If you are thinking about getting citizenship in another country while leaving your current citizenship, you should consider an investment program that allows obtaining a passport of a certain country by spending some money to develop its economy.
Grenada is one of such countries. Detailed information about the program is available here. In this article, you will find some helpful and interesting info about the CIP in Grenada.
Basic Information about the Citizenship Program in Grenada
The CIP was created in Grenada in 2014, allowing people to spend $150,000 for getting citizenship in this country. According to Keith Mitchell, Prime Minister, the program has significantly helped in the country’s development. In 2017, the number of applications increased twice. A large share of the money is spent to decrease the debt burden of the country.
The similar countries that participate in this program are St. Kitts & Nevis, Dominica, Saint Lucia, and others, increasing the annual revenue of international advisory firms to $2 billion.
Citizenship in Grenada, as well as the counties mentioned above, allows traveling across the world. The requirements of these countries are quite similar, but there are also obvious differences related to financial aspects.
Currently, Grenada allows gaining citizenship by investors if they spend $350,000 on property development projects. Another solution is to contribute $150,000 to the NTF.
One of the reasons to obtain a passport in Grenada is to enjoy traveling without any visa to over 115 countries, including Singapore, the UK, China, and some European countries.
Why Choose a Passport of Grenada
There are plenty of personal and business benefits you can enjoy from getting the passport of the Caribbean country.
- Low processing fees;
- No special knowledge, experience, or skills required;
- You do not have to live in the country;
- You will be able to live and get a job in the country legally;
- Citizenship can be also obtained by the members of your family;
- The application process is fully confidential, and your personal information will be shared with government bodies and third parties only if it is essential for getting a passport;
- There are no taxes on a range of income types, including gift, capital gain, and others;
- Traveling without visas to different countries.
Also, there are great business opportunities available to the citizens thanks to incentive packages that include low corporate taxes, absence of import duties, and other benefits. The local currency is exchanged to the American dollar at a fixed rate, which is also a significant advantage.
Living in Grenada
While you can choose where you want to be, keep in mind that Grenada is a brilliant place for living. It has a rich and interesting community and provides a fully secured environment. There are plenty of exciting attractions, such as wildlife, marine life, and amazing parks.