Become a citizen in Grenada and reap these benefits

April 4, 2016

Key Phrase: Grenada citizenship by investment

Grenada is an island country located in the Southeast of Caribbean Sea. The small territory is a collection of three islands that include Grenada, Carriacou and Petit Martinique. With the total surface area of 344 square kilometres (133 square miles), the territory emerges as an independent Caribbean country in 1974. St. George’s is the capital city, whereas English is the official language. Moreover, State government follows the same parliamentary democratic system under the constitutional monarchy. The piece of land is world famous for its natural beauty and breathtaking scenic views of tropical rainforests, waterfalls and beaches. Being based on agriculture and crop cultivation, territory started paying attention to diversifying its economy to financial services, medical education and tourism. Despite all these efforts, the territory has not achieved all business goals yet. The state Government is continuously struggling to execute business goals. In an effort to strengthen the monetary conditions, the country started selling economic placements to businessmen and investors, looking to expand their portfolio. After observing these aggressive efforts, the IMF predicted the financial growth of 3.1% for the running year of 2016. Moreover, the Eastern Caribbean Central Bank has also stated that Grenada’s economy is performing best among all the Eastern Caribbean States. In addition to that, the highly stable banking system have compelled a number of Canadian banks to open their branches here.

Soon after its launch in 2013, Grenada citizenship by investment has become one of the alluring programs that have successfully gained an attention among investors and businessmen across the world. The best part of initiating a setup or making an investment here is to get a chance to become the native resident.  In addition to monetary benefits, the nationality program has recognized itself as one of the simplest and quickest ways to obtain dual citizenship in European Union countries. After becoming a Grenadian, you may also avail other benefits like visa-free travel to multiple destinations across the globe, tax and financial benefits.

If obtaining a second passport in the region of Caribbean excites you; you may consider availing the residency in the country to reap the following benefits.

Quick processing, you will become a native resident in a time period of 4 months after submitting an application.

Family members can be included, the principal applicant is allowed to include spouse and dependent children under the age of 25 years along with dependent parents over the ages of 65 years after paying a reasonable additional fee.

No renunciation, you don’t need to discontinue your current nationality.

No pre or post residencies required, state authorities don’t demand you to stay either before or after submission or approval of your application to confirm and issue documents.

Reasonable validity, soon after being approved for economic residency in the country, you will be issued a passport, which will be valid for a reasonable duration of five years.

Visa free travel, after carrying the Grenadian ID, you will become eligible for visa-free entry through all the countries of the Commonwealth and Schengen area along with several important countries across the world.

Tax benefits, once you obtain a passport, you will enjoy low property taxes on real estate assets in the country along with zero taxes on income and wealth.

Summary: After offering multiple benefits to its residents, Grenada has successfully established a reputation in a global community of territories offering economic citizenship programs.

For more information consult Elevay Citizenship Grenada.