The Grenada citizenship by investment programme is one of the best options for people who would like to have a second passport. However, it is not only about getting second citizenship; another great advantage is that the Grenadian passport serves as the gateway to the US E-2 business visa.
Grenadian citizens can travel visa-free to over 153 countries including the UK, EU Schengen countries and China. In addition, Grenada is a Caribbean country offering many investment opportunities and key benefits to its citizens. Getting a Grenadian passport is a straightforward process if you are interested in dual citizenship.
What you should know about Grenada
Grenada, with its untouched landscapes, has the ideal balance, making it appealing to the interests of those who enjoy adventure, people who prefer to spend their time at the beach, and couples who are searching for a romantic location.
On the idyllic and small island, you may spend a day doing anything from swimming in the waters of Grand Anse Beach, which are known for their exceptional clarity, to hiking through the jungle to reach Seven Sisters Waterfalls, which are known for their spectacular beauty.
Because the inhabitants of its English-speaking nation are among the most hospitable in the Caribbean, even if you find yourself disoriented, you will almost certainly experience other facets of its lively culture and the warmth of its hospitality.
St. George’s, located on the southwest coast, is not only the nation’s capital but also its primary port. It boasts an attractive natural harbour, and the town’s pastel-coloured homes climb the slopes of the surrounding hills from the waterfront. The name “Carenage” was given to the waterfront itself due to the fact that island schooners used to be careened (beached for cleaning or repair) there in the past. In the eastern Caribbean, St. George’s is considered to be the epicentre of the yachting and charter boating industries.
Grenada Citizenship by Investment Options
In order to qualify for citizenship through the Grenada Citizenship by Investment Program, applicants must either make a substantial economic contribution to the nation or buy a qualifying asset that has been authorized by the government.
Citizenship will be provided to the applicants and their families in exchange, but only after they have gone through a demanding process of screening and due diligence, which will include comprehensive background checks. To be eligible for citizenship, the primary candidate needs to be over the age of 18, meet the conditions for submitting an application, and fulfil one of the two primary qualifying possibilities, which are as follows:
- National Transformation Fund donation option: A minimum non-refundable contribution to the NTF of USD 150,000 for single applicants.
- Real estate option: A purchase of at least USD 220,000 from a government-approved property project. An additional minimum non-refundable contribution of USD 50,000 applies for this option.
Taxation in Grenada
If you would like to apply for a Grenadian passport, it would be best to know some things about the tax benefits and bands in the country.
In Grenada, a personal income tax rate of 10% applies to earnings of up to XCD 24,000. A tax of 30% will be applied to any amount that is greater than this. On the other hand, non-residents are subject to a tax rate of 15% on income earned in Grenada. In addition, neither personal income earned overseas nor capital gains are subject to taxation.
Property tax might be as low as 0% or as high as 0.5%, depending on how the property is utilised. Real estate transactions are subject to a tax that ranges from 5% to 15% of the transaction price (depending on whether the property is sold to a resident or to a non-resident). The value-added tax (VAT) in Grenada is currently set at 15%.
Grenadian Citizenship and US E-2 Work Visa
Grenada has held an E-2 Investor Visa Treaty with the United States since 1989. When making the choice to submit a petition for an E-2 business visa, it is essential to be aware of the key requirements for investors that come with the E-2 visa as well as the unique guidelines. An E-2 investment is defined by the United States Citizenship and Immigration Services (USCIS) as “the investor’s placing of money, including finances and other assets, at risk in the commercial sense with the purpose of making a profit. Your capital could go toward the launch of a brand-new enterprise or the acquisition of an already-established company.”
A non-immigrant visa known as an E-2 treaty investor visa is made available to foreign businesspeople from nations that have a Treaty of Trade and Commerce with the United States. These nations include Canada, Mexico, Panama, and the United Kingdom. With an E-2 investor visa, foreign investors are granted permission to visit and work inside the borders of the United States on the basis of a large investment in a legitimate business.
Become citizen of Grenada with Holborn
While the program’s requirements are clear, applicants who lack the necessary experience, time, or knowledge may struggle with the application process. To avoid potential problems, we recommend that you contact a fully qualified adviser with experience in such matters who can save you time and money.
Our knowledgeable advisers at Holborn are fully qualified to guide you through the application process and identify the best solutions to help you achieve your objectives. Applicants do not have to worry about any process issues with our assistance. All you have to do now is contact one of our advisers via the contact form.