Citizenship By Investment - Grenada

Synopsis :

Popularly known as “The Spice Island”, because of the myriad locally grown spices, Grenada offers one of the most picturesque waterfronts in all of the Caribbean.

The sublime scenery is but one of the many enticements to visit the three beautiful main islands. Diving, sailing, excellent restaurants, fabulous beaches and a calendar of unforgettable festivities add to the many reasons why Grenada has become preferred destination to many high net worth investors. The mix of unspoilt, authentic Carribean of yesteryear coupled with a friendly and modern lifestyle makes Grenada the perfect place to live and to play.

The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. The aim of the citizenship by investemtn (CBI) program is to generate foreign investment through capital and real estate investment and in exchange offer investors citizenship and a passport.

http://www.gbsei.com/wp-content/uploads/2020/12/Grenada.jpg

Advantages of Obtaining Citizenship from Grenada :

  • Grenada is the only country in the world that has both an active CBI Programme and a bilateral investment treaty with the USA. This allows citizens of Grenada to apply for an E-2 treaty investor visa and allows them to live and work in the USA.
  • Favourable tax environment: no taxation on worldwide income. No capital gains,estate or inheritance tax.
  • No physical residency requirements
  • No interview, education or managerial experience required
  • Fast processing
  • Inclusion of dependent children under 25.
  • Inclusion of dependent parents above 65 who are currently residing with the applicant
  • Inclusion of mentally or physically challenged dependent children and/or parents
  • Inclusion of siblings of main applicant or of the spouse, whether biological or adopted, aged at least 18, single, and with no children
  • Dual citizenship allowed under the laws of Grenada

Investment Criterias:

The applicant choose from any of the below mentioned criteria:

1. Contribution to National Transformation Fund (NTF)

The NTF is responsible for funding Government-sponsored projects in Grenada.

Single Applicant USD 150,000
Family of up to 3 dependents (spouse + 2 children) USD 200,000
Each additional dependent USD 25,000
Any parent or grandparent under the age of 55 USD 50,000
Any sibling USD 75,000

2. Real Estate

Applicants may purchase property valued at a minimum of USD 350,000 in a pre-approved real estate development area. The property must be owned and maintained for a minimum of five years.

The following Government Fees apply:

Single Applicant USD 50,000
Family of up to 3 dependents (spouse + 2 children) USD 30,000
Each additional dependent USD 25,000
Any parent or grandparent under the age of 55 USD 50,000
Any sibling USD 75,000

Required Documents for Application:

  • Birth certificate of all applicants
  • Marriage Certificate
  • Clear criminal records
  • A bank financial statement with proof of a legal source of income
  • Medical examination (health certificate that it is free of diseases)
  • CV and recommendation letters

Application Process:

  1. File preparation, advisory and due diligence fees are applicable at this step.
  2. Payment of application fees and investment in the selected property development.
  3. Submission of PR application and transfer of donation and submission of citizenship application.
  4. Naturalization certificate is issued.
  5. Submission of passport application. Passport issuance.

Timeframe:

The timeframe for the completion of the process is approximately 4 months from submission of the application to issuance of the passport, assuming there are no areas of concern with the application.

The following basic fees apply to all investment options and shall be quoted at the time of application:

  • Due Diligence Fees
  • Application Fees
  • Processing Fee
  • Bank Charges
  • Passport Fees
  • Professional Fees

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions. We also suggest that independent legal, tax, professional advice be obtained by the user of this information before proceeding with the application.

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GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
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AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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