Grenada, known as the ‘Isle of Spice,’ is one of the most magnificent islands in the West Indies. Unspoilt and exotic, it astounds visitors with its wildly jagged mountain peaks, hidden coves, spice plantations and lush verdant rainforests. Its beaches are idyllic, with white or golden sand, palm trees, and the delicate aroma of the island’s native spices.
In addition to its scenery, Grenada offers culture, fun, and friendliness typical of authentic Caribbean life – making Grenada the perfect place in which to live, work and play.
The tropical islands offer the perfect getaway destination for both adventure lovers and those seeking rest and relaxation or a romantic break with a partner.
The islands are of volcanic origin with extremely rich soil. Its natural beauty remains largely untouched by industrialisation. With its lush, fertile landscapes and award-winning white sandy beaches and invitingly clear waters, it attracts more than 500,000 international tourists annually.
Grenada is the perfect setting for both adventure and relaxation: its wildlife attractions, marine life and national parks make it an exciting place to explore, while its superyacht marina and pastel towns make it ideal for strolling and unwinding.
Grenada, an offshore financial center, is a member of the Commonwealth and also has a commerce, trade and navigation treaty with the United States.
Grenada’s currency, the East Caribbean dollar (XCD), is pegged to the United States dollar (USD).
Grenada CBI Options:
Applicants may choose between two types of investments to obtain permanent residency and/or citizenship in Grenada.
OPTION 1: NATIONAL TRANSFORMATION FUND
Make a payment into the National Transformation Fund (NTF). The National NTF is responsible for funding Government- sponsored projects in Grenada.
OPTION 2: APPROVED PROJECTS IN REAL ESTATE
Make a payment towards a real estate project approved by the government of Grenada.
‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as “a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee”.
Currently, these projects encompass real estate developments such as hotels, villas and resorts. Because of the growth of the tourism industry, there is rising demand for tourist housing facilities. Real estate developments are thus fantastic opportunities for investors looking for high returns.
Grenada Digital Nomad Visa
In May 2021, the Grenadian Parliament introduced the “Remote Employment Act”, and it was officially launched in October 2021. This was created to lure long-term visitors and allow them to perform their work remotely.
VISA COST: US$1,500 per person, US$2000 for a family with 3 dependents, plus US$200 for each additional dependent.
INCOME REQUIREMENTS: at least US$37,000 per year VISA LENGTH: 1-2 years
CITIZENS THAT QUALIFY: no nationality restrictions
Key Benefits & Business Advantages:
1: International mobility – Grenadian citizens can travel without visa restrictions to more than 115 international and Commonwealth countries, including:
• The United Kingdom (UK)
• All members of the European Union (EU)
• Singapore and Hong Kong
• Visa free to People’s Republic of China
2: Live in the US (E-2 Visa) within 6-9 months
Grenada is the only Caribbean country that shares a treaty with the USA. Grenada is the only Caribbean country with a citizenship by investment program whose citizens, including economic citizens are eligible to apply for a US E-2 visa under a treaty entered into between the USA and the Government of Grenada.
There have been many successful cases where Grenadian economic citizens have received a US E-2 visa. A US E-2 visa allows an investor to live and do business in the United States of America in exchange for a “substantial” investment. Minimum recommended threshold is US$150,000 in the USA.
This investment must be in an enterprise that the investor is able to “develop and direct” and is at least 50% owned by the investor.
3: Short processing time, only 3-4 months.
4: Minimum contribution amount, starting from US$150,000.
5: No interview, education level, or management experience required.
6: No requirement to reside in Grenada before or after citizenship is granted.
7: Grenada allows individuals to hold dual citizenship, and citizenship may be extended to family members, such as a spouse, dependent children or dependent parents. The main applicant can bring children below 30 years old. The applicant’s unmarried siblings are covered under the program. Apart from that, Grenada is the only Caribbean citizenship program that allows candidates to add parents of any age as dependents.
8: Right to live and work in Grenada at all times.
9: Well-known, stable and established investment environment.
10: Generous incentive packages exist including corporate tax incentives, full exemption from import duties, tax relief benefits and export allowance.
11: No tax on foreign income, wealth, gift, inheritance, or capital gains tax.
12: No restriction on the repatriation of profits and imported capital.
13: Duty-free trading in the Caribbean.
14: Young adults may obtain preferred access, and in some cases grants, to top schools and universities.
15: Confidential application process is confidential, with no disclosure or exchange of information with other governments or bodies, except when due diligence checks are carried out as part of the application process. These checks are performed by an authorised due diligence agency.
16: Good education and health systems. In particular, St. George’s University, one of the top medical schools.
17: The official language of Grenada is English
