Top 10 Reasons Grenada is a Perfect Second Citizenship Solution

All you need to know

Published: March 15, 2021

Grenada citizenship by investment program was only re-launched in 2013 but it has since begun to catch the attention of investors because of its unique advantages and what it can offer you and your business.

Grenada is a small Caribbean country seeking investments into its economy and offering valuable citizenships in return.

Some of its peculiarities are something you’ll hardly get from other countries offering similar programs. The government provides two routes to obtain this passport.

You can get this passport by donating a minimum of $150,000 to the Grenada government or by investing a minimum of $350,000 in government-approved real estate for an independent investor and a minimum of $220,000 each for a joint investment of two investors.

Here are the top 10 reasons you should get a Grenada passport:

1. USA Visa Opportunity

The Grenada passport offers you the opportunity to apply for an e2 visa to the USA. This visa gives you USA residency by investment and allows you to work in the US. This is a strong pull for people looking to live and work in the US. You’ll need an investment of at least $150,000 to get into the US residency by investment program with your Grenada passport.

2. Visa-Free Movement

The Grenada passport gives you visa-free travel or visa on arrival to over 140 countries including a 6 months stay in the UK, access to EU Schengen countries, and perpetually difficult countries to enter like the US, Russia, and China. In fact, Grenada is one of only 11 countries with visa-free entry into china. This opens up a host of opportunities for you and allows you to travel quickly across the world and without the stress of obtaining visas.

3. Tax Benefits

Another huge advantage you’ll get when you become a Grenada citizen is the tax relief that comes with it. There is no tax on income from outside the country, no inheritance or wealth tax, and no capital gains tax. This is why Grenada is fast becoming the destination of choice for people looking for a second passport for sorely tax reasons to protect their wealth and also give them better opportunities to grow.

4. No Residency Requirement to Keep Citizenship

No stringent residency requirement of any sort to keep your citizenship. You can live anywhere without visiting Grenada and still keep your citizenship. Investors are not forced to stay in Grenada for a particular number of days yearly like in some other programs.

5. Passport for Members of Your Family

Your citizenship application also opens up the opportunity for your family members to obtain passports too. Some of your family members that can obtain passports include your spouse, children under 18 years, children over 18 years but still in a higher institution of learning, mentally or physically challenged children over 18 years, dependent parents or grandparents, and siblings over 18 years that are single and without any child. Additional members will require additional fees.

6. Dual Citizenship That Can be Passed Down to Your Generation

Grenada allows for dual citizenship and so you do not have to renounce your first citizenship when collecting your Grenada passport. This dual citizenship can be passed down to your generation.

7. Fast Application and Approval Process

Grenada citizenship by investment program offers you a fast route to citizenship as you can get your passport within 60 days after submitting your application. Its approval and verification process is fast and straightforward.

8. Stable Political System

No one wants to go to a country with an unstable government as this can lead to unrest, bad policies, and loss of life. Grenada has a stable political system as they run a democratic government based on the British system of governance and they hold elections every 5 years.

9. High Quality of Life

Depending on your home country, you may find that Grenada offers you a higher quality of life as it boasts of world-class hospitals, good schools, access to basic amenities like good roads, food supply among others. It is also a cultural country that fosters family bonds.

10. Security

Grenada is one of the safest countries in the world and is without any form of terrorism and war. Owning a Grenada passport will give you a safe second home you can go to in case of natural or man-made disasters in your home country.

Summary

Grenada citizenship grants you and your business a host of opportunities especially as it gives you access to some of the world’s business hubs.

Because of the growing tourism sector in the country, you stand to make a profit on your investment if you choose the real estate route.