Grenada Citizenship: Latest updates about eligibility criteria for Pakistani applicants
- By Web Desk -
- Nov 27, 2024
Grenada government provides a major opportunity for those wishing to acquire a second passport besides their native country.
The country established the Grenada Citizenship by Investment Program in August 2013.
Grenada Citizenship by Investment
The Grenada Citizenship by Investment Program requires applicants to either make a substantial economic investment in the country or acquire a qualifying asset approved by the government.
In return, the government will grant citizenship to applicants after a rigorous vetting and due diligence process which includes comprehensive background investigations.
Advantages of the Grenada Citizenship by Investment Program
- Visa-free or visa-on-arrival access to more than 140 destinations, including China, Hong Kong, Singapore, the United Kingdom, and the Schengen Area of Europe.
- The sole Caribbean citizenship by investment initiative that has an E-2 Investor Visa Treaty with the United States, enabling citizens to apply for a non-immigrant visa after residing in Grenada for a continuous period of three years.
- Citizenship can be transferred to new spouses and future generations.
- The option to include a spouse, children under 30, unmarried siblings aged 18 and older, as well as parents and grandparents of both the main applicant and their spouse.
- No limitations on dual citizenship in Grenada.
- No minimum residency requirement.
Also read: Obtaining a German citizenship becomes easier now; here’s why
Eligibility Criteria for Grenadian Citizenship by Investment
To be eligible for citizenship, the primary applicant must be at least 18 years old, fulfill the application criteria, and meet one of the two primary qualifying options:
- National Transformation Fund donation option: A minimum non-refundable contribution of $235,000 for a single applicant or for a family of up to four members.
- Real estate option: A purchase of at least $270,000 from a government-approved real estate project, along with an additional minimum non-refundable contribution of $50,000, applicable for a single applicant or a family of up to four members.
It is worth noting here that Grenada allows a stay of up to 90 days without a visa, however, those arriving in the country are required to have a passport valid for at least six months.
The country is tax-free in terms of capital gains and inheritance while the tax collected by the country’s inland revenue division only applies to global income for individuals.