The last weekend of February 2023 was marked by the groundbreaking procedure for the Grenada National Resort, authorized under the citizenship by investment program of Grenada. Among the honorary participants of the event were Mr. Yuanfa Li, chairman of Heng Sheng Grenada development ltd., Prime minister of Grenada, Mr. Dickon Mitchell and Mr. Nuri Katz, Owner and founder of Apex Capital Partners.
Work in progress. Located on the northern part of Grenada Island, Levera, next to the grounds of the Levera National Park. The project will cover an area of nearly 167 hectares (412 acres). Grenada National Resort was approved as a project for the citizenship program in August 2019. Due to pandemic start of the construction was on hold for two years, but in the beginning of 2023 developer has marked the serious part of the construction works.
Grenada National Resort will be the largest hotel in Grenada with 500 rooms overlooking the sea, including presidential, executive rooms and business suites.
Five-star project will have a big infrastructure, including an 18-hole golf course, authored by Robert Trent Jones II, casino and marina with berths for yachts, restaurants, a 24/7 gym, an outdoor pool, a large parking lot for cars and two places for landing helicopters.
For now, Grenada National Resort is the largest foreign investment project ($2 billion) in the Caribbean region operated by developer, Heng Sheng Group (HSG). More than $70 million has been invested in the acquisition of the property. HSG is a multinational integrated company, combining investment, development and commodity businesses with 20+ experience. HSG provides high-quality and diversified one-stop services such as tourism, conferences and exhibitions, investments and citizenship by investment program for global elites.
In total, there are three projects under construction in Grenada under the investment citizenship program. Very soon, in November 2023, just at the beginning of the high tourist Caribbean season, a 5* hotel, Six Senses La Sagesse, should open. All shares in it have long been sold, but the same developer has a second project on the island under the program — InterContinental Grenada, which began construction in the 4th quarter of 2022. The building plots of these two projects are located next door.
Benefits of Grenada Citizenship
Citizens of Grenada can visit 144 countries in a visa-free regime, including the Schengen zone, Great Britain (180 days a year, it is possible continuously), China (30 days without a visa), Russia. The main applicant (investor) in the application for Grenada citizenship can be joined by a spouse, children (under 30 years old — without educational requirements), parents, as well as siblings of the applicant (unmarried and without children).
Please note that citizens of Grenada, thanks to a special agreement between Grenada and the United States, can apply for a type E2 visa. However, this is a different investment story where you will need to invest in a business in the United States, according to the requirements established under the program.
