Grenada

QUICK FACTS

Location : Caribbean, island between the Caribbean Sea and Atlantic Ocean, north of Trinidad and Tobago

Capital : Saint George’s

Total Area : 344 sq km

Population : 111,219 (July 2016 est.)

Population distribution: approximately one-third of the population is found in the capital of St. George’s; the island’s population is concentrated along the coast

Languages : English (official), French patois

Religion : Roman Catholic 44.6%, Protestant 43.5% (includes Anglican 11.5%, Pentecostal 11.3%, Seventh Day Adventist 10.5%, Baptist 2.9%, Church of God 2.6%, Methodist 1.8%, Evangelical 1.6%, other 1.3%), Jehovah’s Witness 1.1%, Rastafarian 1.1%, other 6.2%, none 3.

Ethnic groups : African descent 89.4%, mixed 8.2%, East Indian 1.6%, other 0.9% (includes indigenous) (2001 est.)

Government type : parliamentary democracy (Parliament); a Commonwealth realm

GDP – per capita : $14,100 (2016 est.)

Climate : tropical; tempered by northeast trade winds

Legal system : common law based on English model

Unemployment rate : 33.5% (2013)

Visa free countries : 121 (2016)

Overview of the country – geographical Situation, accessibility

Flag of Grenada

Country located in the Caribbean Sea, it consists of the islands of Granada, Carriacou and Petite Martinique, which together constitute the southern part of the archipelago of the Grenadines.

Saint-Georges is the capital of Grenada. The international airport, Maurice Bishop, is located about 7 km north of Saint-Georges.

Rate of tax system on the physical persons living in the country

Grenada has an advantageous tax system for its new residents. The tax on income from the Grenadian source, compulsory, is at a maximum rate of 30%.

Capital gains are tax-exempt. Resident companies are taxed on their worldwide income, at a rate of 30%. However, capital gains and certain dividends are tax-exempt.

The standard rate of VAT is 15%.

Physical and legal Security of the country

Grenada is a parliamentary democracy, a member of the British Commonwealth of Nations. Its legal system is based on the British model.

The country is considered stable politically and the usual security measures are to be taken into account as in any country.

Programs of economic investments set up by the government of the country host, with new residents

Many Caribbean countries have transformed their economies primarily based on agriculture into a service economy. Grenada is one of them. The major source of foreign exchange comes mainly from tourism and the government favors the development of an offshore financial sector. It offers time and tax programs to investors, and equal treatment between domestic and foreign investors

The cost of living in Granada is low, as is the inflation rate and the stable exchange rate, making this country attractive to newcomers.

Quality of Life

Grenada is nicknamed “the spice island” for its cinnamon, its cloves, its curcuma and especially the mace and the nutmeg.

The new residents of Granada, as well as tourists, will be seduced by the wild beauty of the country, but also by the possibility of many sports activities, such as sailing, diving, golf and other local events. The most curious will not be able to resist the so special atmosphere of the indigenous markets, where you can taste, just out of a huge saucepan, the famous Caribbean black puddings.

A large number of rich families and investors live in Granada, and the quality of life on these islands is no longer to be proven.

Countries for which visas are not necessary any more

A visa issued in Grenada will allow you to travel to more than 70 countries, including the United Kingdom.  Grenada is one of the 3 countries of the Caribbean which gives access to the USA with an E2 type visa for investors.