Published
March 22, 2024
Category
Citizenship by investment programs

Benefits of Grenada Passport and Citizenship

When you consider the advantages of getting a Grenada passport by investment you enter a world of convenience, freedom, and financial prosperity. The passport of Grenada allows visa-free travel to a variety of countries.

Grenada's Citizenship by Investment Programs offers an appealing option for international investment and citizenship. To make the process easier, Mirabello Consultancy, a trusted partner, provides a thorough application pack that includes all necessary papers and instructions.

Key Benefits of Grenada Passport 

Visa-Free Travel in 145 Countries

A key factor that contributes to the high Grenada passport ranking is that your Grenada passport becomes your ticket to a world of hassle-free travel. With entry to 145 destinations globally, including major Asian cities such as China, Hong Kong, and Singapore, as well as Europe's Schengen Area and the United Kingdom, you may travel the world with unprecedented ease.

USA E-2 Visa Treaty for Grenadian Citizens

Grenada is unique among Caribbean Citizenship By Investment programs in that it has an E-2 Investor Visa Treaty with the United States. This one-of-a-kind pact demonstrates the Grenada passport's standing among global travel documents, allowing Grenada people to pursue a working visa in the United States after establishing residence in Grenada, opening up prospective options for economic opportunities and potential U.S. residency.

Tax Benefits

Grenada's tax-friendly policies exert a substantial impact on your financial outlook, contributing to its Grenada passport rank. Global income, dividends, interest, and royalties from foreign sources remain untaxed. Furthermore, Grenada levies no inheritance, capital gains, income, or stamp duty taxes. Businesses, too, benefit from favorable tax conditions, enhancing your financial stability and prosperity.

Citizenship Transferable to New Spouses and Future Generations

Grenada citizenship has an extraordinary attribute of transferability, which adds to the Grenada passport rating. It can be passed down to new marriages and future generations, leaving a lasting legacy and ensuring that your family continues to receive the benefits.

Inclusion of Extended Family Members

The Grenada Citizenship by Investment program is inherently family-oriented, a notable feature in its Grenada passport rank. You can extend its benefits to a broad range of family members, including your spouse, children under 30, unmarried siblings aged 18 and over, parents, and even grandparents of the main applicant and spouse.

Confidentiality in the Application Process

Grenada places paramount importance on the confidentiality of the application process, safeguarding your personal information with no disclosure or exchange with other governments.

Business Advantages of Grenadian Citizenship

Grenada offers a business-friendly landscape with no foreign income, wealth, gift, inheritance, or capital gains tax. Repatriation of profits and imported capital is unrestricted, promoting a thriving business environment and elevating its Grenada passport rank. Generous incentive packages, including corporate tax benefits and full exemption from import duties, contribute to the appeal. Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD), ensuring stability and duty-free trading within the Caribbean and facilitating regional commerce.

No Restrictions on Dual Citizenship

Grenada fosters a welcoming environment for dual citizenship, affording you the liberty to maintain your existing citizenship while acquiring Grenadian residency—a crucial advantage for global citizens.

Secure Real Estate Investment Opportunities 

Grenada offers a secure possibility for individuals interested in real estate investment, albeit at an additional Grenada passport fee. Investment in government-approved real estate projects is possible with a minimum purchase of USD 220,000 and an extra non-refundable contribution of USD 50,000. These properties must be held for a minimum of five years before they may be sold, adding a physical asset to your investment portfolio.

No Minimum Stay Required 

Grenada places no mandatory minimum stay requirements, either prior to or following the granting of citizenship. You retain the flexibility to reside where you choose, all while enjoying the privileges of being a Grenadian citizen.

Affordable Grenada Citizenship Cost 

Acquiring Grenada citizenship is cost-effective, featuring minimal processing fees compared to many other citizenship by investment programs. This affordability is an integral part of its Grenada passport cost.

Straightforward Application Process

Grenada's application process is renowned for its simplicity and efficiency, another aspect that adds to its Grenada passport ranking. No interviews, educational prerequisites, or prior management experience are needed, ensuring a seamless and straightforward application experience.

How To Choose Your Second Passport? 

Choosing where you want your second home to be can be a long and exhausting process. Often this decision has to be a lifetime choice so choosing it correctly can benefit you and the next generations. 

Define Your Goals and Priorities

Begin by clearly defining your goals for obtaining a second passport. Are you primarily interested in enhanced travel opportunities, international business expansion, tax benefits, family security, or access to quality education? Understanding your objectives is key to making the right choice. Grenada provides it all! 

Assess Visa-Free Travel Access

Research the visa-free or visa-on-arrival access offered by potential second passport options. If your family or friends are living in a hard-accessible country or a territory. A passport that grants you entry to a wide range of countries can significantly enhance your global mobility and travel convenience. Grenada passport provides visa-free and visa-on-arrival opportunities in 146 countries in the world. 

Consider Investment Requirements

Understand the financial commitments associated with each passport option. Some countries offer citizenship by investment programs, where you make a qualifying investment, while others require residency or other criteria. In Grenada, you can choose either to invest in a non-refundable program with a minimum investment amount of USD 150,000 or buy real estate with a minimum worth of USD 220,000.

Evaluate Family Inclusion

If you plan to include family members in your application, ensure that the passport program you choose allows for easy family inclusion. Consider the age limits and eligibility criteria for family members. You can include your family when obtaining citizenship in Grenada.

Examine Tax Implications

Assess the tax implications of holding a second passport. Some countries offer tax advantages, such as tax-free global income or reduced tax rates, which can significantly impact your financial well-being. Grenada is heaven for those who are looking forward to less or no tax regimes. 

Review Education Opportunities

If you have educational aspirations for yourself or your family, explore the quality of education available in the country associated with the second passport. Research universities, schools, and educational infrastructure.

Consider Geographic and Political Stability

Take into account the geographic and political stability of the country offering the second passport. A stable environment can provide a sense of security for your family and investments.

Obtaining a Passport through the Investment Program in Grenada

Grenada's Citizenship by Investment program offers a streamlined pathway to obtaining a Grenadian passport. To embark on this journey, here are the key steps and requirements

Eligibility Criteria

  • To qualify for citizenship through this program, the primary applicant must meet the following criteria:
  • Be at least 18 years of age.
  • Satisfy the application requirements.

Primary Qualifying Options

Applicants have two primary qualifying options to choose from:

National Transformation Fund Donation Option

Under this option, the applicant is required to make a non-refundable contribution to the National Transformation Fund (NTF) of Grenada. The minimum contribution for single applicants is USD 150,000.

Real Estate Option

  • The real estate option allows applicants to invest in government-approved real estate projects in Grenada. To qualify for this option, the applicant must:
  • Make a minimum real estate investment of at least USD 220,000 in a government-approved project.
  • Additionally, a minimum non-refundable contribution of USD 50,000 to the NTF applies for this option.
  • Hold the real estate investment for a period of five years.

Due Diligence and Application Process

  • All applicants are subject to a thorough due diligence process, which includes background checks to verify the authenticity of the provided information.
  • Once the due diligence process is successfully completed, applicants can proceed with their citizenship application.

Family Inclusion

The Grenada Citizenship by Investment program is family-friendly and allows for the inclusion of eligible family members. This includes spouses, children under 30, unmarried siblings aged 18 and over, parents, and even grandparents of the main applicant and spouse.

Passport Issuance

  • Upon successfully meeting the program's requirements, including the chosen qualifying option and due diligence, applicants are granted Grenadian citizenship.
  • Subsequently, they become eligible to obtain a Grenadian passport, which provides access to a range of benefits, including extensive visa-free travel and international mobility.

Application Process for Grenada Citizenship 

Choose a Trusted Lawyer Partner 

To begin the process of gaining Grenada citizenship, it is important to note that the process can be complicated without guidance. Applicants must contact an Experienced Consulting Firm, who  will liaise between the applicant and the Government Agency. Mirabello Consultancy as a trusted partner that will provide you with comprehensive expertise on how to submit the application pack containing all the necessary documentation and step-by-step instructions.

Document Preparation 

The applicant will be supported in preparing the necessary papers for submission to the procedure after contacting Mirabello Consultancy. Filling out formal forms, getting a medical checkup, and receiving needed supporting documents are all part of this phase.

Every document must be in English and must be legally validated. If the applicant decides to invest in real estate, a sale and buy agreement must be used to reserve the property. Mirabello Consultancy can assist you in selecting the appropriate investment program for your specific circumstances. 

Make your Contribution 

Our legal advisors apply to the Granda citizenship executive office after all of the relevant documentation and documents are finished. Mirabello Consultancy will handle all correspondence regarding the applicant's file, including any queries or questions that may occur.

It's worth emphasizing that the Grenada Citizenship by Investment Program has introduced mandatory interviews as a new requirement for obtaining citizenship.

Due Diligence and Approval

Each applicant is subjected to a comprehensive due diligence background check by the government. During this process, all submitted information is examined and verified.

Following due diligence, the government makes the ultimate choice, which is usually guided by the investment committee.

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