Understanding Grenada’s Citizenship by Investment Program: A Boon for Indian Millionaires

The Grenada Citizenship by Investment Program offers individuals and their families a gateway to acquire Grenadian citizenship through specific investments in the country. Established with the aim to stimulate economic growth, attract investments and create jobs, this program has gained significant traction among global high net worth individuals. Among the list of beneficiaries, Indian millionaires are increasingly leveraging this opportunity.

According to a recent report from Morgan Stanley, between the years 2014 to 2018, over 23,000 Indian millionaires sought the advantages of alternative citizenship programs. An estimated 6,500 high net worth individuals (HNWIs) are set to leave India in 2023, as per a private migration report.

However, for those eyeing foreign citizenship, it’s crucial to note the Indian Constitution’s stand on dual citizenship. Indians are required to renounce their Indian citizenship upon obtaining citizenship of another country, ensuring their compliance with the constitutional mandate.

So, what makes Grenada a favoured choice? Apart from its rich history and breathtaking natural landscapes, Grenadian citizenship comes with a plethora of benefits. Grenada Passport Holders can travel visa-free to over 130 countries. The country also offers privileges such as the absence of property taxes on land ownership and preferential treatment for residency visas in various other nations. One significant advantage for those aiming at expanding their horizons is the access Grenadian citizenship grants to the E-2 Investor Visa Program. This program enables individuals to live and work in the US, a prospect enticing to many HNWIs.

The Grenada Citizenship by Investment Program represents an opportunity for individuals to broaden their global reach, be it for business, travel, or lifestyle purposes. And with the increasing trend of Indian millionaires seeking alternative citizenships, Grenada’s offering emerges as a compelling investment migration proposition.

For those considering the Grenada Citizenship by Investment Program, partnering with an investment migration expert like FRR Immigration can certainly make the journey more seamless.

*Information Source: Economic Times