If you are looking for an easy way to obtain a second passport, look no further than Grenada citizenship by investment. This program is one of the most straightforward and efficient in the world, and it offers many benefits that are sure to appeal to anyone looking for global mobility. For starters, visa-free travel to over 150 countries and the ability to work and do business in any of the European Union member states.
Keep reading as the following discusses the top three benefits in more detail.
Cost-Effective Route to Citizenship
One of the main reasons immigration to Grenada is so popular is because it is one of the most cost-effective routes to a second citizenship. The program requires a minimum investment of just $150,000, making it significantly cheaper than programs like those offered by St. Kitts and Nevis or Antigua and Barbuda. What’s more, Grenada offers two options for meeting the investment requirement. For those who want to make a real estate purchase, the government has designated a number of approved properties that start at $150,000. Alternatively, investors can choose to make a non-refundable donation to the Grenada National Transformation Fund, which starts at $220,000.
Strong Passport
Another big selling point of Grenada citizenship by investment program is the strength of its passport. With visa-free travel to over 150 countries, including the UK, Canada, China, Singapore, Hong Kong, and the Schengen Area, Grenadians enjoy some of the best global mobility in the world. And as a member of both CARICOM and the Commonwealth, citizens also have access to a number of special programs and privileges, such as free trade and movement within those regions. In addition to all this, Grenada’s passport ranks high on several important measures. For example, it is ranked 28th in terms of overall freedom by the Henley Passport Index and offers visa-free travel to more destinations than passports from larger economies like Australia, Japan, and the United States.
Fast Processing Time
One big advantage of the Grenada citizenship by investment program is its fast processing time. The government is committed to processing applications within three months, which is significantly faster than programs like those offered by Dominica and St. Lucia. From the date of submitting the form, your application will be processed, and you will receive your citizenship within 3-4 months. The best part is that you don’t have to be in the country or live in the country for a specific period of time since the program is entirely immigration by investment.
No Residency Requirements in Grenada to Maintain Citizenship
Another big perk of Grenadian citizenship is that there are no residency requirements to maintain your status. This means that you can live anywhere in the world and still keep your passport. Of course, if you do want to live in Grenada, there are plenty of reasons to consider it as your primary residence. The country is well known for its beautiful beaches, lush rainforests, and laid-back lifestyle. It’s also a great place to invest in property, as real estate prices are very reasonable compared to other Caribbean countries.
Everyone from the Family can be Included in the Citizenship Application
When you apply for Grenada citizenship by investment, you have the option of including your spouse and dependent children in your application. This is a great perk for families who want to enjoy visa-free travel and live in a country with great weather, beaches, and lifestyle. The government also offers a number of programs to help investors immigrate to Grenada, such as the Investor Assistance Program. This program provides financial assistance to those who are interested in investing in approved projects in Grenada. And the best part is that disabled children can apply for citizenship, regardless of their age.
No Taxation on Worldwide Income for Citizens
One of the biggest selling points of Grenada citizenship is the country’s tax regime. As a citizen of Grenada, you will not be taxed on your worldwide income. This includes income from investments, dividends, capital gains, property sales, and more. In addition, there is no wealth tax or estate tax in Grenada. And because the country has a number of double taxation treaties with other countries, you may also be able to avoid paying taxes on your income in your home country.
Dual Citizenship is Permitted in Grenada
Grenada also allows dual citizenship, which means you can become a citizen of Grenada without giving up your current citizenship. This is a great perk for those who want to maintain their ties to their home country. And because Grenada is a member of the Commonwealth, citizens also have access to many unique programs and privileges, such as free trade and movement within the Commonwealth.
Key Takeaways
In conclusion, the Grenada citizenship by investment program is a great way to obtain a second passport with plenty of benefits. If you are looking for immigration by investment program with fast processing times and no residency requirements, then Grenada is definitely worth considering.
