Second Citizenship By Investment
Real Estate Projects
You obtain a share in a lifestyle Cosmetic Surgery Clinic, Hotel, and Spa which are dedicated to sustainability and the wellness of its patients and guests. The development is planned for construction during 2022 in Grenada and will be managed by the developer with construction experience on the Caribbean island of Grenada. The clinic, hotel, and spa will cater for local and international patients seeking elective cosmetic surgery, in a relaxed, idyllic Caribbean island environment.
Applying for Grenadian citizenship as a spouse through the general processing route may take two years. Citizenship by Investment processing times are incredibly short – averaging just 45 days. If both spouses require citizenship quickly then it you should consider a dual CBI application. Similarly, an Indian client who has strong business links with China is pursuing Grenada citizenship because of heightened tensions between the two countries. Take the example of one client, an American businessman who spends lots of time in Beijing.
There is an elaborate process that is to be followed by the principal applicant. If the dependents are students, they must be aged between 18 and 25 and demonstrate full dependence on their parents for survival. The applicant has to pass a Due Diligence examination and must have no criminal record. Children of investors will avoid military service in their home countries where applicable. Unrestricted right to live, work, travel and study anywhere in the Caribbean Community .
Purchasing at Kimpton Kawana Bay provides hassle-free title deeded ownership, a share of hotel revenue each year and no annual out of pocket fees. Aside from offshore hedging, international residence and citizenship planning is top of mind for many locals. Visa-free travel to over 140 countries including Schengen countries, the UK, and is one of three countries to enjoy visa-free travel to China.
The Ultimate Guide To Malta Citizenship By Investment
Choosing an investment option, the international marketing agent you have chosen can help you choose the investment option that works best for you. In the case of real estate, the international marketing agent can show you approved real estate projects and advise you on which one can provide you with the best return on your investment. Ease of processingFollowing a slowdown of processing in 2018, Grenada has improved the speed of its processing procedures in recent years with applicants receiving citizenship within 60 business days.
Temporary residence of Montenegro can be acquired on grounds of employment, education and international students’ exchange, medical treatments, family reunion and other. Citizenship by investment is becoming increasingly popular across the globe. The concept is not only embraced by investors, but also amongst governments. And the range of options for investors is becoming increasingly large as well.
Its capital is St Georges which is known for its large exports of spices such as nutmeg and mace. A person to whom Citizenship by Investment is granted by virtue of an investment into an approved project shall not dispose of the investment until the expiration of 5 years from the grant of his or her Citizenship. Applicants opting for the approved project route must invest at least USD 350,000. Mikhail also learned at the university’s admissions office that the university is reluctant to accept applications from Russian applicants. Under the terms of the agreement, the university is obliged to provide an internship in the United States, but Russian citizens are often denied an American visa.
In this publication, we will introduce all the immigration programmes allowing Afghan nationals to obtain a second residency or citizenship through investment. A minimum investment of $350,000 USD is required by a Grenada citizenship program applicant into a GCBI approved project. In addition, there is a $50,000 USD government fee for a family of up to four persons. Located near the southeastern Caribbean Sea, Grenada is a member of the Commonwealth and is the only Caribbean program that offers the possibility to relocate to the USA and visa-free access to China.
It is not necessary to travel to Grenada before, during or after the application process. There are no capital gains, inheritance taxes, income taxes or wealth taxes on worldwide income or properties. The advantages of a Grenada passport could be passed on to future generations.
- The Maltese passport is also by far the best passport of all the available options (short of Austria, which does not have a real, explicit citizenship-by-investment program).
- In return, it allows foreign investors obtain permanent legal citizenship and second passport within 4 to 6 months.
- When the citizenship application is approved, the qualifying investment in Grenada must be made and proof of the respective investment must be supplied.
- The advantages of a Grenada passport could be passed on to future generations.
- But it is advised to invest in government-approved properties for at least 3 years.
The Grenadian constitution entitles the spouse of a Grenadian citizen to Grenadian citizenship. So it is possible to apply as a single applicant, save $50,000, and arrange citizenship for the spouse at a later stage. This could be the case if they are planning an E-2 investment and need capital to start-up or acquire a business in the United States. Prior to the new USD 220,000 share ownership program most of our clients were exclusively interested in the CBI USD 150,000 donation option. You can obtain an E2 visa regardless of the manner you used to obtain your Grenada passport. We have clients living in the US on an E2 investment visa to prove it.
The Benefits Of Grenada Citizenship By Investment
Inaccurate or incomplete disclosures result in applications being returned for further vetting. So who are these ultra high net worth individuals purchasing second citizenships? Well, according to another report titled A Shrinking World – Global Citizenship for UHNW Individualsaround 60% of all ultra high net worth second citizenship applicants come from countries in the Middle East. The programs are also luring a growing number of super-rich applicants from China and Russia, who are seeking economic and geographic safety.
You should discuss with your immigration attorney about whether the other country or countries in which you have citizenship permit dual citizenship. India, for example, does not permit dual citizenship but has something called Overseas Citizen of India status that can be held together with Grenada citizenship. This offers most of the benefits with the main restrictions being on the ability to hold office, work in government jobs, and own agricultural land in India. Grenada is a member of the Caribbean Community and the Organization of Eastern Caribbean States, and the country is becoming a top choice of destination for high-net-worth investors seeking a second passport.
Citizenship Of Grenada Via Investment In Silversands Hotel
An authorized international marketing agent processes applications and communicates with an authorized local agent . A significant advantage of citizenship-by-investment is that it applies to the applicant’s family members, making them eligible for Grenada citizenship as well. There are no taxes on worldwide income, capital gains or inheritance.
While there is no minimum investment threshold, the investment amount should be “substantial” to demonstrate financial commitment to the business and the investor must own at least a 50% of the business. The investor is expected to actively or remotely “direct and grow” the business. The spouse of the E-2 visa holder may apply for a work permit and the children may be treated in the resident pool of students. The E-2 visa is a non-immigrant visa, which is technically not a path to a passport or Green Card but may be used as a basis of a direct EB-5 green card investment or a EB-1c green card application in the future if possible. E-2 visa holders are only taxed on US sourced income as long as the substantial presence test is not exceeded. The mode of your preferred investment can be discussed with our experts.
This scheme attracts rich families who invest CAD 1.2m (financing costs $250,000) plus prove net assets of atleast $2 million. Due to Covid, please expect delayed processing times of atleast 6 months. It is possible to apply for GV through Greek consulates abroad due to Covid situation. Portugal is extremely popular because it does not impose ‘live Turkish citizenship 250.000 USD in the country’ requirement, with a path to EU citizenship. Note that from Jan 1, 2022 Portugal will increase minimum GV investments to 350k euro and these investments will be shifted to inner regions. Bulgaria strictly requires to maintain EUR 1 million investment for atleast 5 years else citizenship will be stripped under the constitutional laws.
This is necessary not only to fulfill the requirements of the government to obtain Grenada citizenship, but also for a number of nuances in the paperwork. The agent will help you correctly prepare a petition for citizenship, as well as familiarize you with the current tariffs and auxiliary fees. These are just one of the many temptations to visit the main three beautiful islands. Diving, sailing, excellent restaurants, clean beaches and unforgettable celebrations all year round are some reasons why many wealthy investors prefer Grenada. The growing interest in real estate is that the country offers more real estate options. For investors who are looking to expand their portfolio with a second passport, having to renounce their current citizenship generally is a big concern.
A VAT tax rate of 15% is charged on goods and services that are purchased in Grenada and goods/supplies imported into Grenada. Citizens of Grenada will only pay personal income tax if the income is sourced domestically. The currency used on Grenada is the Eastern Turkish citizenship 250.000 USD Caribbean dollar which is pegged to the US Dollar at 2.7 XCD per 1 USD. Children of the E-2 applicant can attend school in the US and may be eligible for in-state tuition. All of the application forms are completed and the supporting documents are collected.
The sublime scenery is just one of the many reasons to visit the three beautiful main islands. The capital of Grenada is St. George’s and English is Grenada’s official language. The governmental system is a parliamentary democracy under a constitutional monarchy.
If you are interested, be sure to check out our article on how to buy real estate in Turkey, as well as our Turkish citizenship by investment guide. For example, you can invest $220,000 in real estate in Dominica instead of donating $100,000, but you still need to pay a government fee for the real estate. In Dominica, the fee is $35,000 and the amount only goes up from there in other countries. Anything that cannot meet all four requirements does not qualify as a citizenship by investment. That does not mean that other programs won’t work for you (unless, of course, they’re illegal), but it is important to know what you’re getting into. There are also situations where a country will talk about starting a citizenship by investment program but then never follow through.
If the client had not been from an E-2 Treaty Country, the client would need to have first obtained citizenship of an E-2 Treaty Country. The two E-2 treaty countries offering the quickest and most cost-effective pathways to citizenship are Grenada and Turkey. Eligibility for the E-2 Visa is determined by country of citizenship. An applicant must hold citizenship of a country that holds an E-2 Treaty with the United States. Investors can choose to purchase a ready-made franchise business provided it complies with the E-2 visa regulations.
Countries that offer citizenship by investment have determined that individuals who contribute to the economy by making an initial investment or donation fulfill this responsibility and merit citizenship in return. Certain governments are willing to grant you citizenship and a passport in as little as three months in exchange for a sizable investment or donation in their country. Through TFG Global Solutions, The First Group facilitates residency by investment applications to five second passport countries – including Antigua and Barbuda, Dominica, Grenada, Turkey, and Vanuatu. Citizenship by investment will allow investors and their families to obtain second citizenship much faster.
Investing in a share of the exclusive Six Senses La Sagesse is currently priced at USD 220,000. This allows the investor to take advantage of a seven-night annual complimentary stay at the resort, along with the investment in this new hospitality brand with a unique concept. The investment will entitle the investor and their families to apply for lifetime citizenship and passports from Grenada.
In fact, when President Trump chose to suspend a swathe of visa categories in response to Covid, he deliberately exempted the E-2 Visa from the “ban”. The EB-5 program will find itself on the agenda of Congress this year as it faces reauthorization in June and as a bipartisan reform bill gains ground. While this could have a positive impact, some investors may wish to act in the first half of the year to lock in their investments with the surety of the current regulations. Much of how immigration policy plays out during Biden’s first two years in office will depend on which party ends up in control of the Senate after a run-off election in Georgia today, January 5. Then tomorrow, January 6, Congress is required to sign off on the election results in what will be President Trump’s last opportunity to contest them ahead of Joe Biden’s inauguration on January 20. The political theater may calm down in late January, but questions will remain about how Biden will approach immigration policy as he attempts to repair the nation’s finances after Covid-19.