Grenada relies on tourism, agriculture and foreign investment for a strong economy. Obtaining the CBI passport offers many advantages, including tax exemptions and access to one of the best universities in the Caribbean. This makes the program a coveted choice for individuals seeking second citizenship without many hurdles.
Tax-Free Living
The Caribbean island nation of Grenada has plenty to offer tourists – from its breathtaking beaches (including the top-rated Grand Anse) to its wild rainforests and lush spice plantations. But its CBI program is more than just a tourist visa: it provides you and your family with an alternative lifestyle in case of global instability. It offers tax breaks for your entire household. Grenada’s citizenship by investment program is attractive for high-net-worth individuals because it provides many benefits, including visa-free travel to over 100 countries and a favorable tax regime. It also allows you to pass down your citizenship to future generations. To qualify for the program, you must make a non-refundable financial contribution of at least $150,000 through an approved real estate project or a donation to the National Transformation Fund. You must also meet certain eligibility requirements and undergo a rigorous due diligence process. You may hire professionals to assist you in the application process, but they charge their fees, which can vary based on their expertise and level of assistance. Unlike some other CBI programs, Grenada has no age or dependency restrictions. You can include your spouse, children under 30, parents, and siblings in your application. However, all applicants must undergo thorough due diligence and comply with the regulations set by the Grenada government.
Quick and Easy Application Process
Whether you’re a successful entrepreneur looking to diversify your assets, a family seeking a Plan B in the event of global instability, or someone who wants a vacation home and access to high-end tourist real estate, Grenada’s Citizenship by Investment Program offers some benefits. It’s one of the world’s fastest and easiest economic citizenship programs. You can be a citizen in as little as six months after you’ve made your contribution or purchased real estate and fulfilled the government’s due diligence requirements. In addition, the application process is straightforward to navigate. You’ll work with an agent to gather and submit the requisite documents to the Grenadian authorities. Your agent will act as a go-between for all correspondence with the local authorities and handle all the legalities for you, ensuring your paperwork is accurate and complete. Another nice thing about the real estate investment option is that you can choose from a list of pre-approved properties and visit your property while it’s in development. The only catch is that you must retain the property for five years to maintain your citizenship. This is a small price for an incredible second passport that grants you visa-free travel to 147 countries, including China, Russia and the U.K.
Security
Grenada is among the world’s safest countries and is highly regarded for its security measures. The nation is a member of the Commonwealth of Nations and has treaty relations with the United States and China. Grenada also has a strong judicial system and a reputation for being a friendly and welcoming place for investors. The nation’s CBI program was started in 2013 to transform its economy and become more financially stable. The government’s National Transformation Fund is an important program component, as it directs monetary investments to critical areas like tourism and alternative agriculture. These initiatives are important to Grenada, a small island country that regularly faces setbacks due to hurricane damage. In addition, Grenada has strict due diligence requirements. This includes a background check and verification of financial assets and business activities. Grenada also provides tax incentives for citizens who develop businesses on the island, so second citizenship in this Caribbean country can positively impact your finances and lifestyle. Acquiring a Grenada citizenship by investment takes 4 to 6 months. This is a little longer than some of its Caribbean counterparts, but this is due to the nation’s rigorous checks and balances. The country requires developers of real estate projects to invest at least 20% of their funds into each project. This is designed to keep developers accountable and ensure they’ll complete their projects on time and within budget.
Visa-Free Travel
Launched in 2013, Grenada’s CBI program is a testament to the modern world’s evolving concept of global citizenship. It allows individuals and their families to obtain second citizenship and a passport within an astoundingly short 4-6 months on average without requiring language proficiency tests or history exams. The program is also a powerful option for those who want to take advantage of Grenada’s high-quality health care and education. With a second passport, citizens can travel to 144 nations and territories, including Russia and the Schengen region of Europe, without a visa. In addition, holders can work and live in the United States, as Grenada has an E-2 Investor visa treaty with the US.
To become a Grenadian citizen, applicants must invest in one of the government’s approved real estate projects or contribute to the National Transformation Fund. The licensed agent handles the application process, will submit all necessary documents and act as a go-between for any correspondence with the Grenada immigration authorities. Investors can proceed with the final investment when the required documentation is in place. The agent will collect all fees for the purchase of real estate or the contribution to the National Transformation Fund and conduct due diligence on behalf of the investor and their family members.
