‘Spice Isle’ of the Caribbean – Grenada has become a favorable investment destination since August 2013 when it re-launched the Citizenship By Investment program allowing foreign nationals to obtain the second passport from Grenada in exchange of investments. Investors can apply for an economic citizenship of Grenada through services provided by a Government Authorized Marketing agent.
CITIZENSHIP BY INVESTMENT
- Quick application process, 60 working days.
- No restriction on dual citizenship.
- Parent dependents will not be required to be financially dependent on the main applicant.
- Child dependents over the age of 18 will not be
required to be enrolled in college or university.
- No inheritance, income or wealth taxes.
- No management or interview required.
- Stable business atmosphere.
Grenada’s Citizenship by Investment program is considered one of the best globally in terms of affordability and the opportunities its passport holder can enjoy. A second passport from Grenada gives its holder a visa-free access to more than 140 jurisdictions around the world, including to the Europe’s Schengen Area, the United Kingdom, Brazil, Russia and China. Grenadian economic citizens are also eligible to apply for the United States’ E-2 visa, as Grenada has the Investor Visa Treaty with the USA.
Foreign nationals, who have previously been denied a entry visa to those countries to which Grenadian citizens enjoy visa free access can not qualify, unless they re-apply and obtain the visa of that country beforehand. Applicants should also have clean criminal record and be in a good health.
Grenada allows dual citizenship. Investors can include dependents in the Citizenship by Investment Application, including spouse, children, single siblings (without children and above the age of 18) and parents no matter of their age. Investors have two investment options to choose for: (a) donation of at least USD 150,000 to the National Transformation Fund (NTF) established by the government or (b) investment of at least USD 220,000 in the real estate development approved by the government. Processing and due diligence fees are also applied.
Due diligence for all applicant aged 17 and above USD 5,000 Application fee per applicant USD 1,500 Processing fee per person aged 18 and over USD 1,500 Processing fee per person below 18 USD 500 Oath of allegiance fee per person aged 18 and over USD 20 Passport application fee per applicant USD 250 Permanent residence card per applicant USD 1,000
Bayat legal Services’ compliance team will conduct an internal due diligence.
Qualification assessment, KYC and background security check.
Study the application, sign the retainer agreement, prepare tailor made list of documents and application preparation.
Submission, file review, due diligence process
Final decision, Comfort letter issuance and contribution payment.
Naturalization certificates and passports issuance.