Being located on 133 square miles of beaches, trails and beautiful houses painted in all possible colours of the rainbow, Grenada is a perfect place for a vacation. Or even for doing business. Nutmeg is the country’s major export product, the island produces twenty percent of the world’s total nutmeg it is therefore referred to as the spice island. This is widely known for having extra friendly people who are welcoming, which makes this the best country for investing in a second passport. Moreover, some benefits can be provided only by Grenada and due to this fact, the above-mentioned path is rather interesting for interested families.
This implies that business people can use immigration to Grenada to undertake business due to investment investment-friendly environment, tax and incentives and investment-based citizenship.
Here’s an overview of the process and requirements
Below is a general flow and the criteria you should meet for each step:
Investment Options for Immigration
Citizenship by Investment Program (CIP): Citizenship by Investment Program (CIP).
National Transformation Fund (NTF): Amount that cannot be returned to the NTF. To apply the tool, the minimum amount required is $ 150,000.
Real Estate Investment: Investment in a real estate government-approved project which costs not less than two hundred and twenty thousand US dollars. Such funds have to be mobilised and kept for not less than five years.
Key benefits
It includes the following advantages:
Visa-Free Travel
At present, Grenada is 61st in the world and its citizens can travel to over 141 countries without a visa. Or get a visa upon arrival in such countries as Schengen states, the United Kingdom, the People’s Republic of China, the Russian Federation and others.
E-2 Visa Treaty
Unlike most other countries, Grenadians are fortunate enough to be a part of the US E-2 Investor Visa which allows a person to do business and reside in the United States.
Tax advantages
You have zero percent income tax on any income generated within the country for individuals who are residents, zero percent inheritance tax, and zero percent capital gains tax.
Eligibility Criteria
- Age: The candidates are to be of 18 years of age and above.
- Health: An applicant should not have had record of any illness.
- Character: The candidates should not have any criminal record to enable them to work effectively and without any hindrances.
- Financial: To ensure that no Proceeds from ill-gotten business is used, documentation of the origin of the investment is done.
Application process
It entails the following:
Choose an Investment option
Decide whether it is worth to proceed with the donation of NFT or buy a real estate property.
Prepare documentation
The documents required include scanned copies of passport, medical reports, police clearance certificates and proof of funds.
Submit application
Apply for the Grenada Citizenship by Investment Committee (CBIC) with assistance of the approved local agent.
Due Diligence Checks
After that, it is required to analyze the due diligence checks performed by the CBIC.
Approval and Investment
As a result of approval, pay the amount or donate as the situation maybe.
Receive Citizenship
Take a copy of your Certificate of Registration and your passport.
Additional Information
Family Members: This is the type of dependents that can be included in the application, spouse. Any child below the age of 30 years and parents or grandparents who are over 55 years of age.
Processing Time: It generally takes about 3-4 months to design as well as develop the website.
Conclusion
Another efficient way of obtaining the citizenship is the Grenada Citizenship Scheme in case of large investment or real estate property. The opportunities are in visa-free travelling, a potential chance to immigrate to the United States under the E-2 visa, and favorable taxation.
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