It became known that the Silversands resort will expand with the support of the Citizenship of Grenada by Investment program. So, since 2018, the Silversands Origin resort (Grand Anse beach) has been operating in Grenada under the management of Leading Hotels of the World (WLH). The hotel became famous for its non-standard design and infrastructure, including the unique 100-meter pool, the largest in the Caribbean.
The founder of the Silversands project, Nagib Saviris, believes that his concept is a cure for monotonous faceless luxury, against which the life of traveling wealthy people passes. Therefore, the design of the resort and its layout is significantly different from such projects. Interesting that the developer of the resort has many plans for further work on the island, including squares in the Port Louis marina area, and is well aware of the specifics of real estate construction in the Caribbean.
Now, next to the current Silversands Origin resort, on Mount Sinnemon Beach, another five-star hotel with 120 rooms is being built — Silversands Legacy. This project is approved for the Citizenship of Grenada by Investment program, and the developer undertakes to buy back the investor’s shares in 5 years. As a bonus investors will also be a free stay at the existing Silversands Origin hotel for 7 days each year of ownership of Silversands Legacy shares.
The share in the Silversands Legacy Hotel is $220 000 USD.
At the same time as the construction of the hotel, villas will be built, also approved for the Grenada citizenship program. You can buy the villa only in its entirety. Upon completion of construction, the management company will manage the rental of real estate.
Villa Silversands in ownership — from $7 million USD.
Grenada citizenship by investment: how it works
Back in 2019, the investment rate for the Grenada Citizenship for the Purchase of Real Estate program was reduced from $350 000 to $220 000. At the same time, another amendment was also made to the law on the program. It is it that allows, after the deadline, to sell a stake in projects approved by the authorities to other investors who want to obtain Grenada citizenship for the purchase of real estate.
So, in order to apply for citizenship, you need to invest in one of the projects approved by the state. This is usually the share in the hotel under construction. And after 5 years, this share can be sold, but the developer is not responsible for the redemption of the share. Apex Capital Partners continuously monitors the best real estate offers for citizenship programs and their construction status, thanks to its extensive presence in the Caribbean.
Recall that it is not necessary to buy real estate at all to participate in the program. The second option is a free contribution to the state fund in the amount of $150 000 (USD) per applicant and $200 000 (USD) per 2-4 person plus an additional $25 000 (USD) for each over 4. To this investment, as in the case of real estate, state duties and the cost of legal registration services will be added.
Grenada passport: how it differs from another Caribbean
We can say that the Grenada passport is an alternative to a visa to Europe. Thanks to the international agreement, Grenadians can come to EU countries without a visa and stay there for 90 days every half year. And also, with a Grenada citizen’s passport, you can visit the UK without a visa and stay there continuously 180 days a year. This privilege is available to citizens of the member countries of the Commonwealth of Nations – the former colonies of Great Britain.
For many, Grenada citizenship will be the key to the program for obtaining a business non-immigrant visa E-2 in the United States. Because only citizens of countries that have signed a corresponding trade agreement with the United States can file for it. And, being a citizen of the Caribbean country, it is very easy to get a tourist visa to the United States, and they will give it for 10 years. And finally, Grenada is the only country in its location whose citizens can visit China (PRC) without a visa.
Where to get a Grenadian passport?
There are Embassies of Grenada all over the world, nevertheless, the registration of Grenada citizenship is carried out only through a licensed program agent. Thus, APEX can obtain a full cost estimate and apply for Grenada citizenship. And of course, get a Grenada passport. And also, after the expiration of the document, re-issue the passport.
Please note that you do not need to visit the island to obtain Grenada citizenship for investments. All documents for participation in the Grenada Citizenship Program are issued remotely.