Richard W. Duncan, Chairman of the Grenada Citizenship by Investment (CBI) Committee, announced the appointment of Thomas Anthony as the new Chief Executive Officer (CEO) of the Grenada CBI Unit, effective April 3, 2023. Karline Purcell, Deputy CEO, has been acting as Chief Executive Officer since 2021 and shall continue as Deputy Chief Executive Officer.
As Chief Executive Officer, Thomas Anthony will be accountable for leading and implementing the vision and strategies of the Grenada Citizenship by Investment Programme with due regard for economy, efficiency and effectiveness in compliance with Grenada Citizenship by Investment Act, 2013 as amended and regulations; and in accordance with best practices; and the attainment of all Key Performance Targets.
Thomas Anthony is a Certified Financial Crime Specialist (CFCS), an Accredited Director (Acc. Dir.), and a member of the Chartered Institute of Bankers (ACIB).
Previously, Thomas Anthony served as Project Development Officer, Deputy CEO and CEO (Ag.) of the Antigua Citizenship by Investment Unit from 2013 to 2017; Global Head ICV (Immigration, Citizenship and Visa) at Exiger, a global Governance, Risk and Compliance firm from 2017 to 2018; and CEO of the Grenada Citizenship by Investment Unit from 2018 to 2019.
What is Grenada Citizenship by Investment (CBI)?
The Caribbean island country of Grenada, nestled between St. Lucia and Trinidad and Tobago, about a 3.5-hour flight southeast of Miami, is one of 5 Caribbean countries to offer citizenship-by-investment. Grenada’s citizenship-by-investment program has accepted 1,500 residents yearly since 2013.
There are two roads to Grenadian citizenship
The first is based on a $150,000 donation to a fund that helps the country fix up and maintain its roads, bridges, and hospitals.
The second kind is based on investment in certain real-estate projects approved for the program by the government. Prices start at $220,000 for a share of a hotel or resort and top out at $350,000-plus for fractional or full ownership of non-hotel properties like condos and villas.
Grenada’s citizenship-by-investment program doesn’t require citizens to live in the country for any amount of time, but it does come with some perks if you do.
In Grenada, individuals and companies only pay income tax on income derived from within the country and its tax rates are generally considered favorable compared to other countries’. Grenada also doesn’t tax capital gains, including the profit from a sale of a property or investment. Grenada also has no withholding or inheritance tax, meaning funds aren’t withheld from paychecks for taxes and assets can be passed down at no cost.
To be a Grenadian tax resident, the country requires 183 days of residence on the island a year.
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