
- Grenada Citizenship by Investment Amendment 2017.pdf;
- Grenada Citizenship by Investment Amendment 2018.pdf;
- Law No. 15 of 2013, otherwise referred to as the Grenada Citizenship by Investment Law.pdf.
Government approved objects
Most Frequently Asked Questions and Answers:
Thanks to the recognition of dual citizenship by Grenada, there is no need to renounce your existing citizenship..
Citizens of the country are given a unique advantage they do not need a visa to enter more than a hundred countries. Among these countries is the People's Republic of China, as Grenada was one of the first in the Caribbean region to provide its citizens with visa-free entry to this country.
The Commonwealth of Nations is ruled by the Queen of Great Britain, thanks to which the citizens of the countries that are part of this Commonwealth have the opportunity to enjoy preferential conditions when moving to countries such as Australia and Canada, while studying in British educational institutions and in a number of other cases.
Citizens of Grenada are exempted from paying a number of taxes, including capital gains tax, etc. In order to develop entrepreneurial activity, citizens developing business in the country are provided with tax incentives.
As a rule, citizenship is obtained in about four months, i.e. Grenada is one of the fastest options for obtaining a second passport. The procedure involves filing an application for citizenship, choosing the preferred investment method and passing verification measures. The applicant is then required to transfer the invested funds to the escrow agent's account. After a decision is made to issue a passport of a citizen of Grenada, the applicant pays the established fees and receives a passport.
Granting citizenship is possible on one of two grounds: investment in real estate or a contribution to the state development fund (when choosing the second option, funds are invested irrevocably). The cost of purchasing real estate in the country is at least $350,000 (if there are dependents, $25,000 is contributed for each of them). The development fund investment is US $150,000 for the main applicant, and if there are two dependents, US $200,000 is required. Also, the applicant will need to pay the established fees and charges.
Grenada does not impose requirements on citizens both in terms of permanent residence in the country, and in terms of staying for a certain period. Thus, after receiving a passport, a citizen is not obliged to move to the country and visit it periodically.
The issuance of citizenship may be refused if false information is provided, if there is a criminal record or health problems, as well as if the granting of the status of a citizen entails a threat to the country's security. Another possible reason is the refusal of the applicant to issue a visa to visit those states with which Grenada has a visa-free regime.
In addition to real estate investments, the applicant must pay a background check (this payment is $5,000 for the main applicant and adult dependents and $2,000 for children aged 12 to adulthood). There is also a payment of a state fee of US $3,000 for the main applicant and adult dependents and US $2,000 for children under the age of eighteen.
Passport holders have the opportunity to freely enter more than a hundred countries (i.e. without a visa), including the Schengen countries and the UK. It is the unhindered entry into a huge number of states that is one of the main advantages of this migration program.
No, you do not need to visit Grenada to obtain a passport. Documents for the main applicant and dependents are sent by courier mail.
The tax policy of the state allows you to optimize the tax burden. Holders of a Grenadian passport are exempt from paying taxes on personal income (this provision applies to income that a citizen receives outside the country), on capital gains, inheritance and gifts. In addition, the country has fairly low tax rates for real estate owners. Property of citizens located outside Grenada is not subject to compulsory payments to the budget.
Yes, such a possibility really exists thanks to the existence of an agreement between the countries. The E-2 visa allows you to do business in the United States (you can open a representative office of an existing company or start a business in the United States).
One of the conditions for granting citizenship is the absence of a number of diseases (according to the list) for both the main applicant and dependents. In other cases, there are no obstacles to issuing a passport: the program allows the inclusion of elderly parents over the age of 65 in the application.
A criminal record may be a reason for refusal to grant Grenadian citizenship, however, some old convictions or convictions under certain articles may not be a reason for refusal. Contact us and send your certificate to the GIC. We will talk with government agencies about the possibility of filing and processing directly in your situation.
This is possible, but not as fast as in some other countries. Contact us and we will clarify all the details.
Yes, this is a regular practice. We can offer you a package that includes obtaining the Citizenship of Grenada + residence permit in the European Union.
Yes, this service is possible for our clients. If necessary, we can arrange for you to obtain a local address and tax residence.
Please send us your bank statements, a description of your property and we have considered everything and we will answer this question for you.
Yes, if you need it, then there is such an option.