Citizenship of Grenada through investment: pros and cons

History of the establishment of Grenada's economic citizenship program

The history of the Grenada economic citizenship program began back in 2001, when one could become a citizen of this country by paying a small amount. However, after the events of September 11 in the United States, the program was halted due to concerns that unreliable individuals might use it to obtain citizenship. As a result, it was temporarily closed to prevent damage to the country's reputation.

The second version of the program

A new version of the program was introduced in 2013. According to the new rules, citizenship of Grenada can be obtained in two main ways: through investment in real estate or by making a donation to a government fund.

Real estate investments

Investments in real estate must be at least $350,000, and in addition, it is necessary to pay about $50,000 in taxes and fees. After 4 years, the property can be sold without losing citizenship. However, it should be noted that by purchasing real estate, you also acquire securities (shares) of the government-approved project. This means that in the event of the management company's bankruptcy, you will have to pay extra for the maintenance of the property, and there is also the question of the possibility of selling the shares after 4 years.

Donations to the state fund

Donating to Grenada's development fund is an option favored by many foreign investors. The minimum amount for one applicant is $150 thousand, for a family of four - $200 thousand, and for each additional member of the family will have to pay an additional $25 thousand. thousand, and for each additional family member it will be necessary to pay an additional $25 thousand donation is non-refundable.

Advantages of Grenada's citizenship by investment program

The program provides unique opportunities for citizens, including visa-free access to 115 countries, an E-2 business visa to the U.S., educational benefits and citizenship in the British Commonwealth. Commonwealth.

Citizens can also open accounts in well-known European banks, establish companies, and take advantage of the favorable tax system on the island.

The cost of the Grenada program

Grenada offers citizenship for investment at a higher price than some other countries in the region. The cost on other islands, such as St. Lucia, Antigua and Barbuda, Dominica, and St. Kitts and Nevis, is lower. Nevis, are lower.

Conclusion

Despite the higher cost of the citizenship by investment program in Grenada compared to other countries in the region, the unique opportunities and benefits offered by Grenadian citizenship may offset its cost for many investors.

Conclusion

The economic citizenship programs of Grenada offer unique opportunities for foreign investors, but they also have their own features and drawbacks. Despite the appeal of visa-free travel to a large number of countries, a favorable tax system, and the ability to open accounts in European banks, the cost of investment for Grenadian citizenship is one of the main downsides of this program. However, every potential investor should consider all aspects of the program in terms of their needs, goals, and capabilities before making a final decision.