Grenada is located in the south of the Caribbean, 12 degrees north of the equator. This volcanic island is an attractive investment destination. Apart from escaping the adverse events in their home countries, people also want to scale their business for growth.
Grenada’s government encourages foreigners to invest based on mutual benefit. You’ll also be expected to observe the law of the land.
Investors are at liberty to operate businesses in fields of lawful economic activity. You can buy or lease privately owned land and import skilled workers. Thus, doing business in Grenada is relatively easy.
Apart from offering the above, Grenada opens up even more attractive windows of opportunities. So you should think of Grenada if you’re looking for a place to do business. With better tax planning and optimization options.
Why You Should Consider Investing in Grenada
Grenada provides valuable passports and a conducive environment for conducting business. The Grenadian government also recognizes the growing number of medium and small businesses. That’s why it offers dual citizenship and a range of investment opportunities in areas like:
- Health and wellness
- Information and communication
- Tourism and hospitality
Obtaining Grenadian citizenship is easy. You only need to identify where to invest. Let’s now discuss the reasons why Grenada is a better option for investors.
1. Recognition of Dual Citizenship in Grenada
You might be planning to expand your investment opportunities with a second passport. But note that some countries will require you to renounce your current citizenship. That isn’t the case if you choose to invest in Grenada. Because the country recognizes the classification of dual citizenship.
This means that you’ll be considered a citizen of both Grenada and your home country. In fact, Grenada will not disclose your new nationality to your home country. This serves to provide you with a tremendous amount of privacy.
To acquire a Grenadine passport, you’ll be expected to meet certain requirements. One of them is that you’ll have to make a minimum contribution of $150,000 to the National Transformation Fund. Alternatively, you can buy a real estate property costing at least $220,000. You’ll also have to prove the source of your investment funds and hold no criminal record.
2. The Grenada Passport
The Grenada passport is unique in that you’ll not require a visa to travel to China, for instance. As a Grenadine, you’ll be granted visa-free access to the European Union. This citizenship allows you to visit the key business hubs of Hong Kong and Singapore visa-free.
You’ll also be eligible for the United States E-2 treaty investor visa. Note that the applications for this sought-after visa must come from a treaty that holds an E-2 treaty with America.
Whereas Grenada has the E-2 treaty, countries like Russia, Vietnam, and South Africa do not. Some people apply for Grenada’s passport because it allows them to get an E-2 visa.
3. Cost-Effective Investment
Grenadian citizenship by investment comes with the option to invest in real estate. There is also the possibility of returns on your property investment.
Grenada’s tourism industry is flourishing. This places your investment in a good place if you choose to establish your business here. There are notable opportunities in Grenada, especially in the tourism and hospitality arena.
Amidst the many advantages of investing in Grenada, the country has no foreign income. Also, there is no tax on wealth, inheritance, gifts, or the repatriation of profits. Investors in Grenada are also exempted from import duties and corporate tax.
4. Excellent Quality of Life and Access to Global Markets
Grenada offers a peaceful environment to investors. Any business will perform better in such an environment as it enables growth. The crime rate in Grenada is also low and the natural environment is untouched. The country also has a solid and rich culture with natural beauty.
Grenadians are kind and the cost of living in the country is affordable. This makes survival easier for visitors. Thus, getting along with the inhabitants won’t be a problem.
Grenada is a port country that’s open to global markets. Grenada citizenship by investment gives you access to the United Kingdom and the USA. Also, its thriving community creates a ready-to-use international market.
5. Exceptional Infrastructure
Excellent infrastructure is crucial if you want to set up and operate a business. Infrastructure like sea and land transportation and the availability of electricity contributes to success. Below are the points to consider when choosing an investment destination:
- Electricity. Access to electricity in Grenada is not a problem. The cost is also affordable and comparable to the region’s average.
- Telecommunication. To keep up with modern technology, Grenada has had to heavily invest in internet service. And the possibility of building fiber networks will largely impact business development.
- Transportation. Making shipments will be easy considering that Grenada has airports and port facilities. The country also has reliable inland transportation.
6. Trade and Investment
Grenada has an open economy whose structure is very diversified. The diversification is based on:
- The transportation sector
- The manufacturing sector
- The communication sector
- The public and agricultural sectors
The fastest-growing sectors for business are tourism and hospitality as already mentioned. Grenada is also active in international services. Overseas education and offshore financial services provide great potential for development.
The government is also open to proposals that could further develop hydro and geothermal energy resources. This will help the country to reduce its dependence on imported fuel. Investors are presented with many opportunities since Grenada is a developing nation.
7. Full Family Citizenship
Grenada citizenship by investment program is the best if you plan to move with your family. The program includes any of your children below the age of 30 and other dependents. This is better compared to other countries that have more stringent rules.
Grenada’s citizenship allows your unmarried siblings without kids to come with you.
Grenada has one of the most robust dual citizenship opportunities in the world. That’s because it reflects the actual reality faced by many people. Today’s world circumstances don’t conform to the standard nuclear family. Many families are made up of adult-dependent children and unmarried siblings.
Choosing the Grenada passport means that you can move with your family members. This passport provides equal opportunities in the true sense of the word.
Final Take Away
A Grenada passport presents you with the opportunities necessary to establish a business. The country’s laws also favor foreigners. This makes it easy to navigate the business environment. The seven reasons mentioned here present a hospitable and warm environment for business.