Grenada’s exotic unspoilt idyllic beaches allured thousands of visitors with its wildly jagged mountain peaks, spice plantations, and lush green rainforests with white or golden sand, palm trees, and the delicate aroma from island’s native spices with authentic caribbean life. Major International airlines fly directly from Grenada to major American and European cities.
Grenada’s Citizenship by Investment Act 2013 allows individuals and their families to obtain citizenship or permanent residence in the country through purchase of property worth atleast $350,000. All investors will qualify for citizenship and passport within 3 months of time.
Grenada’s property market is expected to grow 1.8% from 2017. According to Global property guide, average housing prices are from $300 to $500 per sq.ft in residential areas, wheras the prices in luxury residential areas in Grenada ranges from $460 to $1,600 per sq. ft. Rental yields in the coastal areas are 4% to 4.5%. The property prices have surged lately, because of the demand from foreign buyers, and the launching of the Grenada citizenship program in 2013.
Non citizens of Grenada wishing to purchase property are required to obtain an Alien Landholding License and pay government taxes on the acquisition and disposition of more than 25% of the purchase and sale price. Grenadian citizens are exempt from such taxes and on disposition of real estate only pay a 5% conveyance tax property.
Most real estate developers will require 10% deposit of the purchase value and the balance is paid within 30 days after receiving approval letter from the Grenada citizenship unit. Owners will receive rental income from the property, minus all the operating costs and taxes. Stamp duty is 1% of property value, property transfer tax for citizens 5%, non citizens 15% on selling the property. Legal fee around 1-2% of property value, plus agent fee 5%. Of course you can just buy real estate as foreigner, and decide not to apply for citizenship, but the costs go over the roof.
The following are the government approved real estate developments, that will qualify foreigners for citizenship in Grenada under the CBI programme. Investors can buy full or fractional ownership in properties such as resorts, hotels, apartments and residence villas.
1. Grenada Resort
Grenada resort complex will be a world-class destination resort community at St.Georges, Grenada offering luxurious tropical lifestyle with numerous amenities and activities.
$350,000 onwards
2. La Pointe
La Pointe is an exclusive villa & spa resort with 63 premier villa residences set in over 30 acres of unspoilt beaches and sea views. This five star resort offers its residents an experience with superb facilities such as world class spa, fine dining at its restaurants and a variety of sporting activities.
$350,000 onwards
4. Mount Cinnamon
Mount Cinnamon is a boutique hotel, consists of 22 beautiful, privately owned villas (1/2/3 bed) and apartments with views towards the historic capital St. George’s, set on the most beautiful Grand Anse Beach white sand beach in Grenada.
$350,000 onwards
5. Kimpton Kawana Bay
Grenada’s luxury beachfront resort overlooking Grand Anse Beach. It will be run by Kimpton® Hotels & Restaurants, part of the Intercontinental Hotels Group®, one of the world’s leading boutique hotel operators. Luxury studio rooms, pool suites and penthouse apartments are for sale through Citizenship by Investment.
$350,000 onwards
6. Levera Beach Resort
Levera beach resort will feature hotels, cottages, luxury villas, and homesites on Grenadas north-east cost across 375-acres with sweeping views of the eastern Caribbean Sea and southern Grenadine Islands with white beaches and palm trees. Levera currently offers full ownership in 40 hotel cottages and 20 villas or equity ownership in turtle beach boutique hotel.
$350,000 onwards
7. Mariposa Residence
Mariposa development consists of 7 buildings and 14 condominium units built at Morne Rouge Bay, Grenada. Morne Rouge Beach with its white sand and crystal clear waters is ideal for swimming, snorkelling, and sun bathing. The resort is surrounded by gardens that include a wide variety of tropical palms, plants and flowers. New owners would hold a freehold interest in the real estate with co-ownership.
$350,000 onwards
8. The Point at Petite Calivigny
Resort and private residence with 12 condo townhouses and 4 villas with luxury finishes with spectacular views on Calivigny Island, Hog Island, and the marine sanctuary of Woburn Bay.
$350,000 onwards
9. The Sanctuary at Fiji Beach
Private Residence Resort is fully gated residential community at L’Esterre Carriacou, 20 miles north of Grenada covering 2.8 pristine acres, with two-bedroom villas and condominiums, and beautiful one-bedroom bungalows, all with amenities that make living most enjoyable.
$350,000 onwards
10. Hideaway True Blue
Hideaway True Blue Condominiums are located in the prestigious True Blue area of the capital city of St. George’s. True Blue is home of the world renowned St. George’s University which provides world class education through its Schools of Medicine, Veterinary and Arts and Sciences. Condominium project is an approved real estate project by the Grenada government for citizenship.
$350,000 onwards
11. Silver Sands
Luxury beach front villas and residences at Grand Ansee Beach in Grenada. Silver sands is government approved real estate development that qualifies for grenadian citizenship.
$350,000 onwards
If you want citizenship in Grenada, when buying real estate, you have to pay the following fees in addition to real estate price
| REAL STATE FEES | Single Applicant | Main Applicant + Spouse | Family of four family members | Family over four family members |
| Required Contribution Amount | USD 350,000 | USD 350,000 | USD 350,000 | USD 350,000 |
| Government Fee | USD 50,000 | USD 50,000 | USD 50,000 | USD 50,000 and USD 25,000 per additional dependant after the third dependant |
| Application Fee | USD 1,500 | USD 1,500 per person | USD 1,500 per person | USD 1,500 per person |
| Due Diligence Fee | USD 5,000 | USD 5,000 per person | USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17 | USD 5,000 per person aged 18 and over, USD 2,000 for each dependant aged between 12-17 |
| Processing Fee | USD 1,500 | USD 1,500 per person | USD 1,500 per person aged 18 and over, USD 500 for persons under 18 | USD 1,500 per person aged 18 and over, USD 500 for persons under 18 |
Grenada passport allows new citizens to travel without visa restrictions to more than 115 international and Commonwealth countries including United Kingdom, Schengen countries, Hong Kong, Singapore etc. Grenada is the only country that has visa free travel to China and has E2 treaty with the US giving grenadian citizens a great opportunity to do business in the US. Other benefits include, no requirement to visit or live in the country after getting citizenship.
There are no foreign income, wealth, gift, inheritance, or capital gains tax in Grenada.
