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Grenada’s Mount Cinnamon offers citizenship by investment

Situated in the West Indies, Grenada - which is known as the ‘Spice Isle’ - is a lush, unspoilt and exotic island that boasts dramatic scenery, tropical rain forests, mountains, waterfalls and stretches of golden beach.


 
This idyllic tropical island setting has been opened up to savvy investors through the Grenadian Government’s Citizenship by Investment programme. “Those looking for an international investment opportunity as well as a tropical island hideaway need look no further than Mount Cinnamon, a luxury resort development situated just 10 minutes from St Georges, the historical capital of Grenada,” says James Bowling, CEO of Monarch&Co International - a company that specialises in investor programmes for residence and citizenship in a number of territories around the world.
 
He says that Grenada’s Citizenship by Investment programme provides investors a gateway to ownership in one of the most magnificent Caribbean resorts. “The resort development at Mount Cinnamon is supported by the government and benefits from very favourable fiscal and practical concessions to ensure continued success as a tax-free investment.”
 
Situated on a lush hillside and boasting a 3km stretch of sandy white beach called Grand Anse Beach – recognised as one of the most beautiful beaches in the world - the Mount Cinnamon resort provides an authentic Caribbean experience in a safe, secure and happy country with virtually no crime.
 
“Consisting of 22 privately owned villas in one-, two- and three-bedroom configurations, as well as a range of apartments, Mount Cinnamon is expanding to include 250 new residences and additional hotel resort facilities through the Citizenship by Investment Programme,” says Bowling.
 
Existing facilities include a clubhouse with a full service restaurant and bar, a swimming pool and sunbathing areas, fully-equipped spa treatment rooms, private water sports and scuba diving, full concierge services as well as a business centre along with management, accounting, operations and maintenance services.
 
Aside from amazing views of tropical gardens or the white beach, there are a range of on-site or nearby activities that guests can enjoy from scuba diving and water sports to hiking in rainforests or enjoying an indulgent pamper session at the spa.
 
Bowling explains that through a shareholding investment in the operation and management of Mount Cinnamon, investors will be entitled to apply for Grenadian citizenship. The benefits of Grenadian citizenship include a safe and beautiful location in which to live, freedom to travel without the need of a visa as Grenada is a member of the United Nations and the Commonwealth of Nations, as well as preferred access and in some cases grants to many top schools and universities on the island.
 
“There are also business advantages for investors in Mount Cinnamon including the fact that under the Mount Cinnamon Citizenship by Investment programme, investors are not liable for any income tax, capital gains tax or inheritance tax, and will also have the option to explore other opportunities to invest in the island on favourable terms,” says Bowling. “Added to this, Grenada has a very secure banking system and offers a safe place to deposit funds with attractive interest rates. Through investment in the citizenship programme, there is no exchange control or other restrictions on the inward or outward transfer of US Dollars.”
 
Bowling points out that investment in Mount Cinnamon also has its benefits from a property perspective, which include the fact that it is an established, operating hotel with full resort facilities which has been developed by a highly experienced developer. “Investors will have a shareholding ownership in an income-producing hotel business which is marketed and managed by an internationally experienced hotel operating company. Furthermore, investors stand to benefit from excellent capital growth and rental yields as Grenada has not yet experienced the explosion in tourism as other Caribbean islands. This also means that property prices in Grenada currently offer investors excellent value for money when compared to other well-known destinations in the region such as Barbados, St Lucia and Antigua.”
The minimum investment required is USD1-million which will buy a one-bedroom apartment at Mount Cinnamon as well as the ability to apply for two main citizenships to be used for the investor and their spouse or bona fide business partner, and their respective families.
 
Alternatively, an investor can purchase a shareholding in the operation and management company of the resort for USD500 000 and apply for citizenship for themselves and their family. Processing time for citizenship and passport issue from time of application is around two months making it the quickest citizenship programme presently available.
 
Larger investment options are also available, with USD1,5-million buying a two-bedroom apartment at Mount Cinnamon with the investor entitled to apply for three citizenships, while those who invest USD2-million will be entitled to a three-bedroom apartment and can apply for four citizenships.
 
Investments of more than USD2-million can be made for larger, bespoke villas or other commercial investments and will entitle the applicant(s) to apply for citizenship. All of the options allow for spouses and children under the age of 25 years to apply for citizenship.
 
“There are many advantages to investing in the Grenadian Citizenship by Investment programme,” says Bowling. “Grenada is a safe and friendly country that boasts a world-class international airport; it has amazing scenery and a range of activities available, as well as great schooling option and tax benefits. Added to this, citizens will have access to more than 115 countries without the need for a visa, and will have citizenship in a country that is a member of the Commonwealth of Nations. All this adds up to create a very attractive investment opportunity.”


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