Is Grenadian citizenship popular?
The Grenadian passport is a highly prestigious and valued one. It gives visa free access or visa on arrival to over 140 countries, including the United Kingdom, Russia, all 26 Schengen Area Countries in Europe, China, Hong Kong, and Singapore.
Grenada also has a coveted E-2 Visa Treaty with the United States, allowing Grenadian citizens (View Program) wishing to invest to apply to live and work in the USA and obtain a green card.
With covid restrictions lifting globally, the number of applications for the Grenada Citizenship by Investment Program (CIP) increased by over 400% in Q3 of 2022, the last quarter for which data is available, compared to the average of the preceding 5 years.
Grenada Citizenship by Investement program is one of the most affordable in the world
There are a number of reasons why a second citizenship and passport from Grenada is so popular. Jean-François Harvey, Founder and Managing Partner of Harvey Law Group, a global law firm with 30 years’ experience in Immigration Law, explains that “[there] are a great many advantages to the Grenadian CIP. It is one of the most affordable in the world. The Grenadian passport if very strong. It is also the only citizenship by investment program still open to Russian citizens. But there are a number of further advantages.”
How do I get citizenship in Grenada?
It is possible to obtain Grenadian citizenship through the Grenada Citizenship by Investment Program, which is available for applicants and their families who are looking to obtain alternative citizenship and a passport by investing in an approved real estate project in Grenada. To apply, there are no language requirements, no restrictions in terms of country of origin, no educational limits, and no past work experience needs.
Family members may include a spouse, children under 30 years of age, and parents or grandparents with no age restrictions. It can also cover siblings of the applicant or wife who are over 18 years of age, single, and have no children themselves.
If successful, the program will grant citizenship for the life to the applicant, their applicable family, and for future generations. It is also important to note that Grenada allows for dual citizenship. Additionally, once you obtain Grenadian citizenship, there is no residency requirement. You can also live anywhere in Caricom or elsewhere in the world where you have residency.
How long does it take to get Grenada citizenship?
In the past processing times have been relatively quick, around 4 to 8 months, but with the massive increase in demand this may slow a little.
How much does the Grenada citizenship by investment program cost?
There are currently 3 investment possibilities: a Donation Option, a Direct Purchase Real Estate Option, and a Share Investment Real Estate Option.
The Donation Option requires a minimum contribution of USD 150,000 for a single applicant; USD 200,000 for a family of up to 4; and USD 25,000 for each additional dependent above 4.
Grenada citizenship by investment real estate
The Direct Purchase Real Estate Option requires you to acquire approved real estate with a minimum value of USD 350,000 and hold it for at least 5 years.
The Share Investment Real Estate Option requires you to purchase a share in an authorized real estate project with a minimum value of USD 220,000 and hold it for at least 5 years.
Are there Government Preapprove real estate projects?
There are Government preapproved real estate projects available. It should be noted that the Direct Purchase Real Estate and Share Investment Real Estate options are investments and should eventually return money to the applicant.
“This citizenship and investment program and the Grenadian passport are attractive to a number of groups – Indians, South Africans, Turkish and Russian nationals have in particular been applying in large numbers recently. Also, people retiring and those from many European and North American countries who are seeking to reduce their tax burden, as it is a very tax friendly tax regime,” elaborated Mr. Harvey.
Where can I find out more information?
If you would like more information on the Grenada Citizenship-by-investment program (CIP), please see. As noted above, Harvey Law Group have worked in Immigration Law for over 30 years and have more than 20 offices around the world.
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