Second, citizenship can unlock a world of benefits. It can provide you and your family access to more than 140 countries, including the USA, EU Schengen countries, China, Russia, Singapore, etc.
Grenada offers a fast pathway to citizenship through its Citizenship by Investment Program. It is one of the most reputable CBI programs in the world.
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Legality
Obtaining second citizenship in Grenada is not illegal as long as you do it properly and follow the laws. You should check with your attorney to ensure that the country you want to gain citizenship allows you to hold a second one.
It would help if you also observed the rules of your citizenship, which means not holding public service posts or working for the prosecutor’s office. There may be limitations on your ability to own land or property in the country you are a citizen of. You must not work for government employers or receive state secrets from the government or the secret service.
The program offers a fast and cost-effective route to obtaining a second citizenship. In addition, the program does not charge tax on your worldwide income and can be completed in less than three months.
In addition, Grenada investment citizenship is an excellent option for families seeking a second passport. Applicants can include their parents and dependent siblings in the program if they meet the citizenship requirements.
The program costs between US$54,000 and $56,000, depending on your nationality. In addition, the applicant must cover a government application fee and a due diligence fee. This is a very reasonable amount of money, especially for families. Moreover, the program offers a variety of benefits to you and your family members, such as visa-free travel to 131 countries, a strong tourism industry, and a booming trade climate.
Requirements
In the Commonwealth Caribbean, Grenada is a world producer of nutmeg and mace. The island is known for its tropical forests, mountains, waterfalls, and golden beaches. It is a reputable offshore jurisdiction that attracts international investors every year.
If you’re a citizen of the United Kingdom, it is easy to obtain second citizenship in Grenada through an economic citizenship program. It takes two to three months to process the application and get your second passport.
The first step is to find a licensed agent in Grenada. The agency will prepare and apply to the island’s government. It also conducts due diligence and assists with the translation and notarization of documents.
Second citizenship in Grenada offers visa-free access to 146 countries, which makes it easier for you to travel to your favorite destinations. It also enables you to live in a country that is a member of the CARICOM and OECS.
It is important to note that Grenada is a stable country with a Westminster Parliamentary governance. This means that the government is regulated by checks and balances, making it an ideal option for those who want to protect their financial assets.
If you’re interested in obtaining a second passport in Grenada, you can invest in the government’s National Transformation Fund or purchase pre-approved real estate. Either way, you’ll need to pay a one-time contribution to the government.
Documents
Grenada is one of the best options available if you are interested in obtaining a second citizenship. Its economic citizenship program is among the most efficient and fast in the world, and it offers a host of benefits for investors and their families.
The program also sets itself apart by allowing entire families to become citizens in one application. This unique feature of Grenada’s citizenship by investment program makes it an ideal choice for couples and families with dependent children.
Applicants and their dependents need to have a clean criminal background, the necessary net worth to invest in Grenada, and no visa rejections from any country that the Grenada passport offers visa-free access. A stringent due diligence process for anyone over 16 accompanies these requirements.
When applying for citizenship in Grenada, there are two investment options: a donation to the National Transformation Fund starting at $150,000 or an independent real estate purchase. Those who opt for real estate are required to either buy and hold or generate rental income for at least five years following the grant of citizenship.
The process is easy; the only documents needed are the official application forms and Declarations of Guarantor. The entire process is 100% digital and takes approximately four months.
Costs
There are no upfront costs associated with obtaining a second citizenship in Grenada. The only price is the investment in or donation to the country’s National Transformation Fund, a non-refundable contribution to the nation’s economy.
Citizenship in Grenada offers visa-free travel to Europe and over 140 countries, including China, Russia, Singapore, and the United States. It is also a tax-optimization tool since there are no taxes on foreign income, capital gains, gifts, or inheritance taxes.
To apply, the primary applicant (you or your spouse) must pay a one-time investment of $150,000 in Grenada’s National Transformation Fund or real estate investment in a government-approved project. The principal applicant can then include their spouse, dependent children, or parents as secondary applicants.
The processing time for a primary application can be as short as three months. However, this can vary based on the number of supporting documents submitted with the application.
To ensure the integrity and security of the citizenship program, Grenada employs a ten-person CBI Committee that answers directly to the country’s Prime Minister and assesses each application. The Committee has a wealth of experience and knowledge. It works alongside the country’s authorized international marketing agents, legal advisers, and local agents to help applicants become Grenada economic citizens.
As with all citizenship-by-investment programs, several requirements and documents must be fulfilled to qualify for citizenship in Grenada. For example, all family members must have a medical check-up and undergo a criminal background investigation.
Also Read: Citizenship by Investment: Your Quick Way to Safety and Mobility
