Grenada, also known as the Island of Spice, is a true Caribbean paradise. The island country is quite famous for the calming vibes it offers. What if you come to know that it can be your second home?
It is possible to get the coveted passport of Grenada. The government of Grenada offers a fantastic opportunity to those interested in getting settled in Grenada. In this blog, we’ll walk you through the process of how to get citizenship by investment in Grenada. So, let’s get started!
Grenada citizenship by investment requirement
If you choose the path to citizenship by investment, you don’t have to be in the country, take any kind of exams or know the language to apply for citizenship. The Grenada citizenship by investment program is a government initiative designed to attract foreign investors and their families to the country. The program offers two investment options:
- The applicant has to invest a minimum of $220,000 in government-approved real estate projects in the country. Additional costs like due diligence, submission, and processing fee are the ones the applicant must bear. The locking period for the property purchased is five years after which it can be sold by the applicant.
- The applicant must make a non-refundable contribution of $150,000 to the National Transformation Fund (NTF). The investment depends upon a confluence of factors like the number of dependents on the applicant and the dependents’ age. Additional costs like due diligence, filing fee, and review fee are the ones the applicant must bear.
Who is eligible for the program?
To be eligible, you must be a foreign national having attained an age of 18 years, and you must invest as mentioned above. You must also have a clean criminal record and be able to provide proof of your net worth to show that you have the financial resources to support yourself and your family.
If you meet all the requirements, then you’re in luck! The process of applying for citizenship is relatively straightforward, and acquiring Grenada citizenship for Indian is easy. The processing time is approximately six months. It might be a little more than that.
Benefits of Grenada citizenship
Well, for starters, you will have access to all the benefits of being a Grenadian citizen. The finest one is that you become eligible to apply for an E2 visa (issued for up to five years) in the United States of America. That means the investor and his family have the right to do work or business or study there. Your Grenadian passport can even get you a B1/B2 visa for up to 10 years.
You can travel visa-free to over 146 countries, including the UK and the Schengen area. Even China allows citizens of Grenada to stay up to 30 days per year without a visa.
Another huge perk is that any kind of capital gains, wealth and inheritance, and revenue earned outside Grenada by you is not taxable. And you will be able to pass on your citizenship to your children and grandchildren.
The citizenship of Grenada offers a relaxed lifestyle and financial freedom, which can be a boon to investors having funds, to enjoy a better life and their hard-earned money.