Becoming a Grenada citizen by investing in an approved real estate project gives investors the opportunity to recover some of their investment. Approved projects generally pay yearly returns to investors and can be sold to other Grenada citizenship applicants, or on the open market, after a five-year period of ownership. Most of the projects approved for citizenship investment fall within Grenada’s Tourism and hospitality sector – the country’s greatest revenue earner.
On a yearly basis, increasing numbers of visitors from first world countries and the Caribbean, flock to Grenada’s shores to experience the island’s culinary delights, its authentic culture, quintessential charm, and its alluring beaches and waterfalls. In 2018 Grenada was named the “Best Caribbean Destination” by Expert’s Choice, just one year after being named the “Destination of the year” by Expedia.
Though demand continues to grow for the destination, quality room stock is a limiting factor. It is to alleviate this challenge and accelerate the delivery of quality rooms that the government has approved certain real estate projects for citizenship investment.
Key Considerations When Choosing a Property
- Will it provide a share, fractional freehold, or freehold interest in the actual property being advertised?
- Will it be completed and in a time frame that allows the investor to benefit from yearly returns?
- Will it operate successfully and be an attractive investment option for potential future buyers?
- Does it limit the length of time an investor can own the property?
- Can it can be easily disposed of at the least possible cost to the current owner and in a reasonable timeframe?
- Does it provide a residence address?