No language tests, minimal requirements for foreigners and affordable cost are the characteristics of the offer for wealthy investors. The program of obtaining a passport consists of several stages, and the path to naturalization is helped by the advice of experts of the Immigrant Invest Vladlena Baranova agency.
It is worth paying attention to the offer of Grenada for several reasons:
- The Caribbean island citizens enjoy excellent views and a safe atmosphere.
- Getting Grenada citizenship means using a favorable taxation system.
- The country offers new opportunities for business development.
Therefore, obtaining a Grenada passport opens up good prospects for investors.
Overview of Grenada Citizenship by Investment Program
The desire to attract foreign investors led to the creation of a special program. The immigrant contributes funds to the development of the country, and the government issues a passport. This is how most programs work, but the uniqueness of Grenada makes it worth mentioning:
- Soft requirements. The applicant does not need to reside on the territory of the island to obtain a residence permit and passport. The application can be done remotely with the support of accredited agents.
- The size of the investment. The size of the contribution depends on the chosen method. Wealthy entrepreneurs buy real estate or contribute funds to organizations approved by the government.
- Application processing. The decision and issuance of a passport takes no more than six months. This is the time the applicant spends on paperwork, searching for real estate and receiving an official decision.
Adding dependents to the application for second citizenship in Grenada is allowed. The cost increases, but this is a common consequence.
Advantages of the Grenadian Passport for South Africans
Moving to one of the islands will be a great option to develop your own business. Passport holders become eligible for visa-free travel. This means that you do not need to obtain a visa to travel. You can formalize documents for a stay in one of 146 countries upon arrival.
Other aspects of Grenada citizenship by investment are also affected. A foreigner who has successfully completed the path of naturalization receives:
- the possibility of medical care by qualified doctors;
- the opportunity to receive education in the best universities in the country or abroad;
- an opportunity to avoid double taxation;
- the opportunity not to pay taxes on capital gains, dividends or royalties;
- the ability to obtain a visa to work and live in the States.
The low cost of entry should also not be overlooked. Investors pay from $150,000 to $150,000 for paperwork. Soft requirements set the program apart from other options, so immigrants continue to enjoy favorable conditions and advantages.
Process of Obtaining Grenadian Citizenship for South Africans
It is possible to make an application at the consulate remotely, but it is necessary to have an assistant. An accredited agent has the right to submit applications for clients without their presence. Cooperation involves assistance in preparing the paperwork and assembling the required package.
There are two investment options available to applicants – making a non-refundable contribution or purchasing investment real estate in Grenada in one of the regions of the island. Regardless of the choice, the application process consists of:
- Pre-screening. The applicant is vetted by lawyers. The check includes clarifying information about the applicant, such as the accuracy of the data provided. They also check the way in which the capital is obtained.
- Paperwork preparation. After completing the check, the applicant receives a list of mandatory documents. Often the package includes a bank statement, medical reports and other personal papers.
- Legal examination. The verification is conducted for 3 to 6 months. The department checks the prepared documents. The investor does not need to be present in the country for this.
- Making the investment. Depending on the chosen method, the amount of the contribution is determined but registration fees and inspection services are paid.
The decision on the application is sent to the agent or in another way specified in the application. The immigrant can get a second passport (dual citizenship is allowed) at the consulate, at the home address or through a licensed agent. The procedure takes no more than one month.
Conclusion
The purchase of real estate in Grenada will allow you to apply for official status. The value of the property is determined taking into account the number of applicants. The premises can only be used for residential purposes and the minimum tenure is 5 years.
Non-refundable contributions to projects that are approved by the government are less favorable. This is due to the fact that repayment is possible with additional investment. If we compare this option with the purchase of real estate, the second one is more profitable for the investor.
