Grenada strikes a chord with South Africans investing offshore and seeking citizenship
Citizenship 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.
So says Chris Immelman, who heads up Pam Golding International: “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 resident 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.
“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.
Adds Immelman: “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.”
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.