Grenada Citizenship by Investment Program mearani 2017-01-07T11:05:11+00:00
Grenada Citizenship by Investment Program
Investment: US $350,000 (real estate) or contribution/donation of $200,000 for a family
Financing Option: None
Net Worth Requirement: None
Physical Residency: None
Citizenship: Direct citizenship, passport within 3-6 months.
Visa Free Travel:to over 135 countries, including UK, EU/Schengen etc.
Grenada is popularly known as “The Spice Island “because of the myriad locally grown spices. It offers one of the most picturesque waterfronts in all of the Caribbean. The sublime scenery is one of the many enticements to visit the three beautiful main islands. Diving, sailing, excellent restaurants,
fabulous beaches and a calendar of unforgettable festivities add to the many reasons why Grenada has become a preferred destination to many high net worth investors seeking to apply for Caribbean Citizenship Programs.
The Grenada Citizenship by Investment Program was introduced in 2013 and is one of the few immigrant investor programs of the world that offers direct citizenship, which means that applicants will not have be obligated to physically reside within the region to obtain Grenada Citizenship, and will be granted a passport within 3-6 months that offers visa-free/visa-on-arrival travel to over 135 countries, including UK and EU.
Eligible Family Members
The following family members can be included in an application under a single investment:
Children under 18 and aged 18-25 (if they are current full-time students and have been since
Parents/grandparents of Principal Applicant or spouse, over 65, if they are financially dependent on the applicant (i.e. parents do not own any property, business, funds etc.)
Citizenship can be passed down by descent, so future generations can also benefit from this investment
Real Estate Option:
Citizenship by investment at Mount Cinnamon is by way of subscription for shares in the company which owns and operates the hotel. As a shareholder, Investors will be entitled to a dividend from any hotel operating profit, as well as the right to apply for one “Main Applicant” citizenship together with citizenships for family members. Mount Cinnamon also has available for sale through the CBI program, qualifying freehold lots and homes as an alternative investment to the subscription for shares.
The investment must be minimum US$ 350,000 and must be owned and maintained for a minimum period of 4 years. Real estate closing fees are US$ 50,000 which includes property registration, processing fees and taxes to the property purchase.
NTF Donation Option:
A donation of US$ 200,000 to the National Transformation Fund (NTF) will grant Permanent Resident status to the main applicant with a family of up to four (spouse + two qualifying dependents). An extra donation of US$ 25,000 will be required for every additional dependent. Donation must be in escrow at the time of PR application but can be transferred to NTF in two installments.
The contribution under the donation option is due in two parts – USD 75,000 at the time the application is lodged, and the balance – after the applicant has made one year as a permanent resident under the program.
The initial documentation process normally takes 1-2 months depending upon client responsiveness.
After the application is submitted, the Grenada government takes about 2 months to come to a decision or ask for additional information. While the government reserves the right to request an interview with the applicant, it is rarely requested.
Once approval is issued and the applicant makes the required title transfer of real estate or donation along with the PR application. Right after which the citizenship application is submitted and a naturalization certificate is issued.
A passport application is then submitted and will be ready within 15-30 days.
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