The economic, social and political challenges of 2020 have created the ideal conditions for many to consider investing in a second passport. This is according to Mohammed Asaria, Managing Director of range Developments who has assisted more than 4,000 people obtain citizenship by investment in the Caribbean.
Speaking in a webinar organised by Gulf News, Asaria foresees many governments under pressure will have to raise taxes on high net worth individuals in order to offset the impact of COVID-19 on the economy, which will drive many to invest in a second citizenship. He says the best CBI investment can in fact be found in the picturesque Island of Grenada.
Featuring a plethora of benefits for those looking for safety and security, as well as a gateway to US residency, Grenada’s is the only Caribbean CBI jurisdiction whose passport holders are eligible for the United States E-2 visa, allowing investors to live and work in the US.
Grenada’s CBI programme also has the greatest travel benefits when compared with other Caribbean nations, boasting visa-free travel to over 130 countries including the United Kingdom, China, Russia, Schengen countries, Hong Kong, Singapore and many others.
Asaria added that the tax benefits of the Grenada CBI programme are also extremely attractive to Indian nationals with fears of a new citizenship-based tax being introduced to the sub-continent in 2021. NRI’s are particularly interested in transferring their citizenship to avoid global taxes and are anxious to speed up the process in order to avoid the tax imposed on relinquishing their Indian citizenship.
Alongside Asaria in the webinar was the Honourable Peter David, Minister of Foreign Affairs and Minister of Labour in Grenada, who spoke of his country’s extensive incoming investments from Canada, the US, Europe and Dubai which have allowed the country to develop it’s education, health facilities and infrastructure to high standards.
The Minister spoke of Grenada’s fascinating history which allowed the country to offer its citizens the E2 visa to live, work and invest in the United States of America. In fact, there are as many Grenadians living in the US, as they are in Grenada. In terms of equality, new citizens who come through CBI enjoy equal rights and opportunites as other Grenadians.
By investing in Six Senses La Sagesse, the world-class resort being developed by Range Developments, those seeking a second a second passport will find an oasis in what will become the “Pearl of the Caribbean” once completed. The property from the multi-award winning Six Senses takes advantage of the breathtaking location, making it the ideal investment in one of the most beautiful countries on earth.
For a minimum investment of $220,000, successful applicants have access to all of the advantages of what Minister David says is “the Ferrari of CBI programmes.”He said while it was priced at a little more than other CBI’s, those who make the investment will enjoy far superior benefits, and could also be processed in as little as three months.
Minister David said his country’s outstanding handling of the coronavirus which has meant its impact has been minimal on the island, and emphasised the country’s developments, including the Six Senses Grenada, are not being hampered by the pandemic, and will be ready to welcome visitors as international travel and tourism not only returns to normal over the next 12 months, but should surpass pre-covid-19 levels.
The family-orientation of the Grenada CBI is also extremely attractive to investors, as it gives individuals the ability to include their spouse, children and siblings in the application.
Mohammed Asaria highlighted Range Developments’ track record of delivering world-renowned properties for tourism and CBI investment across the Caribbean. They are the only developer that has delivered on CBI real estate in St Kitts, Dominica and now in Grenada, helping over 4,000 investors attain a second passport.