Residency and Citizenship

Why Grenada is the Best Choice for Citizenship by Investment in the Caribbean

3/8/2021 8:00:00 AM
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Hundreds of beautiful islands full of vibrant colors and magical scenery lie in the crystalline Caribbean Sea waters, attracting tourists seeking adventures by the thousands every year. Nevertheless, many of these islands are not sought-after only for their natural beauties and adventure opportunities. Among these isles lies an underpopulated treasure, not only for its pristine landscape but also for the investment potential.

The island of spices has grown in popularity among investors in the last few years due to its CBI, which offers attractive perks to non-residents, allowing dual citizenship with a clever investment. By doing so, Grenada stands tall in the Caribbean, making it a top choice to look into. To prove this point, here are a few items that make Grenada better than other available options.

Wide access to many countries with unique benefits

At Mundo, We love the Grenadian passport. Firstly, it provides a way to diversify risks by gaining dual citizenship and allows for visa-free travel to 153 countries, including the EU, the UK, Russia, and Singapore. It is also one of the few countries in the world that has a 30-day permit with China, making it the only program with visa-free access to both China and Russia.

However, Grenada’s biggest benefit is a historical agreement that dates to the Ronald Reagan administration that establishes an E-2 visa treaty with the US. This benefit would allow you to apply immediately after receiving your citizenship, so in only nine months, you could have Grenadian citizenship and be living and working in the US with an E-2 status. While it is not the only one in the Caribbean, it is the cheapest program that provides this benefit, allowing for these advantages:

  • You can apply for the E-2 visa as soon as you receive your Grenadian passport.
  • Your spouse and children can travel to the US as they please, and your spouse will receive a work permit.
  • Your children can study in US schools and universities, with access to in-state tuition.
  • You can renew the visa indefinitely as long as your business stays active.

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Top-rated education and premier healthcare system

St. George’s University is a prestigious academic institution, famous for its school of Medicine that attracts international students worldwide. Besides a great education, it allows students to carry out their residency and clinical rotations in the US and UK. It is considered the main reason why Grenada’s healthcare system is among the best in the Caribbean.

The permanent residency gives the added benefit of lower fees for undergraduate education at St. George’s University and automated access to all of the university partnerships with other governments, opening the work field immensely for graduates.

The Citizenship by investment program is the most rewarding in the Caribbean

The Citizenship by Investment program was launched in 2013 to great success, as it balances exclusivity and luxury with rewards for those that qualify. It offers new business opportunities and a virtually free passport for your investment even if you are not residing in the country at the moment.

This CBI program is highly praised worldwide for its excellent combination of features standing as the best in the Caribbean. First, the process itself is straightforward, lasting around 2-3 months if you have the documents in hand. It requires a certificate of good health, a clean criminal record, and proof of your source of funds. Almost all applicants that meet these requirements are accepted, with a rejection rate of only 10.2%. So far, all applicants that have applied through our partners have been accepted.

Another advantage that the process presents is that you do not need to travel to Grenada to receive your passport as it is shipped to your place of residence. You do not need to reside in the country to be eligible, as there is no stay requirement to keep the citizenship.

There are two options in the program to receive citizenship. One is to donate a non-refundable amount of 150,000USD to the Grenada National Transformation Fund per single applicant, and 200,000USD for a family of four.

The other way is through real estate investment for a government-approved project with a minimum amount of 220,000 USD, with the possibility of reselling the property after five years of obtaining citizenship. During those five years, you are allowed to put the property on lease to earn a passive income.

Both options are solid, but Mundo recommends the real estate one for reasons we will explain shortly ahead.

Your whole family can be included in one single process

The Grenadian CBI in real estate is preferred over many others in the Caribbean because it is cost-effective for families, as most members can be included in one single application, including children, parents, grandparents, and even siblings. These are the family members eligible alongside the main applicant:

  • Spouse and unmarried children up to 30 years of age.
  • Parents and grandparents.
  • Your spouse’s parents and grandparents.
  • Unmarried siblings.

This makes it one of the most complete applications for large families, with no additional cost for 4-member families besides the application fee. There will be a due diligence fee of 5,000 USD for every added adult unless it includes a dependent child under 16 years of age, in which case no additional cost is applied.

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It has the Caribbean-benefit of low taxation

Most of the Caribbean is very tax-friendly, as most countries have reduced their burden to become more attractive for investors. As such, Grenada has chosen to apply a territorial tax system for residents. This creates an excellent opportunity to reduce one’s tax liability, as it only taxes Grenadian-based income. It does not include your worldwide income. Thus, by becoming a Grenadian tax resident, you will not have to pay worldwide taxes anywhere. Even better, there are no wealth, inheritance, capital gains, or international dividend taxes.

Gifted by nature with beautiful scenery and a variety of natural resources

With a volcanic origin, the island offers beautiful views that attract travelers worldwide. It’s a spectacle to admire, starting with the tall mountains and down to the beautiful beaches. It calls you to sit and enjoy the view while hearing the seashore’s calming sounds and taking in the aroma of locally grown exotic spices.

Grenada is also blessed with natural resources that allow its inhabitants to provide for themselves with the most basic supplies, making them less dependent on imported goods. This is a rarity in the lower Antilles, where barren lands can't provide for their occupants, this is the case of the Netherlands’ dependencies or the Virgin Islands. 

Another advantage that Grenada has over its neighbors is that its location is outside the hurricane belt, near Venezuelan's shore, establishing it as one of the safest options in the Caribbean for a second home. 

In a sea filled with beautiful islands, you might think that Grenada’s beauty cannot stand out. You’d be wrong.

The real estate market is on the verge of booming

With Covid-19, tourism on the island has dropped significantly, but prices have also dropped. With Grenada requiring just 220,000USD in investment for the CBI program and fees on the low, it is the perfect time to invest as the prices are lower than other Caribbean destinations.

While the boom of tourism after the worst part of the pandemic is over and due to the scarcity of government-approved properties for citizenship, prices are expected to skyrocket in the next few years, so the value of the property that you buy now will rise when you are ready to sell. Of course, we are partnered with the sole CBI-approved investment currently in development, which features units for the minimum investment required.

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You have the opportunity to obtain it now with our experts

Yes, even during the pandemic, here at Mundo, we partnered with the best development on the island, which has the sole project currently under development. Many units are already finished. The first phase is sold out, and the fourth final phase of construction is now on sale, formed by 48 Multi Title Studios and 24 Multi Title Suites with prices beginning at $220,000. 

With our developers in Grenada, you can obtain all of the previously mentioned benefits of a Grenadian CBI and be the owner of luxury properties with the chance to gain excellent returns. All rooms and suites available are located in a luxurious resort with all the accommodations you can ask from a Caribbean hotel. Contact us if you wish to acquire your unit through our experts, but beware that sales will soon be closed.

If you are looking into investing in the Caribbean, this is one of the top choices. Not only is their CBI one of the best, but also comes with rewarding benefits and the opportunity to gain E-2 status and expand your business to the US with your family. Even more, its unique position outside the hurricane belt will keep your property away from natural disasters. 

Our Grenada project is a great opportunity to acquire the best real estate project in Grenada with the path to citizenship without additional costs besides the program fees. Contact us and, through our experts, you will get a luxurious property, the perfect place for a summer getaway, and a second passport with benefits that will help diversify your investment opportunities. 

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