Investors Can Apply for the Reduced USD220,000 Grenada Real Estate Option starting April 1, 2019

Investors Can Apply for the Reduced USD220,000 Grenada Real Estate Option starting April 1, 2019
April 1, 2019 - News Grenada

Investors can apply for Grenada citizenship under a new reduced real estate investment option of USD220,000 starting April 1, 2019.

An applicant can become a co-owner of a single unit with at least one additional main applicant, when each main applicant pays a minimum purchase price of USD220,000 plus the usual government contribution of at least USD50,000 each.

Which real estate investments are eligible for the new price?

According to a circular published earlier this month by the Grenada Citizenship by Investment Program, the amendment to regulations under the Grenada Citizenship by Investment Act No. 15 of 2013 provides for the new investment option only in qualified approved projects within the Tourism Accommodation sector.

The previous minimum purchase price remains at USD350,000 plus the usual government contribution of at least USD50,000 for investments in Section 11 that are not in the Tourism Accommodation sector, and for those investors who prefer full ownership of a unit.

The amendment is a welcome change that allows investors to avail of a more competitive investment entry threshold while avoiding the erosion of the price of property in Grenada.

Benefits of Grenada Citizenship by Investment

The amendment is the latest in a series of steps taken by the Grenada Citizenship by Investment Unit to further strengthen its already highly desirable citizenship by investment program.

  • Application for Grenada Citizenship takes just 3-6 months to complete, applicants do not need to visit or reside in Grenada to apply, can maintain dual nationality and spouse and dependent family members can be included in the application.
  • Citizens of Grenada enjoy visa-free or visa on arrival access to 121+ countries including key business hubs such as the United Kingdom, the European Schengen Zone, Hong Kong, Singapore and China.
  • Grenada’s program is also the only citizenship by investment program to enable access to the E-2 Investor Visa Treaty with the US.

Exciting new real estate investment options

Global luxury hotel brand Six Senses announced in March that it would open a 5-star resort in 2022 as part of a master-planned development in La Sagesse area in St David’s, Grenada. The hotel will be developed by leading real estate developer Range Developments who specializes in developing luxury resorts in the Eastern Caribbean. Eligible investors in the project will be able to apply for citizenship in Grenada.

The Six Senses Resort will be the first of two 5-star hotels to be developed in the La Sagesse area which is expected to provide a further boost to Grenada’s popularity as a top-class Caribbean resort destination.

Want to find out more about applying for citizenship in Grenada via real estate? Visit email [email protected] , call us on +97145541449 or fill in the form below and our team will be happy to guide you on your second citizenship journey.

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