India is a developing nation with the third-highest number of billionaires globally and is home to some of the wealthiest people. As the pandemic hit the country with severe economic effects, leaving millions unemployed, the country's affluent population got wealthier by 35% during the lockdown. With this significant and rapid growth of wealth, many high-net-worth individuals (HNWIs) have shown keenness in acquiring greater global mobility, giving rise to CBI schemes (Citizenship by Investment) with a specific interest in gaining backdoor entry to the United States of America.
Today, living the American dream has become harder for most as the US suspended the H1B and L1 visas, and wealthy Indians seek investment alternatives. One such lucrative option is the US E-2 Investment Visa under the Grenadian Citizenship by Investment programme.
How does Grenadian Citizenship provide an easy step into the US?
Grenada has a treaty with the US that allows approved E-2 Visa holders to live in the USA with their families, start a business in the country, and travel visa-free to over 143 countries, including the UK, EU, Russia, and China. Other benefits include employment opportunities for the applicant's spouse and in-state tuition for their children. The visa processing is at the consulate without the applicant visiting Grenada during the application process in a record time of 60-90 days. Apart from this straightforward visa process, here are some of the top reasons for the increased demand for Grenadian Citizenship among Indians.
Tax Benefits
The tax policy in Grenada is one of the most sought-after benefits for most resident and non-resident Indians. The country doesn't levy foreign income tax, inheritance tax, wealth tax, property tax, gift or capital gains tax. Grenada also exempts import taxes with no limits on the flow of capital back home and attracts business with various corporate tax incentives.
Real Estate Investment Opportunities
Many Indians are usually on the real estate investment watch looking to invest funds for long term returns. To gain citizenship in Grenada, one must buy a government-approved property and own it for five years. The minimum required investment is approximately 220,000 USD, appealing to many investors looking for real estate opportunities and keen on secondary citizenship.
Safety and Quality of Life
Grenada is a beautiful Caribbean country with a steady economy growing at 5% a year. It provides a haven for one's family with plenty of employment and top educational opportunities with a low cost of living. Grenada also allows people to own dual citizenship along with easy access and entry to the United States. Its English-speaking population makes it easy for immigrants to fit in without giving language tests or learning a new language altogether.
Today, not just resident Indians but even NRIs are looking to secure a secondary residence or citizenship, and Grenada fits the bill perfectly for many who find it challenging to wait in line for years before their entry to the US materializes. This tropical island has proven to be the first step towards a better life and the American dream of Indians waiting to invest their way into the United States of America through Grenada as the gateway.
