If you have decided to purchase a property in Grenada, you may be wondering what the rules are for obtaining citizenship by investment. Here, we will review the rules, application requirements, fees, and dependents. It is important to know the requirements and apply promptly, as a delay can impede your application. To help you make the most informed decision, be sure you are aware of Grenada citizenship by investment act.
The application for Grenada citizenship by investment program offers a unique opportunity for people of good character to become citizens of another country. It allows qualified investors to purchase a second passport and call Grenada home. Citizenship by investment allows you to travel visa-free to over 140 countries. The investment amount required to become a citizen of Grenada is lower than in many other countries that offer economic citizenship. You can invest in real estate or donate money to the government.
If you are planning to obtain citizenship by investment in Grenada, there are certain prerequisites you need to meet before you can become a citizen of this island nation. As a democratic nation with a Westminster Parliamentary form of government, Grenada has a democratic process. Elections are held every five years, and there are checks and balances throughout government. This stable process prevents any one branch of government from gaining too much power. This ensures that foreign investors are safe.
For people who would like to own a Grenada citizenship by investment, they can invest in real estate. The investment must be in an asset that will eventually be sold. However, they need to bear in mind that they are likely to lose money on the opportunity cost of additional funds. The fee is also reasonable compared to the benefits they derive from citizenship. Also, the Grenada government is investing a considerable amount of money into developing the country’s agriculture, alternative energies, and tourism sectors.
Requirements for dependents:
To become a citizen of Grenada by investment, you need to invest at least USD 150,000 in the country. After you have reached the investment amount, you have five years to sell or transfer the property to your dependents. This investment amount increases with the number of dependents. This program requires you to invest in real estate and donate to the National Transformation Fund. The investment amount is then taxed at a flat rate of 28%, but you can make additional contributions if you have more than two dependents.