Obtaining permanent residence in Grenada. Benefits of Grenada Citizenship
Grenada is a country located on two islands in the Caribbean. Until 1974, the country was a British colony, after which it gained independence. It is currently part of the Commonwealth of Nations. It is a full member of the UN. The government is making every possible effort to attract additional investment to the country's economy. For this, a program was opened to grant the country citizenship in exchange for financial investments.
Obtaining citizenship of Grenada by investment
There are two programs under which the government of Grenada issues a passport to a foreigner in exchange for investing in the country's economy.
1. Charitable contribution to the National Transformation Fund. The minimum deposit amount is $150,000.
2. Buying a property with a minimum value of $220,000.
The amount of the charitable contribution depends on the number of family members of the investor. $150,000 is the amount for a single investor who does not have a family, or for whose family members' citizenship is not provided. If the family wants to get permanent residence in Grenada, then the amount increases to $ 200,000. A family may include:
• married couple (2 people);
• 4 people — parents and two children;
• family with 5 or more members.
Each of the family members must be financially dependent on the main investor. That is, he did not have his own business and did not work. In this case, the amounts of additional contributions are:
• $25,000 for each investor parent aged 55 and over;
• $25,000 for each child who is the fifth or more among other family members;
• $50,000 for each parent under the age of 55;
• $75,000 for each brother or sister of the investor.
Before investing such a large amount, the procedure provides for due diligence of the investor and the origin of his finances. The procedure is paid for by the investor. The corresponding amounts are:
• $5000 for one investor without a family;
• $10,000 for a married couple without children;
• $5,000 directly for the investor and the same amount for each family member over the age of 17.
Also, paperwork, the inclusion of the investor in the list of potential citizens of Grenada, and other related procedures are paid for by the investor. This is considered a consular fee. The corresponding amounts are:
• $3270 for an investor without a family;
• $6540 for a married couple without children;
• $11,080 for a family with no more than four members;
• $15620 for a family with five or more members.
In the last two cases, the amount of payment may be higher, depending on the scope of the check and legal nuances.
Buying a property
A foreigner has the right to buy property approved by the government of Grenada. At the same time, it can be sold at least 5 years later. In this case, the amounts spent will be:
• The minimum property price is $220,000 for any family, regardless of the number of its members, as well as for a single investor.
• The state fee is $50,000. In this case, it will be necessary to pay an additional $ 25,000 for each parent whose age is over 55 years old, or for each child under the age of 17 years. For each parent under the age of 55, you need to pay an additional $50,000, and for each brother or sister of the investor — $75,000.
• Due diligence — $5,000 for a single investor, $10,000 for a family of two. Than $5,000 for each family member aged 17 and over.
• Consular fee — $ 3270 for a single investor, $ 6540 for a married couple consisting of two people. For a family of 4 people — $11,080, for a family with 5 or more members — $15,620.
Benefits of Grenada Citizenship
The term for obtaining a Grenada passport is 3-4 months from the date of submission of documents. After receiving it, a newly-made citizen can enjoy the following advantages of a new passport:
• Visa-free entry to 144 states, including China (for 30 days), Hong Kong, Singapore, countries that have signed the Schengen Agreement, and the UK.
• Business visa to the USA. Citizens of Grenada can set up or buy a business in the US with a minimum value of $100,000.
• Tourist visa to the USA for 10 years.
• Possibility to register foreign companies in Grenada. This makes it possible to reduce the tax burden on the enterprise.
How to apply for citizenship in Grenada
Applying for Grenada citizenship is easy. To do this, you need to collect a package of documents about yourself, your family members, your existing business, and your financial condition. It is important that the potential citizen is 18 years of age or older, has no health problems, and has no problems with the law in the country of which he is a citizen at the time of application. Next, you need to seek legal advice from the company, whose employees will perform all the necessary procedures. The applicant will have to wait 3-4 months until all legal processes are settled.
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