Imagine waking up to miles of beaches, breathtaking mountains, and lush greenery. Let’s not forget trips to cascading waterfalls and paddling in rushing rivers. All that and more is possible in the Caribbean island of Grenada.
Relocating to the Island of Spice, as some people refer to it, is a dream worth aspiring for. As luck would have it, you are one of the lucky few planning to move to Grenada. But, before you start to pack your bags, there are some things you need to know.
1. Basic Facts about Grenada
Grenada is a small country, covering a mere 344 square kilometers. The most popular tourist destination is the capital city, Saint George. The population of the whole country stands at 113,401. Indeed, there hasn’t been much of a significant change in the number over the years.
The official language of the country is English. Some speak Grenadian Creole, French Patois, and Antillean Creole.
The dominant religion is Christianity. But, you will also find a mix of Muslims, Hindus, and Rastafarians.
2. Citizenship Opportunities in Grenada
Countries like Canada, UK, and USA fall under the Grenada visa-free countries. Members of CARICOM and the Commonwealth also enjoy the same privileges. That means you can stay in the country for up to 3 months without having to apply for a visa.
If you want to stay a little longer, you must seek an extension visa. Find out the application process and requirements from the Grenada immigration department.
But what if you want to live in the country as a citizen? Well, you can apply for permanent citizenship in Grenada. But, you must live in the country for two years.
The other option is to apply for naturalization. For this, you must have stayed in Grenada for at least seven years. Within this, two of those must have been as a permanent resident.
Grenada Citizenship by Investment Program
The fastest way to get a Grenada passport is via the citizenship by investment program. The government has set aside investment avenues for foreigners. For the country, the money goes towards economic growth initiatives. The programs also create employment opportunities for the natives.
Grenada citizenship by investment offers the following options. Please note, the figures are reflective of the first half of 2022.
- Real estate investment with at least $220,000. Please do note that there are other fees you need to be aware of because you will be liable for them. These include passport fees, due diligence, and government processing. The minimum period of ownership of the real estate is five years.
- Financed real estate comes in at $132,000. Licensed moneylenders provide financing that you should pay back within five years. The other option is to let them assume ownership of the property if you cannot make the payments.
- Donate to the Grenada National Transformation Fund. If you are moving on your own, expect to pay no less than $150,000. Families comprising four people will pay $200,000. Like in the case of real estate, there will be applicable fees.
Why Grenada Citizenship by Investment Makes Sense
So why is the Grenada citizenship-by-investment program so attractive? The most obvious is you do not have to go through the two-year waiting period. Other advantages include:
- Direct access to the USA via the US E-2 Investor Visa treaty.
- Access to Grenada passport visa-free countries totaling 141. This includes the UK, China, and EU countries.
- Citizenship for the whole family, including the spouse, minor children, and grandparents. You can also bring along dependent children under 30.
- All the rights and benefits that Grenada citizens enjoy.
If you decide to pursue this line of citizenship, please seek the services of the right agencies. The professionals will walk you through the process. It also helps to avoid any situation that could see you falling into the hands of scammers.
3. Living Costs in Grenada
The cost of living in Grenada is relatively inexpensive. Of course, it all depends on your native country of origin. Those moving to Canada from the UK or USA will see a major reduction in daily expenditure. The tax regime is also quite favorable. The government does not tax capital gains, inheritance, or worldwide income.
The healthcare system in Grenada is also quite advanced. The main medical facility is the Saint George General Hospital in the capital city.
Public transportation networks are well developed. Transportation options are plentiful, including taxi, train, or bus. Of course, you can also opt for a personal car to get around.
Rental costs in the city center will set you back about $400 for a one-bedroom. You can get more value for your money by living outside of the city. If owning a home seems like a better idea, there are tons of options. For about $160,000, you can become a property owner.
Remember, there is the option of real estate investing under Grenada citizenship by investment. In that way, you kill two birds with one stone. The first is that you get citizenship and the second is that you become a property owner.
Like any other country, the cost of living depends on you as an individual. You can, for example, save quite a bit by cooking instead of dining out all the time. Public transportation is quite cheap. So if you can, avoid using taxis or personal vehicles where there is a well-developed road network.
Final Thoughts
Grenada would be a dream destination for many people. Living the best of your life in an idyllic setting is something many would wish for. The Caribbean island offers citizenship opportunities.
The first option is to live in the country for two years and apply for permanent residency. The other fantastic option is to go with the Grenada citizenship-by-investment program.
Taking the real estate investment route means you become a property owner. And, you will immediately own a Grenada passport. Best of all, it covers you and your family, making it a worthwhile investment.
We reiterate a piece of advice we gave earlier in the article. If you are looking for citizenship investment opportunities, seek the services of experts.
We hope you found this blog post 8 Factors to Consider Before Moving to a New State useful. Be sure to check out our post The Moving Checklist For Organizing The Entire Move for more great tips!
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