grenada citizenship by investment

of $1,500 for a single applicant or a couple; add additional $1,500 for each 18+ dependant and $500 per child aged 0-17. In this article, well take a look at what this CBI program entails, and what its main pros and cons are. The amount will differ depending on your situation. The Grenada citizenship by investment programme provides an opportunity to apply for a Grenada passport and a huge range of benefits including: Visa-free travel to more than 140 countries and territories. Are you a solo investor? The main applicant can add his entire family under one application. As always, if you think you want to pursue citizenship in Grenada, take a step back and evaluate this: What are your goals? Divers, sailors, newlyweds, and luxury-seekers from all around the world come to enjoy Grenada’s sunshine year-round. Just a few years ago, there was an aquaculture project that collected CBI investor money but never did anything to show for it (currently, it’s under investigation). People from anywhere in the world can apply, even citizens of Iran, Iraq, Afghanistan, and Syria. If you do a lot of business in that country, it might make sense to go for Grenada over any other citizenship by investment. You must use a local government-authorized agent in order to apply for your citizenship for both the donation route and the real estate investment route. And that’s why the Grenadian CBI is not the most affordable option out there. Your Grenadian citizenship will be passed on to your children and their children. Be part of an exclusive and exciting Citizenship by Investment (CBI) opportunity. Want to know what you need to do to lay your hands on a Grenadian passport? The advantages of a Grenadian passport are many. . Benefits of obtaining Grenada Citizenship. Create a legacy that lasts a few lifetimes. Grenada is one of the few Caribbean countries with access to … APPLICATIONS SUSPENSION – GRENADA SUSTAINABLE... Congratulations to Minister Otway, Newly-Promoted to... Grenada wins Best International Citizenship Programme award. Established in 2013, the Grenada Economic Citizenship Program is one of the fastest and most efficient citizenship by investment programs in the world. After all, there isn’t much keeping the developers accountable, but Grenada has set out to fix it. For the willing investor, this particular island offers a few distinct advantages, ones that no other CBI country in the region offers. It is part of the Commonwealth, the UN, and the Caricom – the Caribbean Community organization. The median age is just 32.1 years and the population is highly educated too. However, it’s a great way to obtain more freedom and achieve one’s financial goals faster, among other advantages. It was used as a signal to warn criminal offenders that Grenada won’t hesitate to extradite people if such a procedure was ever requested. Grenada is the only Citizenship by Investment programme that allows unmarried, childless siblings of the main applicant, who are 18 years and older to be included on a family application. It also permits parents/grandparents of any age, and children under age 30, who are not necessarily registered in … Application is by invitation and each applicant, their family and or business partners must be approved individually by the Government of Grenada through a strict due diligence process. Currently, there are two qualifying investment options: Approved Project (Real Estate) in Grenada. . These changes have certainly gotten the foreign investors listening; Grenada’s CBI program is more popular than ever before. The CBI industry in general has been plagued by real estate developers who collect investor money and then stall the actual development, take a really long time to complete it, or never complete it at all. How Indians Can Benefit From Grenada's Citizenship-By-Investment Program Festive season uplifts sentiments as investors look for real estate … This is so that they would have ‘something to lose’ – not just the money of others – and thus be more diligent about the processes and timelines. However, the two aforementioned advantages and the solid reputation make it a real contender when a high net worth individual starts thinking about adding to their passport portfolio. The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. Thank you for your interest in our Citizenship by Investment programs. So, is Grenada just a case of ‘same CBI, different island’? Grenada’s CBI program has been tightened in terms of integrity and security in recent years, as it is facing stiff competition from its neighbors as well as other CBI programs in the world (looking at you, Vanuatu). is $1,500 – payable once, regardless of how many people are applying. Grenada has long been a tax haven. Invest & Live in Paradise. If your application is approved, you will have to pay the remaining fees, make the donation or finalize the purchase of real estate. Grenada has long been a tax haven. Grenada’s citizenship by investment is the only one in the Caribbean to offer visa-free travel to China and Russia in addition to Europe and over 130 countries in total. Your Grenadian citizenship will be passed on to your children and their children. You must pay the government, processing, and application fees as you send in the full application. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, How to Obtain French Citizenship By Descent, How to Obtain Ukrainian Citizenship By Descent, How to Obtain Greek Citizenship By Descent. Grenada is the only program that offers visa-free access to both China and Russia. Access to the E-2 visa to the United States, where Grenadian citizens can invest and live. They will only release the funds if developers have their own money vested in the project and can show they are making actual progress with the project. A second passport can provide greater freedom to travel internationally, peace of mind, as well as financial benefits. While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. You will need to submit the following documents: current passport, birth certificate, picture ID, police clearance certificate, education certificate, proof of address, marriage/divorce certificate, bank reference, proof of source of funds, and four different forms. People from anywhere in the world can apply, even citizens of Iran, Iraq, Afghanistan, and Syria. Coffee breaks and a relaxed attitude – island time – is something that should be accepted. It also has plenty of waterfalls, rum factories, spice farms… you name it. This is due to Grenada’s low investment level, powerful passport and USA E-2 treaty. Become a citizen of Grenada in the Caribbean and get a passport offering visa-free travel to 135+ countries. The government has worked hard to process applications as fast as they can by introducing the pre-check step in the application process. Grenada has been suffering from foreign debt for a long time and approximately 25% of its budget goes towards debt repayment. ⤅ The Grenada Citizenship by Investment Program, ⤅ The E-2 VISA – Access to the United States, ⤅  Grenada Citizenship by Investment FAQs, ⤅  Your Grenadian Citizenship and Passport. It is hoped that the 20% equity stake will prevent half-built projects and most industry professionals have lauded the change; many have said that the Grenadian CBI program is now in line with international standards. You will not have to visit or live in Grenada for any period of time to obtain or retain your passport. Grenada’s Citizenship by Investment Programme is a fantastic way to enjoy the beautiful island of Grenada, explore new paths for your business and expand your passport portfolio. You won’t have to pay for your investment until after you’re approved for Grenada’s citizenship. Jovana is our lead R&D Associate at Nomad Capitalist. Plus, the recent changes to the way the real estate investments work, especially the escrowing of investors cash and the 20% own-capital rule that developers must now follow, make us even more confident. Successful applicants will enjoy travel visa-free to over 120 countries worldwide including the UK, EU, Brazil, China, Singapore and Hong Kong. The Grenada Citizenship by Investment Program Grenada established and started running its CBI program back in 1997. It’s when a country’s government decides it wants to attract foreign investment by selling its citizenship. Stories of investors having a really hard time to renew their passports have been circulating online. You want the best passport for you, for the best possible price. In fact, about one-third of all Caribbean real estate development projects ever get finished. Third, it’s got a favorable location, which doesn’t just mean balmy temperatures of 80F and above  year-round. Ultimately, you’ll need some solid advice when it comes to navigating the CBi world and realizing what the best course of action is for you. In an uncertain world increasing numbers of people are looking for the security of a second citizenship for themselves and their families. But the ‘Island of Spice’ doesn’t just rely on nutmeg or the tourist dollars for its sustenance. Children, parents, grandparents, and siblings eligible. From the document submission to obtaining your passport, the entire process is fully digital. Second, Grenadian citizens have easy access to the United States via the E-2 Investor visa. Grenada Citizenship by Investment. The application process is straightforward and you won’t be made to jump through any unreasonable hoops. Here are the main pros of having a Grenadian citizenship: Visa-free travel to 135+ countries. . There are direct flights to Grenada from New York, London, Frankfurt, Miami and a few others. The Grenada Citizenship by Investment Programme welcomes individuals and their families, to obtain citizenship in Grenada by investing in one of Grenada's most exclusive Approved Projects or by contributing to the Government National Transformation Fund (NTF). The timeline is comparable to many other CBI programs, although it’s not the fastest one out there. Since then, major improvements to the country’s infrastructure have taken place as it grew in leaps and bounds. Donate $150,000 to Vanuatu’s local government fund. The entire process is fully digital. Out of respect to those who engage our services, we don't provide personalized advice or referrals unless you engage us. What does this small collection of islands off the coast of Venezuela have to offer? The good news is that the contribution is a one-time affair; once you pay it and obtain your passport, you won’t have to worry about anything else. A luscious Caribbean island-state, Grenada is known for its vast stretches of white-sand beaches, pristine rainforests, and its spice exports. The CBI unit will take approximately 2-3 months to process your application. The very minimum that it costs to obtain a Grenadian passport for a single applicant is. Yes. Every applicant to the program will need to make a choice: either go the donation route or invest in real estate. If you ever wanted to hop on a plane and visit your home country, you can. As you can tell, Grenada means business when it comes to the due diligence process. Capital City: Saint George's: Population: 111,724 (2017 est.) Easy access from the world’s major hubs. Our current project, Six Senses La Sagesse in Grenada, offers investors the opportunity to invest in Grenada and receive Grenadian citizenship, and access to reside and work in the United States. This change, combined with the new rule to keep real estate investors’ money in escrow rather than handing it over, has surely given the Grenadian CBI a boost in terms of accountability and trustworthiness, and have put investors at ease. Invest at least $350,000 in pre-approved real estate. And although it has not had to use it yet, Grenada signed an extradition treaty with China – the main source of CBI applicants. The recent reduction in price for co-investors follows similar price reductions in other Caribbean CBI program countries. By investing US $220,000, plus associated fees, in a Grenada government-approved real estate project, investors and their families are granted dual citizenship, allowing them to make an investment (suggested minimum amount is US $150,000) in the United States in exchange for residency and the opportunity to work there. It has no tax on income generated outside of Grenada. There aren’t many disadvantages to having a Grenadian passport. Grenada Citizenship by Investment Program Grenada launched their citizenship by investment program in 2013 for the purpose of transforming its economy to be more prosperous. For a long time, Grenada has been an agriculturally-driven state, exporting nutmeg, cocoa beans, fish and wheat flour, among other products. Grenada is a country in the Caribbean that’s also known as the ‘Island of Spice.’ The second-largest exporter of nutmeg in the world, this country has some of the most immaculate natural environments in the world. Trouble renewing passports. Meanwhile, if you’re investing with a partner, your minimum investment drops to $220,000 (total investment $440,000). And in Grenada, that proportion stands at one-third. But that’s not all, because there are other fees that will need to be paid: All in all, a single person going the donation route will pay $158,000, whereas a family of four (two young children) will shell out $214,000 minimum. The Grenada Citizenship by Investment program was established in 2013 and has the best citizenship by investment program in the world. It’s not the fastest CBI in the world, but it sure is one of the quickest in the Caribbean region. Only make your investment once your application is approved. Read on to find out. Grenada is one of the only CBI countries to allow adult siblings of the applicant to come, as well as dependent children of up to 30 years old. Grenada is also known for being an offshore haven and for offering a citizenship by investment (CBI) program for those who want to obtain a, The E-2 VISA – Access to the United States, Make a non-refundable donation to a national fund, Invest in (government-approved) real estate, Set up and run a local business, employing local people, Invest in government bonds or some sort of other financial instruments, No wealth, gift, inheritance, or capital gains taxes, and f. Grenada means business when it comes to the due diligence process. That’s not to say that you will face the same issues, but it’s a little something to keep in mind. The Grenada Citizenship by Investment Program welcomes individuals and their respective family members of excellent character to obtain citizenship in exchange for investing in the country’s prosperity. We must have a programme that offers attractive benefits, without having to reduce the price.”. We must have a programme that offers attractive benefits, without having to reduce the price.”. Everyone, of course, is subject to stringent due diligence checks – even your dependents. Investing in real estate is another option for those who want to obtain a Grenadian passport. hile it used to take months for an applicant to put this huge bundle of documents together and it took Grenada even longer to process, there is now a pre-check step. Required fields are marked *. Minister Alexandra Otway has been awarded the post of Minister of Citizenship by Investment Promotions. The citizenship by investment programme for Grenada is one of the newest programmes available to investors. The Grenada Citizenship by Investment program provides you with the opportunity to legally acquire a new nationality and Grenada economic citizenship promptly whilst enabling global mobility for you and your family. None of your personal information will be relayed to any third party and the entire application process is confidential. In 2013, the independent island nation of Grenada relaunched their Citizenship by Investment Programme. Whereas you can potentially recoup the real estate investment, the donation is non-refundable, for example. That’s either because it has no other way to raise funds or it finds itself under a sudden economic strain, for instance, after a recent natural disaster. At the same time, the program leaders have tried to steer a course towards increased revenue too; boosting the integrity and getting more investor money isn’t always a reconcilable effort. Then, 2019 was a record year when the Grenadian government raised $61 million (13% more year-on-year). The government has taken a unique approach: when every other Caribbean CBI lowered its prices, Grenada has actually kept its pricing the same, but added some extra incentives instead. You want the best passport for you, for the best possible price. E-2 visa treaty. In order to preserve the prestige of Grenada’s Citizenship by Investment (CBI) initiatives, the CBI programme is governed by a legal protocol. But as far as you’re concerned, it also offers you the option to buy a Grenadian passport in exchange for $150,000-$220,000. The Grenada citizenship programme was reborn in 2013 under the leadership of billionaire British property developer Peter de Savary, who is Grenada’s Ambassador for Foreign Investment and spends much of his time in his properties on the island. The ‘rescue mission’ to rid Grenada of communism took place in 1984 and was led by the United States. Grenada Citizenship by Investment. © 2020 Government of Grenada. Thanks, Andrew!”, “I wasn’t able to travel to China before without having to deal with the huge hassle of obtaining a visa. There are certain conditions that people besides you must fulfill, but Grenada’s CBI program is one of the most inclusive in the world. This recently introduced pre-check step streamlines the application process and allows for the due diligence checks to start, thus saving everyone time in the end. What this Island of Spice has to offer that no other CBi in the region can are two things: 1. When you think about it in global terms, it’s really quite a dire situation. Fully digital process. First, you’ll need to check if you’re eligible: Note that Grenada is one of the few CBI countries with no nationality restrictions, meaning that applicants of all nationalities are welcome to apply. No residence requirement. If you ever wanted to hop on a plane and visit your home country, you can. It can be renewed for as many times as you’d like, as long as you maintain your ‘substantial’ investment. Sure, it’s not a novelty in the region as many of Grenada’s neighbors also have similar programs. Eventually, they got renewed, but after much trouble. To date, it is the most successful development under Grenada’s Citizenship by Investment Program, having attracted more than 80 per cent of all investment applications. Address: Grenada Citizenship by Investment, Spice exports lead R & d Associate at Nomad Capitalist, download the required forms or find an to! 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