Grenada
About
Grenada, known as the ‘Isle of Spice,’ is one of the most beautiful islands in Caribbean. Unspoilt and exotic, it astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations, and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices. Grenada citizenship offers visa-free travel to 131 countries including the United Kingdom, Schengen area & China. It is one of only three countries in the Caribbean with access to the USA E-2 treaty which allows investor visa & residency in the USA.
Grenada Citizenship by Investment
The Grenadian parliament passed the Granada Citizenship by Investment Act in August 2013. This investment program is a government initiative that allows individuals and their families to acquire citizenship in Grenada. Not only does it provide visa-free or visa-on-arrival entry to 143 countries, including important regions, but it also makes it easier to obtain the United States E-2 Treaty Investor visa. Furthermore, Grenada’s tax policy, which excludes foreign income and inheritance taxes, makes the program appealing to foreign investors.
Grenada Citizenship Benefits
- Visa-free travel to 131 countries
- No tax on global income
- Allow Dual citizenships
- No tax on wealth & inheritance
- No capital gains tax
Capital city
Saint George’s
Currency
East Caribbean dollar (EC$)
Population
113,300 approx.
Official language
English
Total area
334 square km
Nearest country
Venezuela and Trinidad and Tobago to the south, and St. Vincent and the Grenadines to the north.
Why Grenada
Prominent Visa free countries
Uk, China, Schengen Area, Brazil Colombia, Hong Kong, Indonesia, Kenya, Malaysia, Panama, Russia, Singapore.
Things to know while applying for Citizenship in Grenada
When applying for Citizenship by investment in Grenada, it’s essential to be aware of several important factors :
Eligibility Criteria:
- Applicants must be at least 18 years old with a good character and good health.
- No criminal history is allowed; applicants will undergo a thorough background investigation.
- Be ready to provide evidence of the source of funds to prove legality.
Investment Options:
- Eligible investments include real estate investment or government donation.
- Documents confirming your investment choice will be required.
Required Documents:
- A range of documents must be submitted for immigration to Grenada including personal information, biometrics, medical reports, proof of employment and source of funds, investment-related documents, passport copies, etc.
Application Process:
- The application process is relatively swift, with approvals typically granted within 120 days for real estate investments.
- Residency in Grenada is not required for citizenship approval.
Tax Implications:
- Citizenship in Grenada offers low tax rates with no capital gains, inheritance taxes, income tax, or wealth taxes on worldwide income and properties.
- Benefits also include no restrictions on imported capital, tax relief benefits, and export allowances.
Dual Citizenship:
- Grenada allows for dual citizenship, providing additional opportunities and expanded privileges.
- Privacy is maintained, as your original nationality may not need to be disclosed.
Family Inclusion:
- The program accommodates additional family members, including spouses, children, parents, unmarried siblings, with access to top schools and universities.
Validity of Passport:
- Initially, a Grenadian passport is valid for 5 years, with the potential for indefinite extensions.
Cost of Living:
- Grenada offers a relatively low cost of living compared to other Caribbean nations, with quality healthcare and affordable public services.
Citizenship By Investment
Real Estate Investment- One of the options available to applicants seeking to obtain 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. There are fees and taxes to pay in addition. Applicants must be of outstanding character, in good health, of high net worth and with no criminal record. There is no requirement to visit for an interview for the Grenada citizenship program and in fact there is no need to travel to the country to complete the application.
Donation- Citizenship by donation is available in Grenada from $150,000 for single applicants and $200,000 for families of up to four persons. A non-refundable contribution is payable to Grenada’s National Transformation Fund. In addition to the donation one has to pay government fee. The amount depends on the size of the eligible family members included in the application.