New InterContinental hotel in Grenada: how to buy a share and get citizenship
Grenada is offering a new citizenship investment property, the InterContinental Grenada Resort. Construction has begun in the summer of 2022.
Learn what is known about the new project and why investors prefer to buy properties in Grenada.
Legal and Compliance Officer, certified CAMS specialist
New InterContinental hotel in Grenada: how to buy a share and get citizenship
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Grenada has a citizenship program for investors. Program participants make a non‑refundable contribution to a government fund or purchase government‑approved real estate to obtain a passport.
The list of properties is periodically updated and published on the program’s official website. real estate projects are popular with investors. For example, in the Six Senses La Sagesse hotel, investors have already bought out all the shares.
In the summer of 2022, Grenada announced the construction of a new project, the InterContinental Grenada Resort.
The government has approved the project, and it is eligible for participation in the program. The opening of the hotel is scheduled for 2025.
An investor can already buy a $220,000 share. When the construction is completed, investors will begin to receive income of 2 to 5% per annum.
2—5% per annum
An additional income for the investor if they buy a share in the hotel
After 5 years of ownership, the investor will be able to sell the share to another program participant.
Investors over 18, with no criminal record, legal income and good health, can participate in the Grenada Citizenship Program.
What is known about the InterContinental Grenada resort
The hotel complex will be located in the southeast of the island of Grenada, in the district of St David. La Sages beach and bay are 50 meters from the complex. This is the epitome of resort in Grenada: the alternation of white, gray and black sand on the beach, tropical palm trees around and a calm warm ocean.
The road from the complex to Maurice Bishop International Airport and the capital of Grenada, St George’s, will take about 30 minutes by car.
The InterContinental Grenada Resort will have 150 rooms, 30 of which are suites. Restaurants, bars, spa and fitness centers, as well as a swimming pool with an adjacent grill area will be built on the territory of the complex.
The hotel rooms will offer views of the Atlantic Ocean and mountains. Almost 560 m² of the complex will be used for conference halls and business centers. A shady garden will be planted nearby, in which they plan to break small reservoirs.
This is what the hotel complex will look like after construction is completed. The architecture is being developed by Simeon Halstead + Associates.
What will an investor get by buying a share in a new project
Second citizenship for the whole family. Together with the investor, his relatives can participate in the program:
a spouse;
children under 30;
parents;
siblings over 18.
Freedom of movement around the world. The Grenada passport provides visa-free access to 144 countries, including the Schengen states, the UK and China.
Tourist visa to the USA. Investors and their family will be able to apply for a B‑1/B‑2 visa. Citizens of Grenada receive it for 10 years at any US mission.
American business visa E‑2. With it, the investor and his family members will be able to live and work in the United States. To get it, you need to create a new company or invest in an existing company in the United States. The minimum investment is not prescribed by law, in practice it is enough to invest from $100,000. The US issues an E‑2 visa within 2‑5 months.
Possibility to register a company. Investors often register with a Grenada company. Business in Grenada helps to settle with foreign participants without strict currency control, as well as reduce the tax burden.
Citizens of Grenada do not pay taxes on capital gains, global income and dividends from other countries. Income tax is payable only on income that is derived from a source in that country: 10% for the first 24,000 EC$ and 28% for income above this amount.
Corporate income tax is 28%, VAT rate on most goods and services is 15%.
Immigrant Invest is a licensed agent of the Citizenship program. If you want to buy property on the island and become a citizen of Grenada, please consult investment program experts.
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