Grenada
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Grenada
About Country-
The Island nation of Grenada sits at the southern end of the Antilles chain, just north of Tobago. It was initially settled by the French and ultimately became a British territory. Popularly known as the Spice Island for its myriad locally grown spices, Grenada offers one of the most picturesque waterfronts in all the Caribbean. The sublime scenery is just one of the many reasons to visit the three beautiful main Islands. Diving, sailing, excellent restaurants, fabulous beaches, and a calendar of unforgettable festivities have fortified Grenada’s status as the preferred destination of many high net worth investors. Grenada is also a frequent cruise ship destination, and tourism is a chief contributor to the economy.
About the Programme-
Grenada’s real estate CIP requires an investment of at least $350,000. Or you can qualify for economic citizenship by making a $200,000 donation to the National Transformation Fund (NTF). The real estate investment covers an entire family no matter the size. The NTF donation covers a family of four. Grenada recognizes dual citizenship, meaning investors can still benefit from their current passports.
Investment Options-
With its economy shifting from agricultural-dominant to service-dominant, one of the most viable options for foreign nationals is an investment in a pre-approved real estate project.
Applicants must invest a minimum of US$350,000, which must be maintained for a minimum of four years. The minimum amount includes the main applicant, main applicant’s spouse and two qualifying dependents. An extra US$25,000 is required for each additional dependent. Note that where an application includes an eligible parent not exceeding the age of fifty-five years, an additional contribution of USD 50,000 will be required to be made with the post-approval contribution. Where an application includes an eligible sibling, an additional contribution of USD 75,000 will be required to be made with the post-approval contribution.
Applicants may donate a minimum of US$150,000 to Grenada’s National Transformation Fund. The minimum amount covers the main applicant only. For a family of up-to four people, the requirement is set at US$200,000. An extra donation of US$25,000 is required for each additional dependent.
Note that where an application includes an eligible parent not exceeding the age of fifty-five years, an additional contribution of USD 50,000 will be required to be made with the post-approval contribution. Where an application includes an eligible sibling, an additional contribution of USD 75,000 will be required to be made with the post-approval contribution.
Benefits-
- Fast processing within four months.
- Inclusion of dependent children under 30, or children with physically or mentally challenged living with and fully supported by the main applicant.
- Inclusion of dependent siblings of the main applicant or spouse who have no children and are under 18.
- Inclusion of dependent parents.
- No physical residency requirements.
- No requirement to travel to Grenada during the application process.
- No interview, education or management experience required.
- Visa-free travel to over 125 countries, including Europe’s Schengen zone.
- E-2 Visa Program 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.
Requirements -
The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. Grenada’s pilot scheme allows qualified investors and their family members to apply for citizenship and benefit from visa-free travel.
In recent years tourism has become the leading sector for foreign direct investments in Grenada. Another service sector on the rise is the offshore financial industry, which together with strong performances in construction and manufacturing, have also contributed to growth in national output.
As part of its strategy to attract foreign direct investment, the Grenadian government is working closely with a select number of businesses related to tourism, agriculture and manufacturing. Through the implementation of the program, the government also hopes to create investment opportunities that will bring about sustainable employment.
To qualify for citizenship, applicants must fulfill one of the investment options below in addition to the following criteria:
- Be of outstanding character.
- Hold no criminal record.
- Have excellent health.
- Have a high personal net worth.
Mobility-
As a citizen of Grenada, you can travel to 142+ countries visa free which includes the UK, Schengen states, Singapore, Hong Kong, China and Russia. Grenadian citizens had visa-free or visa on arrival access to 144 countries and territories, ranking the Grenadian passport 33rd in terms of travel freedom.
Procedures and time frame-
The application process for Grenadian citizenship is efficient and uncomplicated, and the applicant is not required to visit Grenada to complete the process.
The Grenadian citizenship-by-investment application pack will be delivered to you. It will include all the relevant documentation, accompanied by detailed instructions. Once everything is returned to us, we will double-check the application for completeness and accuracy to minimize the possibility of rejection.
Once an application is submitted, the government generally provides an answer within 90 days. Passports for successful applicants will be issued within 10 working days. Applicants are not required to pick up their passports in person. Henley & Partners will coordinate the collection process and send the passport(s) to the client.
Under the real estate option, the time frame may vary depending upon the project. Therefore, it is important to select a real estate project that is able to provide the necessary paperwork from the developer. Henley & Partners will guide you in this regard.