Residents of India can expand their opportunities by obtaining citizenship in another country. The government of Grenada offers solid advantages. It is possible to get a passport of the region for economic investments. The new document allows you to expand your freedom of movement, provides new business opportunities, and other equally important benefits. Understanding the scheme and the path to success is essential to minimise mistakes and increase your chances of success.
Understanding Grenada Citizenship by Investment
Each region that offers a second passport to foreigners has certain conditions and ways of implementation. Grenada Citizenship for Indian Citizens can be obtained through financing a state fund or acquiring an approved construction project. On average, the procedure takes about six months. The amount of irrevocable donation is 150 thousand dollars for one candidate. The minimum investment amount is 200 thousand dollars for applications that include relatives.
The execution of a real estate sale and purchase agreement also allows one to get Grenada citizenship for Indians. The state has defined a list of approved objects. The price starts from 220 thousand dollars. The company, Immigrant Invest Zlata Erlach expert, notes that the costs should still consider state duties, fees for registration and processing of documents, and other nuances. Application from four applicants will cost an average of about 300 thousand dollars.
Cosmopolitans can choose an object from the approved list. The purchase price should start at 350 thousand dollars. You can sell the apartment and return the funds.
Benefits of obtaining Grenada passport for Indians
Although the process of getting papers takes a lot of time and requires serious investments, the pros of obtaining a Grenada passport for Indians are very significant:
- Travel without additional permits to more than 140 countries, while the native document allows you to visit only fifty countries without hindrance.
- Possibility to issue a business visa to the states, as well as a tourist visa with the right to stay in the state for up to 180 days. It allows visiting, undergoing treatment or rehabilitation, solve business issues.
- Loyal tax atmosphere and eligible to register your business. Residents are exempt from taxes for capital gains and inheritance. Entrepreneurs can take their enterprises to the international level.
- The opportunity to include relatives in the form, as well as the right to inherit citizenship by future children.
In addition, the island can become a reserve airfield in emergencies, a second home, or just a place to relax. Warm sea climate favours the body, so couples and wealthy retirees often choose the region.
Requirements to get Grenada citizenship for Indians
Grenada nationality for Indians involves meeting the criteria specified by the government. The lead applicant must be of legal age, have no criminal record, and not be a wanted person. It is necessary to confirm the legitimacy of income and the absence of serious illnesses.
Along with the applicant, the form may include:
- A spouse of the opposite sex;
- Children under 30 years of age and supporting parents;
- Siblings who are unmarried and have no children.
Licensed agencies provide detailed information, conditions, and assistance in obtaining documents.
Process of getting Grenadian citizenship by investment
If you have decided that you need to obtain a second citizenship, it is necessary to seek the help of specialists, conclude a contract with an agent and collect the papers. The agent will check the candidates and assess the chances of a positive outcome. After that, the lawyers prepare the papers and submit them to the Grenada department. The authorities consider the application for up to 6 months. In case of approval, the investor receives a notice and must process the financial part of the transaction within a month: make investments and provide confirmation. The last stage is obtaining the status of a citizen and relevant documents.
Conclusion
The island’s legislation offers foreigners a passport for their contribution to the economy. The investor himself chooses the most suitable way of naturalisation: donation or purchase of apartments. The amount of investment depends on it. The number of people specified in the application also affects the costs. Each region itself determines the conditions and requirements under the program. So, filing documents for Grenada citizenship is done only through a licensed agent. Grenada passport does not oblige to renounce the native state so that residents can retain the status of a citizen in their home country.
Also Read: Everything You Need to Know About Corporate Citizenship
