Among projects approved by the Grenada Government for the citizenship-by-investment program (CBI), Grenada National Resort — developed by HSG International — is the largest in scale. This bulletin describes the project, the two investment structures, and key points for investors to review carefully before making a decision.
Project Location and Size
The development spans over 400 acres (approximately 160 hectares) in the Levera area on the northern coast of Grenada's main island — a region with coastline considered among the most beautiful in the country.
The master plan comprises four main components:
- 500-suite beachfront resort serving as the flagship component
- Private residences and rainforest villas available for purchase
- 18-hole golf course, the first on Grenada, designed by Robert Trent Jones II — one of the world's most renowned golf course architects
- Full-service marina, casino complex, and family entertainment park
HSG International is the official project developer since 2019. The implementing entity is Singapore Heng Sheng (Grenada) Development Pte Ltd, located at Lucas Street, St. George's, Grenada.
Construction Progress: First Tower Topped Out
This is the most notable distinction when compared to many Caribbean CBI projects — many regional developments sell investment units while still in design phase.
The first resort tower at GNR has been topped out, with attendance by the Prime Minister of Grenada and representatives from the Investment Migration Authority (IMA).
For CBI investors, actual construction progress matters more than renderings: applications are only approved while the project remains valid, and capital recovery depends on the resort's successful operation.
Two Pathways: Equity and Real Estate
The Grenada Government allows investors to obtain citizenship through approved real estate development investments. At GNR, two options are available, differing fundamentally in asset structure.
1. Resort Equity — Starting from USD 270,000
The minimum investment is USD 270,000. According to the developer's disclosure, this investment receives annual returns over 5 years, commencing the year following the resort's operational launch.
Once conditions set by the current IMA guidelines are satisfied, the equity stake may be resold and investors recover a portion of their capital. This resale right is provided under CBI legislation.
This pathway suits investors prioritizing lower entry cost with citizenship as the primary objective.
2. Real Estate — Apartment or Villa
Purchase of an apartment or villa with 100% permanent ownership rights, eligible for citizenship application, with options for rental income generation, and available for resale once IMA conditions are met.
This pathway suits investors who wish to retain tangible Caribbean assets, accepting higher investment minimums in exchange for complete ownership rights.
Program Requirements
The Grenada CBI program establishes baseline requirements:
- Primary applicant aged 18 or above
- Clean criminal record
- Passing due diligence review
Applications may include spouse, children, and dependent parents or grandparents.
Grenada permits dual citizenship — citizens maintain their original nationality.
Why Investors Choose Grenada Over Other Caribbean Jurisdictions
Grenada holds one distinction unavailable in the other four Caribbean CBI jurisdictions: a trade treaty with the United States, enabling eligible Grenada citizens to apply for an E-2 investor visa, subject to U.S. eligibility and approval.
This is the primary reason most investors explore Grenada: it represents a lawful alternative pathway to living and conducting business in the United States without waiting for EB-5 processing.
Additionally, Grenada imposes no wealth tax, inheritance tax, or capital gains tax.
Important Note: The E-2 visa is non-immigrant and requires maintenance of active business operations with periodic renewal. It is not a green card. Those with intentions of permanent U.S. settlement should evaluate EB-5 concurrently.
Relations with Local Government
The project engages directly with the Prime Minister's Office, Investment Migration Authority (IMA), and Planning and Development Authority of Grenada.
With CBI applications, this relationship is substantive, not ceremonial: project approval withdrawal would suspend pending applications. Over the past four years, the Caribbean region has tightened CBI regulations considerably, making project alignment with regulatory agencies a genuine layer of investor protection.
Environmental Considerations
Levera Beach adjacent to the construction site is the primary nesting ground for leatherback sea turtles — the world's largest sea turtle species. The project has committed to conservation of this area.
Key Considerations Before Investment
This bulletin describes the project and does not constitute investment advice. Four points warrant detailed inquiry:
- The 5-year return is a developer commitment, contingent on the resort's operational schedule. Request clarification of contractual terms.
- Resale conditions are set by IMA and subject to change. Current conditions at purchase may differ from conditions at sale.
- Program terms are established by the Grenada Government and subject to adjustment — minimum investment levels across the Caribbean region have increased over the past two years.
- Tax implications: seek independent tax counsel regarding obligations in your country of residence regarding foreign real estate ownership and foreign-source income.
Viking Global Group (ARB Vietnam) serves as the strategic distribution partner for Grenada National Resort in the Vietnam market.
For detailed comparison matrices of the two investment pathways based on your family's specific circumstances, or to review current construction progress updates, contact the advisory team for complimentary analysis.