Where is Grenada?

Grenada is part of the Commonwealth so it is not to be confused with Granada in Spain. It is a sovereign tri-island nation consisting of the islands of Grenada, Carriacou, and Petite Martinique, located in the Eastern Caribbean Sea. It’s north of Trinidad-and-Tobago, and it’s part of the Lesser Antilles chain of islands. The country has decent airlift and is easily accessible from the United States, Canada and Europe.

Why Grenada for a second passport?

The choice of country for a second (or third) passport is subjective. Grenada is one of that few countries successfully operating a Citizenship-by-Investment Program (CIP) and it enjoys a solid reputation with a robust and effective due diligence process.

Furthermore, the applicant and qualifying family members are not required to reside or to visit Grenada. Once the application is approved and passports are in hand, a Grenadian passport grants access to over 140 countries without a visa, including the United Kingdom, the European Union and China, along with other intrinsic benefits of being a Commonwealth passport holder.

How does one get a Grenada passport?

Grenada’s CIP currently has two options. The applicant can choose which stream they prefer to qualify for. 

The first option is a contribution of at least USD 150,000 for a single applicant, with the amount increasing depending on the family composition. This directly benefits the economy and therefore helps to finance projects in renewable energy, agriculture, infrastructure and tourism.

The second option is an investment into a government-approved real estate project of at least USD 220,000. Tthis amount is fixed, regardless of the family composition, and most investments are into hotels, villas or resorts. 

What is so attractive about Grenada?

Grenada is known as the Spice Island of the Caribbean. It’s a hidden gem offering unspoiled beauty and it’s famous for its aromatic spices and organic chocolate.

For those considering living in Grenada it is considered one of the safest places in the world. It also lies outside of the main hurricane belt. Grenada also boasts of white sandy beaches including the world-famous Grand Anse Beach, breathtaking waterfalls, chocolate factories and rum distilleries, and world-class dive sites. 

The latter includes “Bianca C,” the largest shipwreck in the Caribbean, and the World’s First Underwater Sculpture Park. We currently operate an office in Grenada and can consequently advise and accommodate applicants who wish to make the move. 

Among my clients who actually decided to visit and explore Grenada, I can confirm that every single one of them was pleasantly surprised by the country. Grenada also has one of the best and most highly-praised medical universities in the world. The St. George’s University (SGU) has over 6,000 students from 140 countries and a 93% US residency placement rate for its graduates.

What are the disadvantages of a Grenada passport?

All Citizenship-by-Investment Programs currently operational worldwide come with a cost, so this is a situation not unique to Grenada alone. In addition to the investment amount, the applicant will have to pay professional fees and various government fees.

When it comes to managing our client’s expectations, I am extremely straightforward by disclosing right away that the main benefits of those CIPs are the citizenship and passport acquired through the investment. It is not the other way around. 

Tell us about the Six Senses investment. I understand it’s down to the last few unsold units. Why has it sold so well?

Investing into the new Six Senses La Sagesse Grenada is indeed a qualifying investment under Grenada’s CIP program. A single share of the resort costs USD 220,000. 

From a practical stand-point, it is no secret that real estate developments associated with CIP – both in the Caribbean and in Europe – are often overpriced and in many cases are never actually completed. There are rare exceptions and this project is one of them.

Six Senses, being one of the best hotel brands in the world, has also attracted lifestyle buyers and not only investors interested in the citizenship program. As such the value of this brand – and therefore theinvestment – cannot be underestimated, especially considering that this will be the first Six Senses resort in the region, hence a flagship property. 

Six Senses La Sagesse Grenada is being built by the same developer who completed the internationally-acclaimed Park Hyatt St. Kitts and Kempinski Dominica. So they have an outstanding track record in successfully completing luxury resort projects. At the time of writing this article, there were less than 30 shares left in the whole project. 

What other perks are investors entitled to?

The most obvious benefit is the citizenship and passport of Grenada. The investment itself into Six Senses entitles the investor to dividends currently conservatively estimated at 2-5% per annum paid in USD. There are no yearly maintenance or service fees. The returns will be based on the hotel operation after the project is completed in 2022. 

During the construction, the investor is entitled to a 7-night complimentary stay at the Park Hyatt St. Kitts or Kempinski Dominica each year.

What is the total outlay if I choose the Six Senses investment option?

This will vary depending on the family composition. As a tentative overview, an investor applying alone can expect a total outlay of around USD 325,000 while a family of four would be spending approximately USD 346,000. We will of course provide an exhaustive breakdown to each family based on their unique composition. 

Can you sell your investment?

Yes. However, the law prescribes that investors in the Grenada CIP must hold their investment for at least five years, after which they may sell their investment. For lifestyle investors, there is no holding period. 

Please describe the application process.

When a client inquires about any program with us, we first determine whether the client is likely to qualify or not. At this stage, the client will be required to make an initial deposit as our compliance department performs due diligence checks. This step takes two to three weeks. Once this is completed, we will advise the client whether to move forward or not based on our findings. 

In case we determine that the client should not move forward, we will refund the deposit to the client and their journey ends there. On the other hand, and assuming we determine they are likely to qualify, then we start gathering the prerequisite documents under the proper format, liaise, in the case of Grenada, with our office in Grenada and the Government, and then once the application is ready, we submit the application. 

How long is the whole process?

From the moment we submit an application, it will take an average of two to three months for the Government of Grenada to take a decision on an application. Occasionally we do have applications that may take up to eight months to process due to the complexity of the case or a delay in the submission of documents. However the latter are exceptions.

When do I need to pay the investment?

The investment is paid in two different stages. An initial deposit will be paid upon submission of the citizenship application. Once the application is approved, then the balance should be paid. Grenada will issue the passports shortly afterwards. 

READ MORE ABOUT HOW TO GET A SECOND PASSPORT

Required documentation for a Grenada passport

A tailored and detailed checklist is given to all our clients based on their own situation. 

Personal documentation requirements include but are not limited to:

                • All pages of current passport

                • ID Card

                • Birth Certificate 

                • Marriage Certificate 

                • Passport-sized photos 

                • Police clearance(s) 

                • Diploma of highest education

                • Proof of address

                • Medical report

                • Affidavits of Support for the accompanying dependents 

Professional documentation requirements include:

                • Reference letters from a bank and a professional

                • Bank statements

                • Source of funds documents

What make the Grenada passport unique?

Grenada is one of the very few passports in the world that grants visa-free access to the UK (180 days), all EU countries (90 days), Russia and Mainland China (30 days). In addition, it is the only Caribbean CIP nation that is a USA E-2 treaty country. This means that successful applicants will become eligible to apply for a USA E-2 visa that will enable the investor and family members to establish a business in the United States and to lawfully reside in the United States.

Read more about how to get a second passport in Travelife Magazine.

Harvey Law Group Philippines

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The post Invest in a hotel and get a second passport appeared first on TRAVELIFE Magazine.

Why Spain for a Golden Visa?

Spain is top of mind for most – if not all – Filipino clients due to the colonial heritage of the Philippines and its intertwined history with Spain. There are several ways to become a Spaniard — you can show evidence of your lineage, marry a Spaniard or legally spend enough time in Spain.

What is a Golden Visa?

However, the Spanish residency-by-investment program (aka Golden Visa) essentially grants a right to legally reside in Spain in exchange for an investment into a property (or properties) worth a minimum of EUR 500,000. 

By extension, a Spanish Golden Visa holder (and all qualifying family members) may opt to work and study in Spain without the need to further secure an additional work or study permits.

The Spanish Golden Visa also offers a certain mobility within other Schengen countries under normal circumstances. Migration and mobility policies do not necessarily apply during the time of COVID19 and other pandemics. 

The Golden Visa is notably popular in the Philippines. It provides a path for Filipinos to obtain citizenship after two years and therefore secure a Spanish passport. However, careful consideration should be given to applicants looking at the Golden Visa as a path to citizenship.

– Samuel Harvey, Director of Business Development

What are the advantages of getting a Golden Visa for Spain, compared to getting one from neighboring Portugal?

The main factors which differentiate the Spanish and Portuguese programs are residency, options for investment and the citizenship path. 

RESIDENCY REQUIREMENTS: SPAIN vs PORTUGAL

Portugal has a residency requirement of roughly a week per year in order to maintain the Golden Visa. Meanwhile Spain doesn’t have a residency requirement. A point for Spain. Click here to contact the Harvey Law Group.

Options for a Golden Visa

Spain in mainly popular for its real estate investment option, whilst Portugal offers multiple investment options for potential investors. A point for Portugal. 

The most popular options among our clients for a Portugal visa include: 

• Minimum investment of EUR 350,000 into an investment fund
• Minimum investment of EUR 350,000 into a qualifying real estate property in need of refurbishment 
• Minimum investment of EUR 500,000 into at least one real estate property
• Commitment of EUR 175,000 into an incubation program under the Start-up Visa program.

Path to Citizenship

Portugal also provides a route to citizenship after five (5) years. On the other hand, for non-colonized countries, Spain is also open for citizenship but only after 10 years. Filipinos and citizens of other countries once colonized by Spain may be able to receive a Spanish passport as early as two years after receiving the first residency visa. 

Once citizenship is secured, according to the latest data from IATA, Spain has a slight advantage regarding its passport strength since it currently provides visa-free access to 188 jurisdictions. Meanwhile Portugal has access to 186 jurisdictions. 

What are the major hurdles for a Golden Visa from Spain?

There is no hurdle in applying for the Golden Visa so to speak. However, there is a note to be made about the misconceptions that several Filipinos have on the differences between what the Golden Visa is, the path to citizenship, and the requirements (and potential impact) of becoming a Spaniard on one’s wealth situation.

The Spanish Golden Visa is fairly straightforward. It has neither residency, language nor test requirements. Renewing this Golden Visa every two to five years is simple and the fees are minimal. As long as the applicant maintains the investment and continues to respect the initial requirements, the Golden Visa can be renewed. Click here to contact the Harvey Law Group.

How do I acquire Spanish citizenship?

The path to citizenship is a different story. To qualify for citizenship in Spain, one must speak Spanish. The applicant must also demonstrate proficiency on Spanish culture and history in Spanish via an examination.

Nationals from non-colonized countries may need to relinquish their former citizenship and application will probably take ten years. Filipinos will need two to three years and they can retain their Filipino citizenship. 

What is the approximate total outlay for a successful Golden Visa from Spain?

There is no ‘one size fits all’ as the total outlay varies depending on the family constitution, as well as the property type and location. If the minimum investment is set at EUR 500,000, the investor should expect to pay an additional EUR 50,000 to 75,000. This is for the various taxes and fees associated with the property.

In addition, there are third party disbursements such as government and application fees, alongside professional legal fees. Total outlay will be a minimum of EUR 575,000 to EUR 600,000. 

How long will the Golden Visa process take?

This varies depending on whether the applicant will (or can) visit Spain or not. Average processing time is between one to four months. I also wish to stress that HLG is still able to process all applications remotely, amidst the current pandemic.

Indeed, all meetings with our counterpart in Spain, the selection and purchase of property, the completion of the Golden Visa application, and even a preselection of schools for their children, can be done remotely and through digital means via our firm.  Click here to contact the Harvey Law Group.

Can everyone apply for a Spanish Golden Visa?

The program is restricted to non-EU/EEA nationals. Also, those with past criminal convictions, unpaid debts to Spanish authorities, and record of illegal entry or stay in Spain cannot apply. Politically Exposed Persons (PEP) also require a thorough and extensive legal assessment.

What happens to the Golden Visa if an investor wants to sell the property?

The Spanish Golden Visa is reliant on the property so an investor cannot sell the property before converting the residency permit into a permanent residency status or citizenship in Spain. Once the investor attains either of those status, he or she may dispose of the property without any impact on their immigrant status in Spain.

Would you recommend the Spanish Golden Visa to your clients?

The Spanish program is popular but all programs have their own set of pros and cons. We base our recommendation on the needs and requirements of applicants. It’s our role as legal advisers to give all information to the applicant, to enable him or her to make an informed decision. 

Why should I choose HLG to help apply for the Spanish Golden Visa? 

Our professional duties are to the client. We have seen many ‘consultants’, ‘advisors’ and other questionable individuals presenting the Golden Visa in Spain as an outright ‘Citizenship-by-Investment Program’ or as an easy process to get citizenship.

This is not a true representation of the program. Hiring a non-professional or failing to consider key factors could result in unfortunate financial losses in addition to a potential immigration ban of up to 10 years. Click here to contact the Harvey Law Group.

“Each client should carefully undertake due diligence on both the investment and the service provider. They should also seek professional opinion on the potential tax exposure in both their current country of residency and in Spain. 

“As a law firm, HLG carries out the necessary due diligence and manages the whole process from start to finish. Our integrity is paramount, and we are prepared to go the extra mile for our clients to make sure the chosen program is the right one for them.” 

Harvey Law Group  (HLG) was founded by Jean-Francois Harvey in 1992. Headquartered in Hong Kong, the firm now has over 20 offices worldwide. It has proven expertise on residency, permanent residency, and citizenship by investment. 

Considered a pioneer in the industry, it has advised countless individuals and families on acquiring a second passport. It has also counselled foreign governments on their immigration laws and regulations. 

READ MORE ABOUT CITIZENSHIP BY INVESTMENT & SECOND PASSPORT OPTIONS AROUND THE WORLD

The post How to get the Golden Visa of Spain appeared first on TRAVELIFE Magazine.

WHY APPLY FOR A SECOND PASSPORT?

A second passport acts as a tangible reassurance to our clients at Harvey Law Group that they have the security they need, in case there are ever political uncertainties and economic instabilities in their home countries. In a way, a second passport is like an insurance policy, giving clients peace of mind and a haven to run to in cases of unexpected and unfortunate events.

In addition, passport holders and their qualifying family members gain visa-free status to many countries, along with access to healthcare, education, and other social benefits. Our clients can expand their businesses to key global markets without local partner requirements; as well as undertake more efficient tax and legacy planning. 

WHAT ADVICE WOULD YOU GIVE TO THOSE CONSIDERING APPLYING?

Do your own due diligence. And hire a professional who can offer a comprehensive approach, coupled with extensive knowledge and a track record.

Improvised agents or consultants have misled various clients. In Spain, for example, some agents or consultants promote a citizenship-by-investment program to encourage the purchase of properties. 

However, Spain is actually a residency-by-investment program. As such many of these consultants’ clients bought properties in Spain, expecting a passport in return — even though it will never come. They only learn later on that the process to qualify for Spanish citizenship actually takes years, aside from learning the language and passing a nationality exam.

THE TOP DESTINATIONS IN THE CARIBBEAN

Grenada currently has visa-free access to over 140 countries – including all EU countries, United Kingdom, and China. And applicants do not need to visit the country during or after the application process.

The new Six Senses Resorts & Spa Grenada is also one of the most attractive investment options in the Caribbean. Purchasing a share in the resort entitles the main applicant and all qualifying dependents to Grenada citizenship for life. 

THE MOST UNDERRATED DESTINATIONS

First note: Dominica is different from Dominica Republic. The Commonwealth of Dominica is dubbed as the “Nature Island” and it offers many outdoor attractions. Clients can secure a Dominica citizenship by donating a minimum amount to an infrastructure fund. This fund will be used to build or renovate roads, hospitals, schools or airports. Applicants may also invest a minimum amount into a designated real estate development instead. 

The Harvey Law Group  (HLG) was founded by Jean-Francois Harvey in 1992. Headquartered in Hong Kong, the firm now has over 20 offices worldwide. It has proven expertise on residency, permanent residency, and citizenship by investment.

Considered a pioneer in the industry, it has advised countless individuals and families on acquiring a second passport. It has also counselled foreign governments on their immigration laws and regulations. 

The post A second passport for a better quality life appeared first on TRAVELIFE Magazine.

The quickest and most painless way for visa-free entry to the EU is to apply for a second passport from Cyprus and from countries in the Caribbean. Nationalities from these countries enjoy visa-free access to the EU.

WHY SHOULD FREQUENT TRAVELLERS GET A SECOND PASSPORT?

I can think of two compelling reasons to avail of such flexibility.

GLOBAL MOBILITY

A second passport can grant visa-free access to up to 180 countries including Canada, New Zealand, United Kingdom, and the European Union (EU) and Schengen Zone.

No more waiting in line and money spent on visas and fixers. This will give applicants and their families a lifetime of traveling with ease.

HEALTHCARE & EDUCATION

Applicants and their families will be considered full citizens, eligible for all the benefits of that country. Passport holders of Cyprus or Malta, for example, can live and work in all other EU countries.

The second passport can also be extended to qualifying dependents such as children, parents, and spouse. In some countries, this can even extend to siblings.

Future generations can also be covered by the second passport. Children born after nationality was granted can also qualify for citizenship in certain countries.

IS THERE AN EASY ROUTE TO A SECOND PASSPORT? 

The fastest and most convenient way to secure a second passport is through the investment immigration programs. Less than 10 countries currently offer citizenship programs and the concept remains the same although the process varies slightly per country.

Basically, the applicant donates or invests into designated businesses, funds, real estate properties, or projects in exchange for a full citizenship. This full citizenship can extend to the family as well. The investment usually needs to remain into the country for a specific number of years; then the investment can be withdrawn but the citizenship is kept.  

In contrast, the traditional immigration route for the United States and Canada is often a long and time-consuming process. Applicants are also required to spend a significant amount of time there.

WHAT ARE THE EASIEST COUNTRIES TO ACQUIRE CITIZENSHIP FROM? 

St. Kitts & Nevis, as well as Dominica are Commonwealth countries with low taxes. They also have strong passports that grant access to the EU, and they have relatively quick processing periods. Both have well-run programs.

On the other hand, the most valued country would be Cyprus since EU passport holders have the right to live, settle, study, work and do business anywhere in the EU. This has added significance for businesspersons since they can now conduct business within the EU even without the need of a local partner. 

There are several attractive options and we recommend specific countries based on the exact needs and interests of our clients.

HOW CAN THE HARVEY LAW GROUP HELP TRAVELERS ACQUIRE THIS SECOND PASSPORT?

Each country has its own set of designated investment streams recognized under their citizenship-by-investment program. However, investors cannot apply by themselves. They must hire a registered and recognized agent, consultant, or law firm.

Our firm is duly registered and recognized by each governing body. So we can facilitate the application hassle-free from A to Z. We assist from our first meeting with the client to the receipt of the Certificate of Naturalization and the passports on their behalf.

All the processing, documentation gathering, certifications and even the fingerprints can be done in our office. The entire process is private, confidential, and done by qualified professionals.

The Harvey Law Group  (HLG) was founded by Jean-Francois Harvey in 1992. Headquartered in Hong Kong, the firm now has over 20 offices worldwide. It has proven expertise on residency, permanent residency, and citizenship by investment.

Considered a pioneer in the industry, it has advised countless individuals and families on acquiring a second passport. It has also counselled foreign governments on their immigration laws and regulations. 

HLG team ensures professional legal representation, thus providing extra security for clients. The team also offers corporate services and cross-border transactions to entrepreneurs and corporations looking to expand overseas.

The post Visa-free access to the EU and the United States appeared first on TRAVELIFE Magazine.

WHY SHOULD TRAVELERS CONSIDER A SECOND PASSPORT AS THEIR “PLAN B”?

A second passport is a great mobility perk. But it’s important to note the differences between a passport from an EU country and a passport from a Caribbean country.

A passport from any of the Caribbean countries grants rights to relocate within another CARICOM country. Although it also grants travel access within the EU, you cannot relocate there. Most applicants look at a Caribbean passport from mobility and tax perspectives.

On the other hand, an EU passport will grant rights to relocate within any other EU country, along with travel to a wider range of destinations. So most applicants considering an EU passport may opt to relocate their family to ensure the future of their legacy.

WHAT SHOULD APPLICANTS CONSIDER WHEN CHOOSING A LAW FIRM?

Professionalism: An international lawyer goes through a training process and understands the economics behind having a second passport. This includes visa-free agreements, tax implications, education and social benefits of the domiciled, and legacy planning in accordance with inheritance rules.

Liability: While not all fly-by agents or consultants are scammers, their professional liability can be limited and applicants might not be properly covered in case of a fallout in the application process.

Interest: A law firm should act in the interest of their clients, not their own. As much as I would prefer recommending Cyprus to all my clients, I must take into consideration their needs; this includes budget, family members, traveling habits, and tax exposure. 

ABOUT HARVEY LAW GROUP

Harvey Law Group (HLG) was founded by Jean-Francois Harvey in 1992. Headquartered in Hong Kong, the firm now has over 20 offices worldwide. It has a proven expertise on residency, permanent residency, and citizenship by investment. Considered a pioneer in the industry, it has advised countless individuals, families and foreign governments on their immigration laws and regulations.

The Harvey Law Group team ensures professional legal representation, thus providing extra security for clients. The team also offers corporate services and cross-border transactions to entrepreneurs and corporations looking to expand overseas.

Click here to contact Samuel Harvey

The post The value of the golden passport appeared first on TRAVELIFE Magazine.