India’s staggering population is growing day by day and this should be a buzzing sound for every Indian. It’s no wonder why Indian Nationals are found in all corners of the world, looking for better opportunities and perhaps a way to secure a second passport through citizenship by investment for a better future. While acquiring citizenship in some countries might not be an easy feat, especially for low-income earners, it’s easy for rich Indian investors who are willing to secure a second passport. Ahead, we are going to discuss the following:
It’s no more news that India is the second most populated country in the world and the reasons for acquiring a second passport are numerous and varied. The ease of international travel, tax breaks and social security services are just a few. But what about national pride? Many Indians choose to obtain citizenship in foreign countries because they believe it would bring more benefits than retaining their original one.
Traveling the world is a dream of everyone. With the passport ranking in 85th place, Indian passport holders have access to 59 Visa-free destinations, resulting in limitations on traveling freedom. This means that getting a second passport and dual citizenship in a country with a good passport ranking is very ideal for Indians.
For Indians, is it difficult to enjoy tax breaks in your country but there are a lot of countries out there that offer tax freedom. Think of a country like Grenada, Saint Kitts and Nevis, or Monaco that does not impose income tax on its residents, regardless of where they earn their income.
The security situation in India cannot be overemphasized. From food security, and unemployment to the high crime rate, India has continued to record more and more security-related cases. According to a recent report, the crime rate in India increased from 383.5 in 2018 and 385.5 in 2019 to 383.8 in 2020. And the cause was generally attributed to COVID-19-related restrictions and violations. In this case, many Indians consider other counties that they deem better and safer for their family.
Education is another reason why Indian nationals should consider a second passport. While the government of India might offer free education for pupils in government schools up to ten grades, as an Indian national, your children can enjoy free education in other countries across the pond.
Dual citizenship is a sign of national pride. While Indian nationalism is monogamous, the world has become more polygamous. Dual citizenship is a wise decision in today's globalized world. Here are the reasons why you should opt for Grenada citizenship:
With a Grenada passport, you can travel to 146 countries visa.
You can set up a business in Grenada and enjoy tax freedom
For Indian investors opting for the Grenada real estate program, you can recover your investment after 5-years by selling the property.
As the only Caribbean country with an E-2 Treaty Investor Visa with the United States, holders of Grenada passport can invest and run a business in the US.
Applying for Grenada passport allows you to add family members to the list.
With a low crime rate, you can enjoy the Caribbean country without worrying about security.
Grenada has a good economy, so you won’t worry about your investment.
There are two different pathways for Indian investors to acquire a Grenada passport and citizen and there are:
The minimum requirement for this option is $150,000 to be contributed to the Grenada Economic Diversification Fund program. Details of the donation and extra fees as shown below:
| Single Applicant | US $150,000 |
| Main applicant and Spouse | US $200,000 |
| Family up to four members | US $200,000 |
| Any additional dependent after the third dependent | US $25,000 |
Extra fees and Due diligence
| Due Diligence | USD 5,000 per person 17 and over USD 0 for dependents 0 to 16 |
| Application fee | US $1500 per person |
| Passport fee | US $250 person |
For Indian investors who are opting for this option, you must invest at least $220,000 in the Grenada government-approved real estate. Details of the extra fee is shown below:
| Main applicant + Spouse + 2 Children | USD $50,000 |
| Additional dependents | USD $25,000 |
| Application fee | USD $1,500 each |
| Application fees for dependents under 18-years | USD $500 each |
Steps to take in order to apply for a Grenada passport
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