Grenada, the ‘Island of Spice,’ is an idyllic Caribbean destination known for its immaculate beaches and luscious natural environments. The nation also boasts one of the strongest economies in the region.
Grenada’s CBI program allows investors to obtain a passport within a short turnaround time through either a real estate investment or a donation to the country.
The Caribbean island nation known as the ‘Island of Spice’ is a popular destination for high-net-worth individuals seeking second citizenship and passport. Grenada’s citizenship by investment program allows qualified applicants to become global citizens with a fast turnaround.
In addition to visa-free travel, investors benefit from a strong economy, a pristine natural environment, and top schools and universities. Grenada’s CBI program is not the cheapest, but its stability and ability to offer dual citizenship are unmatched in the region.
Grenada’s CBI program requires the applicant to make a government-approved real estate or fund contribution investment. Unlike other CBI programs, Grenada doesn’t require residents to live in the country for any time. Additionally, the country has no capital gains, inheritance, or withholding taxes and offers duty-free trade. The minimum investment can also be used to purchase a new property in one of Grenada’s government-approved real estate projects, including hotels, villas, and holiday resorts. Once the required holding period is completed, investors can resell for a profit and return their initial investment.
No Capital Gains Taxes
Unlike the fund donation route, Grenada’s citizenship by investment program offers a tangible asset you can sell, so you won’t have to worry about capital gains taxes. Furthermore, your investment will allow you to travel visa-free to 130 countries (including China) and boost the country’s economy by contributing to tourism, agriculture, and alternative energy.
Another benefit of investing in Grenada is that it allows you to pass on your citizenship to your family members, including children and grandchildren. It is an excellent option for families who want to secure a better future for themselves and their loved ones.
In addition, Grenada’s citizenship by investment program has one of the shortest processing times in the world. You can get a passport at least three months after submitting your application. It is an excellent feature, especially if you want to travel quickly and easily. It also allows you to live and work in any country you choose and access top schools and universities.
No Inheritance Taxes
Grenada’s government does not impose inheritance taxes, so CBI applicants and their families can receive citizenship without paying additional fees. As a result, the island nation is becoming an increasingly popular choice for high-net-worth individuals looking to take advantage of its tax benefits.
In addition to no inheritance taxes, the country offers many other incentives for investors. For example, citizens can enjoy duty-free trading and a diversified economy that includes tourism, agriculture, manufacturing, construction, and transportation. In addition, the ‘Island of Spice’ has some of the most beautiful natural environments in the Caribbean, including numerous gorgeous beaches.
If you opt for the real estate investment option, you must hold your property for five years to qualify for citizenship. However, you do not have to reside in the country at any time during that period. Furthermore, buyers of properties such as hotels and resorts can usually visit their investments throughout the year. Meanwhile, those who invest in alternative energy projects can visit their properties once or twice a year.
Visa-Free Travel to Over 140 Countries
Second, citizenship can be a powerful asset in unpredictable economies and politics. Grenada’s Citizenship by Investment program is affordable and fast, and it offers a range of benefits.
Investors can qualify for citizenship and a passport by purchasing pre-approved real estate or contributing to the National Transformation Fund. Both options offer visa-free travel to over 140 countries, including the United States (on an E-2 visa).
Applicants can include family members, such as spouses, children under 30, parents, and grandparents, in their application. They can also retain their current citizenship if they wish.
A qualified immigration professional can help ensure your application meets the Government of Grenada’s high standards. Applications that meet the requirements will be accepted, so working with a trusted and experienced team is essential. The entire process can be completed remotely, with all communication with the government handled by an authorized agent. It makes the process easy and stress-free.
A Simple Process
Grenada’s program is the most straightforward regarding acquiring second citizenship through investment. It doesn’t have a list of ineligible nationalities and accepts politically exposed persons (PEPs).
Investors can buy real estate or contribute to the country’s state fund. The government does extensive due diligence on each applicant before making a decision. It helps ensure that applicants use money wisely on something that won’t pay off.
The government has also instituted new rules to keep real estate developers accountable. The Grenada CBI program now keeps real estate investors’ funds in escrow rather than handing them over to the developer immediately. It will force developers to have their own money vested in the project and make them more careful about the projects they pursue.
The government’s ten-person team answers directly to the prime minister and individually assesses each application. The process is streamlined to minimize time and costs for investors and their families.