A second passport is a great Plan B in case of unforeseen problems in your homeland. Caribbean Islands offer foreigners to get local residency by investment.
Experts say Grenada citizenship is one of the best in that area. It’s popular not only among tourists but entrepreneurs who lead global business too.
About Grenada passport by investment program
The Government of Grenada invites people of impeccable reputations wishing to obtain local citizenship to participate in the investment program. This means that only applicants without criminal records and sanctions on travel to other countries can count on success. Doing legal business is also a must.
In 2013, Grenada established such opportunities to get a local passport:
- Purchase of a part of a hotel complex (from $350,000 for one person);
- Donation to the national fund (from $150,000 for a single person).
If you choose the first option, you can sell the property bought for citizenship and return a part or full amount of the investment. This is possible 4 years after the purchase. Interesting fact, other Caribbean islands with a similar program requires at least 5 years after the real estate on their territory was bought.
You can add your relatives to the application for Grenada citizenship. This is advantageous as buying a second passport for your spouse and two children can cost about $ 25,000 in addition to the main investment. All program participants can enjoy the benefits of a Grenada residency equally to locals.
The process of obtaining a Grenada passport
The most important stage is the preparation of documents with notarization and translation into English. Professionals of Migronis help to collect the necessary papers and fill out the submission form within 1 week. They send a package to their representative in Grenada. Your presence isn’t essential.
The whole process from applying to obtaining a passport takes from 3 to 5 months. In the worst case, it can last up to a year. Grenada government may require additional documents. Learn more details at migronis-citizenship.com/grenada.
Advantages of citizenship in Grenada
You may have noticed that Grenada offers the lowest investment costs for a second passport in the Caribbean. This is a significant advantage, which makes foreigners choose the island. Besides, all its citizens receive the following benefits:
- The ability to travel visa-free to 120+ countries;
- Accounts in the best world banks;
- Easy obtaining of business-visa in the US;
- Long stay in the USA and Canada;
- Tropical climate ideal for vacation and living;
- Benefits of the Commonwealth of Nations where Grenada is included;
- Residency can be inherited.
An important detail for foreign businessmen is the tax system in the country. To compete with the Caribbean Islands, Grenada offers entrepreneurs the most comfortable business environment. Besides, the local government understands the desire of some of its citizens to be private. Therefore, it has the right to refuse any international organizations to give out information about enterprises in the country’s territory.
A little about Grenada
The island of Grenada in the Caribbean is known as a popular tourist destination. People from all over the world come here to see exotic landscapes, unusual architecture, and clean beaches. The most popular activities are hiking, diving and sailing. Local agriculture is the cultivation of bananas, citrus fruits, nutmeg, sugar cane, cocoa, etc. These products are a significant part of the export.
The Caribbean is a great place not only for pleasure but also for business. Getting Grenada citizenship is easy, fast and cheap, especially, compared to European countries. At the same time, the local government offers many opportunities and directions.