Launched in 2013, Grenada’s citizenship-by-investment program has quickly gained popularity among investors. What makes this program so attractive is the almost limitless number of attractive options that wealthy investors can take advantage of.
Often referred to as the ‘Spice Island’ for its cultivation of nutmeg and mace, Grenada is an English-speaking Commonwealth country with a common law legal system as well as a stable government.
Grenada offers many reasons to visit. Its beach attractions, acclaimed restaurants, and memorable parties have made Grenada a favorite location for investors from around the world.
Now let’s see the different possibilities of applying for citizenship in this country.
An introduction to Grenada
One of the main reasons why more and more people prefer Grenada over other destinations is the possibility of enjoying dual citizenship. Grenada ranks well in terms of multiple opportunities available to investors, including dual citizenship and visa waivers for a number of destinations.
Another reason for the influx of immigrants into the state is the booming service sector and offshore financial industry. This factor has contributed to the overall growth in national income, as the Grenadian government works closely with many businesses in the tourism and manufacturing sectors. As a result, through the citizenship program, the government plans to create sustainable jobs through investment opportunities.
Citizenship program deadlines and procedure
One of the main things about the Grenada Citizenship Program is that the overall way it works is very simple, especially when compared to other programs. However, there are certain guidelines that every investor must follow.
According to Grenadian law, applications for citizenship by investment cannot be submitted directly by investors. Anyone wishing to obtain permanent citizenship of the country must contact an authorized agent in order to be assisted from the beginning until the end.
It should be mentioned that this program goes through several stages which are preliminary verification, preparation of documents, due diligence, validation, and compliance with investment conditions. Once you meet all the above conditions, the passport is issued. The overall passport processing time is 3-5 months.
Investment Opportunities to Obtain Grenada Citizenship
Like every other country in the world, Grenada requires applicants to contribute to a government fund or purchase the property. Therefore, to obtain citizenship, applicants must donate a non-refundable amount of USD 150,000, which is applicable for single applicants.
For anyone looking to get started with buying real estate, a minimum of $220,000 must be contributed to a government-approved project. Additional charges also apply to this option. All investments made in real estate are duly repaid after 5 years.
Grenada Passport Benefits
The Grenada passport offers several benefits to citizens, some of which are shown below. With this passport, citizens of Grenada have access to more than 144 countries in the world. These include the Schengen area, Singapore, the United Kingdom, and Hong Kong. Apart from this, citizens of Grenada can also travel visa-free to China for 30 days.
Another major benefit for Grenada passport holders is that they can obtain an E2 visa for the United States. This allows them to create or buy a business in the United States by investing an amount of 100,000 dollars. Other key benefits to highlight are:
- The possibility of including the spouse, children under 30, unmarried siblings aged 18, parents and grandparents of the principal applicant
- There are no limitations or restrictions on dual citizenship.
- Applicants are not required to stay there for a minimum duration.
Grenada citizenship does not require investors to pass exams to test proficiency in the country’s language. As the only restriction-free program in the Caribbean, all investors are subject to strict due diligence checks for family members aged 17 and over.
If you’d like to explore your options based on your unique circumstances, Schedule a free consultation with our team today!
Disclaimer
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