(post by Readhead D.A.)
In a bid to acquire a new citizenship in another country of your choice, Caribbean countries offer lucrative and affordable conditions. Grenada and St Kitts top the list of countries in this category, with financial contributions from you — you can obtain any of these countries’ nationality. The question “Which of these countries will you choose?” now come up.
Grenada CBI Program: Key Benefits
Grenada is one of the countries with the world’s most produced cinnamon and nutmeg — this is intricately related to its evergreen nature and unique environment. 2013 marked the beginning of a new terrain for Grenada when it introduced the citizen-by-investment marketplace. It became the fourth Caribbean island to emerge on this feat with the likes of Nevis, Dominica, Antigua, and St Kitts. Main benefits of the Grenada CBI program:
- Family-inclusive passport rights. The Grenada citizenship system allows you to include your household during your entry process and even your grandparents — it’s such a wide range of benefits. Note that, the Grenada CBI program lets you have dual nationality, and you don’t need to renounce your initial citizenship.
- Reduction in Tax. Vladlena Baranove of the Immigrant Invest agency, remarked on the reduced taxation when she mentioned that the “Grenada CBI program doesn’t tax individuals on global income, dividends, interest, or royalties from other countries.” This means that there are no taxes on capital gains and stamp duties.
- Visa-free travels. Aside from other benefits, investors enjoy visa-free travel to 140+ countries.
The Grenada second passport by investment has done a lot of good to investors and has helped quite a number of them acquire their second citizenship.
Investment Choices
When considering the Grenada CBI program individuals have two investment paths to explore:
- Contribution to the National Transformation Fund (NTF). Investors have the option to make a refundable donation with requirements of $150,000 minimum starting amount for one applicant or $200,000 for a four-person family.
- Real Estate Investment. It requires a minimum contribution of $350,000 in real estate or $220,000 in shares of real estate projects that have received government approval.
In addition to the investment amounts mentioned above prospective investors should consider expenses such as diligence fees, application processing costs, and government-related charges.
St Kitts CBI program: Key Benefits
The St Kitts CBI program by investment presents a stellar opportunity for individuals and families seeking secondary citizenship. The advantages of this program are clear and compelling.
- Hereditary passport rights. The children of the investor can also become citizens when the right has been granted to the contributor.
- Global entry into other countries. The St Kitts CBI program allows entry into other countries in Europe and Asia for free. This investment mechanism opens access to entering other countries of the world.
- Access to long-term vacation. Investors can get time off for vacation as long as possible and there are no restrictions on the duration of vacations.
It was noted earlier by investment entry permit program expert, Vladlena Baranova (Immigrant Invest) that “investors don’t need to take a language proficiency test to obtain citizenship.” However, you have to contribute $250,000 to the country’s economic development to get these passport rights. This is the hallmark of obtaining St Kitts second passport by investment and it allows both parties to benefit from the relationship.
Direct Comparison of Grenada and St Kitts CBI Program
In light of this, let us see some differences between the Grenada and St Kitts program. To make quality choices between which of the second citizenship identity by investment, you want to pick, the table below will be relevant.
| Benefits | Grenada Citizenship by Investment Program | St Kitts citizen by Investment Program |
| Family Inclusion | Dependent children below 30 years, grandparents, and siblings of 18 years. | Siblings over 18 years, dependent children up to 25 years old, and parents above 65 years. |
| Tax | No tax on worldwide income, and wealth tax. | There’s no personal income tax. |
| Investments threshold | The minimum donation is $150,000 for a single applicant or $200,000 for a family of four. | Single applicants pay $250,000 and $350,000 for a family of four. |
| Rules on application timeframe | Usually within three to six months. | It is also fast and within four to six months. |
We have been able to consider some of the benefits Grenada and St Kitts programs, you can weigh your options and then decide based on the information you have here.
Conclusion
We have examined these two CBI programs and investors are at the discretion to pick any programs that meet their demands. Since both are very similar with little overlap, your decision should be based on long-term investment goals, stability, and other factors.
