Minimum investment amount for Grenadian citizenship drops

Monarch&Co is a company that specialises in investor programmes for residence and citizenship in a number of territories around the world, with exclusivity for the Grenada Citizenship by Investment Programme in key African countries including South Africa and Nigeria. CEO, James Bowling, is excited about the opportunities opened up to investors interested in this programme by the lowering of the minimum investment amount.

Bowling says that the only way to invest in Grenada’s Citizenship By Investment Programme is through real estate investment. “The minimum real estate investment used to be $500 000 for a shareholding in the ownership and operation of the entire hotel along with the right to apply for one citizenship for one main applicant,” Bowling explains. “However, following much negotiation and heavy campaigning, the Grenadian government have agreed to drop the minimum amount that investors would need to purchase a shareholding from US$500 000 to just US$310 000.”

He notes that the drop to US$310 000 is expected to open up the investment opportunity to far more foreign investors, allowing them to take advantage of the many benefits that the programme offers. “Due to the fact that Grenada is a member of the United Nations and the Commonwealth of Nations, citizens of the country are able to travel to around 115 countries without the need of a visa. They also enjoy the added benefit of preferred access, and in some instances grants to many of the top learning institutions in the world,” says Bowling.

While the programme requires investors to keep their investment property for a minimum holding period of five years before selling, their citizenship is theirs for the rest of their lives.  “An additional benefit that investors have within the citizenship programme is that they are not liable for any income tax, capital gains tax or inheritance tax. Another advantage is that Grenadian citizens pay no tax on worldwide income, and Grenada recognises dual citizenship so investors may hold two passports. This means that investors do not have to forfeit any benefits they have currently have from their citizenship status in their own country. A Grenadian passport is valid for a period of 10 years and will be automatically renewed,” explains Bowling.

He points out that currently the investment programme is being extended to applicants by invitation only, subject to individual approval by the Grenadian government. Bowling says that for applicants to be approved they must be of outstanding character and have no criminal record. Other criteria includes that they are in good health and have a high personal net worth, with a qualifying investment in one of the designated real estate developments within Grenada. The Grenadian government has made the application process as easy as possible and the process of applying with the inclusion of dependent children below 26 years old will take no longer than three months. Applicants are not required to have any physical residence in the country, neither are they required to attend an interview in Grenada.

Bowling says that while the tax benefits and travel benefits have assisted in alluring investors to the programme, he notes that there are also the lifestyle benefits of living in Grenada that have attracted many to the programme. Aside from the fact that Grenada has a superior infrastructure when compared with other Caribbean countries,the temperate climate and unspoilt landscapes of Grenada have brought an influx of international tourism to the idyllic tropical island.

“For US$310 000 investors can experience living on a beautiful island that boasts a stable economy and excellent accessibility from multiple destinations. Grenada is fast becoming the citizenship by investment choice for the savvy investor,” Bowling concludes.

For more information contact:

South Africa

James Bowling at Monarch & Co on 011 883 9018

West Africa Office (Lagos, Nigeria)

Jerald Lebechi: geraldl@monarchandco.com

Or visit www.monarchandco.com