Real Estate Investor Magazine South Africa November 2019 | Page 56

GRENADA
Citizenship programme
on a Caribbean Island
Grenada strikes a chord with SA investors
seeking citizenship
C
itizenship by investment in under nine months and visa-
free travel to 143 countries, including the EU Schengen
area, UK, China, Singapore and Hong Kong, is seeing
Grenada in the Caribbean receiving increasing attention from
South Africans. Including those seeking an ideal holiday home
with sound investment potential plus rental income from a
growing tourism base.
Chris Immelman, Pam Golding International, says “With no
need to even visit Grenada during the application process,
minimal processing fees and no physical residency required,
investors and those looking to acquire second citizenship are
finding this a very appealing option.
Grenada’s CBI programme only requires a minimum
investment of US$220 000, with no interview, management
experience or qualifications necessary, plus you don’t even
have to live there to have citizenship.”
Immelman says coupled with this, Grenada has a source-
based taxation system, so citizens who are tax residents there
are not subject to Grenadian tax on their foreign income, nor
do they pay any wealth, gift, inheritance or capital gains tax.
“Not to mention the fact that with a year-round tropical climate,
pristine beaches and lush landscape, Grenada is an idyllic getaway
destination. At Kimpton Kawana Bay, just a 12-minute drive from
the island’s international airport, sales have been brisk, with almost
200 transactions already concluded in the first three phases of this
5-Star branded resort development, situated on a prime elevated
site overlooking world-renowned Grand Anse Beach.
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NOVEMBER/DECEMBER 2019 SA Real Estate Investor Magazine
“The freehold condominiums are priced from US$220 000,
comprising one-bedroom units and studios, including two
weeks free usage per year. In addition, your property is put
into the hotel rental pool for the remainder, earning an annual
return on your behalf via Kimpton Hotels Intercontinental
Group. Investors can also disinvest after five years.”
Each unit will include air conditioning, surround
sound audio system, satellite TV, mini bar, gourmet
coffee machine, while the resort includes an infinity pool
overlooking the beach, fine dining restaurant, lounge and
beach bar, gym and spa with five treatment rooms and
water sports facilities.
“Kawana Bay, which takes its name from the leatherback
turtles that frequent the waters around Grenada and which
nest on Grand Anse Beach, is the only project that we market
in the Caribbean, as it meets our stringent selection criteria. It
is also only CBI project in Grenada authorized to sell deeded
real estate at this price,” adds Immelman.
Grenada enjoys a growing economy and stable democracy.
Its citizens have access to top schools including Grenada’s
private international university, St Georges, where you can
study medicine, nursing, veterinary, arts and sciences and
business, is the world’s largest American accredited medical
school, outside of the United States. If this sort of lifestyle
appeals to you and you’re looking to invest in a permanent
holiday-style home, then look towards Grenada for an unlikely
but super-beneficial option abroad.
SOURCE Pam Golding International