> Citizenship by Investment > Grenada Citizenship by Investment > Grenada Citizenship by Real Estate Investment 

Real Estate in Grenada

Citizenship by Investment

Real Estate in Grenada

Investing in real estate in Grenada offers not just a great financial opportunity, but also the potential to own a second home and enjoy retirement on one of the pristine Caribbean islands. Additionally, Grenada presents an opportunity to obtain a second passport through its citizenship by investment program. Known as the ‘Spice Island,’ Grenada is a hidden Caribbean treasure, boasting stunning white sandy beaches, cascading waterfalls, and a diverse and thriving ecosystem.

Why make a real estate investment in Grenada?

  • Second Passport Opportunity
  • Natural Beauty Abounds
  • Economic Stability
  • Low Property Taxation
  • Tourism Income Potential
  • Diverse Real Estate Choices
  • Year-Round Sunshine
  • Streamlined Property Transactions
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Processing Time

4-6 months

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Contribution

$ 150,000 USD

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Visa-Free Travel Within

115+ countries

Grenada Investment Options

The objective of the Grenada Citizenship by Investment Program is to attract foreign individuals who can acquire citizenship and a passport between 4-6 months by making an investment in either the National Transformation Fund (NTF) or another government-approved project.

$150,000 USD

Non-refundable Payment to Grenada NTF fund

The Grenada citizenship program applicant must invest a total of $150,000 into the NTF. For a family of 4, there is an additional fee of $25,000 for each additional dependent.

$220,000 USD

Real Estate Investment

A minimum investment of $220,000 USD (for each share in a unit) by two or more individuals is required in a GCBI approved project valued at a total minimum of $440,000 USD. This new price is only applicable in cases where applicants co-invest in a unit.

Secondary purchasers of real estate units in approved projects are also eligible to obtain citizenship.

Real Estate Market Information in Grenada

Since the inception of the Grenada Citizenship by Investment Program in 2013, the Grenadian real estate market has flourished. This has created an enticing opportunity for a diverse range of individuals, including those seeking second citizenship, affluent investors, celebrities, vacationing families, and retirees looking for their ideal retirement property. Grenada’s real estate listings showcase a wide variety of options, from luxurious villas to historic plantation homes, and even the possibility to purchase land for custom construction. Key areas for property investment in Grenada include St. George’s, Carriacou, Grand Anse, and Lance aux Epines.

Real Estate Investment Criteria in Grenada

  • Property Location: Choose the right location based on your goals.
  • Property Type: Decide on the type of property that suits your investment strategy.
  • Legal and Regulatory Framework: Understand local laws and regulations.
  • Investment Budget: Determine your budget and financing options.
  • Economic Stability: Assess the country’s economic stability.
  • Infrastructure and Accessibility: Consider property accessibility.
  • Tourism and Demand: Research tourism trends and potential demand.
  • Environmental Factors: Be aware of environmental regulations.
  • Citizenship Programs: Explore CBI programs.
  • Local Real Estate Market: Study local market trends.
  • Due Diligence: Perform thorough property inspections and checks.
  • Legal Assistance: Work with local experts and attorneys.

Key Facts

Capital

St. George’s

Languages

English, Creole French

Currency

East Caribbean dollar (XCD)

Population

126,183 (2023)

Real Estate Investment Options in Grenada

  • Residential Properties: Purchase homes or condos for personal use or rental income.
  • Vacation Rentals: Invest in properties for vacation rentals due to Grenada’s growing tourism industry.
  • Commercial Properties: Consider office spaces, retail shops, or restaurants in high-traffic areas.
  • Land Investment: Buy land for future development or resale.
  • Resort Investments: Participate in resort development projects for potential high returns.
  • Citizenship by Investment: Obtain Grenadian citizenship through real estate investment.
  • REITs: Explore real estate investment trusts if available in the local market.
  • Real Estate Development: Develop properties for sale or rent.

Holding Period of Real Estate

In the Grenada citizenship program, if you buy real estate, you usually have to wait for five years before selling it. This rule is in place to make sure the program is fair and benefits the country in the long run

Minimum Investment Requirement

Citizenship by Investment (CBI) applicants require at least $220,000 as investment capital to buy property in Granada for use as citizenship by investment (CBI) applications. Investment can take the form of either purchasing a private residence, a property unit, or a unit in an approved development.

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    Type of Ownership

    These are the primary types of property ownership structures in Grenada, and each comes with its own set of rights, responsibilities, and legal considerations:

    1. Fee Simple (Freehold): Complete ownership with full rights to use, sell, lease, or bequeath the property.
    2. Leasehold: Ownership for a specified period through a lease agreement.
    3. Condominium Ownership: Individual ownership of units within ashared complex.
    4. Strata Title Ownership: Similar to condominium ownership, with shared common areas and facilities.
    5. Joint Tenancy: Co-ownership with equal rights and automatic transfer to surviving owners upon a co-owner’s death.
    6. Tenancy in Common: Co-ownership with separateshares, and ownership transfer based on the individual’s will or estate planning.

    Step-by-Step Guide to Buying Real Estate in Grenada

    Here is a summary of the process and requirements for non-nationals buying real estate in Grenada:

    •  Property Search and Offer: Find the right property and make an offer through your real estate agent.
    • Sales Agreement: Once your offer is accepted, the seller’s lawyer will draft a sales agreement with the terms and conditions.
    • Deposit Payment: Pay a deposit, usually ten percent, which is held in escrow.
    • Legal Paperwork: Your attorney will handle due diligence and finalize the necessary legal paperwork.
    • Final Payment: Complete the payment for the property.
    • Tax and Fee Payments: Ensure all required taxes and fees, including stamp duty and registration fees, are paid.

    Property Purchase Taxes

    The purchaser of the real estate is responsible for a 15% transfer tax. Non-nationals need to obtain a Land Holding License, which amounts to 10% of the land plot’s price. However, individuals participating in the citizenship program are not obligated to pay these taxes or acquire a license.

    Additionally, buyers are also required to cover legal expenses, which can vary from 1% to 2% of the total transaction amount.

    Program Summary

    Learn more about the country and it's citizenship by investment.

      Similar Citizenship by Investment Programs

      Benefits of Citizenship by Real Estate Investment

      • The thriving real estate market offers affordably priced properties for purchase.
      • A secure nation with a welcoming and hospitable population.
      • There is a diverse selection of real estate options to choose from.
      • Invest in pre-vetted real estate to obtain Grenadian citizenship.
      • Opportunities exist in electric vehicles and taxi services.
      • Captivating Caribbean islands with stunning natural beauty.
      • Excellent connectivity to global destinations.
      • Enjoy tax benefits and exemptions.

      Financial and Payment Options

      When purchasing real estate in Grenada, buyers have financing options like mortgages and developer financing, with local bank transfers and escrow services being common payment methods. It’s essential to consider taxes, fees, and currency exchange rates, with potential benefits for those participating in Grenada’s Citizenship by Investment program. Consulting local experts and understanding the financial landscape is key to a successful property purchase in Grenada.

      Comparing Citizenship by Investment Countries

      Legal and Regulatory Considerations

      When buying real estate in Grenada, it’s vital to adhere to legal and regulatory requirements, including Land Holding Licenses for non-nationals, thorough due diligence, and understanding tax obligations. Engaging a local attorney and using escrow services is advisable for a secure transaction. Prospective buyers should also consider currency exchange rates and explore the benefits of Grenada’s Citizenship by Investment program.

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      Risks and Considerations

      Investing in Grenada’s real estate market offers attractive opportunities but comes with several considerations and risks. These include market volatility, ongoing property maintenance, economic factors, potential resale challenges, legal and regulatory changes, currency exchange risk, property management needs, susceptibility to natural disasters, eligibility for citizenship programs, local market knowledge, environmental concerns, and tax implications. It is crucial for investors to conduct thorough research, seek professional guidance, and have a comprehensive understanding of these factors to make informed and successful investment decisions in Grenada’s real estate market.

      Exit Strategy

      An exit strategy is a vital component of a real estate investment plan in Grenada. It involves planning how to exit or divest from a property investment, considering factors like market conditions, financial objectives, and property performance. Common exit options include selling the property, renting it out, or using it personally. A well-defined exit strategy helps investors optimize returns and manage potential losses effectively.

      How can MigrateWorld help you get citizenship by real estate investment?

      Migrate World is your dedicated partner in the pursuit of Grenada citizenship through real estate investment. Our experienced team expertly navigates the intricate application process, offering support from initial consulting and property selection to application processing and due diligence management. We handle all aspects of your Dominican citizenship by investment journey, ensuring your investment goals become a reality. With personalized guidance, we take pride in assisting you on the path to becoming a citizen of Dominica

      List of Countries Offering Citizenship by Real Estate Investment

      Several countries worldwide offer citizenship by investment (CBI) programs that include real estate investments as a pathway to citizenship. These programs vary in terms of investment requirements, benefits, and eligibility criteria.

      Frequently Asked Questions

      Grenada permits citizens, residents, and individuals from other countries to acquire property within its borders. Nevertheless, foreign nationals are required to acquire a specific license in order to possess land, which amounts to 10% of the land plot's price. However, individuals participating in the Grenada Citizenship Program are exempt from the requirement to obtain a Land Holding License

      Yes, if an investor purchases a house in Grenada without seeking citizenship, they have the flexibility to resell it at any time.

      However, if real estate is acquired through the citizenship program, it cannot be sold before five years after obtaining a Grenada passport. Violating this condition will result in the loss of Grenada citizenship.

      The timeframe to obtain Grenada citizenship by investment  can vary, but typically ranges from approximately 4-6 months from the submission of the application.

      Yes, non-residents can buy land in Grenada, but they must obtain a special license to do so. This license, known as the Alien Landholding License, comes at a cost of 10% of the sale price. However, foreigners are exempt from this requirement if they choose to participate in the Grenada citizenship by investment program.

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