Grenada is an island kingdom, which also includes several small territories, in the southeastern Caribbean. The country is a member of the Commonwealth of Nations and is administered by Elizabeth II. It attracts tourists with a warm climate, exotic views and clean hotels. For businessmen, the government offers the special migration be investment program created in 1997 and upgraded in 2013.
Business or pleasure? Of course both!
In December 2017, the European Union excluded Grenada from the blacklist of offshore zones. Besides, the government is committed to providing international business owners with a comfortable environment. Their main tool is tax minimization. The island also offers other benefits to entrepreneurs including:
– US business visa for residents of Grenada;
– no taxes on capital gains, inheritance, etc.;
– relatively low investment for citizenship;
– opportunity to return the investments.
You can get a Grenada passport not only for yourself but for your family members too. This is beneficial as the country offers many other opportunities:
– visa-free travel in 117 countries including China, UK, South America, etc.;
– favorable conditions for education in British universities;
– benefits for moving out to other countries of the Commonwealth of Nations.
Despite the fact that Grenada doesn’t require a stay in the country as a condition, many people who have received citizenship regularly spend their holidays or even live there. The official language on the island is English so non-nationals feel themselves like at home. Exotic fruits, seafood, and other delicacies are available at low prices. This country is full of beautiful sights and architecture, including nature reserves and the underwater sculpture park.
Citizenship submission process
Grenada citizenship by investment is available to those who have no bans on entry to EU, the UK, USA, and Canada as well as have legal sources of income. You, your spouse, children, and other relatives can also participate in the program. Being in Grenada is not required. It is enough just to prepare and send documents in compliance with all the rules. Verification, transfer of the investment and consideration of the application lasts from 3 to 5 months.
The process seems simple, but many people don’t have enough experience and legal knowledge to organize everything correctly. Migronis offers assistance in obtaining a Grenada residency by the investment program. The company’s specialists carry out the collection of documents, fill out the form of submission according to the requirements and provide advice to clients. The whole process is described in detail on the website https://migronis-citizenship.com/grenada. You can also calculate the individual cost of the case there.
Ways of gaining Grenada citizenship by investment
Grenada offers two main methods of investment to get local citizenship. The first is a donation of $150,000 to the National Transformation Fund. In this case, you get permanent residence and a passport in a year. The second is to buy shares of Mount Cinnamon. This option is more popular as you can return the investment in 4 years. Besides, the amount of non-refundable tax is almost 3 times less than with a charitable donation.
An alternative way is to buy real estate in the amount of $350,000 in government-supported projects. This can turn out to be a very profitable investment given that tourist and hotel businesses in Grenada are flourishing nowadays. Anyway, you will be able to sell property on the island 4 years after purchase.