How To Apply for Citizenship by Investment in Granada
Launched way back in 2013, Grenada citizenship by investment program has quickly escalated up in terms of attracting investors. What makes the scheme so captivating is the unlimited number of favourable options high-net-worth investors can derive from it.
Commonly known as the “Spice Islands” due to the abundance of locally grown spices, Grenada provides more than one reason to visit it. From having alluring beaches, fabulous restaurants and unforgettable festivities, the nation has become a hotspot for investors all around.
Let us now check out the various ways in which one can apply for citizenship in the country.
- Introduction To The Country:
One of the primary reasons why more and more people are preferring Grenada over other destinations is due to the scope of dual citizenship. The locale ranks high in terms of offering multiple opportunities to the investors which include dual-citizenship and visa-free travel to a handful of destinations.
Another reason for the influx of immigrants into the state is the rise of the service sector and the offshore finance industry. This alone has attributed to the overall growth of national income as the Grenadian government is working closely with many businesses related to tourism and manufacturing. With the help of the citizenship program, the government is planning to bring sustainable employment through investment opportunities.
- Complete Time Frame and Procedure of the Grenada Citizenship Program:
One of the prime aspects of the Grenada citizenship program is that its overall process is simple and not complicated like others. However, there are certain guidelines that every investor needs to catch up with.
According to Grenadian law, applications for citizenship by investment cannot be submitted directly by the investors. All individuals interested to secure permanent citizenship of the country need to contact a licensed agent for assistance at each step. The program undergoes various stages which are preliminary check, document preparation, due diligence, approval and fulfilment of investment conditions. Only after you have met the above conditions the passport is issued. The overall time frame for processing the passport takes anywhere between 3-5 months.
- What Are The Investment Options For Grenada Citizenship?
Like every other country in the world, Grenada also requires applicants to make contributions to the government fund or acquire an asset. To qualify for citizenship, the applicants must donate a non-refundable amount of USD 150,000 for single applicants.
For all those who want to go for a real estate purchase, a minimum amount of USD 220,000 is given to a government-approved project. Also, an additional fee of USD applies for this option. All investments done through real estate are duly returned after 5 years.
- What Does A Grenada Passport Offer To The Citizens?
A Grenada passport offers several benefits to the citizens some of which are discussed below. With the help of this passport, Grenada citizens have the access to over 144 countries across the globe. These include the Schengen zone, Singapore, the UK and Hong Kong. Apart from this, Grenada citizens can also travel visa-free to China for 30 days.
Another major advantage for Grenada passport holders is that they can obtain an E2 visa for the US. This allows them to establish or buy a business in the United States of America by investing an amount of $100,000. Other key benefits include:
# The ability to include spouse, children under 30, unmarried siblings aged 18, parents and grandparents of the main applicant.
# No limitations and restrictions on dual-citizenship.
# Applicants are also not required to stay for a minimum amount of time.
Grenada citizenship does not require investors to take exams for testing the language proficiency of the country. As this is the sole programme in the Caribbean with no restrictions, all investors are only subjected to strict due diligence checks for the family members aged 17 and above.
Have you read?
# Best Citizenship and Residency by Investment Programs.
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# The World’s Top 10 CEOs Over 70 Years Old.
# These are the world’s most and least powerful passports, 2022.
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