Grenada has a pretty unique Citizenship by Investment (CBI) program, which stands out from the other CBI programs in the Caribbean region. You can acquire citizenship either by donating USD 150,000 to the government of Grenada or investing upwards of USD 220,000 in approved real estate projects. Investment in real estate can be sold after 5 years.
The pandemic has seen a surge in applications for the citizenship programs of smaller island nations such as Grenada, since they are considered safe havens at times of a pandemic. With small populations and remote locations, these destinations are an ideal getaway in times of crisis such as the present pandemic.
Some of the reasons why you should choose to become a citizen of Grenada are –
- Isle of Spice : Grenada is also known as the “Isle of Spice” due to its production of nutmeg and mace crops. The island has an array of spices including cinnamon, cloves, turmeric and saffron.
- Minimal Requirements : You do not need to meet any criteria for education, business/management experience or language proficiency. Further, there is no mandatory requirement to reside in Grenada after obtaining citizenship.
- Route to America : Grenada has an E-2 investment treaty with the United States. Hence, as a Grenadian citizen you can apply for the E-2 visa by establishing a new business or investing in an existing business in the United States. The E-2 visa allows you to stay in the US for as long as you are running that business. It is cheaper than the EB-5 investment visa and you can be in the US within 6 months.
- China : Due to the extremely good relations between Grenada and China, both countries have a mutual visa waiver agreement, the only Caribbean citizenship program to have this privilege. Both countries also have diplomatic representations in each other’s countries. This enables you to travel to China VISA-FREE as a Grenadian citizen.
- Commonwealth : Grenada joined the Commonwealth in 1974 and has been a member ever since. Grenadian citizens are also commonwealth citizens.
- Caribbean Community : Grenada is a member of the Caribbean community of member states – CARICOM, which allows issue of Caricom passports to Grenada citizens to travel freely within all member states.
- Diplomatic representations : Grenada has a good list of embassies and consulates worldwide (Europe, UAE, USA, UK) to serve its citizens providing consular services.
- Real Estate : The real estate market in Grenada has grown steadily over the years due to increase in international visitors and cruise ship arrivals. The CBI program has also contributed to the demand for investments in 5-star hotels and resorts.
- A complete CBI program : The Grenadian citizenship by investment is a complete citizenship package. It comes with all citizen benefits – voting rights, working for government or public offices and engaging in political affairs. Citizenship can also be passed down further generations.
- Education : Grenada has excellent schools and the world-famous St. George University for medicine. Further, education in Grenada is free and compulsory between the ages of 6 and 14 years. St George university founded in 1976 is a top medical school of international education, drawing students and faculty from 140 countries. The university’s 22,000 graduates include physicians, veterinarians, scientists, public health and business professionals from around the world.
- Powerful Passport : Holders of a Grenadian passport can enjoy visa-free travel to the EU, UK, Russia, China, Indonesia, Brazil, South Korea, etc (144 countries and territories)
- Flight Connections : Grenada is well-connected by international airlines operating from USA, UK, Canada and the EU. Currently, the borders are open with quarantine conditions.
- Family Friendly : You can include your spouse, biological or adopted children under the age of 30 years, parents/grandparents of any age, and biological or adopted siblings who are at least 18 years of age, single and childless, of both the applicant and the spouse, all in one application. Married or gainfully employed children cannot be included.
- Tax Benefits : Grenada provides HNWIs to lessen their tax burden. It does not tax foreign income, wealth, gift, inheritance or capital gains. Hence, you are NOT required to report your global business operations and income to the government of Grenada.
- Business Benefits : If you decide to do business in Grenada, you might be eligible for generous incentives for your industrial project. Further, the currency of Grenada (ECD) is very stable, being pegged to the USD at the same rate for the last 40 years.
- Licensed Agents : Grenada has appointed two layers of licensed agents (authorized agents and marketing agents) to accept applications. The local authorized agent can only submit an application directly to the CBI Unit by quoting the marketing agent. The client files must pass through the marketing agent to local agent and then to the CBI unit.
Invest in the Grenada Citizenship to avail of all of the above benefits. Contact us to know how to apply.
