Grenada Citizenship By Investment & Second Passport
Passport And Citizenship In Grenada
After that, you will be given Grenada citizenship and will be able to obtain a Grenadian passport. The eligible investment must be made, and evidence of the respective investment must be provided once the application is accepted. When an application is sent to the CBIC, the government carefully considers it. CBIC conducts rigorous due-diligence tests and will reject an application if the applicant makes a false statement or fails to provide any relevant details. Citizens pay a 5% property transfer fee paid by the vendor or seller; approved projects may be subject to a lower rate.
Investment into the Government National Transformation fund and acquiring real estate in an approved development are the two opportunities on offer. It is required that you will have been a resident of the country for at least one year if you prefer to make an investment into the National Transformation Fund to gain citizenship. Recently, a number of countries have slashed their minimum investment amount. You can purchase real estate for less than before and still be eligible for citizenship by investment, making this a more attractive option .
Residency By Investment
In China, for example, increasing political crackdowns and strict capital controls are spurring individuals to seek second passport solutions in Europe, Canada, the US and the Caribbean. There are many other fantastic, Turkish resident permit legal tax reduction strategies you can use– especially if you own a business. The limit on housing expenses varies depending on the country you live in , but usually it amounts to another $15,000-$20,000 per year.
Passports for successful applicants will be issued within 10 working days. Henley & Partners will coordinate the collection process and send the passport to the client. Our team will assist in preparing all documents to support your application and investment choice. Once you investment is choice is made, and the application file is complete and if necessary, translated accordingly, the balance of the legal fee becomes payable, plus any due diligence fees and real estate deposit. Inclusion of dependent children under 30, or children with physically or mentally challenged living with and fully supported by the main applicant. Successful applicants become full citizens with the right to live and work in Grenada and in other CARICOM countries.
There Is A Fast Timeline To Citizenship
Grenadian passports are CARICOM passports that are issued to citizens of Grenada for international travel. They are biometric documents, ensuring a greater level of safety and facilitating cross-border procedures. Holders of Grenadian passports enjoy visa-free or visa-on arrival access to more than 140 countries and territories worldwide. The programme offers immediate permanent residency followed by the option of citizenship post a residency of 7 years.
Grenada has several reasons to be a favorite among high net-worth individuals. Having restructured, redeveloped, and re-launched its citizenship by investment program in 2013, the Caribbean island-nation has become a popular second citizenship option, particularly among those with larger families. Affectionately known as the Spice Island due to its rich heritage of growing and trading spices, Grenada basks in a year-round tropical climate with cooling trade winds that make the many hours of sunshine all the more pleasant. It also boasts excellent healthcare and education systems and is among the safest nations in the Caribbean.
Grenada manages one of the most family friendly investment migration programmes in the world by allowing a multitude of family members to be included on one CIP application. From submission of the application to an approval in principle, applicants are generally expected to wait three months. Singapore’s outstanding reputation as one of the world’s leading economies makes it a popular choice for residence by investment. Antigua and Barbuda is known for the ease of access due to their international airport that serves as a terminal hub linking to other countries. The Government of Grenada does not require applicants to renounce their existing citizenship to acquire Grenada citizenship, neither does it publish the names of its newly naturalised citizens. The programme also comes out top of the CBI pops in terms of due diligence, with the government continuing a strict position on dealing with any illegalities uncovered during the CBI programme process.
In this symbiotic relationship, the citizen accepts certain responsibilities such as obeying the law, and in return, the state grants them rights such as property ownership, the vote, and the ability to work in the country. The island has an idyllic tropical climate with year-round cool ocean breezes. Nicknamed the “Spice Island”, the beautiful, exotic country is rich in local history and culture. Flying to Grenada is easy with a modern international airport and direct flights from a number of major cities. Our expert team is available to consult with you regarding your goals and risk appetite to suggest the optimum investment option for your situation. The investor transfer full investment amount and associated fees to an es- crow account controlled by an on-is- land attorney.
Can I Submit Applications Directly To The Citizenship Unit?
Your spouse will also have the opportunity to obtain work in the U.S. and your children will have access to free public schooling, and reduced tuition at many of America’s coveted universities. Furthermore, those who reside in the U.S. for 122 or less will not be subject to worldwide income taxation. Grenada is the only Caribbean CBI program that can provide you with access to the United States through the U.S. Once you become a citizen of Grenada you will also become eligible to apply for the E2 Visa.
Things such as the mandatory amount of investment, the passport strength in terms of freedom of travel, the costs of living, facilities and how efficient the education and health system is. Grenada is one of the destinations that attracted attentions in recent years. We are proficient in identifying rare and exceptional opportunities around the globe for our clients which combine mainly solid investments leading to benefits of permanent residency, passports, and citizenship in that country. We are proficient in identifying rare and exceptional opportunities around the globe for our clients which combine mainly solid investments leading to benefits of permanent residency, passports and citizenship in that country. Whether you are looking for permanent residency or a second citizenship within Europe, it all starts with GCI and our Citizenship by Investment Grenada procedure. Through our unmatched variety of innovative ways to provide you with the solution, we will pinpoint the exact Citizenship by Investment Grenada you will need and the country in which your business will fluorish, for example Europe.
Problem In Biography: How An Affidavit Helped Our Client Obtain A Second Citizenship
But there are a few sticking points, especially when the Grenadian CBI program is compared to other programs in the region. People from anywhere in the world can apply, even citizens of Iran, Iraq, Afghanistan, and Syria. That said, everyone is also put through their paces in the due diligence process.
For small countries, Citizenship by Investment programmes are a useful way to attract money in order to develop social and tourism infrastructure. In 2013, Grenada launched its CBI programme, and by early 2015 the Grenadian Government had approved several projects while receiving a steady flow of applicants. In 2016, the CBI initiative continued to gain traction in the global market, and Grenada now has one of the world’s top ranked CBI programmes.
Required Documents For Grenada Citizenship
The principal applicant, in this case, the investor, must be at least 18 years of age. The island has a rich historical background characterized by the French colonization between 1649 and 1763 than the British colonization which lasted from 1763 to 1974 when Grenada became independent. The economy of Grenada is dependent on agriculture making the island a leading producer of spices such as cinnamon, nutmeg, ginger, cloves, allspice, mace, and citrus fruits. Tourism is the major foreign exchange earner for the island whose currency is the Eastern Caribbean Dollar. Grenada is an island that consists six smaller islands and is located on the South Eastern part of the Caribbean Sea.
Additionally, the investment must equal at least 50% ownership in the business. If successful, the applicant can live and work in the US based on their investment. The alternate path to Grenada citizenship is making a minimum nonrefundable $150,000 contribution into the Grenada National Transformation Fund . This option was created by the government in order to provide funding for important economic segments of the island’s economy including tourism, agriculture and alternative energy.
Approved applicants of the Grenada Citizenship by Investment program are given the opportunity to invest in pre-approved real estate expansions or, alternatively, in financing a government infrastructure contribution. Citizenship by Investment in Grenada is a fast, efficient and straightforward process, taking as little as 120 to 150 days to process. Grenadian citizenship provides many benefits, including visa-free travel to over 140 countries, no tax on worldwide income and no wealth, gift, inheritance or capital gains tax. There is no interview, education, language test or management experience required, and dual citizenship is permitted. Stylish and relaxed, romantic and fun, this boutique beach resort is well known among Caribbean travel connoisseurs. Mount Cinnamon’s luxury villas and hacienda suites are set within acres of colourful tropical gardens, in close proximity to the main clubhouse.
People of all nationalities are able to apply, unlike the other CBI programs which do not allow applications from citizens of Iran, Iraq, Afghanistan, and Syria. Grenada is the only Caribbean nation to have a special E-2 visa treaty with work permit turkey the United States, making it possible for Grenadian citizens to easily obtain an investor/business visa for the United States and reside there. The best areas to invest in Grenada are tourism, real estate, agriculture, and manufacturing.
Indian have to first become citizens of an E-2 Treaty country to become eligible. It is not as complicated as it sounds, and we have helped a number of Indian clients move to America in this way. This means that Nigerians seeking an E-2 visa need to first become citizens of a country that does have a treaty. Investment starting from US$220,000 in a government approved property development. Lying outside the hurricane belt, it is a beautiful country of lush, tropical forests, stunning waterfalls and gorgeous sandy beaches.
The following chart highlights the costs and fees associated with this route. Although the authors were not able to obtain specifics on numbers of E-2 application approvals and denials, it appears that a large majority of the E-2 visa applications for Grenadian CBIs have been approved. The U.S. Embassy confirms that it treats Grenadian CBI applicants as it treats other applicants on a case-by-case basis. Some links or “nexus” with Grenada are an area of inquiry during the interviews.
That’s an incredible opportunity for those who’ve always wanted an ‘in’ – or for those looking to renounce their US citizenship who want a backdoor into the country. You must also make a financial donation to the Grenada government’s NTF or an investment in pre-approved real estate. Making an investment and moving abroad may seem daunting, we know this from first-hand experience. At Global Citizen Solutions, we guide our clients through each step of the citizenship by investment process, with 100% success rates.
Golden visa schemes in Europe such as Portugal, Greece, Spain do not require you to live or move to these countries. Egypt opened a new fast track citizenship by investment program in 2019 after amending citizenship laws. Foreigners could become Egyptian citizens buying a real estate for $500,000. There are other investment options for citizenship such as bank deposit, Govt bonds, capital investment also available. Cyprus also has a legal and official citizenship by investment program in Europe.
If you are looking to expand your business to the US, you can use the L-1 visa to move to the US to oversee the set-up and growth of the new office. The L-1B visa permits you to transfer an employee with “Specialized knowledge” to the US. The travel ban coincided with an increase in the minimum investment amount for EB-5 to $900,000 and then the outbreak of Covid-19.
Reservation of the property or payment of due diligence fees and related fees. Once you get the approval to go ahead, you will have to complete your non-refundable investment or purchase a property directly. Upon your preparation, the advisor will check and collect your documents to ensure all the requirements are fulfilled. Dual Citizenship is accepted, allowing investors to have their primary citizenship as well. An applicant is not obligated to any residency obligation during or post granting of Grenada Citizenship.