Many investors and business owners around the world are looking to expand and improve their business activities and travel opportunities, without the complications that come with obtaining visas. Their primary goal is to travel internationally, for both business and pleasure, without the bureaucracy and time-consuming processes many passports require. Hence the creation of the Citizenship by Investment (CBI) Program is a great opportunity for investors to obtain passports that have access to more visa-free countries than their original citizenship.
The Grenada citizenship and passport is a great option that can be acquired through the country’s CBI Program. This passport provides applicants the opportunity to travel without a visa to 143 countries visa-free and can be obtained through their CBI Program through two different investment options. Grenada’s passport ranking is currently 33rd according to the Guide Passport Ranking Index.
Grenada Citizenship and Passport Benefits
Visa-free Travel
Grenadian citizens can travel to 143 countries without a visa, including the United Kingdom and all members of the European Union. Unique to only a few passports in the world, the People’s Republic of China is also a visa-free destination for Grenada citizens. Grenada passport holders are also eligible to apply for electronic visas for some of the top tourist destinations in the Middle East, including the United Arab Emirates, Bahrain, Oman and Turkey. For example, Grenada passport holders can apply for a Turkey visa by fulfilling the Turkey e-Visa requirements online.
Grenada is one of a few countries in the world that maintains an agreement with the United States for its citizens to obtain an E-2 Investor Visa. This visa allows Grenada citizens to invest, live, and work in the U.S.
There are 22 countries that require an e-Visa to be obtained online for Grenada passport holders. This list includes Australia, Azerbaijan, Bahrain, Benin, Cote d’Ivoire (Ivory Coast), Djibouti, Ethiopia, Gabon, Georgia, India, Kyrgyzstan, Norfolk Island, Oman, Pakistan, Papua New Guinea, Qatar, Sao Tome and Principe, South Sudan, Tajikistan, Turkey, Ukraine, and the United Arab Emirates.
Tax Benefits
Grenada provides incentive packages including corporate tax incentives, exemption from import duties, tax relief benefits, and export allowance that are considered quite generous on an international scale. Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD) making it one of the more stable currencies for investments. For investments, Grenada is well-established and considered stable by all international standards.
Business Opportunities for Citizens
For business owners and entrepreneurs, Grenada offers exciting opportunities. There is no foreign income, wealth, gift, inheritance, or capital gains tax required of citizens. There is duty-free trading in the Caribbean and no restrictions on the repatriation of imported capital or profit earned in the country.
Grenada Citizenship by Investment Options
Grenada launched the CBI Programme in August 2013 with the purpose of increasing and creating access to direct foreign investments. Those who enroll in the program receive permanent legal citizenship and a passport within 4 to 6 months. The program works with the tourism, agriculture, and manufacturing sectors to generate more opportunities for sustainable employment, offering better opportunities for both the local population and foreign investors.
Citizenship by investment in Grenada is available through two channels. The first is a non-refundable contribution to the National Transformation Fund (NTF). A single applicant is required to pay a $150,000 contribution to the NTF to be eligible.
The second is an investment in an approved real estate project at a minimum value of $220,000 or $350,000 under the Grenada Citizenship by Investment Unit. The real estate may be resold under the same program after 5 years of acquiring citizenship. Additional government fees apply depending on the number of dependents included in the application. For a single applicant, the government fees will amount to $50,000.
Obtaining citizenship in Grenada through either of these programs requires minimal processing fees and there is no requirement to live in Grenada before or after the passport is obtained. Applicants are not required to undergo an interview process, and there is no education or management experience required. Learn more about Grenada Citizenship by Investment.
Get to Know Grenada
A member of the United Nations and the Commonwealth of Nations, Grenada offers citizens both social and political security. Located in the West Indies of the Caribbean Sea, Grenada can be found at the southern end of the Grenadines island chain. Grenada consists of several islands: Grenada, two smaller islands named Carriacou and Petite Martinique, as well as a handful of small islands to the north of the Grenadines. In July 2020, the island nation’s estimated population was 112,523.
From its lush forests to its idyllic beaches, Grenada is a beautiful country that boasts a vibrant and friendly population. The local community is particularly proud of their national heritage and long history, which they celebrate throughout the year, particularly in the capital city of St. George’s. The island is known as the “Island of Spice” due to its cultivation of nutmeg and mace crops. Whether exploring the rich diversity of flora and fauna in the national parks or strolling along the coastline lined with quaint pastel-colored buildings, Grenada is the perfect place to unwind and enjoy what nature has to offer.
Grenada was ruled by both the French and the British until independence was declared on February 7, 1974, by Eric Gairy, the first Prime Minister of the independent nation. The country was absorbed into the Commonwealth, with Queen Elizabeth as their head of state. Since 1983, the island has been a stable parliamentary representative democracy.
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