By Maxine Philavong
Grenada: a beautiful island, tiny island in the Caribbean. Filled with white sandy beaches, lush green vegetation and buzzing coral reefs, many miss out its numerous advantages due to its small size. But those who are looking for investment and citizenship opportunity should not overlook the “Island of Spice.” Indeed, Grenada is home to the Grenada Citizenship by Investment Program, a government sponsored program that provides rapid access to the United States E-2 Investor Treaty.
The E-2 Treaty Investor Visa allows a person to move to the United States with their spouse and dependent children for the purposes of owning and operating a business. Only citizens from certain countries are eligible for the visa.
Grenada is the only Caribbean country which holds the coveted E-2 visa treaty with the US, allowing citizens to apply for a non-immigrant visa and reside there. This is an incredible opportunity as many countries such as China, Russia, India and countries of the Gulf region do not have an E-2 treaty with the US, you can obtain your citizenship of Grenada first then apply for USA E2 Visa.
Grenada Citizenship itself provides many benefits in its own right, some even calling Grenada citizenship the “golden visa.” This includes no residency requirements, no tax on worldwide income, as well as citizenship of a politically and economically stable country. The Grenada Citizenship by Investment Program is just the icing on the cake when it comes to the island’s many advantages.
Grenada’s citizenship by investment program is one of the most cost effective in the world. Here are our top 4 reasons why clients might be interested in choosing the Grenada Citizenship by Investment Program:
- Fast Processing Times
Processing times for the Grenada CBI programme are extremely fast. It usually takes less than three months and there’s no requirement to visit. And, if you want to then obtain an E-2 visa, the timings are also favorable. The E-2 visa can take as little as six months. This means that you could be holding Grenadian citizenship and living in the US within just nine months.
- Lower Capital Investment
The Grenada Citizenship by Investment cost is one of the most effective in the world. Investors have two main options: a $150,000 donation to Grenada’s National Transformation Fund or an investment in real estate that starts from $220,000. Through our strong presence on the island, D&A is able to help our clients navigate the investment opportunities. Upon request, our senior staff will visit the island with clients and introduce them to key stakeholders including members of government, as well as investment fund managers and real estate developers.
- Worldwide income is not taxed
Grenada does not tax income outside the country. This means earnings you make from business interests or property outside Grenada are not likely to be included. And, if it comes to the E-2 visa, you would not be taxed on worldwide income by the US either. The E-2 visa is a non-immigrant visa. US permanent residents / Green Card holders are taxed on worldwide income. The D&A team includes tax attorneys who can advise you. D&A has forged close relationships with all the stakeholders in Grenada’s Citizenship by Investment Programme and have been successful in helping people from around the world achieve citizenship of this forward-looking country.
- Keep your existing citizenship
Grenada permits dual citizenship, meaning that you do not necessarily need to give up your existing citizenship when you acquire Grenadian citizenship. It all depends upon the rules of the other country or countries. India, for example, does not allow dual citizenship. It does, however, allow you to hold Overseas Citizen of India (OCI) status. This offers similar benefits to citizenship with some restrictions, e.g. on the rights to own land or run for political office.
The Grenada Citizenship by Investment programme requirements are strict but simple. Applicants must have a clean criminal record and be able to verify their source of funds. With D&A’s support, the whole process can run fast and smoothly. A well-prepared application combined with the efficiency of the Grenadian authorities, means that processing time takes an average of just two months.
This article is published for clients, friends and other interested visitors for information purposes only. The contents of the article do not constitute legal advice and do not necessarily reflect the opinions of Davies & Associates or any of its attorneys, staff or clients. External links are not an endorsement of the content.