How To Move To The Caribbean - Grenada Citizenship By Investment Program
How to get Grenada Citizenship? If you're planning to move to the Caribbean Island of Grenada, you will need to know how the Grenada Citizenship by Investment Program works.
What documents are required, how much are the fees and which one of the two options, the National Transformation Fund or the Real Estate Option is suited to you.
A view of St George's harbour Grenada. St George's is the capital of Grenada
GRENADA - The Spice Isle of the Caribbean
The three islands of Grenada, Carriacou and Petite Martinique are located in the eastern Caribbean, south of the Winward Islands and 100 miles north of Venezuela. Neighboring islands St. Vincent and the Grenadines lie to the north and Trinidad and Tobago lie to the South.
You can find the perfect balance of adventure, idyllic beaches and romance in Grenada. On this picturesque island, you can go for a swim in the morning at the famous Grand Anse Beach or trek through the rainforests, or visit the Seven Sisters Waterfalls.
The English-speaking nation has some of the friendliest people in the Caribbean, making it very easy to encounter all aspects of Grenada's vibrant culture and hospitality.
Known as the spice islands, Grenada is also home to one of the biggest medical school in the region. The St. George’s University School of Medicine opened it doors to students in Grenada in 1977.
According to the school's website, the university has produced over 14,000 physicians who have gone on to practice in all 50 US states and more than 50 countries worldwide."
HOW TO TRAVEL TO GRENADA
Grenada is quite accessible. In fact, you can get to the island from these major international cities New York, Miami, Atlanta, Frankfurt, Toronto, London, Caracas as well as the Caribbean itself.
International airline which have flight to Grenada include JetBlue Airways, American Airlines, Delta Air Lines, British Airways, Virgin Atlantic, Caribbean Airlines, Air Canada and Condor, which operates a non-stop weekly flight from Frankfurt Germany to Grenada during the winter season.
International flights touch down at the Maurice Bishop International Airport. If, however, you want to reach it sister isles of Carriacou, then you have to take a short trip by inter-island charter to Lauriston Airport.
ECONOMIC CITIZENSHIP
There are many reasons to get a second passport. For example, when circumstances in your own country can:
• make obtaining travel visas difficult,
• affect your freedom to work,
• affect your ability to purchase real estate,
• limit investments opportunities,
• subject you to punitive tax burdens or currency controls, or
• your current passport makes you a target for hostile groups when traveling abroad, a second passport can provide peace of mind in a sea of insecurity.
• You can also get a second passport because you just love living in another country. In this case, Grenada.
Grenada's Citizenship by Investment Programme was launched in August 2013, when the Grenadian Parliament passed Act No. 15 of 2013, otherwise referred to as: the Grenada Citizenship by Investment Act, 2013.
The stated objective of the Act is to enable persons to acquire permanent residence and citizenship of Grenada by registration following investment in Grenada.
The mission of the Citizenship by Investment Program is to strengthen Grenada by creating economic growth through inward investment.
This, it is hoped, leads to the creation of sustainable new employment opportunities for Grenadians, training of the workforce and the broadening of skills.
All this while preserving the prestige, honor and value of Grenadian citizenship through a strict invitation and vetting process.
Presently, there are two programs available to qualify for Citizenship by Investment: either through a contribution to the National Transformation Fund (N.T.F) or by acquiring government-approved real estate.
Both programs offer lifetime citizenship, which can also be passed on to descendants, as well as access to extensive visa-free travel..
Breathtaking beach view in Grenada.
VISA FREE TRAVEL WITH A GRENADA PASSPORT
A Grenada passport allows visa free travel to more than 115 countries, including all European Union countries, the United Kingdom, Ireland, the Caribbean and Commonwealth Nations.
AMERICAS
Anguilla, Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Bermuda, Brazil, British Virgin Islands, Cayman Islands, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, Guadeloupe, Guyana, Haiti, Jamaica.
Martinique, Mexico ( (if holder of US visa), Montserrat, Netherlands Antilles (Aruba, Bonaire, Curacao, Saba, St Eustatius, and St Maarten), Panama, Peru, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, Uraguay and Venezuela.
AFRICA
Botswana, The Gambia, Ghana, Kenya, Lesotho, Malawi, Mauritius, Namibia, Rwanda, Swaziland, Seychelles, Tanzania, Uganda, Zambia and Zimbabwe.
ASIA
Bangladesh, Brunei Darussalam, China, Hong Kong, Israel, Korea, The Republic of (South), Macau, Malaysia, The Maldives, Philippines, Singapore and Sri Lanka.
EUROPE
Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Holy See (Vatican), Hungary, Iceland, Ireland, Italy, Kosovo, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and United Kingdom of Great Britain & Northern Ireland.
OCEANIA
Fiji Islands, Kiribati, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Pitcairn Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
*The countries on the list above is for general information only, and may change at any time. Be sure to check with the embassy before making any travel plans.
Check out these other Citizenship and Second Passport options.
▸ The 5 Best Second Passport Islands In The Caribbean
▸ Important Facts And Benefits Of A Vanuatu Second Passport
▸ Is St Kitts And Nevis Citizenship By Investment Program The Best?
▸ How To Get A Panama Residency Visa and Residence Permit
▸ Why Panamanian Residency Is Easier Than Most Other Countries
TWO OPTIONS FOR CITIZENSHIP
1. NATIONAL TRANSFORMATION FUND
The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada's economy into one that is more prosperous and independent.
The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy. Having made a donation to the NTF, investors are left with a true sense of having contributed to their new nation's well-being.
In order to qualify for the Citizenship by Investment Program, the investor makes a designated, non refundable, per-person NTF charitable donation.
A benefit of donating to NTF is the lack of hassles associated with owning vacation real estate. However, the NTF program is a non-refundable contribution; the option to purchase real estate via the Citizenship by Investment program may offer a partial return on investment, or perhaps a healthy ROI, with few limitations.
Process of obtaining the citizenship of Grenada though investment in the NTF
1. The investor signs the NTL agreement, fills in all application forms and transfers all funds to the NTL escrow account.
2. The application is submitted to the CBI committee with the proof of funds transferred.
3. The due diligence process starts and usually takes 60 days.4. Onceduediligencechecksarecomplet- ed; approval from the CBI committee is received.
5. The committee procures the Certificate of Citizenship and a passport(s), and passes it to the local agent.
6. The documents are issued and sent to the investor via a reputable courier service.
*Professional fees for citizenship processing are payable for all applications and will vary depending on the number of dependents and application complexity.
Please contact us for more information and for assistance with your Grenada Citizenship By Investment Program application.
2. REAL ESTATE OPTION
Tourism is a fuel for the county's economy, and in a move to increase tourism related development, the Citizenship by Investment program allows for real estate purchase in approved developments.
To qualify, the investor (or investors) must enter into contract to purchase real estate worth US$ 350,000 or more. Once the purchase contract has been signed and the full amount of investment has been transferred to an escrow account controlled by an on-island attorney, the investor may apply for citizenship.
Once citizenship has been accepted, the investor receives the passport, citizenship certificate and shares certificate. The only stipulation is that the property may not be sold within four years or citizenship can be revoked.
Process of obtaining the citizenshipof Grenada through real estate investment
1. The Investor enters into Real Estate Purchase/Sale Agreement with the approved real estate development and the NTL agreement.
2. The investor transfer full investment amount and associated fees to an es- crow account controlled by an on-is- land attorney.
3. The applications and required docu- ments are submitted.
4. Government approval received, fol- lowed by the issue of CBI naturaliza- tion certificate.
5. Passport application submitted and passport distributed.
INVESTMENT AMOUNT
Family of 4 with 2 children under 12
Family of 4 with 2 children under 12
REAL ESTATE |
US$ 350,000 |
| GOVERNMENT FEE FOR FAMILY OF 4 | US$ 50,000 |
DUE DILIGENCE |
US$ 5,000 |
DUE DILIGENCE |
US$ 5,000 |
APPLICANT FOR FAMILY |
US$ 6,000 |
LOCAL AGENT FEE FOR FAMILY |
US$ 13,000 |
| PROCESSING INVESTOR | US$ 1,500 |
| PROCESSING SPOUSE | US$ 1,500 |
| PROCESSING CHILDEREN UNDER 12 | US$ 1,000 (US$ 500 per person) |
| PASSPORT FEE | US$ 1,000 (US$ 250 per person) |
VAT |
US$ 1,950 |
Total Investment |
US$435,950* |
*Professional fees for citizenship processing are required for all applications and will vary depending on the number of dependents and application complexity.
THE LIST OF DOCUMENTS REQUIRED TO APPLY FOR THE CITIZENSHIP OF GRENADA
A. APPLICATION PACKAGE FORMS
1.Annex 1 – Registration of Electronic Signature;
2.Annex 2 – Family Members;
3.Annex 3 – Application Form;
4.Annex 3 Supplement – Particulars related to applicants;
5.Annex 4 – Privacy and Information Release Form;
6.Annex 5 – Criminal Record Verification Form;
7.Annex 6 – Birth or Adoption Records;
8.Annex 7 – Verification of Support of Dependants over the age of 11;
9.Annex 8 – Medical Health Certification;
10.Annex 9 – Statement of Source of Funds;
11.Education History/Employment History;
12.Application Checklist – Schedule II Form 1;
13.Know Your Client Form;
14.Application for a Grenadian Passport Form.
B. APPLICANT (S) DOCUMENTS:
15.Ten (10) current passport size photographs in colour per applicant. Passport pictures MUST be in colour. Applicant’s ears MUST be visible and the forehead and hair must NOT be covered. Pictures must be recent;
16.Color copy of ALL passports possessed (first 3 and last 3 pages of each);
17.Color copy of ALL current national identity cards;
18.Certified copy of marriage and divorce certificates (if applicable);
19.Original professional reference:
a)It MUST be current and in any case not older than six (6) months.
b)It MUST appear on the official letter head of the professional, bank or firm.
c)It is to be addressed to: CHIEF EXECUTIVE OFFICER, GRE-NADA CITIZENSHIP BY INVESTMENT, P. O. BOX 298, BURNS POINT, THE CARENAGE, ST. GEORGE'S, GRENADA, W. I.
20.Original Bank Reference (same requirements explained for professional reference apply);
21.Resume or CV – To go along with the Education History and Employment History. Applicants MUST disclose all business affiliations.
22.Affidavits (as Supplement to Annex 7):
i. In support of each dependent over the age of 18 except the spouse; and/or
ii.In support of Dependent-Parent or Dependent-Child, as applicable.
23.Certified college or university transcripts for children at least 18 years and less than 26 years (if applicable);
24.Original Police Certificate or Criminal Records Verification (Annex 5):
a)Police Certificates MUST be provided for ALL applicants and family members except in the case of dependents who are under the age of sixteen (16);
b)Police certificates MUST be less than 6 months old.
25.Original or certified Birth Certificate or Adoption Records (Annex 6):
a)MUST submit documents to support any change of name;
b)Affidavit of Support of Dependent-Children – Annex 7 Supplement;
26.Medical Health Certification (Annex 8):
a) Submit HIV test results;
27. Statement of Source of Funds (Annex 9):
a) Proof of source is required. This may include bank statements, pay slips, job letters, company certificates and incorporation documents to support business activ- ities from which source is generated, business assets, real estate holdings or proof of dispositions of same etc.
Please ensure that these documents are originals or certified copies certified;
28. Proof of Address – Original document proving applicant’s residential address, such as utility bill, bank statement, or written confirmation from a bank, an attor- ney, a chartered accountant or notary public confirming applicant’s address.
NOTE: The list is not exhaustive and other documents may have to be provided by the applicants, depending on their particular situation. These documents may include company incorporation and good standing certifications, ownership or title documents in support of SOF explanations, or any other type of document in support of the applicant's statements made on the application forms.
Please contact us for more information and for assistance with your Grenada Citizenship By Investment Program application.
If You Love This Pin It⬇
