How To Obtain Citizenship Of Another Country Through The Purchase Of Real Estate?
/Second citizenship is one of the most talked-about topics during the pandemic. It has various advantages: economic opportunities, mobility, personal safety, quality of life, etc.
Usually, obtaining citizenship is a long process that takes more than one year. But for those who are not ready to wait - there is a special program "Citizenship by Investment". This option is often approached by private investors or business owners.
As part of the citizenship by investment program, a foreign investor has the opportunity to invest in real estate or a fund. Real estate investment in government-approved projects in some Caribbean countries has recently become a very popular choice among high net worth (HNW) individuals and their families.
What are the benefits of second citizenship?
Visa-free travel
Zero tax: no taxes on income, property, or inheritance (e.g. Grenada)
Opportunity to apply for USA E2 Investor Visa (Grenada)
Fast application processing
Ability to add family members to the application
If you are considering buying real estate, then take a look at the projects that are being built in Grenada by Kimpton Kawana Bay.
“In recent years, Grenada has experienced an upward trend of strong growth in real estate sales. According to the 2019 report from one of the leading realtors on the island – Grenada recorded the highest number of real estate sales transactions in 10 years. Total sales amounted to USD63,703,562, an increase of 26% over 2017, and the total number of recorded real estate sales in 2018 was 758, a 23% increase compared to 2017.71% of the sales volume occurred in St. George followed by St. Andrew and St. David with 10% each. According to the Real Estate Market Report – 2019, some of the key drivers that contributed to this significant increase are sales of prime commercial property, the continued strength of the economy in the diaspora, and the strength of Grenada’s economy. An increase in lending by local banks also helped.” – writes Kimpton Kawana Bay.
What investments are required to obtain citizenship of Grenada?
To qualify, the applicant must invest in approved real estate with a minimum value of US$220,000*.
The process of obtaining Grenada Citizenship by Investment usually takes 90 days. The applicant must enter into a sales and purchase agreement with an approved real estate project and transfer full investment and associated fees to an Escrow account controlled by an on island attorney. Once it is done, the authorized agent submits applications and required documents to the Government and receives the Approval and the Certificate of Naturalization. With these documents on hand, the authorized agent submits a request for passport.
* US$220K investment refers to shared ownership in real estate. For Sole ownership must be US$350K+
Why do investors choose Kimpton Kawana Bay?
Kimpton Kawana Bay Resort will be Grenada’s newest 5-Star hotel and will be run by the internationally renowned resort operator, Kimpton® Hotels & Restaurants. Kimpton is part of the Intercontinental Hotels Group® and one of the world’s leading boutique hotel operators. It will have a spectacular beachfront location and magnificent views over Grand Anse Beach and the Caribbean Sea. Accommodation will comprise luxury studio rooms and suites, which are now for sale through Grenada’s Citizenship by Investment programme. The resort will feature an infinity pool, a chef-run restaurant, a fitness centre, a spa, water sports facilities, a lounge bar, roof-top lounge and beach bar.
