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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.Grenada's Prime Minister Keith Mitchell said his country had gained massively since starting a program in 2014, whereby people can acquire citizenship for an investment from $150,000 .Range Developments, which built a five-star hotel on St. Kitts and is now working on a new resort, said that citizenship-by-investment funds covered about 65 percent of the cost of putting up the Park Hyatt, which has employed hundreds of local people.
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