Whereas you can potentially recoup the real estate investment, the donation is non-refundable, for example. But the ‘Island of Spice’ doesn’t just rely on nutmeg or the tourist dollars for its sustenance. Efficiency in the Caribbean region isn’t something that’s that important. It was used as a signal to warn criminal offenders that Grenada won’t hesitate to extradite people if such a procedure was ever requested. Grenada is the cheapest of 3 CBI programs with access to the US E-2 investor visa. Not many other countries in the world have it either; China and India do not, for example. is $1,500 – payable once, regardless of how many people are applying. The Grenada Citizenship by Investment Program was launched in 2013 under the regulations of the Grenada Citizenship by Investment Act. 15 of 2013, otherwise referred to as the ‘Grenada Citizenship by Investment Act, 2013.’ It is hoped that the 20% equity stake will prevent half-built projects and most industry professionals have lauded the change; many have said that the Grenadian CBI program is now in line with international standards. No need to second-guess: Grenada relies heavily upon its CBI program to drive the economy so it will do everything it can to maintain the program’s reputation. What do you want to accomplish? Fully digital process. Various eligibility factors apply, and many rules and regulations surround the CBI industry. You will not have to visit or live in Grenada for any period of time to obtain or retain your passport. Grenada is a country in the Caribbean that’s also known as the ‘Island of Spice.’ The second-largest exporter of nutmeg in the world, this country has some of the most immaculate natural environments in the world. Children, parents, grandparents, and siblings eligible. It’s also worth mentioning that Turkey and Montenegro also have the E-2 treaty, which means you could potentially opt for the CBI programs of those countries to get into the United States. Meanwhile, if you’re investing with a partner, your minimum investment drops to. It also permits parents/grandparents of any age, and children under age 30, who are not necessarily registered in … You want the best passport for you, for the best possible price. Tourism in Grenada is rapidly expanding, mainly because of foreign investment. Your email address will not be published. Coffee breaks and a relaxed attitude – island time – is something that should be accepted. Government of Grenada provides foreign wealthy individuals with the opportunity to acquire Caribbean citizenship through investment in the economy. Minister Alexandra Otway has been awarded the post of Minister of Citizenship by Investment Promotions. There are direct flights to Grenada from New York, London, Frankfurt, Miami and a few others. Visa-free access to China, giving Grenadian citizens up to 30 days in China per entry, 2. Stories of investors having a really hard time to renew their passports have been circulating online. This is due to Grenada’s low investment level, powerful passport and USA E-2 treaty. You can also be a dual citizen – there are no restrictions on that. Even though the country’s prime minister states, time and time again, that ‘Grenada is not dependent on its CBI program, the numbers tell us a whole different story. Not under sanctions, restrictions or bans on entry to the European Union, USA, the UK, and Canada, Haven’t been convicted for a crime for which the punishment is 6+ months imprisonment, Are not under current criminal investigation, All children and stepchildren under 30 years old (not necessarily enrolled in higher education), All children, regardless of age, who have a mental or physical disability, Parents or grandparents of the main applicant, 55 years or older, Unmarried siblings of the main applicant, over the age of 18 and childless. In return, it allows foreign investors obtain permanent legal citizenship and second passport within 4 to 6 months. The Grenada Citizenship-by-Investment Program was launched in August 2013 when the Grenadian parliament passed the Citizenship by Investment Act, 2013. Henley & Partners was formally mandated in 2016 by the Government of Grenada to revitalize, enhance, and relaunch the program globally. And choose wisely (or get help when doing so), because not only does the total investment amount differ, but so do the rules. There are certain conditions that people besides you must fulfill, but Grenada’s CBI program is one of the most inclusive in the world. If you do business in Russia or China often, Grenada might be a great investment saving you lots of hassle and time in the long-run. Trouble renewing passports. Applicants don’t need to be permanent residents before applying for their citizenship – saving paperwork and, most importantly, saving time. Create a legacy that lasts a few lifetimes. The country takes the first spot in the top ten Citizenship by Investment rankings of 2020. However, it’s overreliance on just a few industries means that Grenada’s CBI program is somewhat of a lifeline. Thus, having a Grenadian passport will allow you to obtain a visa to live and invest in the United States. Approved Project (Real Estate) in Grenada. P.O.BOX 298, Grenada, W.I. No. And when it comes to state affairs, no news is good news; investors love stability. Then, 2019 was a record year when the Grenadian government raised $61 million (13% more year-on-year). Save my name, email, and website in this browser for the next time I comment. That’s especially the case if you have a large and extended family that you want to tag along. When you think about it in global terms, it’s really quite a dire situation. Learn how your comment data is processed. Established in 2013, the Grenada Economic Citizenship Program is one of the fastest and most efficient citizenship by investment programs in the world. This change, combined with the new rule to keep real estate investors’ money in escrow rather than handing it over, has surely given the Grenadian CBI a boost in terms of accountability and trustworthiness, and have put investors at ease. Grenada’s E-2 visa treaty with the United States is one of the most unique things about the program. The CBI unit will take approximately 2-3 months to process your application. No country exclusions. best CBI programme, A Great Opportunity to +1 (979)966-6623 CONTACT US SERVICESPRIVACY POLICY FAQs, Copyright 2012-21, Nomad Capitalist Limited"Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks. Once the pre-check is in motion, you can move to execute a Purchase and Sale Agreement and pay the deposit, if you are investing in real estate. To date, it is the most successful development under Grenada’s Citizenship by Investment Program, having attracted more than 80 per cent of all investment applications. For years, Grenada and its sumptuous resorts have been attracting high-net-worth individuals; top-notch sailing opportunities and its crystalline shores have offered many a relaxing getaway. The Grenada citizenship by investment programme provides an opportunity to apply for a Grenada passport and a huge range of benefits including: Visa-free travel to more than 140 countries and territories. . At the same time, the program leaders have tried to steer a course towards increased revenue too; boosting the integrity and getting more investor money isn’t always a reconcilable effort. From the document submission to obtaining your passport, the entire process is fully digital. Jovana is our lead R&D Associate at Nomad Capitalist. in administration fees for the real estate investment option. The good news is that the contribution is a one-time affair; once you pay it and obtain your passport, you won’t have to worry about anything else. They will only release the funds if developers have their own money vested in the project and can show they are making actual progress with the project. People from anywhere in the world can apply, even citizens of Iran, Iraq, Afghanistan, and Syria. So, what does Grenada have that others don’t? You won’t have to pay for your investment until after you’re approved for Grenada’s citizenship. for a family of up to four members. Unmarried siblings older than 18 years of age of the main applicant and the spouse can be added too. Pass it on. Luckily, my Grenadian passport has eliminated all the back-and-forth.”. Second, Grenadian citizens have easy access to the United States via the E-2 Investor visa. Invest & Live in Paradise. All of Europe’s Schengen Area, the UK, Ireland, some Balkan countries, and some of Latin America are available to you visa-free with a Grenadian passport. Grenada is also known for being an offshore haven and for offering a citizenship by investment (CBI) program for those who want to obtain a second passport. While it used to take months for an applicant to put this huge bundle of documents together and it took Grenada even longer to process, there is now a pre-check step. The new program not only has a completely new approach, but it also has big competition. Grenada Citizenship by Investment. No matter if you’re single, a couple, or a family of four, you will have to pay. REQUEST FOR PROPOSALS FOR ACCOUNTING SERVICES. Citizenship by investment Grenada’s Citizenship by Investment Programme allows investors and their families to obtain a second citizenship in exchange for an economic contribution to the country. To keep up with the times and stay competitive, the Grenadian CBI program has undergone some reforms. The Grenada Citizenship by Investment Programme welcomes individuals and their families, to obtain citizenship in Grenada by investing in one of Grenada's most exclusive Approved Projects or by contributing to the Government National Transformation Fund (NTF). The citizenship by investment programme for Grenada is one of the newest programmes available to investors. The program stalled after the terrorist attacks of September 11, 2001, but was relaunched in 2013 with a new set of rules that streamlined the process and made it a real contender in the CBI world. The ‘rescue mission’ to rid Grenada of communism took place in 1984 and was led by the United States. We must have a programme that offers attractive benefits, without having to reduce the price.”. There is also no residency requirement, so technically, you will never have to visit the country to become and remain its citizen. Grenada’s Citizenship by Investment Programme is a fantastic way to enjoy the beautiful island of Grenada, explore new paths for your business and expand your passport portfolio. Read more about the process, download the required forms or find an agent to guide you through the application. The government has taken a unique approach: when every other Caribbean CBI lowered its prices, Grenada has actually kept its pricing the same, but added some extra incentives instead. Grenadian citizenship is for life; you will have the right to live and work in the country for as long as you want. There is no way it will compromise on security, the government has said in the past. Application is by invitation and each applicant, their family and or business partners must be approved individually by the Government of Grenada through a strict due diligence process. It also means that Grenada sits just outside of the hurricane belt; for the most part, tropical storms pass it by. It’s not as fast as it could be. But the ‘Island of Spice’ doesn’t just rely on nutmeg or the tourist dollars for its sustenance. These changes have certainly gotten the foreign investors listening; Grenada’s CBI program is more popular than ever before. You can find the full list here, though we’d also recommend giving it a quick Google, as the official website of Grenada’s CBI program doesn’t seem like it’s updated that often. The application process is straightforward and you won’t be made to jump through any unreasonable hoops. First, you’ll need to check if you’re eligible: Note that Grenada is one of the few CBI countries with no nationality restrictions, meaning that applicants of all nationalities are welcome to apply. Dependent children between 18 and 30 years of age no longer have to be enrolled in college or university to be eligible. . Grenada is also known for being an offshore haven and for offering a citizenship by investment (CBI) program for those who want to obtain a, The E-2 VISA – Access to the United States, Make a non-refundable donation to a national fund, Invest in (government-approved) real estate, Set up and run a local business, employing local people, Invest in government bonds or some sort of other financial instruments, No wealth, gift, inheritance, or capital gains taxes, and f. Grenada means business when it comes to the due diligence process. If your application is approved, you will have to pay the remaining fees, make the donation or finalize the purchase of real estate. And there is little surprise. Some more of the pros of the E-2 visa are that your spouse can freely get employed in the United States, the processing time of the visa is a short two months, and all your dependent family members can come too. The Citizenship by Investment Committee invites qualified marketing consultants to submit proposals for the provision of marketing and related services for the Grenada Citizenship by Investment program. Grenada is one of the very few nations whose citizens do not require a visa to travel to the People’s Republic of China. For a long time, Grenada has been an agriculturally-driven state, exporting nutmeg, cocoa beans, fish and wheat flour, among other products. If you do business in Russia or China often, Grenada might be a great investment saving you lots of hassle and time in the long-run. Even though the CBI program has undergone considerable change, the investment types have remained the same. You can add a spouse, children (ages 0-30), parents, and even siblings to your application. The Citizenship by Investment Committee invites qualified individuals and institutions to submit proposals for the provision of escrow agent services for the Grenada Citizenship by Investment Programme. Visa-free travel to China and Russia. It can be renewed for as many times as you’d like, as long as you maintain your ‘substantial’ investment. In fact, about one-third of all Caribbean real estate development projects ever get finished. It’s when a country’s government decides it wants to attract foreign investment by selling its citizenship. What does this small collection of islands off the coast of Venezuela have to offer? Take a look at our infographic that illustrates the numerous benefits that citizenship by investment in Grenada can bring you and your family. As a result of your investment, you will be able to obtain a Grenadian citizenship and the subsequent passport. Yes, you could certainly say that, especially since Grenada has taken significant moves to speed up the process and simplify the paperwork requirements. Each additional child adds $25,000, parents add $50,000, and siblings add $75,000 to the total bill. Whereas you can potentially recoup the real estate investment, the donation is non-refundable, for example. Nonetheless, it has a few other advantages, thanks to the recent changes. Your Grenadian citizenship will be passed on to your children and their children. For example, Grenada granted 851 passports in 2018 (21% increase) and raised $54 million (26% increase). Grenada is the only program that offers visa-free access to both China and Russia. These are mostly luxury resorts, villas, and hotels. The Citizenship by Investment Committee (the Committee) invites locally registered accounting firms to submit proposals for the provision of accounting service, The Citizenship by Investment Committee invites locally registered Civil Engineering firms/Engineers to submit proposals for construction project monitoring and evaluatio. If you do a lot of business in that country, it might make sense to go for Grenada over any other citizenship by investment. It has recently changed the law to require developers to invest 20% of its own funds into each of their projects. No language requirement and no interview. It will be $214,000 for a family of four. Got an idea of which investment route you’d like to choose? Grenada’s Citizenship-by-Investment Programme (“CIP”) offers eligible individuals and their families the opportunity to obtain full legal citizenship and passports upon making a qualifying significant investment in Grenada. 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