Grenada Citizenship by Investment (CBI or CIP) program has emerged as the Caribbean’s best-rated passport program. As dependents, the program accepts spouses, children, siblings, parents, and grandparents. A donation and real estate option are available through Grenada’s economic citizenship program. The real estate investment must be kept for a minimum of five years. Only certified agents who are licensed by the government may apply for the program.
The highly valued Grenada passport allows holders to fly visa-free to several countries, including the Schengen region of Europe for 90 days in 180 days, Russia for 90 days, and China for 30 days. Grenadians can also apply for an E-2 Investor visa to live in the United States, as Grenada has signed an E-2 treaty with the United States. Grenada has no capital gains or dividends taxes, but it does have an Annual Stamp Tax of 0.5 percent for receipts under $111,000 and 0.75 percent for receipts above that amount.
The Grenada Citizenship by Investment Programme is a government initiative for foreign investors to acquire Grenadian Citizenship. This program is ideal for individuals who value the freedom and privacy that second citizenship or second passport can offer.
East Caribbean Dollar (XCD)
Grenadian Citizenship can be obtained either through donation or a real estate investment. The real estate investment can be made into a government-approved tourism project or on the open market. In any case, the real estate investment must be held for at least 5 years.
The National Transformation Fund (NTF) contribution is non-refundable. The amount of the donation is determined by the number of dependents listed on the principal applicant’s application.
Applicants who choose the NTF path must pay $150,000 for a single applicant and $200,000 for a family of up to four members to the Fund. After the third dependent, add $25,000 for each additional dependent.
Choosing an Approved International Marketing Agent is the first step in applying for citizenship. Citizenship applications must be sent by agents rather than directly to Grenada's Citizenship through Investment Committee (CBIC). The applicant must fill out official paperwork, go through a medical check, and receive some supporting documentation, all of which must be written in English and adequately legalized. If the applicant is interested in buying real estate, a sale and purchase agreement must be signed. The Grenada Citizenship by Investment Program does not entail an interview at this time.
Each application is subjected to a rigorous due diligence background check by the government, during which submitted information is reviewed and checked. The CBIC examines application files in light of this due diligence check before deciding on the application. The Minister has final approval, and he usually follows the CBIC's recommendations. A CBIC application takes 60 business days to process.
Following the Minister's decision, the applicant receives a letter (via his or her Authorized Local Agent) indicating whether the application was approved or not. If the application is approved, the CBIC sends a letter instructing him or her to either make the donation or finish the purchase of his or her real estate. If real estate is purchased, the applicant must show that it has been completed and that all required documents have been signed. The CBIC issues the certificate of registration after obtaining proof of payment, indicating that the applicant has been granted Grenadian citizenship. Approved local agents must use this credential to apply for a Grenadian passport on behalf of the applicant.
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