Grenada: Citizenship By Investment – The Ultimate Hedge

Travel & Tourism

Posted on November 14, 2020 AuthorNdubuisi Ugah Comments Offon Grenada: Citizenship by Investment – the ultimate hedge

It’s no secret that the worldwide COVID- 19 pandemic has taken a huge toll on many industries, including tourism and hospitality. However, this doesn’t mean that investors should shy away from the opportunities that lie within the hospitality and real estate sectors when they come with the added bonus of citizenship by investment. There are a number of reasons why these investments remain viable, particularly through a structured approach such as a Citizenship by Investment (CBI) programme. Outlined below are the top reasons investors should consider.

GOVERNMENTAPPROVED PROJECTS

By participating in a CBI programme and investing $220,000, plus associated government fees in a government-approved real estate project, investors and their families are granted dual citizenship, among other benefits. One of the island’s government- approved projects is the ultra-luxury Six Senses La Sagesse, a new project by top resort developer, Range Developments. Slated to feature one hundred luxury rooms and suites, oceanfront villas, spas, shops and watersports’ facilities, La Sagesse is expected to be completed by 2022. Six Senses is considered one of the world’s leading luxury hotel brands and is part of the Intercontinental Hotel Group.

CBI PROGRAMME BENEFITS

In addition to the Grenada citizenship for the investor, the programme also provides expeditious processing (within three months without the need to visit or reside) of second citizenship for parents, grandparents and unmarried siblings of the investor, visa exemption for travel to approximately 140 countries (including the United Kingdom, Schengen, Russia and China) and no visit or residence on the island is required. One of the key benefits of this CBI programme, and one unique to Grenada among its regional peers, is access to the USA E2 visa application, allowing investment and residency in the United States. Upon making a further investment in their own business in the United States (suggested minimum amount is $150,000), a citizen of Grenada can invest and reside in the US. A US E2 visa typically has a sixweek approval process and is becoming a recognized alternative to EB5, given the current backlog and waiting list.

Low number of COVID-19 cases

With no more than a handful of cases in total over the past few months and zero related deaths, the virus is under control on the island nation of Grenada. The country remains strict with testing for visitors, as all arrivals are required to provide a negative PCR test within seven days. The government has also developed a contact tracing app with self-assessment capabilities to manage the spread of the virus. Having the situation under control means tourism is re-opening and has room to grow safely.

ISLAND APPEAL FOR TOURISTS Located

in the Eastern Caribbean sea, outside of the hurricane belt, Grenada consists of the island of Grenada itself, and two smaller islands, Carriacou and Petite Martinique. This English-speaking nation with some of the friendliest people in the Caribbean offers something for every type of traveller, from the laidback lounger to the active adventurer. Activities on the island range from a relaxed sail on a chartered yacht to sightseeing safaris to a day spent teeing off on the greens at the Grenada Golf and Country Club. Ocean-lovers can enjoy world-class diving, sport fishing, sailing, and Seafari boat tours, while those who prefer to keep their feet on dry land can catch some sun on one of the stunning beaches, hike the lush rainforest or visit the River Antoine Rum Distillery, the oldest functioning waterpropelled distillery in the Caribbean. With four major chocolate companies on the island, Grenada is also known as the Caribbean Capital of chocolate.

ONLY INVEST WITH THE MARKET LEADERS

Range Developments is the undisputed market leading investment and hospitality company, operating across the Eastern Caribbean. Projects by the resort developer have attracted over 1,600 investors and helped more than 4,000 individuals gain second citizenship so far. Range Developments is the only company that has a track record of delivery in the Citizenship by Investment sector with multiple completed projects. Range Developments opened the Park Hyatt St Kitts in 2017 and Kempinksi Dominica in 2019 – both to reviews of best new hotels in the Caribbean.

 

Mohammed Asaria.

About the Author

Mohammed Asaria is Managing Director and Board Member of Range Developments, an international luxury hospitality development company that develops luxury resorts in the Eastern Caribbean under Citizenship-by-Investment programs. Mr. Asaria has a dual background in law and investment banking.

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