Hello, Imaginary Land.

Unless a purchaser is buying the property for investment purposes without citizenship, a purchaser may only take title to the property if the Government of Grenada has approved their citizenship application. If the purchaser’s application for citizenship is denied by the Government of Grenada, the purchaser will be entitled to terminate the Purchase and Sale Agreement and will have no obligation to pay the balance of the purchase price. The processing/reservation fee paid by the purchaser will not be refunded. In addition, all government and other fees already paid by the purchaser are non-refundable.

No, annual assessments (including property tax and insurance) will be paid out of the purchaser’s share in the rental management programme after the hotel opens; no assessments will be levied before such time. Thereafter, any shortfall is paid by the rental manager and recouped, plus interest, from subsequent rental programme revenue attributable to the purchaser. 

In addition to the purchase price for the property, other costs include the government CBI fees, professional fees and legal conveyancing costs. The total cost will vary depending on the number of dependents, and their ages, in any one CBI application. On an investment of USD 220,000 for a family of four (main applicant plus three dependents – spouse, one minor child and one dependent child over 17 years of age), the total will be just over USD 300,000. This does not include professional fees which are generally negotiable and can vary depending on the service provider.

Five years.

Yes, secondary purchasers of properties in the Kimpton Kawana Bay development will qualify to apply for citizenship under Grenada’s CBI programme, provided the first purchaser does not sell the property before five years from the grant of their citizenship. This benefit is only available to purchasers of “real estate”. Properties at Kimpton Kawana Bay are considered “real estate” and thus, are eligible. This means that if a purchaser holds their property for at least five years from the grant of citizenship, they can sell to a secondary purchaser who can also obtain Grenadian citizenship. Note that the five-year hold requirement and the resale provisions only apply to CBI applications submitted after May 23rd, 2019.

Kimpton Hotels & Restaurants is an internationally recognised hotel operator and upmarket boutique brand, which is part of the InterContinental Hotels Group. Kimpton began solely with hotels in the United States and has more recently expanded internationally with hotels in Amsterdam, London, Taipei and the Cayman Islands. Kimpton’s worldwide expansion is continuing with hotels under development in Hong Kong, Shanghai, Tokyo, Bangkok and Paris, to name a few

In Grenada, citizenship can be passed on from generation to generation. The main applicant upon acquiring citizenship can apply for citizenship for any minor child. In future, the main applicant’s child who has been granted citizenship can apply for their minor children (i.e. the main applicant’s grandchild to become a Grenadian citizen), and so on for generations to come.

As of July 2019, Grenadian citizens have visa-free or visa-on-arrival access to over 140 countries. Uniquely, Grenada has the benefit of visa-free travel to both China and Russia. The list is evolving as Grenada continues to forge new/strengthened diplomatic relations.