Grenada is a young and energetic country that attracts more than 400,000 overseas tourists every year. It has excellent natural conditions and is located in the heart of the four continents of North America, South America, Europe and Africa. It is a gateway to the world and enjoys free trade in Caribbean organizations. The agreement is an ideal place for business full of opportunities. A large number of preferential business policies, such as import and export trade tax reductions, export trade allowances, and Caribbean trade tax exemptions, have contributed to this beautiful island country becoming an offshore tax haven, holding companies, exempt companies, property trusts, and offshore funds. The best place to set up.
The population of Grenada is only over 110,000, which is especially suitable for small and medium enterprises to start businesses here. In the national economy, agricultural production accounted for 6.8%, industrial production accounted for 15.5%; the service industry accounted for 77.7% of the GDP, and the main industries were: tourism, food and beverages, and light industry assembly. The local economy is mainly driven by tourism. However, the local tourist economy reception capacity is limited, which does not meet their goal of vigorously developing the tourist economy. Therefore, in March 2019, the local government adopted a policy to attract investment in the tourism industry, allowing investors who invest in tourism accommodation facilities to acquire Grenada citizenship at a lower price.
Since the resumption of diplomatic relations between China and Grenada in 2005, the two countries have had extensive exchanges in various fields such as politics, economy and trade, and culture. In particular, bilateral economic and trade cooperation has also been increasing year by year. On June 10, 2015, the governments of China and Grenada signed an agreement on mutual visa exemption, which took effect on the same day. According to this agreement, citizens of the two countries are exempted from visas for entry, exit or transit in the other country with valid passports. The visa-free stay period is 30 days. Grenada is the only Caribbean country where China is visa-free.
Dr. Juerg Steffen, CEO of Henry Passport Index, said: “The citizenship by investment program enables countries to grant residency or citizenship to individuals in exchange for large investments. The program is becoming the latest option for savvy investors to invest in safe havens because It brings new risk management and optimization options to high-net-worth investment portfolios." The current market turmoil and increased political risk (especially related to the coronavirus outbreak) are accelerating people’s use of residence and citizenship as their investment portfolio. A necessary component.
Under the background of CRS and foreign exchange control, the role of global asset allocation has become more and more obvious. The Commonwealth Passport project with convenient tax planning functions is popular with investors, and Grenada immigrants have taken advantage of the trend and become the first choice for the global wealthy nationality project. The investment thresholds of mainstream immigration countries are constantly increasing, the processing time is long, the cost is huge, and the immigration supervision is time-consuming and laborious, making the wind of investment immigration start to blow towards some "short, flat and fast" immigration projects, of which the Grenada immigration project is obtained with its short cycle and one step. The advantages of Commonwealth status and no immigration supervision stand out and are chosen by more and more investors. At the same time, Grenada is a Commonwealth country, which recognizes multiple nationalities; Grenada citizens can apply for U.S. E-2 visas without the need to wait for a long immigration schedule like domestic citizens. This is also favored by many people who need to live and work in the United States for a long time. .
By acquiring new identities to expand the scope of travel and market expansion, so as to obtain greater liquidity and more opportunities to avoid the danger of turbulent markets and political turmoil. This is the key factor in investing in overseas identities. In May 2019, Grenada amended Act No. 15 of 2013 to allow multiple investors to invest in the same government-approved project, and each investor’s investment amount is not less than US$220,000, and then he and his affiliates The applicant obtains Grenada status. In this context, the Minister of Foreign Affairs of Grenada and Singapore Hengsheng Group signed a strategic cooperation agreement to jointly build Grenada's national key development project-Grenada National Tourism Resort. This project is Grenada's largest foreign investment project. The investment is made by equity investment. In just two months or so, people can obtain passports for the whole family, which provides investors with a convenient, fast and safe opportunity to obtain overseas status under the protection of the law.