Grenada CBI Program witnesses a huge demand among investors
Grenada is a Caribbean Island located in West Indies. It is a land of nature with clear skies and transparent turquoise beaches. Basically, Grenada CBI Program was initiated in 2013 and since then, many investors are successfully making their way to this magnificent land. In addition, Grenada recognizes dual citizenship. Similarly, It means applicants do not need to abandon their current citizenship. Dual citizenship gives applicants an opportunity to enjoy the benefits of living & working in two different regions.
However, In the first half of 2020, 161 applicants accompanied by 328 dependents got their citizenship through investment for Grenada. In comparison to the first half of 2019, the number of applications is 34% greater this year. This year goes really well unexpectedly for the Grenada CBI Program regardless of the severe conditions because of COVID’19. If the number of applicants becomes consistent in these remaining months as well, Grenada can see a great economic boost by the end of this year.
Just like some other major citizenship & residency programs, Grenada CBI Program introduces some new changes regarding dependents as well. Although, These changes were really helpful to grab investor’s attention towards this program. They also restricted the physically submitted applications and make a shift to online application submission to make it easier for people. During the pandemic, investors find it super easy to submit their applications online and being able to stay connected to the authorities without any physical visit.
Why choose Grenada CBI Program?
- This is one of the fastest processing track of four months.
- Children under 30 and mentally & physically challenged children are considered as dependents.
- One sibling under 18 years of age and unmarried will be considered as dependent on the main applicant.
- There is no residency requirement to avail of Grenada citizenship.
- Parents who are financially supported by the main applicant are also included as dependents.
- There’s no requirement for applicants to travel to Grenada during the application process.
- The main applicant has no such restrictions on any interview or experience requirement.
- Visa-free access to 125+ counties including the Schengen region and Europe.
- After the E-2 Visa Treaty is done between the US and Grenada, Now citizens of Grenada can reside and operate a business in the US on terms & conditions.
- Grenada CBI Program offers huge relief on Taxation on worldwide income.
- Visa-free travel to over 125 countries, including Europe’s Schengen zone.
Why Investors are inclined towards getting Grenada Citizenship?
Basically, Grenada is the only Caribbean country that is under the E-2 treaty with the United States which allows citizens of Grenada to live and establish a business in the United States in exchange for an ample investment of approximately US $ 250,000. The spouse of the main applicant and children under 21 can also become part of the application to relocate to the United States.
Furthermore, This is one of the major reasons for investors to have an attraction towards getting citizenship of Grenada. Living and working in the United States of America can be a dream of anyone. This is a once-in-a-lifetime opportunity because some biggest countries like China, Russia, India, and other countries in Gulf Region do not have this E-2 treaty with the US and they are unable to enjoy the benefits that come with this treaty.
Investment Options to attain Grenada Citizenship by Investment
Grenada offers two options for investors who want to become citizens of Grenada and options are as follows:
REAL ESTATE INVESTMENT
Meanwhile, Under this option, the main applicant must possess a high net worth in their current country. The main applicant requires investing $ 220,000 in the real estate of Grenada which means making a purchase of a property with the respective amount. The investment amount needs to maintain for 5 years at least. After five years, investors are free to sell this property. This is the minimum amount for real estate investment and it keeps increasing according to investor’s requirements.
An alternate option to become a citizen of Grenada is to make a donation of $150,000 to the government fund for the betterment of the country. This donation amount is nonrefundable. In regard to dependents, the donation amount will be increased accordingly per dependent. This donation amount goes to the National Transformation Fund of Grenada which uses the amount to grow the country’s economy by spending more money on tourism, agriculture, and alternate energy.
- Grenada’s donation amount for the family of two: $ 200,000
- The donation amount for a family of four (Spouse + Children under 30): $ 200,000
- Donation amount for a family of 5 or more: $ 25,000 additional per dependent.
A Step by step processing guide
- Get in touch with Saad Ahsan Immigration Law Firm to get the best consultancy services. Visit our office to get complete guidance from our consultant on how to start the application process.
- Explore your options with consultants. Consultant will help you find the best real estate investment options keeping your budget in mind. If the applicant is interested in a donation option, our consultant will guide you about the pros & cons of both options.
- Compile your documents, attest them if require, our consultant will also help you in collecting the right documents, and connect you to the right people for verification and attestation of the documents.
- Now it’s time to submit your application. Once the documents are all set in your hands, submit the application with the support of our consultant. The complete application file submission will happen with the help of an authorized immigration agent as per law.
- The submitted application will be verified by the government of Grenada with all the required due diligence tests. Their authorities will be checking the criminal record of the main applicant & dependents. After the detailed review of the application by authorities, applicants will get a pre-approval.
- Once the approval is in your hands. It is time to complete the investment amount. The applicants will get a certificate of citizenship upon the compilation of the investment amount. This whole process takes 3 to 4 months maximum and the applicants do not need to show up in the country physically during the processing time.