More flexible requirements for Grenada citizenship in 2019
Published at: 30/05/2019 12:45 pm
"Robust FDI flows, including from the citizenship by investment program, are financing the external deficit while supporting economic growth", described Grenada's efforts the Concluding Statement of the IMF staff on 28 May 2019.
As the Grenada citizenship by investment programme became one of the leading investors' immigration schemes of the world, the government of the Caribbean country decided to develop the system and amend the legislation. The new, amended rules will attract even more investors as the circle of eligible applicants widened, and the requirements became even more flexible.
Perhaps, the most radical change is the removal of the requirement to become a permanent resident before citizenship. The age limit for child dependents of the investor raised from 26 to 30 years of age. The government also removed the requirement for child dependents to be enrolled in an educational institution. They also removed the age restrictions for qualifying as parents or grandparents. From now, the parent/grandparent dependents do not have to live with the primary applicant.
The legislators also added a formal regulation to retain the approved investment for five years after the successful naturalisation process. Reselling the qualifying investments for the new applicants for citizenship was also a crucial issue. According to the new rules, the citizens under the CIP program may sell their real estates (include freehold, leasehold, real estate trust certificates, timeshare, fractionals, etc.) after the original applicant kept his investment for five years. Moreover, unmarried siblings above the age of 18 are now qualifying as dependents as well, as the primary applicant's or spouse's children born within one year of the approval.
Holders of the Grenadian passport can enter visa-free in 144 countries, including the EU Schengen zone, Russia, Ireland, the UK and China as well. The Caribbean paradise islands of Grenada do not impose income, wealth, or inheritance taxes. The naturalisation process takes only three months, and the applicants do not have to visit the country personally. Grenadian citizens may receive the E-2 Entrepreneur Visa of the United States.
Applicants for the Grenadian citizenship may apply under the contribution and the real estate investment options. Single investors should contribute 150,000 USD. Meanwhile, the minimum amount of real estate investment is 350,000 USD.
Click here for all the detailed information about the Grenada Citizenship by Investment Programme!