You are based regionally or elsewhere on the globe. Perhaps you’re part of the Caribbean diaspora. You’re always thinking about means by which you could contribute to the region in a significant way. You’ve heard about Caribbean Citizenship by Investment Programs (CIP); however, you have no further clue.
Or perhaps you are an Investment Migration professional who is seriously considering a Caribbean CIP venture for the benefits that such a vehicle could provide.You wish to know exactly how you can commence your Grenada Government Approved CIP real estate project to attract your ideal investor.
Why Grenada
In brief, Grenada presents an unmatched opportunity for the intuitive developer / investor who understands the real value of being ahead of the curve. With intimate bays, cays, and yachting communities littered around its virgin coastlines, and a stable investment friendly climate, Grenada is an authentic turnkey developer/investor friendly destination that is worthy of your consideration.
Caribbean CIPs such as St. Kitts and Nevis have already matured with eighty (80) plus Government Approved CIP real estate projects.
Grenada, on the other hand boasts just over seventeen (17) Government Approved CIP real estate projects; Dominica and St. Lucia are similarly poised. Suffice to note, however, that Grenada has the ‘strongest’ passport option of the above countries.
You are welcomed to invest in Grenada
Grenada boasts one of the most open economies in the world. You are thus entirely welcomed to invest in Grenada. The Caribbean Community (CARICOM) single market and economy envisions removal of barriers to trade, with free movement of regional services, goods and capital, and people. Grenada, a Member State of CARICOM, is very welcoming of regional interests to its shores. Likewise, legitimate investors beyond the region are free to invest in Grenada.
Government Incentives Await You
Attractive government incentives await the private developer / investor. The CIP investment framework, a lovely brute of a wealth creation vehicle, is but one such incentive. That framework is outlined under the Citizenship by Investment Act No. 15 of 2013 of the Laws of Grenada as revised. It essentially allows for investment to be made into your government-approved project, which becomes so approved after being reviewed and recommended by the CIP Committee to the government Minister in charge.
Other incentives that facilitate, support, and strengthen business investment are outlined in the Industrial Development Corporation Act, Act 2 of 1985 and related Laws of Grenada.
Needed – your innovative project idea … seriously
So here’s the deal … your viable development/investment idea on paper is truly the missing link. The good news is that, although welcomed, your proposed development / investment does not have to be just another hotel resort or other hospitality project.
Existing projects can also seek Government Approved designation.
Grenada’s current priority sectors include hydro, solar, and geothermal energy resources; agriculture; tourism and education.
Your project can therefore be a tourism attraction, an agriculture project, or other venture that you can show is commercially viable. A sustainable aquaculture project recently became ‘Grenada Government Approved’, for example.
Procedure
Once your business plan and relevant documentation is in order, you will then instruct your Grenada legal representative to lodge your CIP real estate project proposal with the diverse ten (10) member CIP Committee at the following address: Grenada Citizenship by Investment, Burns Point, Carenage, St George’s, Grenada, W.I. The related Government fee is a US$10,000.00 one time payment.
The CIP Committee will thereafter invite you to an in-person presentation during which it will make further related inquiries to obtain the necessary clarity about your proposed project. At that stage you and your team must be fully prepared to officially conduct your investment pitch.
Once your project is successfully Government Approved, you can then market the same under Grenada’s CIP framework to attract a minimum of $240,000 per investor towards phasing out your project.
All of the very best with your Grenada CIP project. Feel free to jot any related question that you might have in the comments section of this post.
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We are passionate about Caribbean socioeconomic development. That commercial real estate project which you are contemplating, can further stimulate a small economy in a big way. Your project might actually be a good fit for structuring under the Citizenship by Investment framework. CIP programs are available in Grenada, Dominica, St. Lucia, St. Kitts & Nevis, and Antigua & Barbuda – each with its unique advantages.
Jot an email to info@caricomattorneys.com or a copy of Johanan’s ebook intended for developers/ investors who are serious about pursuing a Caribbean based CIP project.
Let’s get this tool in your hand.
