Grenada Citizenship by investment

The Citizenship by Investment Program of Grenada allows the investors from various lands to invest with their families to obtain second citizenship in exchange for an economic contribution to their Nation. Successful applicants enjoy travel visa-free to over 120 countries worldwide. These countries include the United Kingdom (UK), the European Union (EU), China, Brazil, Hong Kong, and Singapore.

The country is independent since 1974. Grenada also is a member of the Commonwealth of Nations, the United Nations (UN), the Caribbean Community (CARICOM), the Organization of Eastern Caribbean States (OECS), and the Organization of American States (OAS). It has a democratic parliamentary governmental system, and is politically, socially, and economically stable.

The Grenadian system of education is modeled on the British educational system, and the population of the country is highly educated. St George’s University, located in the nation’s capital city, is one of the best offshore universities in the world. It offers courses in medicine and veterinary science and welcomes over 6,000 students every year. Read the complete details about this program here at Procitizenship.

W

hat does make Grenada unique?

Grenada is a Caribbean country, which is calm and comprises of three main islands: Grenada, Carriacou, and Petite Martinique. It is also known as the ‘Spice Island of the Caribbean,’ and is a colorful nation with a wonderful culture, tropical scenery and welcoming people. Besides, sandy blue-green beaches, spectacular waterfalls, and abundant spices, the country offers a high standard of living, with festive and sports events throughout the year. The islands Carriacou, and Petite Martinique are located in the south-eastern Caribbean Sea, near Trinidad & Tobago. They are part of the Windward Islands, in the Lesser Antilles. Grenada’s airport makes it easily accessible from London, Toronto, New York, and Miami. It’s a wonderful place to invest or to spend the rest of your life with your family!

T

he benefits of possessing a Grenada citizenship for South Africans

There are various benefits of possessing a Grenada citizenship for South Africans like:

•  Full citizenship status
•  No requirement to visit the country before, during, or after the application process
•  No interview requirement
•  No English language requirement
•  Minimal processing fees
•  Fast processing time
•  All nationalities are eligible
•  Dual citizenship is allowed
•  Discretion
•  Social and political security
•  Visa-free travel to over 120 countries (including the UK, the EU, and China)
•  No capital gains, gift, foreign income, and inheritance tax
•  Excellent education benefits for children
•  The right to apply for a US E-2 Visa as a citizen of a qualifying treaty country

S

outh Africa Vs Grenada

HEALTH

• LIVE 10.7 YEARS LONGER
  In South Africa, the average life expectancy is 64 years while in Grenada, that number is 74 years.
• BE 24.7% LESS LIKELY TO BE OBESE
  In South Africa, 28.3% of adults are obese and in Grenada, that number is 21.3% of people.

ECONOMY

• MAKE 10.4% MORE MONEY
  South Africa has a GDP/capita of $13,500, while in Grenada; the GDP/capita is $14,900.
• BE 13.0% LESS LIKELY TO BE UNEMPLOYED
  In South Africa, 27.6% of adults are unemployed while in Grenada, that number is just 24.0%.

LIFE

• BE 80.4% LESS LIKELY TO DIE DURING CHILDBIRTH
  In South Africa, approximately 138.0 women per 100,000 births die during labor and in Grenada, only 27.0 women do.
• BE 68.7% LESS LIKELY TO DIE DURING INFANCY
  In South Africa, 31.0 children die before they reach the age of one & in Grenada, just 9.7 children do.

EXPENDITURES

• SPEND 30.7% LESS ON HEALTHCARE
  South Africa spends 8.8% of its total GDP on healthcare while Grenada spends 6.1% of GDP on it.

T

he Prerequisites for a Grenada Citizenship application

Applicants for the Grenada Citizenship by Investment Program must fulfill the following conditions:

• Be at least 18 years old
• Be of good character
• Have no criminal record
• Pass a detailed background check
• Be able to provide proof of the source of funds
• Be healthy

Investment options in Grenada

Investors and their families might become citizens of Grenada through its Citizenship by Investment Program by selecting one of the following two options:

• By making a one-time contribution to the National Transformation Fund or (NTF)
• By investing in pre-approved real estate

The NTF option is the most popular alternative for Grenada’s citizenship by investment. It was established in the year 2013; the National Transformation Fund raises capital to assist the Government in financing development projects to benefit the country & people of Grenada. The minimum required contribution under the NTF option is 150,000USD.

Investment in Pre-approved Real Estate : The pre-approved real estate option requires applicants to purchase property and to maintain ownership for at least 3 years. The minimum required investment under the pre-approved real estate option is US$350,000.

S

tep by step successful application process

Initial due diligence

Sign client agreement and provide supporting documentation.

1 MONTH

Reservation

Sign a reservation form and submit a deposit of 22,000USD against the investment of 220,000USD to secure your interest in the real estate option for the CBI Program.

2-3 MONTH

Document Submission

Collect the required documents. Legal fees, due diligence fees, application fees, and processing fees must be paid along with the application.

Application Processing

Application processing takes approximately 90 days. Upon approval of the application the investor will pay within 7 days, the remaining balance of 198,000USD; government fees of 50,000USD for the main applicant and up to 3 dependents, share registration fees and other miscellaneous fees.

MONTHS 4-6

Document Submission

Proof of ownership will be submitted to the government, and the CBI unit will issue the Certificates of Citizenship and Passports.

1. What’s the official language of Grenada?

The official languages are English, Grenadian Creole (English & French)

2. Does Grenada allow me to keep my original citizenship?

Grenada will allow you to keep your original citizenship as the country has a provision for dual citizenship.

3. Will my citizenship expire?

No, when you acquire citizenship under a Grenada citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent.

4. Do I have to pay tax in Grenada?

Residents of Grenada benefit from no capital gains tax or estate taxes. The income taxes are progressive, ranging from 10% to 25% on taxable income. The citizens are not taxed on their worldwide income but only on income sourced within Grenada.

5. What currency do they use in Grenada?

The currency used here is Eastern Caribbean Dollar.

6. What is the restricted country list?

Grenada does not restrict citizens of any countries or territories.

7. How long will my citizenship be valid?

The citizenship under a Grenada citizenship program is for a life time, under which you and your family enjoy full citizenship for life. It can be passed on to future generations by descent.

8. Can I Visit Schengen countries with a Grenada Passport?

Yes, holders of a passport issued by a Grenada enjoy visa free travel for up to 90 days to many countries, including the EU, specifically the Schengen area.

9. Can my family be included in my application?

Yes, one may apply for citizenship with their wife or husband, dependent children, and dependent parents. Fees for family members vary according to the number of members included in the application.

10. Is the main applicant required to stay in Grenada for a minimum period once the passport has been issued?

No, the main applicant is required to stay in Grenada for a minimum period once the passport has been issued

11. Is taking Oath required?

Yes, Oath taking is required.

12. Which Personal Documents are required?

• The Personal Documents required are for all the applicants are-
  Internal passport.
• Birth certificate.
• Passport/travel document.
• Citizenship / residence permit / permanent residence of another country (for all applicants) – if
  applicable.
• Military service card (adult applicants) – if applicable.
• Pension certificate (adult applicants) – if applicable.
• No criminal record Certificate from the county of residence issued less than 6 months before
  the filing date (applicants over age of 16).
• Education certificates (applicants who have certificates) – if applicable.
• Medical Health Certification Form 4, state form (all applicants).
• HIV/AIDS test results issued less than 3 months before the filing date (applicants over 12 years).
• Biometric data (all applicants over 16).
• Driving license (all applicants who have a driver’s license).
• 20 color photos 3.5 x 4.5cm (all applicants).
• Marriage certificate/divorce certificate – if applicable.
• Documents confirming the change of surname or name – if applicable.
• A utility bill obtained less than 3 months before filing date (which contains the address, name, surname of main investor (evidence of residential address)).
• Reference letters from the bank you cooperate with for more than 2 years, issued less than 3
  months before filing date, with bank contact details.
• Bank statement from personal bank account of the investor for the period of 12 months,
  Which reflects the movement of funds on the account. It is acceptable to provide financial
  reports from several banks (for the main applicant).
• Reference letters from the employer/business partners issued less than 6 months before the
  filing date. It is obligatory to submit professional recommendations from lawyers, auditors,
  accountants. The letter should indicate in which type of activity the adviser (for the main
  investor) is engaged.
• Registration documents of the company or business that confirm a source of funds for
  investment. If an applicant owns a business – license/certificate of their entrepreneurial activity,
  registration documents and the recent audited financial statement.
• Certificate of employment for all working applicants. Enclosure of several letters is acceptable.
• CV (main applicant).
• Authorization for the issuance of a passport to a minor child from the biological father/mother
  (if applicable).