Grenada offers the newest citizenship by investment program in the world, whereby wealthy foreign investors can obtain a second passport through an investment in the country’s economy. This Caribbean nation has spent significant amounts in order to rebuild the infrastructure that was destroyed by hurricanes two years in a row. The country’s economic growth is largely based on tourism and exports of spices (Grenada is known as the “Spice Isle”), and it welcomes the financial support from investors to help rebuild its battered economy.
Acquiring a second passport has become a popular method for the wealthy to build a safe haven for their families if their home country is politically unstable, to lower their tax bills, and to give their children the opportunity to attend prestigious schools, among other benefits. So, what are the benefits of Grenada specifically?
A path to prestigious countries
Grenada boasts beautiful beaches and a luxury real estate market, however, one of the biggest appeals of a second citizenship from Grenada is that it is a way into countries like the U.S. and the U.K. As a member of the Commonwealth nations, Grenadians are granted visa-free travel to the U.K. In addition, Grenadians can obtain an E-2 visa in the U.S. through investment, a permit which grants the right to live and work in the states that can be renewed indefinitely.
There are no income, capital gains, or inheritance taxes levied on new citizens. Transferring one’s wealth to Grenada would be a means to ensure stability of assets. This is especially important to the super wealthy as immigration to another country could mean giving up a significant portion of wealth to the government. Even Americans are giving up their citizenships in increasing numbers and moving to Grenada to escape the taxation in the U.S.
No language, education, or management experience necessary
Not only is an interview not required for Grenada’s citizenship by investment program, but neither is language proficiency, education, or management experience. There are no entry tests, and this English-speaking nation is open to accept speakers of all languages. You must have sufficient funds to complete the required program investment, as well as a clear criminal record of course.
Family that can be included
Unlike other similar programs that include dependent children up to the age of 18, Grenada’s citizenship by investment program allows dependent children up to 25 years old to be included in an application. What’s more, dependent parents over 65 years of age can also be included. Investors are therefore securing a future for themselves, their spouse, children, and parents.
A cheap investment opportunity
Grenada offers one of the cheapest second passport programs in the world. Citizenship can be obtained for the entire family with a small investment of US$200,000 to the National Transformation Fund. A real estate option is also available for an investment of US$250,000 in a government approved property. Compared to programs in Europe that can cost up to millions of dollars, this program won’t break the bank for the wealthy.
No residency or visit requirements
Investors are not required to travel to Grenada during the application process, nor live in Grenada for any period of time once citizenship is obtained. Similar programs require the applicant to be physically present in the country of application for a specific number of days. A Grenadian passport can be obtained and citizenship maintained without ever stepping foot in the country.
How do I apply?
Contact our office today to start the application process. A second passport to Grenada can be obtained in as little as four months. The Grenadian government is aiming to accept 100-150 applications per year; let’s make one of those applications yours!
For more information on Grenada’s Citizenship by Investment Program, please click here.
Fill out our Free Assessment to find out if you qualify for any of the immigration programs offered.