A small guide on Grenada citizenship for real estate investment

The present article covers outstanding characteristics of Grenada Citizenship program, its exceptional advantages, eligibility criteria, investment options, and ways to obtain. Provided that you're speculating on obtaining a Grenada passport, read this article to understand the reasons why Grenada citizenship is a superb variant.

Why is Grenada Citizenship the best variant?

Grenada is the Caribbean country which is so popular with its spices and primordial natural surroundings. Its citizenship by investment program has been marked the best in the Caribbean region.
The sunny beaches, various outdoor activities all year round, not overdeveloped zones attract many wealthy people in selecting to invest into this state from all over the world.

Passport of this country opens you travel to more than 141 countries without visas. Moreover, you can easily add all your family members to the application. The passport is to be issued within a short period of time - 4 - 5 months without any obligation to visit Grenada in person. Grenada allows dual citizenship and possesses very favorable taxation conditions. Being Grenada citizen, you will benefit from tax exemptions, which include no capital gains tax, inheritance tax, income tax, or wealth tax on worldwide income.

What makes Grenada’s passport truly unique is the chance to apply for a US E-2 visa and free visit of China. Apart from that, in case you select the investment into real estate, you will be able to get your investment back in 5 years’ time.

Grenadian Citizenship by Investment (CBI) is an outstanding scheme to gain passport, which will open doors to the whole world. It was launched in 2013.

Eligibility criteria

Applicants should be over 18 years old. Applicants should not have any serious disease. They should be able to prove their income. They should possess clean legal record.

Due investments

Grenadian CBI provides real estate purchase as on option to get citizenship. Totally, there're two investment alternatives for a client to select. The first option is donating to the National Transformation Fund (NTF) in the amount of $150 000 per one person. This contribution is a non-refundable donation. It is created to cater to different sizes of families. Also, it is to strengthen nation's growth.
Another variant is classical - investing into real estate from $220 000. It is refundable, it can be sold in 5 years after acquiring citizenship.

Usually, investors prefer to choose the second variant in order to return their investments back.

A beneficial investment into your future

The property which you are planning to buy must be on the lists of approved projects by the Grenada government, which you can look up on the official website. This is due to the fact that government strives to protect investors from unfair developers.

The variants include apartments, villas, hotels and others. Buying property, you can use it as a residency to live in during vacations, or use it as usual place of living. There is also a great opportunity to rent your property when you are out. Renting in Grenada is quite popular as the country hosts tourists throughout the year, so that you will always have your client. Apartments with 1 or 2 bedrooms are of particularly high demand among renters.

Additional expenses

For those selecting buying real estate, costs include not only the object itself, but also some additional expenses such as contract registration, legal support, licenses for the right to own property. Legal support presupposes a lawyer who is due to verify the authenticity of documents and assist throughout the process. Those who buy property under the Grenada Citizenship Program don't have necessity to buy a Land Holding License.

Guide on property buying in Grenada

The buying process in Grenada is quite easy and normally contains the following steps:

• Searching for a property

One should find the property that corresponds to requirements and expectations. Grenada suggests a huge variety of variants.

• Making an offer

Once you have found your ideal property, you should make an offer to the seller.

• Sales agreement

Once your offer is accepted, the seller’s lawyer is going to prepare a sales agreement.

• Paying a deposit

You are to pay a 10% deposit, which will be held in escrow by the lawyer of the seller.

• Conducting paperwork

Your lawyer will manage relevant paperwork to finish the payment.

• Making final payment

You should fulfill the payment for the property with your lawyer's assistance.

Conclusion

Grenada possesses a rapidly growing real estate market with various property options. You will be able to get profit just from renting your property all year long, or by selling it after 5 years, when the real estate market will have increased in price, thus, profiting from this deal as well. Lastly, you will obtain the citizenship of Grenada, which demonstrates numerous opportunities. Research estate lists on the official website and take a consultation with One World Migration.