I’m a non-resident Indian looking to save on taxes in my home country. What options would you advise me if I choose Grenada as a country to get another passport? Would I have to give up my Indian passport?
Answers
As a Grenadian citizen, you only pay tax on income that is
earned or derived in the country and not on any income sourced outside the country. My understanding is India does not allow second citizenship so you would have to make a determination yourself as to whether or not you denounced your Indian citizenship. There are certainly benefits of having a second or alternative citizenship superior to that of your birth country, specifically when it comes to global mobility, visa free access and possible access to the U.S. through the E-2 visa program.
