Why Grenada’s citizenship by investment programme is a strong choice for 2021
Grenada is situated in the West Indies in the Caribbean, making the island nation set in an idyllic location and therefore popular for both tourists and expats from across the world. Geographically speaking, Grenada is not far from the Venezuelan coast, making the proximity with Latin America an important link economically, providing opportunity for future market injection as the region sees development in different sectors, such as technology. Not only this, but also being close to the North American continent and with reliable air links to Europe, Grenada is located very handily for businesspeople and families looking to make the move abroad.
Over the last year, all of us, irrespective of where in the world we are, have ventured into uncharted territory with regards to how life has changed, professionally as well as personally. As a result of this, remote working has become increasingly necessary, and popular, making the thought of relocating appealing after the pandemic. One route to a new citizenship is through investment, where a minimum amount must be put into an asset stipulated by the government of the country you are investigating, and in return, you will receive either a passport or a residency depending on the programme.
So now we have the location and the definition of the scheme, it is important to understand how exactly the process works in Grenada, as there can be small yet significant changes from country to country. The steps are as follows:
1. Make the required investment deposit in either of the following:
o Government donation in a National Transformation Fund (USD$150,000 for a single person of USD$200,000 for a family of four)
o Invest in real estate (USD$220,000 minimum for shared ownership, USD$350,000 for a single person)
2. Once approved, you will have to pay the outstanding balance
3. Wait 90 days as this is the amount of time processing takes. During this time the relevant documents are submitted and a request for citizenship certificates and passports are made for the applicants
Extra fees are likely to be incurred throughout this stage, however, aside from that, the process itself is not very long, a