GRENADA – Isle of Spice
Grenada consists of a main island and six small islands with a total area of 344 km2. Grenada is well known as a leading producer of spices: cinnamon, cloves, ginger, pepper, dill, coffee, and especially nutmeg, which supplies 20% of the supply. every year. Nutmeg is also printed on the national flag representing the major economic crops of Grenada.
The Grenada economy has shifted from agriculture to services, and tourism is a leading industry in bringing foreign exchange earnings to the country.
The Grenada Citizenship By Investment program was launched by the Government to attract foreign direct investment through a policy of granting citizens rights to investors in Grenada.
“Grenada ranks second among the Caribbean settlement program, established on the basis of various legal, tax and quality factors as well as vigilance, compliance and risk, according to the Citizenship and Immigration Program Ranking 2016.”
|GDP PER CAPITA||10,131 USD|
|GDP GROWTH||2,5 %|
|MAJOR ECONOMIC SECTOR||Services, Agriculture, Industry|
|PERSONAL INCOME TAX||Maximum tax exemption|
|MONTHLY COST OF LIVING||400 – 1000 USD|
The Grenada Citizenship by Investment program is one of the simplest and quickest routes to obtaining dual citizenship, a passport offering extensive visa-free travel to 115 countries, and financial confidentiality in a secure tax-free jurisdiction.
Grenada has an established reputation within the global community, so applicants can be assured of the security of their investments. Furthermore, there are no residency requirements in Grenada’s program, allowing for all the benefits of dual citizenship while not requiring major changes in the investors’ lifestyle or that of their families
- Real Estate Projects
- Invest a minimum of $350,000 and the investment amount will depend on the chosen project.
- Maintain the investment for at least either 4 or 5 years (depending on the chosen project) during which time dividends may be paid to the investor.
- The Grenada Sustainable Aquaculture Project (GSA)
- Invest a minimum of $275,000 by purchasing preference shares in the project.
- . Maintain the investment for at least 5 years. The investor may then either sell the shares back to GSA or a to third party surety company for the original investment price.
Another option would be for the investor to hold the shares beyond the minimum period, and then sell at an acceptable market value GSA’s intention is to produce a positive cash-flow in 3 years, with a minimum return of 6%.
- National Transformation Fund (NTF)
The NTF, established in 2013, finances projects which benefit one of the country’s industries, such as tourism, alternative energy, and agriculture.
- Contribute $200,000 to the fund, for a family of 4 (primary applicant, spouse, and two dependent family member)
- A contribution of $25,000 for each additional dependent family member will apply.
- The application process is confidential.
- Citizenship can be obtained within 4 months of application submission
- Inclusion of family members: Spouses, dependent children under the age of 25, and dependent parents over the age of 65 can also receive citizenship.
- The right to live and work in Grenada but with no minimum residence requirements.
- The right to live and work in any CARICOM member state
- Visa-free travel to more than 115 countries, including those in the Commonwealth of Nations, and the Schengen Area, Switzerland, Hong Kong,….
- E-2 Treaty Investor Visa agreement which attain conditional residence in the USA.
- Ability to hold dual citizenship if the country of origin allows such a status
- No wealth, inheritance, gift, income or capital gains taxes on foreign-held assets.
- No restriction on the repatriation of profits.
- Generous business incentives such as full exemption from import and export Duties.
- Free public education to the age of 16.
- St. Louis University George’s in Grenada is recognized as one of the best American medical schools overseas. with 7,000 students from around the world, and in fact one in 100 US doctors graduate here.