Grenada Citizenship Programme
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In this article, we’ll share a list of achievements made by the Grenada CBI Program over years. Grenada Citizenship through Real Estate Investment offers great returns on investments. This is a small island country but its geographical location and closeness to nature make it a premium destination to have a second home.
Your children will benefit from a 90% reduction in tuition fees at Saint George’s University, a world-renowned university for medical programs. 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. You can obtain your Grenada passport in as little as 4-6 turkish citizenship by investment months, without the need to visit or reside in Grenada. We at Hudson’s Investment Migration Consultancy assist and advise clients looking to obtain new citizenship and/or residency. To date, we have helped a large number of clients from various parts of the world. Has been denied a visa to a country with which Grenada has visa-free travel.
How Is The Economy Of Grenada?
In most countries, you are required to make some or all of the investment upfront while in others you only have to deposit the funds once your application is approved. Once you have gathered all the documents and submitted your application, the government will perform their due diligence process, which can take several months. In both Antigua and St. Lucia, rather than start a business, you can invest in a local company and qualify. In Antigua, you’ll need to invest $400,000 plus fees (vs. the flat $100,000 donation) and in St. Lucia you’ll need to invest a whopping $3.5 million into a local enterprise project.
The crown jewel of the eastern Caribbean Sea, Grenada is located to the north of Latin America. This small island nation is home to boundless opportunity for foreigners seeking luxury travel, incredible investment opportunities, and pathways to the United States. The time taken to process the data is typically between 2 weeks and 4 months. Shortlisted projects could include villas, resorts and luxury hotels. These investments must be maintained for at least 3 years from the date of getting citizenship. Only a registered agent can submit an application to participate in the Grenada Citizenship Program on behalf of the investor.
Do I Need To Visit Grenada During The Application Process?
CBI programs are also a terrific channel for high net-income holders from developing countries looking to bolster and diversify their investment portfolio. They offer greater migration options along with freedom to travel visa-free to over 143 countries, including the UK, Schengen, Russia & China. Treasured by investors for its unspoiled beauty, Grenada’s natural landscape is but one of the many enticements to invest in real estate on the island.
Economic citizens have the right to live, work, bank and invest in the country, making it an ideal bolt-hole destination. Grenada passport is the only country in the caribbean which has visa free travel to China, Russia. As of January law firm istanbul 2019, Grenadian citizens had visa on arrival visa-free travel to 143 countries including the EU Schengen area, the UK, China, Russia, Singapore and the UAE. The Passport fee is $250 for each individual being issued a passport.
If investment was made in real estate, the property should be held for a minimum of 4 years. The government contribution scheme requires investors to invest USD 150,000 in the National Transformation Fund. This is a one-time, non-refundable monetary donation to the government.
In Grenada, complete applications are processed in 60 business days – far quicker than the years of waiting that applicants experience in other jurisdictions. Furthermore, applicants need not reside on any of Grenada’s three islands prior to, or after obtaining citizenship. To make the process even more welcoming, Grenada does not test an applicant’s language skills, education level, or business experience. In an exemplification of this concept, the Government of Grenada does not ban any foreign nationals from applying under the CBI Programme on the basis of their current citizenship or country of origin. Grenada passports are one of the most beneficial options for people doing business in Russia or China. Grenada is among the 11 countries that allow free travel without requiring a Visa.
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The National Transformation Fund was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent. The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy. $5,000 due diligence fee for every person on the application over 17 years old. Grenada allows dual citizenship, which means you do not have to renounce your former citizenship to qualify.
The program stalled after the terrorist attacks of September 11, 2001, but was relaunched in 2013 with a new set of rules that streamlined the process and made it a real contender in the CBI world. Grenada has one of the fastest application processing times in the Caribbean. Grenada is the onlyprogram that offers visa-free access to both China and Russia. To this date, over 2,100 people have gotten their Grenadian passports by investment. The country has had decent GDP growth and an economy that’s small, but robust. However, it’s overreliance on just a few industries means that Grenada’s CBI program is somewhat of a lifeline.
Residency programmes offer immediate residency following a successful application and full citizenship can usually be applied for after a period of time. In the future, Egor and Anna are planning to move to live in the United States. As citizens of Grenada, they will be able to obtain a US visa for ten years, so they will not be limited in time to find a job.
Upon approval, applicants who are not nationals of Commonwealth countries must take an Oath of Allegiance. Grenada allows a special naturalisation process for people who are political refugees or stateless, at the discretion of the Minister. Grenada is a democratic state with a Westminster Parliamentary form of governance. It has constitutionally held elections every five years, and the people are truly represented within the government. The solidity of the government means that your investment will be as safe as possible. In 2013, the Parliament of Grenada passed “Act No. 15 of 2013,” otherwise known as the Grenadian Economic Citizenship Act.
But none of the programs in the Caribbean currently allow citizenship to be awarded to a third generation – so your children won’t be able to pass their St. Lucian citizenship to their kids. Most programs in the Caribbean do allow your direct descendants to obtain a passport, but usually only after they pay a hefty fee. You can choose to work with a world-famous service provider and pay tens of thousands of dollars in fees, or with a much smaller firm and pay a fraction of that amount.
Overall it ranks as number 61 out of 198 passports in our passport ranking. Investors have a choice between donating to the National Transformation Fund or buying real estate. After a 35 year-long history of leading the field of economic citizenships, St. Kitts’ program has earned a stellar reputation.
This program is meant to provide the second citizenship in this EU nation with the amenities of visa-free traveling to more than 153 countries. Apart from the benefits in the EU nations, the UK, and China, this visa provides the USA E2 treaty investor visa to the citizenship owner. Established in 1993, the Dominica economic citizenship programme is one of the most popular and compelling options in the world. The island state is globally renowned as an ecotourism destination, boasting spectacular natural scenery, rich biodiversity and some of the best beaches in the world. But while the island state offers second citizens an unparalleled lifestyle, it is the programme’s comparably low investment requirements and favourable tax regime that serves as its biggest draw card.