On 1st April Grenada rose the bar by reducing the investment threshold for its Citizenship By Investment Real Estate option to $220,000, the same as St. Kitts, Antigua and Dominica. Together with the unique advantage of having the E-2 Investor visa treaty he USA, not to mention the visa waiver agreements with China (unique in the CBI field), Russia and Brazil, this puts Grenada as a serious contender to become the most attractive CBI program in the Caribbean and certainly one of the most attractive globally in terms of the pricing and convenience. The recently introduced legislation that requires developers to invest the equivalent of a minimum of 20% of the total cost of construction will go a long way to boost confidence in the markets and thereby further strengthen Grenada’s new leading position.
The country launched it’s CBI Program in 2013. Investors can apply by way of a contribution to the National Transformation Fund (NTF) or an investment in an approved real estate development. In addition to the key unique advantages noted above (China visa waiver and the USA E-2 Visa). The program also features unique terms to attract families, e.g. siblings can be included as well as parents of any age and children up to 29 years of age.
The government itself on its due diligence program that is known for its scrutiny in carefully screening applicants to ensure to preserve the program’s integrity.
There is no need for an interview or visit to Grenada, no residency requirement, albeit residency is optional, and dual citizenship is allowed. Income tax is source based (you are not taxed only on your local income in Grenada) and there is no inheritance tax and no capital gains tax. Future born children of new citizens can apply for citizenship by naturalisation.
Grenada citizens who take up residency can benefit from heavily reduced rates for undergraduate courses at St. Georges University. With 7,000 students from all over the world, the institution is America’s largest accredited offshore university and supplies one in every 100 doctors in the USA annually.
Who qualifies – Investors of any nationality can apply for Grenada CBI. The Principal applicant can include qualifying dependants including, their spouse, children under 30, parents and parents-in-law of any age and unmarried siblings. To apply under the Real Estate Option, investor applicants must invest the minimum investment amount in an approved project and in addition must also pay government fees, professional fees and closing costs. These fees and costs amount to approx. $100,000 for a typical family of 4.
If you require further information regarding the when applying for the Citizenship By Investment via the Real Estate Option then, please do not hesitate to contact us.