168 investors received passports of Grenada during the first half of 2021. And it is fair to say that the CBI program appeared to be very profitable, bringing about EC$119 or US$44 million for the country.
Grenada investment citizenship is highly important for the country’s economy, and stats is just another proof of this statement. It is very well known that 60% of the income came from real estate investments, so Grenada is highly motivated to create the best possible conditions for new citizens.
Below you’ll see why business people choose Grenada and how to get Citizenship-by-Investment of this country.
Why Grenada Citizenship-by-Investment Programs?
Grenada citizenship by investment program is one of the old and reliable ones. It started at the end of the twentieth century, and there is a growing demand for this hidden gem with unspoiled beauty. 2020 was a record year for the country. The program department approved 375 investor applications at that period, and it is no exaggeration to say that this is the highest number since the program was launched. This undreamt-of success can be explained by the fact that the country opened its borders to tourism during this time.
Recently there have been many changes in Grenada’s CBI program. Since 2020, the whole application process can be fully remote. The Department of Citizenship Program has also started to accept scanned copies of the documents. Earlier it considered only originals of papers.
Grenada had all chances to surpass previous record numbers in 2021. With $44 million in the first six months, the CBI segment brought $44 million in the first six months. $26 million was invested in real estate and $13 million in the government fund. At the same time, $5 million came from government fees. And if you are still unsure, here are some more benefits of Grenada Citizenship-by-Investment.
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Benefits of Grenada’s Citizenship-by-Investment Program
- Visa-free or visa on arrival access to 144 countries, including many important business hubs, such as the United Kingdom, Singapore, or Hong Kong. Furthermore, Grenada is one of a few countries with visa-few access to China
- Possibility to get an E-2 visa to the USA
- No global income, dividends, wealth, and inheritance tax
- Benefits for children in British universities
- All family members can obtain citizenship within 2 months
- No interview, education, or work experience
- No need to reside in the country (before or after receiving citizenship)
- Fully remote procedure
- Fast application process
- Dual citizenship
- Inherited citizenship
Business and Tax Benefits
- No capital gains tax
- Income tax for residents (households) is 10% up to $ 8,800, 30% over this amount
- Fixed income tax for legal entities — 30%
- There is no tax on foreign income for international companies
- VAT rate — 15%, for the travel industry — 10%
- A real estate tax — from 0% to 0.5%
- A property transfer tax — from 5-15%
- There is no restriction on the repatriation of profits and imported capital
- The East Caribbean dollar (Grenada’s currency) is pegged to the USD
- A duty-free trading
- Generous incentive packages including export allowance, corporate tax incentives, tax relief benefits, and full exemption from import duties
It is important that Grenada entitles investors to the same rights as any other Grenadian citizens. You can live, do business, study, and work at this place. You can also apply for an E2 visa in the United States and relocate to the Land of Liberty, having the same rights.
Besides, Grenada provides a high-quality education. For example, its St. George’s University is considered the best higher education institution in the Caribbean region.
“Our St. George University is one of the drivers for the growth of the domestic real estate market. And, of course, banks help the population – nurses, teachers, police officers – to be able to afford a mortgage and build or buy a house. The rates are at the level of 5.9-6.5%,” Percival Cloden told.
Grenada and Crypto
Besides, Grenada is one of the best countries to buy citizenship with Bitcoin or other cryptocurrencies. This state does not have specific legislation to tax any crypto transactions.
Grenada wants to develop a crypto environment, so it signed up to participate in the ECCB pilot. This project aims to test the use of digital money alongside the country’s national currency. Apart from the zero taxes on crypto gains (which is your best solution to lower your tax bill), Grenada also offers to buy its citizenship with Bitcoin.
What are the benefits of buying citizenship with digital currency?
- Safeguard against currency devaluation in the case of a market crash
- Become a citizen of a country that has crypto-friendly tax laws
- Obtaining a powerful second passport
- Not bound by national regulations for any limit on foreign remittances
Interested in more detailed information?
- We offer free consultations, understanding how important it is for the client to make the only correct decision.
- We work only in the field of investment immigration, integrating gained experience into the investor’s goal
- We work only with official programs of the European Union and Caribbean countries
- Before signing the contract, we inform our clients about any additional fees and expenses ·
- We conduct a screening to assess the investor’s chance of obtaining the desired citizenship
- We oversee the process at each stage and work exclusively towards the result
- We are in touch 24/7
The main investment options
Under the Grenada citizenship program, investors have two investment options:
- Investing in National Transformation Fund – from $150,000
- Purchase of government-approved real estate projects – from $220,000. The list of real estate projects mainly includes five-star hotels
Note! Under the second option, investors should additionally pay a special government charge – $50,000+