Real Estate Investor Magazine South Africa May 2014 | Page 64

GRENADA

BY JAMES BOWLING

Spice up your portfolio
Get Grenadian citizenship by investing in property

G

renada is located in the southern section of
the Caribbean Sea approximately 200 miles
from the coast of Venezuela. Known as the
island of spice, Grenada is 344 square kilometres in
size and is a Commonwealth country.
Investors looking for international opportunities now
have an amazing prospect to benefit from Grenadian
citizenship right at the beginning of the tourism
expansion on this island. Added to that, the citizenship
programme comes with travel, lifestyle, tax, financial
and education benefits for investors. While Grenadian
Citizenship by Investment has existed since the mid
1990’s when the country first started an economic
citizenship programme, legislation was recently
amended by the Grenadian Parliament to ref lect a
clearer focus on the programme in order to preserve the
prestige, honour and value of Grenadian citizenship

The Grenada Citizenship by Investment programme,
where investors buy into a resort development at
Mount Cinnamon, is supported by the government
and benefits from very favourable fiscal and practical
concessions to ensure continued success as a tax-free
investment. One of the most attractive benefits of this
programme lies in the fact that Grenada is a member
of the United Nations and the Commonwealth of
Nations, which means that its citizens are able to travel
to approximately 115 countries worldwide visa-free and
also enjoy preferred access – and in some cases grants –
to many top schools and universities.

GRENADA FACTOIDS
G overnment : Cons titutional monarchy,
Parliamentary system
Capital: St. George’s
President: No president but rather a minister:
The Right Honourable Keith Mitchell
Currency: East Carribean Dollar
Population: 109,590 (July 2013 est.)
Official language: English (official), French patois
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through a legal protocol. This clearer focus has resulted
in applications only being extended by invitation, with
each applicant, their family and business partners
subject to individual approval by the Grenadian
Government.

Aside from this, the application process is relatively
hassle-free and the processing of applications with the
inclusion of dependent children below 26 years of age
takes up to just three months.

May 2014 SA Real Estate Investor

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There are also no physical residency requirements
in Grenada, no requirement to travel to