Launched in 2013, Grenada Citizenship per investment program has rapidly increased in terms of attracting investors. What makes the program so captivating is the limitless number of favorable options that wealthy investors can derive from it.
Commonly referred to as the “Spice Islands” due to the abundance of locally grown spices, Grenada offers more than one reason to visit. With its alluring beaches, fabulous restaurants and unforgettable festivities, the country has become a hotspot for investors from all over the world.
Now let us see the different ways one can apply for citizenship in the country.
- Introduction to the country:
One of the main reasons that more and more people prefer Grenada over other destinations is the scope for dual citizenship. The region ranks among the best in terms of offering multiple opportunities for investors, including dual citizenship and visa-free travel to a handful of destinations.
Another reason for the influx of immigrants into the state is the booming service sector and offshore financial industry. This alone has been attributed to the overall growth in national income, as the Grenadian government works closely with many tourism and manufacturing related businesses. With the help of the citizenship program, the government plans to create sustainable jobs through investment opportunities.
- Grenada Citizenship Program Full Timeline and Procedure:
One of the main aspects of the Grenada citizenship program is that its overall process is simple and not complicated like others. However, there are certain guidelines that every investor must adhere to.
Under Granada law, applications for citizenship by investment cannot be submitted directly by investors. All those interested in obtaining permanent citizenship of the country should contact an authorized agent for assistance at every stage. The program goes through different stages which are preliminary control, preparation of documents, due diligence, approval and compliance with investment conditions. Only after fulfilling the above conditions is the passport issued. The overall passport processing time takes anywhere between 3-5 months.
- What are the investment options for Grenadian citizenship?
Like every other country in the world, Grenada also requires applicants to contribute to the government fund or acquire an asset. To be eligible for citizenship, applicants must donate a non-refundable amount of USD 150,000 for single applicants.
For all those who want to embark on a real estate purchase, a minimum amount of 220,000 USD is granted for a project approved by the government. Additionally, an additional USD charge applies for this option. All investments made through real estate are duly repaid after 5 years.
- What does a Grenada passport offer citizens?
A Grenada passport offers several benefits to citizens some of which are discussed below. With the help of this passport, citizens of Grenada have access to more than 144 countries around 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 establish or buy a business in the United States of America by investing an amount of $100,000. Other key benefits include:
# The possibility of including the spouse, children under 30, unmarried siblings aged 18, parents and grandparents of the principal applicant.
# No limitations and restrictions on dual nationality.
# Applicants are also not required to stay for a minimum amount of time.
Grenada Citizenship does not require investors to take exams to test the country’s language skills. As the only program in the Caribbean with no restrictions, all investors are only subject to strict due diligence checks for family members aged 17 and over.
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