What real estate to buy in Grenada to get a passport as well as money
Caribbean citizenship by investment is obtained for easy worldwide travel, tax optimization, and conducting international business.
Grenada citizenship also allows issuing a business visa in the US, which lets one reside and work in the country.
Since 2020 investors have been increasingly choosing the real estate purchase option. Caribbean objects are liquid assets, with an opportunity to earn additional annual income.
Author •Albert Ioffe
Legal and Compliance Officer, certified CAMS specialist
What real estate to buy in Grenada to get a passport as well as money
Grenada is a small island state in the Caribbean. It has long stark white sands and lush jungles, sinkholes and submarine volcanoes, conquistador-era buildings, and modern business complexes.
Investors have been obtaining Grenada citizenship since 2013. The demand for investment citizenship grows every year. This is backed by the program’s statistics, published annually by the country’s Ministry of Finance, Planning, Economic Development, and Physical Development.
In 2022 Grenada passports have already been issued to 119 investors and their 272 family members. Since the program’s inception, around 5700 people have got citizenship.
Real estate purchase is the most popular option among investors. It’s chosen by almost 66% of the program’s participants. All objects that investors purchase are approved by the government of Grenada. These are mostly hotels and condominiums.
Grenada offers investment to buy a share in a project, a villa, or an apartment. The joint participation costs the least — starting at $200,000. To buy an object in full ownership, a minimum investment of $350,000 is required. After 5 years of property ownership, it is permitted to sell the asset and return the investment.
The profitability of Caribbean real estate can be compared to that of and has a 3—5% annual yield. Management and renting are usually handled by a property management company: investors don’t have to search for tenants or maintain the property themselves.
Four promising real estate projects in Grenada
Studio or apartment in a residential complex near St George’s University
Square footage — starts at 37 m²
Price — starts at $350,000
Yield — 3% per annum
Location — Saint George Parish
The project is a six-story residence located in front of St George’s University. It is considered one of the best in the Caribbean. Also, the international airport if Grenada is next to the residence: a five-minute car drive away.
Right now the residence is mostly occupied by students who rent the studios or the apartments during their school years. Therefore, the demand for this object is consistent every year.
On the apartment complex’s grounds, there’s a fitness club, a restaurant, a roof bar, and a barbeque-equipped garden.
Share in the InterContinental Grenada Resort
Price — $220,000
Yield — up to 5% per annum
Location — Saint George Parish
InterContinental Grenada Resort — a new project recently approved by the Grenada government. The construction will start in the summer of 2022. The hotel opening is scheduled for 2025.
The resort will be located in the southeast of Grenada in the Saint David Parish. 50 meters from the future hotel there’s the La Sagesse beach and the bay under the same name. The resort will have restaurants, bars, a spa, and fitness clubs, as well as a swimming pool with a grill area.
The road from the complex to the Maurice Bishop International Airport and the Grenada capital of Saint George’s will take around 30 minutes by car.
Share or apartments in a university town
Price — starts at $220,000
Yield — up to 5%
Location — Saint George Parish
The new university town will be built in Hartman Bay. 2 km from the complex where’s St George’s University. The town grounds will have a student campus, a hotel, malls, and centers for sports and entertainment. The first object will be finished in 2022 already, and the entire complex is expected to be finished in 10 years.
The structure of the buildings in the university town was designed with Dominica island’s natural landscape in mind, thanks to which it is known as "The Nature Island". Students and guests of the university town will have leisure zones equipped for them: terraces, parks, and outdoor cafes.
Share in the 5-star resort complex
Price — starts at $220,000
Location — Saint Patrick Parish
The resort is located near Levera National Park which is open to the public. Tourists can go for a hike, see mangrove woods and rare plants, and encounter tropical birds and animals.
The resort will have a 5‑star hotel, a mall, a casino, a golf course, a watermark, and yacht docks. The hotel will include 500 rooms, a gym, a pool, and a restaurant.
What an investor gets for purchasing real estate in Grenada
Second citizenship for the entire family. The investor can add their family members to the application:
a spouse;
children under 30 years of age;
parents;
siblings over 18 years of age.
Global mobility freedom. Grenada passport paves the way to 144 countries, including the Schengen states, the UK, and China.
US visas. Investors and their families can apply for a tourist B‑1/B‑2 visa. It is issued for 10 years.
Grenada citizens have a unique opportunity to obtain an American business visa E‑2. It allows the investor and their family to live, work, and study in the US. Obtaining it requires establishing a company in the US, or to invest in the existing one. There are no minimum investments in the law, but in reality, investing at least $100,000 is enough.
Opportunity to register a company. Investors often register international companies in Grenada for tax burden relief. The income tax for companies is 28%, and the VAT rate for most goods and services is 15%.
Grenada citizens also don’t pay taxes on capital gains, global income, and dividends from other countries.
Immigrant Invest is a licensed agent for government programs in the EU and the Caribbean. If you want to obtain a residence permit or citizenship by investment, please contact investment program experts for advice.
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