How to get Grenada citizenship
While choosing a country for immigration, a large number of people pay attention to island countries. The legal advantages that citizens have access to, incredible nature, lack of worries and security concerns are the main reasons.
But how to choose “the one”? The choice often falls on islands in the Caribbean, including Grenada. Describing this country, people often mention white sandy beaches, vivid jungles, and breathtaking views.
As a state, Grenada is spread over three main islands, the largest of which bears the name of the country. The two smaller ones are Carriacou and Petite Martinique. In total, the islands of Grenada have 40 fascinating beaches, waterfalls hidden in a forest, etc.
Grenada citizenship offers following benefits:
- The ability to travel. With a Grenada passport, a person has the opportunity to visit 150 countries, including the United Kingdom and USA, without opening a visa.
- High level of medicine. The World Health Organization has declared medical care in Grenada is one of the best in the Caribbean. There is nothing like a healthcare system to show the quality of life of a country.
- Low taxes. Grenada citizenship allows to get rid of the heavy tax burden foreigners are subject to: buying real estate, locals are not obliged to pay taxes, same as taxes on global income (from foreign country).
- Family inclusion. A family member can be added to the application for Grenada citizenship on simplified terms, if they are eligible.
How to obtain citizenship?
Law provides for 2 main options, among which an immigrant can choose the most suitable one:
- One-time investment
By choosing this method, citizenship applicant undertakes to pay $150,000 to the National Transformation Fund (NTF) financing public development projects in Grenada. If a family of up to 4 people applies for citizenship, the investment amount will be $200,000. Only after paying the investment cost and other charges (the fee for citizenship applying and the fee for processing and verifying documents – costing 8 thousand dollars), applicants will be able to receive a passport of Grenada.
- Real estate investment
Second option to obtain Grenada citizenship is to buy a house or land plot there. The difference between both options is in terms: mandatory ownership of real estate for at least 5 years. The lowest permissible cost is USD 220,000. Extra $50,000 goes on administrative fees and passport application fees, which is one-time investment.
The main advantage of this method is that you may recoup your investment by selling or renting it. On the other hand, you can choose to stay there. In contrast, a one-time investment is made on a non-refundable basis.
Application process and documentation
Entire process of obtaining Grenada citizenship can take 6-9 months. To answer the question “How to get a Grenada passport?”, we will cover 2 issues: the procedure and the required documents.
Process of obtaining citizenship consists of three main steps:
- Legal preliminary work: applicant should contact a legal consulting company or an individual lawyer who will properly check the application for compliance with legal requirements and program criteria. This list of standards is set by the Citizenship by Investment Committee of Grenada.
- Preparation of documents: the client, who is guided by a lawyer throughout the process, collects and submits a full package of requested documents. You can read more about what documents are required to obtain Grenada citizenship below.
- Approval of the application and obtaining citizenship: when the relevant authorities have reviewed and approved the application, and the applicant has made the appropriate investment contribution and paid the additional fees, he or she is eligible to receive a Grenada passport.
Regulated standard set of documents is required to obtain citizenship:
- Birth certificate (original or notarized copy)
- ID card
- Passport extract
- Police clearance certificate
- Medical confirmation of good health
Bank statements are required to confirm the payment of the investment fee and the source of income. Six 3x4 photos and a signature certificate are mandatory. These documents are essential to confirm your identity and verify your financial solvency. Candidates are subject to obligatory medical examination to prove that they are free of infectious diseases. All the requirements mentioned above are necessary for admission to citizenship. In order not to miss anything important, we recommend seeking help from immigration lawyers.
Conclusions
Grenada being a true paradise on Earth, is a popular immigration destination. Having the desire and sufficient resources, many people choose this citizenship for simplicity and relatively fast terms. The advantages offered by Grenada, from a great climate to a low crime rate, also play a significant role. Grenada is a good choice for a new home.