Benefits of the Grenada passport
Cosmopolitans acquire Grenada citizenship for several reasons. Let's talk about the pros and cons of this status.
Visa-free travel. The passport of Grenada allows you to travel without a visa to 144 countries. These include those popular among travelers and businessmen: Great Britain, the countries participating in the Schengen Agreement, Hong Kong, Singapore and China.
Sometimes Grenada passports are obtained for the sake of a visa-free entry into China. For example, this is what Federico, a client of Immigrant Invest, did. Federico supplies medical equipment to Asian countries but he often had problems with entering China: he had to apply for a visa every time. Because of the bureaucracy, negotiations broke down and the reputation of the company deteriorated. Immigrant Invest lawyers offered a solution to the problem — a Grenada passport by investment. Federico received citizenship 3 months after applying.
Business visa to the USA. Another plus of the Grenada passport is the ability to obtain an E-2 visa in the United States. This is a non-immigrant investor visa. With it, you can move to the United States to do business there. As long as the company makes a profit, the investor has the right to stay in the country.
No minimum investment threshold is defined. The investor must deposit a significant amount of money into his company. Usually it is enough to invest from $200,000. It takes 2 to 5 months to get a visa.
The E-2 visa is not available to everyone. To obtain it, an agreement must be concluded between the country of citizenship and the United States. If there is no such agreement, only an EB-5 visa can be obtained. This is an investor immigrant visa.
To obtain a visa EB-5, it is optional to manage the business. But you need to invest at least $500,000. It will take one and a half to two years to complete.
Alexander wanted to transfer his IT business from Russia to the USA in order to develop it there and in the future pass it on to his son. He considered the EB-5 visa, but it didn’t fit. To fulfill the investment condition, you would have to withdraw money from another company. Immigrant Invest lawyers offered Alexander and his family to apply for a Grenada passport and an E-2 visa to the United States. Registration of citizenship took only 2.5 months, the fastest case in our practice.
Tourist visa to the USA. Citizens of Grenada, like other Caribbean countries, receive a B-2 visa to the United States immediately for up to 10 years.
The B-2 visa allows you to spend up to 6 months in the US during the year.
Tax optimization. There are no taxes on interest, royalties, capital gains, inheritance and wages in Grenada. This allows you to reduce the amount of taxes paid by the investor and his company.
Education of children abroad. Grenada is part of the Commonwealth of Nations. Thanks to this, the children of investors can take advantage of preferential conditions for education in the UK. For example, get one of the Commonwealth Scholarship Commission (CSC) scholarships. Therefore, the advantages of the passport of Grenada include the ability to reduce the cost of education.
A visa-free regime with the Schengen states and the UK allows you to come to these countries to choose a school or university. And parents can visit students and not miss important events.
Disadvantages of Grenada citizenship
The Grenada passport gives cosmopolitans the freedom to travel around the world. But this status also has disadvantages: for some purposes, a Caribbean passport is not suitable.
Limited stay in the Schengen area. Cosmopolitans with a Grenada passport can spend 90 out of 180 days in Schengen, as with a visa. The only advantage is that citizenship is given for life, and the visa is re-approved every time it is renewed.
Citizenship of Grenada is not suitable for investors who want to move to Europe or acquire an “alternate airfield” there in case of danger. They should pay attention to the Maltese passport for exceptional merit - it allows you to live in any EU country. A residence permit in Portugal, Greece, Spain or Malta is also suitable. With a residence permit, you can only move to the country that issued it.
Limited stay in the UK. The disadvantages of the Grenada passport include a limited time spent in the UK. Citizens of Grenada come there as tourists and spend up to 6 consecutive months. To study, work and even marry in the country you need a visa.
The Grenada passport is not suitable for moving to the UK. Work, school or university without a special visa is also impossible. However, with these goals, no status for investment will help, except for a residence permit in the UK. It requires an investment of 2 million pounds.