You’ve enjoyed the sun, sand and sea, and it’s nearly time to pack and go home. Like many of our visitors, perhaps you’re already thinking of your next trip to the Spice Isle. Grenada has a high rate of return-guests, and it comes as no surprise that many consider investing in property here - establishing a home-away-from home, and your very own piece of paradise.
There are many opportunities for foreign nationals to invest in Grenada, and attractive benefits that come with it. Whether you’re considering purchasing a private villa, which can be rented out to pay for itself while you’re not using it, investing in the many hotel and time-share developments, or another business venture, the economy is booming and now is the time to do business in Grenada.
Grenada is a safe investment. The country has a stable parliamentary democracy, has enjoyed economic growth over the last 30 years, growing by nearly five per cent per annum and inflation has remained low, hovering at just below one per cent. The economy is diversified - while there is still an emphasis on agriculture, there is much investment in other areas, particularly tourism and services. Relatively undeveloped, there are still many investment opportunities that are not available in competitor countries, such as prime plots of land for hotels and other tourism-based businesses.
Citizenship by Investment (CBI)
Grenada is one of five Caribbean nations to offer this unique incentive to foreign investors. The Citizenship by Investment programme allows individuals and their families to obtain Grenadian citizenship and permanent residency in Grenada in exchange for a non-refundable donation of US$200,000 to the National Transformation Fund (NFT) or buying government-approved real estate of at least US$220,000. Applicants must apply through licenced local agents, and the process is very straight forward, taking 90-120 days, with no interview or experience needed, without a residency requirement.
There are many advantages of gaining Grenadian citizenship, including visa-free travel to over 115 countries, including the European Schengen Zone, UK, China, Hong Hong and Singapore. Grenadian citizens are not liable to pay tax on foreign income, capital gains, gifts, wealth or inheritance, and there is also full exemption from import duties and no restrictions on the repatriation of imported capital and profits.
For real estate enquiries, contact Altman Real Estate.
To find out more about investing in Grenada, get in touch with the Grenada Investment Development Corporation, specifically set up to facilitate and encourage the establishment and development of of business in Grenada.