Citizenship by Investment in Focus – Part 2
The Caribbean is an extremely popular destination among High Net-Worth Individuals (HNWIs) considering second citizenship. Grenada, Dominica, Antigua & Barbuda, Saint Lucia, and Saint Kitts & Nevis are regarded as some of best CIP programs globally.
Launched in 2013, Grenada’s Citizenship by Investment program is one of the most popular and ranked in the top three CIPs in PWM’s 2018 CBI Index.
Grenada citizenship offers a number of key benefits, including visa-free entry into more than 125 countries, as well as the option to apply for the United States E-2 visa, which is only available to citizens of countries under the US Treaty.
In 2020, Grenada’s CIP program received a record 394 applications, of which 375 were approved.
The country offers two pathways to dual citizenship:
- A contribution of $150,000 for individual applicants to the country’s National Transformation Fund; $200,000 for couples and families of up to 4 members.
- An investment of $220,000 into a government-approved real estate project, which applicants must retain for three years.
Vanuatu has one of the fastest second passport programs – approval takes 10 days and passports are issued within three months. Vanuatu citizenship offers a number of benefits, including visa-free entry into more than 120 countries, and passport holders are not required to live in the country in exchange for dual citizenship.
CIP APPLICATION PROCESS
To safeguard the integrity of CIP programs, foreigners applying for a second passport must meet certain requirements to be granted full citizenship rights.
Applicants are required to submit a collection of legal documents, including:
- Proof of Investment Funds
In addition to proof of investment funds, applicants must provide 12 months
of bank statements demonstrating affordability and financial credibility. - Proof of Residence
Valid proof of residence in the form of utility bills and bank statements. - Valid ID
Legitimate identification, including an original passport, national ID, or a registered driver’s licence. - Birth Certificate and Marriage Certificate
Certified copies attested by the Ministry of Foreign Affairs in the applicant’s home country. - Police Clearance Certificates
Applicants must provide a police clearance certificate from their country of citizenship and any country they have lived in for more than six months in
the previous 10 years.
TFG GLOBAL SOLUTIONS
TFG Global Solutions is the global services division of The First Group. Leveraging our global network of specialists, each service is designed to meet unique requirements, from discerning travel and lifestyle experiences to Citizenship by Investment opportunities. We operate second passport programs in Turkey, Grenada, Vanuatu, Dominica, and Antigua & Barbuda.
To learn more about our CIP programs, schedule a free consultation.