ST GEORGE’S, Grenada, (Thomson Reuters Foundation) – Investing in the tropical Mount Cinnamon Resort in Grenada, with its white sand beaches, buys more than a slice of paradise – it comes with citizenship and a passport with visa-free entry to almost 130 countries.
Few who take up the offer may ever visit their new homeland but for cash-strapped Caribbean states such as Grenada, “citizenship by investment” is a lucrative way to bankroll development and smart hotels, while chipping away at huge debts.
Grenada is one of a growing list of countries, including four others in the Caribbean, cashing in on a booming industry that offers citizenship or residency in return for investment as more people look for political and economic safe havens.
