Dual citizenship in a Carribean nation has been a buzz in the global scene for some time now. It’s presented as a strategic financial move for savvy investors, as well as a smart life quality decision for high-net-worth individuals (HNWI) and their families.
Of course, this is a program that may not be accessible to everyone. However, for those who are financially capable and hail from countries that allow for dual citizenship, it is a provision to consider in creating a life with fewer boundaries.
In the Carribean region, where there’s a staggering population of expats, Grenada is considered the top pick for second citizenship. Reports reveal that out of all the Carribean citizenship programs, Grenada’s offers the best benefits, especially when it comes to visa-free travel. If you hold a Grenada passport, you can travel visa-free to more than 130 countries — including China.
But that’s not all; this sovereign nation in the West Indies also boasts other advantages as a second home nation, seven of them are discussed below.
For businesspersons or entrepreneurs, launching a new enterprise can be much easier if they are considered citizens of Grenada. The process is much shorter, and there are fewer requirements to meet.
Also, purchasing a property for your business will be a breeze. In fact, planning on establishing a business is one of the key reasons among HNW individuals who seek dual citizenship, they can get Grenada citizenship by investment. Buying a property for business purposes is one way of acquiring dual citizenship.
It’s important to mention as well that Grenada presents a fresh market for innovative operations. Its commercial scene is not as highly saturated as other countries, meaning there’s a big potential for success with business pursuits.
Not many are aware that Grenada boasts a 98.6 percent literacy rate. The government prioritizes education and invests in continuously improving its quality to develop professionally competitive students. Reports reveal that the government allocates 10.3 percent of its budget to education.
Suffice it to say, if you have young children splitting their lives between two countries, studying while in Grenada will be a great opportunity to have. In fact, they may even get better quality of education studying here.
This is perhaps one of the best benefits of having a Grenada citizenship and opting to make the country your new home base. There are no income, wealth, inheritance, and capital gains taxes to pay to the Grenadian government once you become a citizen. Should you decide to become a permanent resident in the future, you could dramatically reduce your global taxes.
Again, if wealth growth is a long-term goal, dealing with fewer taxes can be a significant contributory factor in working toward it successfully. Another advantage tied to not paying such taxes is the ability to direct resources in creating the quality of life you want for you and your family.
As a citizen of Grenada, you will be provided with free primary healthcare which is a right all citizens have. Health centers offer free services delivered by highly trained professionals. This is a vital benefit, especially if you are from a part of the world where obtaining even just basic healthcare is a hassle or an elaborate process.
Unlike other nations that impose strict minimum residence requirements for “new” citizens, Grenada’s are definitely more lenient. If you need to travel often or you like to split your time between the two countries of which you are a citizen, you can freely do so.
In fact, as a dual citizen, you do not even need to reside in Grenada if you do not want to and prefer to just spend a few holidays a year here.
In Grenada, being a dual citizen allows you to take part in political activities. Voting is your right as a citizen and a contributing member of society. As for running for office, this does not seem to be a problem unless there are solid grounds for disqualification.
You simply cannot overlook the beauty of this island. If you are looking for a home that’s a lot like paradise on earth, Grenada fits the bill in numerous ways. It has pristine beaches, friendly locals, real estate properties for sale are at premium quality, and the pace of life is much slower.
Also, even if it is part of the hurricane belt, it’s often out of severe weather conditions’ way. It is one of the few nations in the Caribbean that rarely ever get hit by hurricanes, which is another reason why it’s among the favorite holiday destinations in the region.
Acquiring dual citizenship in Grenada is relatively easy with a clear application process.
You do not need to be interviewed — you don’t even need to visit the country to secure your application. Best of all, if you are able to meet the minimal requirements, you can get your passport in two to four months. Just make sure you get in touch with citizenship investment professionals who can expertly guide you along the way.
Kal Kennard is a Partner at Citizens International, a white-glove specialist firm offering private client services necessary for citizenship investment into the Caribbean, North America and Europe. Based in the Caribbean for the past 15 years, she is an experienced consultant who works directly with many professional partners and advises clients worldwide.