Investors can obtain a second passport from Grenada to accelerate their success and create global opportunities. Along with enhanced international mobility, Grenada’s economic citizenship brings a sense of stability and cost-effective investment plans, in addition to tax reliefs.
Grenada’s citizenship by investment program is genuinely a hotspot on the landscape of the investment migration market, as it offers unique benefits to investors. Along with a second passport from Grenada, foreign investors and their family members can gain many other perks and all through a robust and easy application process.
First, the Grenadian citizenship by investment scheme was incepted back in 1992 but was suspended after the 9/11 terrorist attacks in 2001. The program was reformed and re-launched in August 2013, and since then, it maintains popularity among high-net-worth individuals.
Investors can obtain Grenada’s passport by contributing at least USD 150,000 to the National Transformation Fund (NTF) or investing at least USD 220,000 in a government-approved realty project.
Citizenship for Generations
Family members can be included in the CBI application with a cost of USD 25,000 per dependent. The Grenadian citizenship by investment program allows an applicant to include siblings of both the applicant and spouse as well as their parents. Also, Dependent children up to the age of 30 and parents and grandparents above 55 can be included and do not have to be financially dependent. In contrast, other programs require a dependent child to lean financially on the applicant. Being a Grenadian citizen, you benefit a lifetime citizenship that is passed to further generations. Notably, dual citizenship is allowed in Grenada, which means that citizenship by investment investors are not required to renounce their original citizenship.
Fast and Straightforward Application Process
It takes around 120 days to accomplish the citizenship by investment application process. With the help of specialists from authorized agents, investors can get a second passport without hurdles. Even visiting the island is not required to gain citizenship. Applicants do not have to pass any interview or language tests, neither proof of any exceptional work experience is needed.
The USA E-2 Visa Opportunity
Grenadian citizens are eligible to apply for an E-2 Investor visa in the USA, as since 1989, a special treaty between governments of two countries – USA and Grenada, is under effect. Holders of E-2 visas are allowed to conduct business, work, and live in the USA. This visa can be prolonged for indefinite times for as long as the investor’s business is in operation. Investors can opt for franchises if they do not know which type of business they wish to run in America.
Increased Global Mobility
The Grenadian passport holder can travel without visas or obtain visas on arrival to more than 140 jurisdictions all over the world, including a 6-month stay in the UK, visa-free access to the European Schengen states, Russian Federation, China, most of Latin America and many other global or regional financial and economic hubs.
Tax Heaven
With Grenadian citizenship, many businessmen can relief their tax burdens. There is no tax on worldwide income in Grenada, neither inheritance tax nor wealth tax and capital gains tax. There is also no restriction on imported capital or the repatriation of profits. Corporate tax is exempted, like import duties and many tax relief benefits exist, including export allowances. Hence, the country is attracting people seeking a second passport for sorely tax purposes. In a tax heaven like Grenada, investors can protect their wealth and create better opportunities for future growth and business expansion.
No Residency Requirement
Grenada does not ask its economic citizens to reside in any period of time in the country. Investors can maintain their Grenadian citizenship without even visiting the island. All jobs regarding citizenship by investment applications are performed by specialists from authorized agents, but applicants are required to provide all required documentation and pass due diligence tests.
Political Stability
Grenada is a parliamentary democracy with a British system of governance. The Head of State is the Queen Elizabeth II, and the executive power is led by the Prime Minister and the cabinet. General elections are held every five years. The State has a stable political system, and the authorities always ensure that the rights of all investors will be preserved.
High Quality of Life
Many investors, especially from African and Asian countries, surprisingly find out that Grenada boasts a high quality of life. Its citizens have access to world-class healthcare facilities and educational institutions. They also enjoy access to basic amenities like developed road infrastructure and food supply among others. The State proves to be safe to visit and live in with a very low crime rate and no terrorism challenges.
Cost-Effective Investment
As the tourism sector is growing, investing in a realty sector in Grenada can be very profitable. Experts predict a constant growth in the tourism industry after the Covid-19 pandemic is over. Investors choosing a real estate investment option under the Grenadian citizenship by investment program can count on high returns on investment (ROI). The investment that qualified for citizenship by investment application should be maintained for at least 5 years. After this period, the investor can sale the investment, and the next purchaser is also eligible to apply for citizenship under the program.
Conclusion
It is already two years that real estate developers in Granada who want to qualify under the citizenship by investment program should have equity funds totaled to at least 20% of the total project cost. Otherwise, they won’t obtain the government’s approval for their realty project to be enrolled into the program. This means that investment will be better protected and secured.
Grenada is trying to develop the tourism industry, and the CBI program is a key instrument to achieve that goal. Funds from citizenship by investment scheme are accumulated to develop tourism infrastructure, including luxury five-star resorts and hotels.
The demand for Grenada’s citizenship is on the rise – high net worth individuals from Asia, Middle East, and Africa are eagerly investing in Grenada and obtain second passports for them and their family members. The ‘Isle of Spice’, as Grenada is nicknamed, is permanently moving forward to improve its attractiveness and maintain the integrity of its citizenship by investment program.