China visa‑free with a Grenada passport for a Russian entrepreneur

Clients’ names and photos have been changed
 
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Alexey decided to get a Grenada passport by investment in order to frequently travel to China visa‑free for negotiations with his business partners. However, when the department dealing with citizenship by investment was reviewing his application, they asked for additional information related to his Due Diligence check.

Alexey is from Samara. He has an advertising business: Alexey helps companies from Asia enter the markets in Russia, Belarus, and Ukraine. Previously, he flew to Asia on tourist visas for negotiations with his partners.

Alexey received an order from a Chinese partner in March 2021 to train a team in Guangzhou on advertising processes in post‑Soviet countries. For Alexey’s company, this was a large order that required frequent trips to China.

Злата Эрлах - Руководитель венского офиса

helped the couple obtain Grenada citizenship

We explain how a Grenada passport helps Alexey do business in China and travel freely around the world. We also give details of the additional information Alexey had to present in order to pass his Due Diligence check and obtain a second citizenship.

Why Alexey needed a second passport

Alexey’s task in the new project with a company based in Guangzhou is to train the Chinese team in advertising and marketing processes and help it enter the markets in Russia, Belarus and Ukraine. The project is expected to take one year to complete. During this period Alexey will have to travel to China frequently.

The Guangzhou Project is a chance in a lifetime! We train the team, the customer solves his problems, earns a profit, and the company develops. If it works out well, we will definitely receive new orders as the success of this project spreads by word of mouth.

Alexey

has his own advertising business, 39 years old

Apart from China, Alexey also travels to meetings with clients in South Korea, Hong Kong and Singapore. He became tired of constantly applying for visas for his visits. In addition, due to the pandemic, China and Singapore stopped issuing tourist visas and started admitting only those foreigners who had long‑term entry permits.

Alexey read our article “Citizenship by Investment: 10 Most Popular Programs” and on March 10, 2021, he turned to Immigrant Invest for advice.

Choosing a citizenship by investment program

The first step is to conduct a preliminary Due Diligence check on the investor. Immigrant Invest’s lawyers assess the risks of Alexey’s application being rejected under the citizenship by investment programs.

Alexey has no criminal record or instances of his visa applications being refused. Alexey’s source of income is legal and is based exclusively on his business. He pays taxes on time, and all the company’s calculations and transactions are transparent and go through the corporate account. Alexey has a clean record and he is eligible to participate in any government citizenship program for investors.

Our preliminary Due Diligence check helps us pick up potential risks and reduce the possibility of our client’s application for citizenship by investment being rejected to almost zero. The preliminary Due Diligence check is carried out by our in‑house certified Anti‑Money Laundering Compliance Officer.

Евгения Морозова — Руководитель юридического отдела в Иммигрант Инвест
Evgeny Morozova,

head of the legal department

Requirements for a second passport and terms of the program. Visa‑free travel to China was Alexey’s main goal. He also wanted to travel freely to other Asian countries.

Alexey planned to be in China at the end of August 2021 to start work on a project in Guangzhou. His budget for obtaining a second citizenship was $ 300,000.

Investor’s requirements for a second passport:

  1. Ability to travel to China and other Asian countries without visas.
  2. The passport had to be delivered in less than 6 months.
  3. Budget: $ 300,000.

Among the countries offering citizenship by investment, Grenada’s citizenship by investment program most suited Alexey. With a Grenada passport, the holder can stay in China without a visa for up to 30 days a year. In addition to China, Grenada citizens can visit 142 countries without visas, including the Schengen states, Britain, Hong Kong and China.

The minimal cost of the program is $ 150,000, which is just half of Alexey’s budget. In order to obtain a Grenada passport by investment, the applicant needs to either make a non‑refundable contribution to the National Transformation Fund or buy real estate. Alexey chose to make a contribution.

It takes 4 to 6 months to obtain a Grenada passport. Immigrant Invest started helping Alexey on March 10. Just slightly more than five months remained until the deadline specified by Alexey.

Immigrant Invest’s lawyers calculated the cost of participating in the Grenada citizenship by investment program. They prepared the required package of documents and applied for Alexey’s citizenship within three weeks. When submitting the application, the investor paid the Due Diligence fee.

Calculating the cost of participation in the Grenada citizenship by investment program for a couple: $ 216,690

$ 200,000

Non‑refundable contribution to the National Transformation Fund

$ 10,000

Due diligence check

$ 3,000

Fee for filing application

$ 3,000

Fee for processing documents

$ 500

Passport fee

$ 150

Courier fee

$ 40

Fee for oath of allegiance

$ 200,000

Non‑refundable contribution to the National Transformation Fund

$ 10,000

Due diligence check

$ 3,000

Fee for filing application

$ 3,000

Fee for processing documents

$ 500

Passport fee

$ 150

Courier fee

$ 40

Fee for oath of allegiance

Unforeseen difficulties

Alexey and his company have a clean financial history and he is a law‑abiding citizen. Therefore, our preliminary Due Diligence check showed that there was a 99.9% probability that he would receive approval for any citizenship by investment program. However, the Grenada department in charge of citizenship applications sent a request for additional information.

The government department in charge of any citizenship by investment program reserves the right to make further inquiries in relation to any application without explanation.

Pavel Reshetnikov,

Compliance Anti Money Laundering Officer

There was no obvious reason for this additional request. In 95% of cases, additional requests are based on the fact that there are gaps in the investor’s financial history. The department handling the citizenship by investment program asks for the missing information, verifies it and thus rejects unsuitable applicants. However, there were no gaps in Alexey’s financial history.

Another reason for an additional inquiry is the demand for constantly stricter Due Diligence requirements. The US, UK and EU regularly update their standards and make the investor’s Due Diligence processes stricter.

Grenada, which has close historical and economic ties with the US and UK, follows these trends and is also gradually strengthening its Due Diligence process. Therefore, we have to be prepared that the government may request additional information on the investor, even when they have a simple and satisfactory financial history.

Alexey was asked to show all cash receipts for the last tax year: the company’s revenues and tax payments, transfers from the corporate account to Alexey’s personal account and his tax payments. As a result, instead of three months, Alexey’s Due Diligence took four months.

Immigrant Invest’s lawyers were prepared for such additional requests: our company monitors changes in the standards and requirements for verification procedures and regularly renews its licenses.

We prepared all the documents: the company and Alexey’s financial and tax reports. We attached the account statements for the closed tax year to these documents. Aleksey passed the Due Diligence check, although it lasted for a month longer than expected.

Евгения Морозова — Руководитель юридического отдела в Иммигрант Инвест
Evgeny Morozova,

head of the legal department

Obtaining a Grenada passport

Alexey’s application was approved on July 30, 2021, and he immediately paid the stipulated contribution to the Grenada national fund. On August 16, Alexey and his wife Olga received their naturalization certificates and their second passports.

5 months

to get Grenada passports

Stages of Alexey’s participation in the Grenada citizenship program

March 10, 2021

Alexey applied to Immigrant Invest

+ 1 day

Preliminary Due Diligence check

+ 3 weeks

Preparation of documents, application submitted

+ 3 months

Standard Due Diligence check

+ 1 month

Additional information request for Due Diligence

July 30, 2021

Application approved

August 16, 2021

Passport issued

March 10, 2021

Alexey applied to Immigrant Invest

+ 1 day

Preliminary Due Diligence check

+ 3 weeks

Preparation of documents, application submitted

+ 3 months

Standard Due Diligence check

+ 1 month

Additional information request for Due Diligence

July 30, 2021

Application approved

August 16, 2021

Passport issued

Results of our help

On August 29, 2021, Alexey wrote to Immigrant Invest from China and told us that, in addition to China, he had also managed to visit South Korea. He travelled there as a Grenada citizen.

At Incheon Airport in South Korea, Alexey presented his Grenada passport. The entry officer stamped his passport and an hour later he was in the center of Seoul. He can spend up to 90 days a year in South Korea.

At the passport control at the Guangzhou Baiyun airport, in addition to his Grenada passport, Alexey presented a copy of his business contract and the invitation from his Chinese client. The invitation stated that Alexey was a contractor for a Chinese company and planned to visit the country regularly over the next 12 months.

With a Grenada passport, Alexey will be able to spend a total of 30 days per annum in China. This will be sufficient to cover 5‑10 business trips.

Entering South Korea without a visa using a Grenada passport

On August 16, Alexey received a Grenadian passport and on August 26 he flew to Seoul

Entering China without a visa on a Grenada passport

On August 29, Alexey flew from Seoul to Guangzhou

Entering South Korea without a visa using a Grenada passport
Entering China without a visa on a Grenada passport

Immigrant Invest is a licensed agent for government programs in the European Union and the Caribbean.

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