The Ministry of Finance and Energy wishes to remind all concerned that, as part of the reforms under the Homegrown Programme, the concessions to Returning National were adjusted as of May 9, 2014.
In this regard, Returning Nationals are now eligible for:
50% concession on a vehicle. The vehicle may be purchased locally, if so desired. The exemption will be valid for three (3) years. If the vehicle is sold within three (3) years of the concession being granted, the Returning National is liable to repay the taxes forgone. With respect to the environmental levy—vehicles 1-5 years will attract a 2% CIF value and vehicles over 5 years will attract a 30% CIF value.
100% exemption on all household and personal effects, whether new or used, up to EC$75,000.00
Tax incentives for setting up business
Please note that Customs Service Charge of 6% is applicable on all imports under this revised Programme
Persons who can benefit from this Programme must be Grenadian and must have been living abroad continuously for seven years and have decided to return to Grenada on a permanent basis. Anyone applying for this Programme must provide:
Proof of eligibility (Includes but not limited to):
Valid Passport
Proof of nationality
One-way ticket to Grenada
Retirement letter
The Returning Nationals or “Welcome Home Programme”, as it is officially called, is an incentive package for Grenadian nationals who are returning from living abroad to permanently reside in Grenada.
The Concessions Desk is located in the Ministry of Finance and Energy, Financial Complex, the Carenage, St. George's.
Source: gov.gd
sean and Gabe, We first have to ask the Ministry if they mean retirement age or Pension age. People may retire from a job because they have been working there for many years but still could work somewhere else because they have not reach pension age yet
Public workers can retire after working for 20+ years
BUT DONT THE GOVERNMENT OF GRENADA WANT PEOPLE TO RETURN TO HELP BUILD THIS COUNTRY. THOSE HERE ARE DOING A TERRIBLE JOB
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By: sheila Jones 8/11/2015 6:13:39 PM
Mr Minster of finance i must agree with Sean Mitchell ,for although this looks good on paper ,i do believe that we need more clarifications on the five points proviso,because i believe that the real reason for relaxing the conditions as you say is to attract grenadian wishing to come home and invest and to me the provision of proof of eligibility in my viev will deter young aspiring grenadians who have not yet reach the age of retirement away from taking part in such venture/schemes.
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By: Gabe 7/29/2015 11:59:21 AM
I believe the Retirement letter requirement unfairly penalizes slightly younger JCB's who may not have yet reached retirement age but want to return home on a permanent basis.
