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Today we are reviewing another Citizenship by Investment Program – This time Grenada.
We are going to cover anything that you might possibly want to know when it comes to this CBI program: costs, how long it will take, visa-free access that you get, and more.
We are going to compare it to Saint Kitts and Nevis, but also to other ones available to give you a better insight so you can make an educated choice whether this citizenship is right for you or not.
Grenadian citizens have visa-free or visa on arrival access to 144 countries and territories Including UK, Schengen zone, China, and Russia, ranking the Grenadian passport 35th in terms of travel freedom according to the Henley visa restrictions index.
This is why many consider Grenada the most powerful Citizenship by Investment passport in the Caribbean. By straight donation, this is also the most expensive program in the Caribbean. Donation in this program is 150 000 USD.
There is 5 Citizenship by investment programs in the Caribbean: Grenada, St Kitts & Nevis, Dominica, St Lucia, and Antigua and Barbuda.
Another famous program that’s in South Pacific is Vanuatu.
What are the costs of the Grenada Citizenship by Investment program?
If you’re a single applicant you will donate 150 000 USD to the government. Besides this, there are lots of fees: 5000 USD due diligence fee, 1500 USD government processing fee, another 1500 USD for the government application fee, passport and oath fee of 270 USD, courier fees 400 USD, professional fees of 6000 USD, plus bank fees and VAT. The total ends up being 164 670 USD for a single person.
If you want your spouse to get the passport as well, the donation goes up to 200 000. Some fees also go up, so the total goes up to 222 940.
For a family of four, with 2 dependents under the age of 16, it’s 227 480 USD, and if dependents are over that age it ends up costing 239 480 USD.
Besides donation, you also have the option of investing in real estate.
How does it work in this case?
You will have to do a project investment of 220 000 USD, you still have all the fees that are mentioned in the previous case plus you will have another government fee of 50 000 USD and a real estate transfer tax of 9000 USD. The total amount that you need to put out as a single applicant is 293 670 USD.
Unlike in the previous case, you will at least keep the property.
If you want to add the spouse real estate option will end up costing you 301 940 USD.
For a family of four, it will cost 306 480 USD in the case of kids being under 16 years of age.
For a family of four with older kids, it will end up costing 318 480 USD.
What about timelines for Grenada Citizenship by Investment program?
It will take you 3-4 months to get approved. There is no fast-track option.
What is the biggest advantage of the Grenada CBI program?
This is the only Caribbean CBI country that gives you access to the US. Grenada offers you an E 2 visa. The E-2 Investor Visa allows an individual to enter and work inside of the United States based on an investment they will be controlling, while inside the United States. The E2 visa is good for three months to five years (depending on the country of origin) and can be extended indefinitely.
This is why Grenada is quite popular among Americans who renounced their citizenship.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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