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Bangladeshi Investors Say “Yes” to Grenada Second Citizenship

Migronis Blog
18 December 2020

According to the 2019 CBI Index, Grenada took the third place in the ranking of reliable and reputable places for achieving a second passport. With 87%, it followed Dominica and St. Kitts and Nevis (the difference between the runner-up and the bronze medal was two percent only).

The program belongs to the long-standing projects on the market and has gained a great popularity so far. Its beneficial conditions attract the attention of thousands of applicants each year. The Bangladeshi population is one of the sincerest program’s fans.

Bangladeshi Investors Say “Yes” to Grenada Second Citizenship

The reasons for this are hidden in the economic state of the country. Stay with us to get more detailed information!

Bangladesh Case: A Way to Economic Miracle

In the 1970s, Bangladesh was considered one of the poorest countries in the world. According to experts, around 70-80 percent of population was below the income poverty line. During the independence years, numerous positive changes took place. Even though there is a lot of room for improvement, life standards have become more favorable for several population groups. Due to national programs realization which aimed at increasing levels of education, health protection, social assistance, etc., the number of poor people decreased to 24.3%. Another significant improvement concerns a Bangladeshi medium life span: it increased by more than 1.5 times.

The country belongs to the group of middle-income lands. By 2021, the government plans to bring the local revenues to an average world level. It should also be emphasized that Bangladesh has fulfilled the Millennium Development Goals and is actively involved in the Sustainable Development Goals implementation.

As a result of the economy’s sectoral structure transformation, which happened in the past decades, Bangladesh has turned out to change its status from an agrarian to an agrarian-industrial land. So, while in 2000 the share of agriculture in GDP was 25.5%, industry part — 25.3%, services — 49.2%, the situation was like follows in 2016: these parameters reached 14.8%, 28.8%, and 56.5% respectively.

Bangladesh

Unfortunately, there is a high probability that new shocks and checks await the Bangladesh economy:

 

  1. Firstly, the reason for that may lie in the high sensitivity of the country’s economy to changes in the competitive situation in the world sector.
  2. Secondly, the situation in the CCG countries has a significant impact on the state of Bangladeshi economy.
  3. Thirdly, due to its geographical location, the country’s territory is a subject to frequent natural disasters, causing significant damage.
  4. Fourthly, fast-growing economies are characterized by increased corruption, favoritism, and inequality that impede progress.

As the example of many lands shows, social regression leads to a difficult and lengthy economic regression. However, if the government can confront these risks, Bangladesh has several chances to become a so-called new Asian Dragon.

In this quandary of uncertainty, a lot of wealthy people prepare “Plan B” to protect their business development and careers in general from collapse.

A second passport is absolutely included to the list of widespread solutions that Bangladeshi residents prefer when trouble-solving. The Caribbean region offers leading conditions in terms of their prosperity “skills” for participants. However, one of them has more distinguishing and valuable features.

Main Narration: Grenada Offer’s Power

Ease of Travelling

Grenada passport allows participants to visit more than one hundred and thirty lands in the world in a visa-free regime. You are welcome to travel to all the Schengen zone countries, Great Britain, South Korea, Hong Kong, etc. As you can see, it is possible to make business (and not only) trips without borders in the literal sense.

Bangladesh

Way to E-2 Visa

Grenada is included in the USA treaty which allows its residents to apply for the E-2 visa and start a business in the States. If your native country doesn’t have such an opportunity, a Grenada passport is a legal way to become an American resident.

Family Values

Without a doubt, an individual can hardly survive in society without support and encouragement of the most beloved people. In this perspective, Grenada authorities allow the main applicant to be accompanied by his family members, including spouse, children up to thirty years old (there are some restrictions though), and parents.

Smooth Procedure

On the one hand, it takes just a couple of months usually to get a reply from the Grenada authorities. On the other hand, the passport is issued for five years term. At the same time, its extension takes around a week only. For this, participants are not required to visit the host country.

Stay Requirement

A common visa obliges an applicant to spend over one hundred and eighty days on the territory of the host land. However, the Granada case is completely opposite: the authorities don’t make you stay in the land if you don’t have such a plan or will.

Offshore Options

Grenada is a powerful offshore zone, which can’t help but please businessmen.

Bangladesh

 

Tax Remissions

Grenada is not only a natural paradise, but also a tax one. There is no taxation on world income, inheritance, capital gains, etc.

Returnable Investment

If you prefer the option to purchase the local real estate and therefore achieve a Grenada citizenship, then you are free to return the spent funds back. How is it possible? First of all, participants can resell their Caribbean property after a four-year term. Secondly, the let-for-rent option is available during the ownership period.

Closing Remarks

All in all, Grenada is an advantageous strategy for wealthy Bangladeshi population to improve their living standards, develop international business, and use other benefits of the offer like family move in the Caribbean region. If you want to get to know more about the applying procedure for a Grenada passport, watch the video:

With citizenship of Grenada or any other CBI Caribbean country, it has never been easier to change a business flow. See for yourself!

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