A second passport is a powerful asset for talented entrepreneurs and international businesspeople seeking visa-free access to the world’s top business centers – including the EU and China.
While the advancement of communication technology and collaboration software has significantly changed corporate decision-making, there is one aspect of business success that is hard to substitute – physical presence and face time with your clients, staff and partners.
Business travel is, and will continue to be, a critical driver of the growth of large corporations and talented entrepreneurs seeking to increase their international market share.
Strong Indication
In fact, it is predicted that global business travel spend will reach 1.6 trillion U.S. dollars in 2020 — a strong indication of the desire to conduct business and build partnerships across borders.
One of the biggest hurdles facing talented entrepreneurs and businesspeople from certain regions is the onerous visa requirements of their native passports. There’s an increasing need to travel to the world’s largest and most influential markets with fewer restrictions if they want to take advantage of new opportunities for growth.
Increased Travel Freedom
An attractive solution is to acquire a second or even third passport, which provides international businesspeople with increased travel freedom in and around the world’s largest consumer markets.
Residence- and citizenship-by-investment – a concept that was created in the 1990s – provides an individual and their family members with the opportunity to obtain additional residence or citizenship in return for a significant economic contribution to a country.
Strategic Asset
In many respects, citizenship has become a valuable and strategic asset for talented and wealthy individuals and their families who want to operate globally, reduce their exposure to risk, diversify their investments, increase their international flexibility and open up new opportunities for growth.
Alternative residence and citizenship also allows individuals to reduce their tax burden and become tax resident in a country with more favorable taxation.
Attractive Program: Grenada
One citizenship-by-investment program that has attracted significant interest over the last few years is that of Grenada. The small island nation provides its passport holders with increased travel freedom, especially for individuals seeking to access the leading business destinations.
Grenada is ranked 37th on the 2017 Visa Restrictions Index compiled by leading residence and citizenship planning firm, Henley & Partners. Grenadian citizens can travel visa-free to 127 countries, including Singapore, the U.K., Hong Kong and, unique amongst the Caribbean programs, China.
For Work and Study in the U.S.
Grenada further distinguishes itself from other investment migration programs as it provides the opportunity to apply to live, work and study in the U.S. via the E-2 Investor Treaty.
As far as citizenship programs go, Grenada has one of the best in the Caribbean, according to the Henley & Partners Global Residence and Citizenship Programs 2016 Index.
Purchasing Property
The index provides a comprehensive, systematic analysis and benchmarking of the world’s most relevant residence- and citizenship-by-investment programs.
Purchasing property is the preferred way to obtain Grenadian citizenship — an applicant may qualify for the program by buying a property with a minimum value of 350,000 U.S. dollars. Alternatively, an applicant may qualify by donating 200,000 U.S. dollars to the country’s National Transformation Fund.
Appointed by the Government
Citizenship-by-investment programs – particularly Grenada’s – provide a mutually beneficial solution that meets the needs of both governments and a growing movement of global citizens.
In 2016, Henley & Partners was appointed by the Government of Grenada to revitalize its citizenship program, and in doing so, helped to significantly grow the country’s economy.
Sustainable Long-term Employment
The funds and interest generated through the program has led to the creation of sustainable long-term employment, specialist training, and the general broadening of skills for many Grenadians. This is evident in the country’s economic growth, which experienced an increase of 3.9 percent in real gross domestic product (GDP) in 2016 with sustained growth of 3.3 percent predicted for 2017.
As businesses increasingly operate on a global scale, those individuals and entities seeking international growth are likely to become more interested in the services of firms offering residence and citizenship planning solutions.
Henley & Partners has assisted thousands of mobile entrepreneurs and talented individuals and their families to broaden their horizons. As the pioneer of the concept of residence- and citizenship-by-investment, it has over 20 years’ experience and offers the world’s best investment migration programs.
The firm’s highly qualified professionals work together as one team in over 25 offices worldwide, to meet the needs of the growing market of mobile entrepreneurs and wealthy families.
