If you’re interested in obtaining a second passport, you may want to consider investing in Grenada citizenship. The country offers a fast and affordable way to get citizenship.
Grenada’s citizenship by investment program focuses on economic growth and creating job opportunities for local people. It also offers a host of benefits.
Benefits
When you become a citizen of Grenada, you’re investing in an island paradise. Located in the Caribbean, this island is home to breathtaking beaches, a lush rainforest, and mountain peaks. The climate is pleasantly warm year-round, making it an attractive destination for travelers worldwide.
Grenada’s citizenship by investment program attracts the attention of many high-net-worth individuals looking to secure their families’ global mobility and safeguard their wealth. Among the benefits, Grenadian citizenship by investment provides visa-free travel to 153 countries, which means less time spent traveling and more growth opportunities.
Another benefit of Grenada’s citizenship by investment is the lenient tax system that suits international investors. It offers no capital gains, inheritance, or wealth tax on worldwide income and assets.
Alternatively, you can invest in real estate and contribute to the National Transformation Fund, which helps the country repair roads, bridges, and hospitals. This option requires a real estate purchase that you will own for at least five years.
Citizenship by investment is a straightforward process that appeals to investors looking for a second passport. Once approved, the Government will send your ticket to you within 30 days of the investment or donation being complete.
Requirements
If you’re interested in becoming a citizen of Grenada, it’s essential to understand the requirements. You need to have a good credit history, clean criminal background, and prove that you can support yourself financially.
To obtain citizenship, you can donate to Grenada’s National Transformation Fund or buy government-approved real estate on one of the islands for a minimum investment of USD 350,000 plus a government fee of $50,000. You can also invest in a joint project with a related applicant to get your investment down to $220,000 per person. Still, you must pay a separate government processing fee for each application.
In addition, Grenada citizenship by investment regulations is a popular option for high-net-worth investors who want visa-free access to more than 140 countries. It is available for anyone with a substantial net worth and a clean criminal record and is offered to their family members.
To qualify for citizenship, you must be 18 years old, have a clean criminal background, and be healthy. You can apply alone or with your family, as long as everyone is willing to participate and provide all necessary proof of funds.
Taxes
Grenada has no taxation on income or dividends from a foreign source for those with citizenship. Citizens are also free from inheritance tax, capital gains tax, and stamp duty.
However, the rate of taxes you pay in Grenada depends on your status as a resident in Grenada and how much money you earn from there. A tax resident is a person who lives in the country for more than 183 days a year or a company that owns a property, has an office in Grenada, and earns income from there.
The Government of Grenada does not charge property tax on real estate purchases if you purchase a piece of land or a house under the investment passport program. Those not eligible for a citizenship-by-investment passport may still be required to pay a property transfer tax when selling their property.
One option becoming more popular among international buyers is investing in a pre-approved real estate project. This allows you to own a piece of property. Still, it also comes with a citizenship-by-investment passport, which means you’ll be able to visit that property during the holding period and sell it without paying capital gains tax on any profits.
The Grenada citizenship-by-investment scheme offers a fast route to citizenship ( 3 months) for a relatively low cost. Moreover, it provides tax benefits and visa-free travel to countries that are difficult to get to, as well as business opportunities and an E-2 visa for the United States.
Security
Whether you’re looking to take a last-minute trip abroad to secure that life-changing business deal, shield your children from socio-political unrest, or want a passport that allows you to travel visa-free to countries like the United States, obtaining second citizenship can be a powerful tool.
Investing in Grenada Citizenship will instantly multiply your opportunities for global mobility, financial security, and, most importantly, peace of mind. This alternative residence will protect your family from petty crime, environmental threats, and socio-political instability.
The coveted Caribbean island of Grenada is one of the safest places in the world. It has numerous attractions that attract high-net-worth individuals to the country, including the world-famous Grand Anse Beach, 15 waterfalls, five chocolate factories, and three rum distilleries. Its economic growth is based on tourism, agriculture, and alternative energy, making it a strategic investment destination.
However, security measures must be maintained while tourists are visiting the country. The Government has put in place a security plan to keep tourists safe from terrorism, natural disasters, and other threats.
The investment process is straightforward, and investors can choose to make an independent real estate investment or contribute to the government-approved Grenada National Transformation Fund (NTF). Applicants must submit their application and pay the necessary fees to the Government and authorized international marketing agents. These fees include due diligence, state duties, fees, services for registration and translation of documents, and the cost of a passport.
