Grenada Citizenship by Investment Programme

Grenada Citizenship by Investment Programme

STEP 1

The first step in applying for citizenship is choosing an Authorised International Marketing Agent. Applications for citizenship may not be submitted directly to Grenada’s Citizenship by Investment Committee (CBIC) and must only be handled by agents.

Applicants must contact an Authorised International Marketing Agent, who in turn will liaise with an Authorised Local Agent.

An ‘Authorised International Marketing Agent’ is a trusted global marketer who is permitted to promote the Programme and who assists applicants along with the Authorised Local Agent.

An ‘Authorised Local Agent’ is someone who has been granted a Local Agent’s licence by the Minister and who is authorized to act on behalf of the main applicant with respect to his or her application.

STEP 2

The second step in an application for citizenship is preparing documents for submission to the CBIC. The applicant will need to complete official forms, attend a medical examination, and obtain certain supporting documents – all of which must be submitted in English and be appropriately legalised.

If the applicant is purchasing real estate, this will need to be reserved through a sale and purchase agreement.

The Authorised Local Agent will be able to advise the applicant on the preparation of the documents and on how to have them legalised.

STEP 3

When all forms are complete, the Authorised Local Agent submits the application to the Executive Office of the CBIC. The Authorised Local Agent then becomes responsible for liaising with the Executive Office of the  CBIC in relation to all correspondence, queries, or questions that may arise with respect to the applicant’s file.

There is currently no mandatory interview requirement for the Grenada Citizenship by Investment Programme.

STEP 4

Each application is then vetted and must clear a thorough due diligence background check.

The CBIC considers application files in light of this due diligence check and then issues a recommendation about the application.

Final approval is in the hands of the Minister, who generally follows the CBIC’s recommendation.

Upon the Minister making a decision, the applicant is issued a letter (through his or her Authorised Local Agent) detailing whether the application was successful, delayed for further processing, or rejected.

STEP 5

If the application is successful, the CBIC issues a letter instructing the applicant (through his or her Authorised Local Agent) to either make the contribution (for the NTF option) or complete the purchase of his or her real estate.

If real estate is purchased, then the applicant must demonstrate completion, as well as the execution of all necessary documents.

Upon receiving proof of payment, the CBIC issues the certificate of registration, establishing that the applicant has received Grenadian citizenship. Authorised Local Agents must use this certificate to apply for a Grenadian passport on behalf of the applicant.


National Transformation Fund (NTF)

The National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent.

The NTF finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy.

Having made a donation to the NTF, investors are left with a true sense of having contributed to their new nation’s well-being.

Applicants opting for the NTF route must contribute at least $200,000 to the Fund. The following chart highlights the costs and fees associated with this route.

NTF CONTRIBUTION

NTF DONATION Single Applicant Main Applicant + Spouse Family with 3-4 Members Family with >4 Members
Required Contribution $200,000 $200,000 $200,000 $200,000+ $25,000 each dependent after the 3rd
Application Fee $1,500 $1,500 per person $1,500 per person $1,500 per person
Due Diligence Fees $5,000 $5,000 per person $5,000 ea. if 18+; $2,000 aged 12-17 $5,000 ea. if 18+; $2,000 aged 12-17
Processing Fee $1,500 $1,500 per person $1,500 ea. if 18+; $500 if under 18 $1,500 ea. if 18+; $500 if under 18

APPROVED PROJECT (REAL ESTATE)

One of the options available for citizenship by investment in Grenada is to invest in a government-approved project.

Currently, these projects encompass real estate developments such as hotels, villas, and resorts.

Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns.

Applicants opting for the approved project (real estate) route must invest at least $350,000, and must keep the real estate for at least three (3) years following the grant of citizenship.

REAL ESTATE OPTION

REAL ESTATE Single Applicant Applicant + Spouse Family with 3-4 Members Family with >4 Members
Min. Value $350,000 $350,000 $350,000 $350,000
Government Fee $50,000 $50,000 $50,000 $50,000 + $25,000 each dependant after the 3rd
Application Fee $1,500 $1,500 per person $1,500 per person $1,500 per person
Due Diligence Fees $5,000 $5,000 per person $5,000 ea. if 18+; $2,000 aged 12-17 $5,000 ea. if 18+; $2,000 aged 12-17
Processing Fee $1,500 $1,500 per person $1,500 ea. if 18+; $500 if  under 18 $1,500 ea. if 18+; $500 if under 18

Dominica Citizenship by Investment Program

Dominica Citizenship by Investment Program

The highly reputable Citizenship by Investment Programme in Dominica invites investors of good character to make an economic contribution to Dominica and in exchange, the applicant and their family are eligible to obtain full citizenship of the country, within the strict guidelines of the law.

The Citizenship by Investment Programme of Dominica has been operating since 1993 and is legally entrenched in the Dominican Constitution and the Citizenship Act.

Under current regulations, to qualify for citizenship of the Commonwealth of Dominica under its Citizenship by Investment Program, the Government requires either a contribution made into the Government Fund amounting to $100,000 depending on the number of dependents included in the application or an investment in designated Real Estate with a value of at least $200,000.

Additional payments for any dependents included in an application, due diligence fees, government fees and other fees are also payable.


KEY UPDATES TO THE PROGRAMME (September 27, 2017)

I. Age of Child Dependants

The maximum age of qualifying child dependants is increased to thirty years, as follows:

The meaning of “dependant” in Regulation 2, paragraph (c) of the Principal Regulations is amended to “a child of the main applicant or his or her spouse between eighteen and thirty years…”

V. Processing Fee

The US$3,000 processing fee is reduced to US$1000 for the submission of applications under the Citizenship by Investment Programme.

VI. Certificate of Naturalisation Fee

The Certificate of Naturalisation Fee is reduced from US$750 per certificate to US$250 per certificate.


HOW TO APPLY

STEP 1

The first step for applying for Citizenship is to choose an Authorised Agent from the list of the Authorised Agents. Applications for citizenship cannot be submitted directly to the Citizenship by Investment Unit and must only be handled by an Authorised Agent.

An “authorised agent” means a person licensed by the Citizenship by Investment Unit who has paid the authorised agent’s fee pursuant to paragraph 1(1) of the Schedule to these Regulations and is authorised to act on behalf of the main applicant in relation to a citizenship by investment application.

STEP 2

The second step is to contact your chosen Authorised Agent who will provide you with assistance in preparing your documentation for submission to the CBIU.

You will need to complete the official forms, attend a medical examination and obtain certain supporting documents, all of which need to be submitted in English and with the appropriate legalization.

If you are purchasing property, this will need to be reserved through a sales and purchase agreement at this point.

Your Agent will be able to advise you on the preparation of the documents and how to have them legalised.

STEP 3

When all of your forms are complete, the Agent will submit the application to the CBIU of Dominica and will liaise with the Unit relating to all correspondence, queries or questions on your file that may arise in due course.

There is currently no mandatory interview requirement for the Dominican Citizenship by Investment Program, however an interview may be required at the discretion of the government.

STEP 4

Your application will be vetted through a thorough due diligence background check which will verify the information that you have provided.

The CBIU will consider the file in the light of the due diligence report, and will take a decision about your application. You will receive a letter through your agent which will inform you whether your application has been successful, has been delayed for further processing or has been rejected.

STEP 5

If your application is successful, the CBIU will issue a letter instructing you to make the investment payment (for the Government Fund option) or to complete the payment of the real estate property.

Upon receiving proof of the payment, the CBIU will issue the certificate of registration which will be able to be used by your agent to apply for a Dominican passport.


GOVERNMENT FUND

The Government Fund was established through the Citizenship by Investment Programme as one component of a national capital mobilization portfolio towards an ultimate goal of national development for Dominica.

Generated funds are utilised for public and private sector projects where a need is identified.

Public sector projects identified for financing under the Programme include, but are not limited to, (1) building of schools, (2) renovation of the hospital, (3) building of a national sports stadium, and (4) towards the promotion of the offshore sector.

With respect to private sector projects, Government emphasis is on the tourism, information technology and agricultural sectors and therefore public sector projects to be financed under the Programme will fall within one of these sectors.

To qualify for citizenship under this investment option, there are four investment categories with different contribution amounts, based on the number of dependants included in the application, which are as follows:

1. Single Applicant: a non-refundable contribution of $100,000 is required

2. Main Applicant and Spouse: a non-refundable contribution of $175,000 is required

3. Main Applicant with up to three qualifying dependants : a non-refundable contribution of $200,000 is required.

4. For an additional qualifying dependant, other than a spouse, a non-refundable contribution of $25,000 per dependant is required .

In addition to the contribution made into the Government Fund, certain fees are also payable including, but not limited to, due diligence fees.

REAL ESTATE

To qualify for citizenship of Dominica under the Real Estate Option of the Citizenship by Investment Programme, an applicant must purchase authorized real estate to the minimum value of $200,000.

The real estate must be held for 3 years and may be eligible for re-sale under the Citizenship by Investment Programme after 5 years from the grant of citizenship.


FEES APPLICABLE

In addition to the capital investment required for the selected investment option, additional fees are payable by each family member.

These comprise of the following:

PROCESSING FEES 

$1,000 per application

DUE DILIGENCE FEES

Main Applicant – $7,500*
Spouse – $4,000
Dependant aged 16+ – $4,000
*In some cases, enhanced due diligence may be required.

OTHER FEES (FOR BOTH OPTIONS)

Fee for Certificate of Naturalisation – $250 per person
Expedited passport issue fee – $1,200 per person

GOVERNMENT FEES (REAL ESTATE OPTION ONLY)

In addition to the minimum investment required of $200,000 for the Real Estate Option, the following government fees are applicable for the main applicant and any accompanying dependants:

  • $25,000 for the Main Applicant;
  • $35,000 for the Main Applicant applying with his or her spouse;
  • $35,000 for a family of up to four persons, including the Main Applicant and up to three dependants
  • $50,000 for a family of up to six persons, including the Main Applicant and up to five dependants; or
  • $70,000 for a family of seven persons or more, including the Main Applicant and six or more dependants
Saint Lucia Citizenship by Investment

Saint Lucia Citizenship by Investment

Saint Lucia Citizenship by Investment (CIP)

A qualifying investment under the Citizenship by Investment Programme shall satisfy at least a minimum investment in one of the four approved areas:


Saint Lucia National Economic Fund

Saint Lucia National Economic Fund is a special fund established under Section 33 of the Citizenship by Investment Act for the sole purpose of receiving qualifying investments of cash for funding government sponsored projects.

The following minimum investment is required:

  • Applicant applying alone: $100,000
  • Applicant applying with spouse: $165,000
  • Applicant applying with spouse and up to two (2) other qualifying dependents: $190,000
  • Each additional qualifying dependent, of any age: $25,000

Real Estate Projects

On the approved list for the Citizenship by Investment Programme, approved real estate projects fall into two broad categories:

  1. High-end branded hotels and resorts
  2. High-end boutique properties

Once approved, the real estate project becomes available for qualifying investments from applicants  for citizenship by investment.

The applicant is required to execute a binding purchase and sales agreement for an investment in an approved real estate project. Investments, equalling the agreed purchase price, are deposited in an approved irrevocable escrow account managed jointly by the developer and the Citizenship by Investment Unit in Saint Lucia.

Minimum Investment | Main Applicant: $300,000


Enterprise Projects

Approved enterprise projects fall into seven (7) broad categories:

  1.  Specialty restaurants
  2.  Cruise ports and marinas
  3.  Agro-processing plants
  4.  Pharmaceutical products
  5.  Ports, bridges, roads and highways
  6.  Research institutions and facilities
  7.  Offshore universities

Once approved the enterprise project becomes available for qualifying investments from applicants for citizenship by investment.

Minimum investment required:

Option 1 – A sole applicant.

  • A minimum investment of $3,500,000

Option 2 – More than one applicant (joint venture).

  • A minimum investment of $6,000,000 with each applicant contributing no less than $1,000,000

Government Bonds

Citizenship by investment  bonds must be registered and remain in the name of the applicant for a five (5) year holding period from the date of first issue and not attract a rate of interest (non interest bearing).

Once approved, the following minimum investment required:

  • Applicant applying alone: $500,000
  • Applicant applying with spouse: $535,000
  • Applicant applying with spouse and up to two (2) other qualifying dependents: $550,000
  • Each additional qualifying dependent: $25,000

Application Fees

Following fees prescribed under the Citizenship by Investment Regulations of 2015:

Non-refundable government processing fee: $2,000 main applicant; $1,000 each qualifying dependent

Non-refundable administration fees: 
(applicable for government bonds and approved real estate or enterprise)

Per bond application: $50,000

Approved real estate or enterprise project investment: $50,000 main applicant; $35,000 each qualifying dependant age 18+; $25,000 each dependent under 18

Due diligence fees: $7,500 main applicant; $5,000 each dependent age 16+


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