In a bid to attract foreign investment, Grenada first launched its citizenship by investment program back in 1997. However, the program was enshrined by law only in 2013 when the Grenadian Parliament passed the ‘Grenada Citizenship by Investment Act, 2013. Subsequent amendments have been made to the act since then, and now an applicant can receive citizenship from the country in under two months. It should also be noted that in addition to approval from the CBIC, applicants also require validation from the Government of Grenada.
General Requirements to Acquire a Secondary Grenada Passport In addition to satisfying the necessary investment criterions, there are some requirements that each applicant must fulfill to gain citizenship from the country.
The Applicant should be at least 18 years of age.
Should not have any criminal record against his/her name.
Should clear the due diligence checks. Must be able to confirm his/her investment sources.
Following dependents are eligible to acquire a Grenadian passport along with the main applicant:
Spouse of the applicant.
Children under the age of 30.
Parents above the age of 55.
Unmarried Childless Sibling 18 years old and above.
The Grenada citizenship program caters to high-net-worth individuals who wish to travel and do business across the world without any restrictions. A secondary passport can also prove fruitful to those who want to optimize their tax liabilities.
Prequalification check of the applicant and dependents.
Preparation of all the necessary documentation.
Reservation of the property or payment of due diligence fees and related fees.
The application is officially submitted to the CBIC.
Due diligence and background checks are conducted through an international third-party due diligence service.
The application is approved.
The required donation is made to the Government of Grenada, or the necessary payment is made to the real estate developer.
The applicant and his dependents are granted Grenada citizenship and passport.
All pending fees are cleared after the passport has been delivered.
Aqua Investments provides solutions that pave the way towards generating value via solid investments, availing residency and citizenship of the World’s leading countries & eventually achieving the optimal setting for your future generations to thrive in. All programs are governed by respective laws and supported by the government, with the objective of encouraging foreign investment into the country for its subsequent development. The citizenship-by-investment or residency laws, process and requirements can all be found in the country’s Constitution.
Residency programmes offer immediate residency following a successful application and full citizenship can usually be applied for after a period of time. A second passport will only be given following citizenship approval.