Located on one of the world’s best beaches, five-star luxury resort Kimpton Kawana Bay on the Caribbean island of Grenada offers citizenship investors the chance to not only secure Grenada’s powerful passport, but also hassle-free ownership of a title deeded studio or suite with the potential for a very attractive return on investment.
A 5-star luxury resort in Grenada, located at the southern end of the Caribbean chain of Islands known as the Windward Islands, the resort of Kimpton Kawana Bay is ideally positioned on Grand Anse Beach, voted by Condé Nast Traveller as one of the world’s best beaches, that is a sheltered and tranquil beach of sugary white sand and warm Caribbean waters.
Operated by an internationally recognised hotel brand – Kimpton Hotels & Restaurants, part of IHG (InterContinental Hotels Group), one of the largest hotel groups in the world, Kimpton Kawana Bay, which is currently under construction and due to open in 2022, is the leading government-approved CBI project in Grenada.
Via Grenada’s CBI Programme, Kimpton Kawana Bay is offering investors hassle-free ownership with no annual out of pocket fees. There is good potential for rental income through the operator’s transparent hotel rental management programme and personal accommodation usage of up to two weeks each year.
In addition to being situated on one of the world’s best beaches, the hotel will feature an infinity edge pool overlooking Grand Anse Beach, state-of-the-art gym and spa facilities, exquisite fine dining restaurant, rooftop bar, beach bar, lounge with terrace, and water sports facilities.
Title deeded studios and suites are for sale from only US$220,000 through Grenada’s leading and acclaimed Citizenship by Investment programme, one of the world’s top-ranked CBI Programmes, which offers investors and their families global access opportunities that other CBI programmes worldwide cannot rival, including visa-free access to China and fast and hassle-free relocation to the US via the much-coveted E-2 visa.
And the studios and suites have been selling fast with Kimpton Kawana Bay accounting for 54% of all section 11 real estate Citizenship by Investment applications in 2019 and 57% of all CBI applications in Q1 and Q2 of 2020.
Interest in and sales of units at the resort during the pandemic has continued at record high levels and to date 512 individuals, hailing from more than 30 countries including China, Vietnam, India, South Africa and Nigeria, have been approved for citizenship via investment in Kimpton Kawana Bay, with 312 sales currently in progress or complete and the project now 75% sold out.
With more than 70% of units sold or reserved, the resort is at an advanced stage of construction, with the fourth and final building already underway and expected to complete this year. As part of this final phase, there are 12 remaining suites and studios for sale via the Citizenship by Investment programme.
“These 12 additional suites and studios are the last units for sale in the final phase. The Kiawah building will have spectacular panoramic views of the Caribbean sea, as well as the rainforest mountain range from its prime elevated position,” said Warren Newfield, principal and developer of Kimpton Kawana Bay.
Following consideration of the likely long-term impact on leisure travel, brought about by the pandemic, a decision was to take to add these additional units, thereby re-configuring the resort to 163 keys from the planned 220 planned.
This new design, with fewer rooms, reduces guest density in public areas and will emphasise the boutique style of the resort, as well as provide for a more exclusive and personalised service. And with fewer hotel keys, the resort is expected to achieve a higher occupancy and room rate, those all-important drivers for operating success and for take-up by investors in such property.
On a recent visit to the construction site of Kimpton Kawana Bay, Grenadian Prime Minister, Dr. the Right Honourable Keith Mitchell commended the project developers and investors for creating the idea and executing it, welcoming the modifications made along the way to make it an even bigger project than was initially envisioned. “We expect Grenada’s tourism product to be revived in the not too distant future and developments like these help to expand and improve our offering,” he stated.
Grenada’s Citizenship by Investment programme
Launched in 2013, Grenada’s CBI Programme, which has been ranked as among the best three CBI Programmes worldwide in the last few years, according to the CBI Index, is also competitive in price, processing time and procedures, with a minimum investment outlay of US$150,000, a processing time of just two months, and no residency or travel requirements.
The programme also comes out top of the CBI pops in terms of due diligence, with the government continuing a strict position on dealing with any illegalities uncovered during the CBI programme process.
CBI investors to Grenada have two investment options. They can make a donation of US$150,000 to the National Transformation Fund (NTF) or an investment of US$220,000 in government-approved real estate. Investors can include dependents in the CBI application including spouse, children, single siblings (without children and above the age of 18) and parents, no matter their age.
Citizenship of Grenada has many benefits, including giving investors visa-free access to 143 countries, and is the only Caribbean CBI country to offer visa-free access to China and one of only three CBI countries worldwide allowing citizens the ability to work, study and live in the US under the E-2 Investor Visa Treaty.
Also considered to be one of the most family-friendly CBI programmes, it allows for the inclusion of spouses, children, parents, grandparents and siblings and is one of only two countries to allow the inclusion of children over 18 years, with few restrictions.
Grenada CBI Benefits
- Citizenships are processed fast – approximately 60-90 days
- Government citizenship fees for families are low – for a family of four, the main Government fee is just US$50,000 plus minor government due diligence and processing fees
- No interview, education, language test or management experience is required
- No residency requirements and dual citizenship is permitted
- Grenadian citizenship offers visa free travel to more than 140 countries including China, Russia, the Schengen States, UK and Singapore
- Grenada has source-based taxation: tax residents are not subject to Grenadian tax on their worldwide income, wealth, gift, inheritance or capital gains
- Unmarried dependent siblings of the Principal Applicant and his/her spouse can be included, as well as unmarried children under the age of 30 and dependent parents & grandparents under the age of 55
- Ability to sell after 5 years and secondary purchasers of Real Estate can qualify for CBI
- New citizens who take up residence, after one year can benefit from up to 90% discount for undergrad courses at St. George’s University
- Grenada is an E-2 visa treaty country with the USA, meaning approved applicants can live in the US with their families
To find out more about Kimpton Kawana Bay, click here
To find out more about the Grenada Citizenship by Investment programme, click here