Grenada Tax System: Property and Corporate Taxation

March 17, 2021

Mann’s Solutions has prepared an overview of Grenada Tax System to show what are the benefits and make citizenship application process easier. Obtaining Grenada Citizenship by Investment does not automatically mean that the investor will become the tax resident of Grenada, as an individual must spend at least 183 days within the country. Also, the Tax residents and non-residents are subject to tax on their Grenadian-source income. 

Although the Capital Gains are not subject to taxation, the first $24,000 (XCD) of Grenadian-source income is subject to a personal income tax rate of 10% – 30%. The benefit of the Grenada Tax System is that income retained in a foreign entity owned by a tax-resident may not be subject to taxation, as Grenada has not enacted Controlled Foreign Companies Rules. 

Grenada Tax System regime claims no tax on income, wealth, and inheritance.

Property Tax

 Property tax ranges from 0% – 0.5%, this depends on how the property is used. Transfers of real property are subject to a tax from 5% – 15% (depending on whether the property is sold to a resident or to a non-resident). The Value-added tax (VAT) in Grenada is 15%. 

Corporate Taxation

 Talking about corporations, Grenada Tax System may require a resident company to pay a flat tax rate of 30% on its worldwide income. On the other hand, companies that are incorporated under the International Companies Act are fully tax-exempt. The International Companies are entitled to do business outside the territory of Grenada and can benefit from almost non-existent accounting requirements, as well as maximum confidentiality.

Grenada Tax System

 • Property Tax 0% – 0.5%

 • Transfer Tax 5% – 15%

 • Inheritance Tax No

 • Net Worth Tax No

 • CFC Law No

 • Personal Income Tax Rate 30%

 • Investment Income Tax Rate 0%

 • Capital Gains Tax Rate 0%

 • Territorial Taxation Yes

 

Managing Director of Mann’s Solutions Evgeny Pavlov commented: “Grenada Citizenship offers a lot of benefits for individuals and businesses, for instance, the companies that are incorporated under the International Companies Act are fully tax-exempt.”

 

The Program Overview

Grenada Citizenship program is a fast-track and secure citizenship program. The only Caribbean program that allows settling in the USA, the Grenada Citizenship by investment program lets obtain a second passport within 3-4 months and grants visa-free access to over 143 countries worldwide. The program offers two investment options, a $150,000 government donation or a property investment from $220,000. 

Program benefits

Grenada Citizenship Program lets obtain a second passport in just 3-4 months. There are no residence requirements, therefore, the passport can be easily obtained remotely. Grenada allows dual citizenship, moreover, it is transferable to descendants and the whole family can apply for citizenship, including children up to 30, siblings, and parents. Grenada’s tax regime claims no tax on income, wealth, and inheritance. In addition to that, the USA E-2 Visa can be obtained through Grenadian Passport. 

Investment options

Grenada Citizenship by investment is available through two options. To qualify for the program, you can either make a government donation of $150,000 or invest in real estate on the island starting from $220,000.

1. $150,000 — Non-refundable donation to the government fund

Contribution to the NTF (National Transformation Fund) is non-refundable

 The donation amount may vary based on the number of dependents included in the main applicant’s application

 To qualify for citizenship as a single applicant, you will be required to make a government donation of $150,000, $200,000 for a family of 2, 3, and 4.

 

2. $220,000 – $350,000 Real Estate Investment

 Real Estate option should be approved by the government

 The property can be sold in 5 years

 

 LONDON BASED SOLUTIONS ADVISERS – Grenada Citizenship Program

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

 • Property virtual tours, 3-D tours, and in-person tours available.

 • Due diligence checks and additional property checks are completed by our experts.

 • Residency & Citizenship document preparation and submission.

 • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).

For further information or to discuss your personal circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com or call +44 207 993 63 46.