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Second Passport. Grenada CBI Program

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The citizenship by investment program in Grenada has many advantages. You will not be obligated to live and visit this exotic country on a regular basis. And the tax system among businessmen is considered as one of the most loyal in the world. More than 2,500 foreigners have already issued a Grenadian passport for investment. Find out, if you should be one of them.

Every year the popularity of the program only grows.Here are the main features:

  • Minimal amount of money to participate in the program (only $150 000);
  • Passports for the whole family (including parents, brothers and sisters);
  • Possibility of return on investment in 5 years;
  • Possibility to issue citizenship remotely;
  • Getting second passport in 3-4 months;
  • Possibility of immigration to the United States on an e-2 investor visa;
  • 0% tax on world income donation, capital growth;
  • 140+ countries without visa, including the UK, China and the EU.

What you should know

The trial launch of the program for obtaining economic citizenship of Grenada occurred in 2001, but soon the authorities sent the project for revision. But since 2013 the Program of the island state is on the market and competes well with other offers in the Caribbean region. More than 2500 thousand foreigners have already been granted citizenship by investment and take advantage of the opportunities offered by their new passport.

Some applicants are attracted by access to an American business visa У-2б which gives you the right to work and live in the States. Others are looking into the prospect of traveling without a visa around the world. Third are hoping to reduce tax costs, since Grenada offers zero taxes on global income, capital gains abroad, gifts and inheritance. However, in this case, you must live on the island for at least 183 days a year.

The passport applicant is offered several options to choose from: you can donate to the the National Transformation Fund or invest in a government-approved real estate project. The first way is advantageous with a low entry threshold. The second is the opportunity to lease the property and receive 3-5% per annum. You can sell it after 5 years and retain citizenship.

With a Grenada passport you can travel to 140+ countries around the world without a visa, including the EU, China, Singapore, Hong Kong, and the UK. It is easier to open a business or an account in a foreign bank with Caribbean citizenship. A nice bonus of the program is that you can submit documents for a passport remotely.

The registration procedure is carried out only by an accredited agent (see the approved list) and takes from three to four (rarely six) months. There is no need to give up other passports/ Your children, grandchildren and subsequent generations retain the right to Caribbean citizenship as the investor's family.

Investment options

$ 150 000+
Non-refundable fee

Make a donation to the National Transformation Fund in the amount of $150 000 for one applicant.

State fees are also paid, when including family members:

$50,000 - for a family of 2 to 4 people
$25,000 for each subsequent family member

$ 220 000+
Real estate investments

Invest in government-approved development projects:

$220,000 - for collective investment (two or more applicants invest in the same project and become co-owners – since 2019)
$350,000 - for individual purchases
The property can be used independently or rented out. After 5 years of ownership, assets can be sold.

In addition, each investor pays a state fee:

$50,000 - for a family of 1 to 4 people
$25,000 for each subsequent family member

Please note!

Donations to the National Transformation Fund is the most popular option. You don’t have to care about the situation on the realty market and the required amount is smaller. In addition, the entry threshold is formally $350 000 for individual investors, but in reality you can barely find offers cheaper than $450,000. Buying an apartment or a villa is suitable primarily for those who want to spend vacations in their residence on the island.

Terms for family members

Grenada offers an extended immigration program. Besides children and wife/husband the investor has the right to include parents, grandparents, single brothers and sisters.

Spouse With an official documented marriage.
Children No older than 30 years, dependent on the investor. Children born within 12 months of receiving a Grenada passport also receive citizenship without additional fees.
Parents and grandparents Any age.
Brothers/sisters Childless adult siblings of the investor and his/her spouse, if they are dependent on the investor and aren't married.

Requirements for applicants

There are no language, historical or cultural knowledge requirements to participate in the program. You don't even need to pass a consular interview. The most important thing is to be a law-abiding and trustworthy citizen with legal savings.

Requirements for the main applicant:

  • over 18 years old
  • no criminal record
  • passed the preliminary verification by the agent for reliability
  • confirmed the origin of finance
  • good health (does not suffer from HIV and other dangerous diseases for society)
  • there are no violations of visa regimes in the EU, British Commonwealth, Canada, USA

The authorities of the Caribbean state can refuse a passport if false information is provided, as well as if the investor poses a threat to the national security of Grenada or any other country.

Documents

All documents are submitted with an English translation and apostille stamp.

Personal documents:

  • a copy of the foreign passport and ID
  • certificate of non-criminal record
  • health certificate (absence of HIV and other dangerous infectious diseases)
  • application form completed in accordance with the other documents
  • birth / adoption certificate, marriage certificate
  • 12 color photos of each applicant
  • document confirming the permanent residence address — for example, a receipt for housing and utilities or a copy of the housing lease agreement (only for the main applicant)
  • documents of higher education and work experience (applies only to the investor and his / her spouse)
  • recommendation letter in English

Investment confirmation:

  • documents to confirm the legal origin of funds
  • the bank statement
  • purchase and sale agreement (in the case of real estate investments)

Additional cost

1.Verification of trustworthiness

The fee for all applicants over the age of 17 is $5000 per person, and $2000 per child.

2. Administrative fee

Registration of the application: for all applicants over the age of 17 —$1500 per person, for a child - $500
The fee for forms and processing of documents is $1270 per person.
Opening an escrow account — $2000.

3. Attorney's fee

The fee of an accredited agent for supporting the procedure of obtaining citizenship is $15-50 000, depending on the family composition and the prices of a particular company.

Rights and obligations

Foreigners with investment citizenship have the same rights as any other resident of Grenada. The investor and his/her family also have all rights related to Grenada's membership in the Caribbean community (CARICOM).

  • Live, work and start a business in Grenada and the CARICOM member countries.
  • The right to travel without a visa to 140+ countries, including the EU, China, Singapore, Hong Kong, and the UK.
  • The right to live in Grenada without time restrictions. There are no requirements for a minimum stay in the country.
  • The right to quickly (within 60 days) get a visa to the United States under the e-2 program (Treaty Investor Visa) for 10 years with the right to live, study and work in the States. This option is only available to countries that have signed a bilateral agreement with America. Russians and Belarusians do not have this right.
  • The obligation to pay taxes regularly if you spend more than 183 days a year in Grenada. There are no requirements for mandatory change of tax residence to a Grenadian one.
  • Obligation to maintain investment in real estate for 5 years.
  • Free school tuition for children, grants and discounts at universities in Grenada and the United Kingdom due to the fact that Grenada is a member of the British Commonwealth.
  • The right to citizenship in other countries.
  • The right to transfer citizenship by inheritance.
  • The right to issue a local driver's license.

Quoting conditions of Prian materials

Tags: Grenada, Residence permit and citizenship, Immigration, Investment

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