St Lucia vs. Grenada: Comparison of Two Isles

Thanks to special programs for wealthy foreigners, it has become possible to develop business, take care of one's capital, and obtain citizenship. Thus, dozens of countries attract the attention of foreigners and offer to participate in the program according to the requirements.

For a simplified search, a wide range of options can be categorized. For example, Imin Caribbean agency specialist Acyr Jardim presents St Lucia citizenship by investment and the second program of Grenada. These countries are very similar at first glance, but their offers are favorable for different reasons.

St Lucia citizenship program

Acquaintance with the programs of the Caribbean Islands begins with clarifying the cost. The offer of St. Lucia intrigues with a minimum investment of 100 thousand dollars. For this reason, the Caribbean island program is the first one considered by wealthy immigrants.

Requirements

Applicants for St Lucia citizenship are subject to a mandatory background check. It is first carried out by a certified agent and then by the government authorities. During the inspection, it is necessary to prove that the foreigner has obtained the capital legally and does not pose a danger to permanent residents. Thus, the list of requirements consists of:

1. Minimum age. Investors over 18 years of age may apply and participate.

2. Trustworthiness. No criminal record and no open criminal cases are checked first.

3. Medical history. Appropriate documents confirm the absence of dangerous diseases (e.g., tuberculosis).

The preliminary screening process allows one to get information about the immigrant's eligibility and complete the required paperwork. 

Benefits

Traveling around the world and the possibility to conduct business negotiations without a visa is the first advantage of the program. High standard of living, budget participation cost, and the opportunity to add other relatives to the application make the offer even more attractive.

Grenada citizenship program

It is possible to receive a decision on the application within six months. In addition, the country is actively developing infrastructure for comfortable recreation and living within one island. Other benefits of Grenada citizenship and a detailed offer description are posted below.

Requirements

The minimum age and package of documents correspond to the previously listed requirements of the previous program. Thus, the applicant is exempted from the examination for knowledge of the language and history of Grenada. The requirement of mandatory residence on the island and the availability of a residence permit are absent from the list of conditions. This is an important advantage for interested investors.

Benefits

Despite the limited choice of options, getting a Grenada passport attracts interest. A favorable decision on the application allows the foreigner to:

• cross the border while restrictions are in place (e.g., island bans);

• return the investment made during the first five years of residence;

• acquire real estate on the island for the development of the tourism business;

• take the simplified pathway of obtaining the E-2 visa to visit the States.

A favorable taxation system makes it possible to avoid double taxation and increase the amount of capital. Payment of taxes is not provided in some cases (inheritance, growth, dividends). Also, the owners of the company are offered loyal working conditions.

Programs comparison

Having standard provisions in programs does not hurt countries, and sometimes it attracts even more. Wealthy entrepreneurs can choose the best option based on their vision. Among the key differences in the proposals of the island countries are:

1. Many ways to invest. It is possible to obtain a Grenada citizenship after making a contribution or purchasing real estate. On the other hand, St. Lucia offers a choice between contributing to a government fund, buying bonds, purchasing real estate, and establishing a new company.

2. Application processing time. An investor's application in Grenada will be processed within six months, while St. Lucia offers the same process in 4 months.

3. The amount of investment for participation. An investor who signs up for participation in the program of Saint Lucia contributes at least 100 thousand dollars (it is a non-refundable contribution to the country's fund). For Grenada citizenship, it is necessary to spend a little more – the minimum amount is 150 thousand dollars.

Since Saint Lucia's second citizenship program came into existence in 2015, the government has been making some edits. Grenada's offer remains available for ten years, making it more predictable.

Conclusion

It is not easy to choose between similar offers, so you need the help of a specialist. It is worth determining your preferences and expectations in advance to make the consultation productive. The expert will consider the identified conditions and help with the search for the program.

In addition, pre-checking by accredited agents increases the likelihood of approval. Include relatives in the application to ensure that they receive a quality education and a comfortable and safe environment.