Grenada Citizenship by Investment
May 17 2019 11:28:01 PM
Popularly known as the Spice Island because of its myriad locally grown spices, Grenada is one of the waterfronts in all the Caribbean. Sailing, diving, great restaurants, amazing beaches and a calendar of interesting festivities add to the many reasons why Grenada has become a preferred destination for many high net worth investors.
Grenada second passport by Investment Program was launched in 2013 under the regulations of the GrenadaCitizenship by Investment Act.
To qualify for citizenship in Grenada, applicants must fulfill one of the investment options in addition to meeting the following criteria:
Be of outstanding character.
Hold no criminal record.
Have excellent health.
Have a high personal net worth.
The investment options for the Citizenship by Investment program of Grenada are as follows:
1. 1. National Transformation Fund Donation
Applicants can contribute a minimum of US$150,000 to Grenada’s National Transformation Fund. The minimum amount is applicable to the main applicant only. For a family of up to max 4 members, the requirement is estimated as US$200,000. An extra contribution of US$25,000 has to be made for each additional dependent. Donations are transferred in two installments.
1. 2. Real Estate Investment
I. Mount Cinnamon Shares
Applicants may invest a minimum of US$350,000 for a family of up to four (main applicant, spouse, and two qualifying dependents). An extra US$25,000 will be required for each additional dependent. Mount Cinnamon covers the following costs for the main applicant and spouse: due diligence, an investment fee, government and application fees, passport and Oath of Allegiance fees, local escrow fees and related VAT and bank charges (up to US$3,500).
Dependents are required to pay the fees listed above and applicable charges. Getting the opportunity to own shares of Mount Cinnamon is an invitation to become a citizen of Grenada, you can begin a long and fruitful relationship with the island and its culture and contribute to its future.
Mount Cinnamon Freehold
The new limited release of just 25 whole ownership condominiums will be available at US$450,000. Ownership of these 484 square feet fully furnished units are mandated for a period of 5 years after which the property can be sold or retained. In either circumstance, units would remain as a part of the hotel rental pool.
The advantages of investing in Grenada
Following are the few benefits of Grenadian Citizenship by Investment Program
-Fast processing within 4 months.
-Inclusion of dependent children under 26.
-Inclusion of dependent parents over 55.
-No physical residency requirements.
-No requirement of traveling to Grenada during the application process.
-No interview, education or managerial experience required.
-Visa-free travel access to 100 countries, which includes Europe's Schengen zone and China.
-E-2 treaty signed between Grenada and the United States. Which allows citizens of Grenada to operate a substantial business in the U.S.
-No tax on worldwide income.
Processing Time and Steps
1. Decide how you would wish to invest
2. XIPHIAS Immigration will help you in file preparation and getting a pre-approval letter
3. Citizenship file submission.
4. Government of Grenada issues approved principle letter.
5. Make a relevant investment.
6. Submission of passport application.
7. Naturalization Certificate is issued.
8. Receiving your second passport within 3 to 4 months span of time, you will be able to travel as a citizen of Grenada.
To Know more about the Application Process and your Eligibility