Dual citizenship in Grenada: what investors must know before applying

Yes. Grenada allows its citizens to hold passports of other countries. Likewise, foreigners can become citizens of Grenada without renouncing their first nationality, unless their country of origin requires otherwise.

Foreigners can obtain a Grenadian passport based on four main grounds: by investment[1], naturalisation, marriage, and descent[2]. Citizenship by birth is granted automatically.

Investment 

Foreigners can obtain Grenada citizenship by investing in the country’s economy. There are two ways to do so: 

• make a non-refundable contribution of at least $235,000 to the National Transformation Fund;
• or purchase government-approved real estate for the price of at least $270,000. 

Aside from the investment itself, applicants also pay a number of fees, including a $50,000 state fee when buying real estate and a $5,000 Due Diligence fee.

Naturalisation

Long-term residents of Grenada are entitled to citizenship. Commonwealth citizens can apply for their passports after 5 years of residing in the country, other foreigners — after 7 years. It includes at least 12 months of continuous residence right before the application for citizenship.

Applicants must also be of good character, intend to reside in Grenada, and take the oath of allegiance if required.

Marriage

Grenada citizenship is available to the spouses of its citizens. They can claim citizenship regardless of whether their spouse was born a Grenadian national or became one by naturalisation.

The applicant for citizenship by marriage must be of full age and capacity, and demonstrate good character and knowledge of English. There are no specific minimum residency requirements.

Birth and descent

Any person born in Grenada, unless born to a parent who is a foreign diplomat or has diplomatic immunity, automatically becomes a citizen of Grenada. 

If a child is born abroad, they will be granted citizenship if at least one of their parents is a national of Grenada. A child can also obtain Grenada nationality if they are adopted by a citizen of the country.

To obtain Grenada citizenship by investment and get multiple nationality, foreigners need to meet the program’s requirements.

Requirements for the main investor

The main investor should: 

• be over 18 years old; 
• have no criminal record;
• be in good health;
• confirm the legality of their income.

Nationals of Iran, North Korea, Russia, Belarus, Sudan, Yemen, and Afghanistan are restricted from applying. They might be eligible only if the following conditions are met:

1. The person has migrated from the restricted country before turning 18 or, if not, has maintained permanent residence or valid visa approval in Canada, the UK, Schengen member states, the US, Australia, New Zealand, Saudi Arabia, and the UAE for at least 10 years.
2. The person maintains no economic ties to the restricted country.
3. Due Diligence providers are able to conduct in-country Enhanced Due Diligence in the country of birth[3].

Requirements for the family members

Investor’s family members can obtain passports under the same investment. This applies to: 

• spouse of the opposite sex; 
• children under 18;
• children under 30 if they are financially dependent on the main applicant;
• parents and grandparents of the spouse if they are dependent on the main applicant; 
• siblings of the investor and their spouse if they are over 18, unmarried and don’t have children.

The final cost of obtaining Grenada citizenship includes the investment amount and additional fees and depends on the number of applicants. The minimum expenses stand at $244,500.

Contribution to the fund option

With the non-refundable contribution option, the threshold is $235,000 for families of up to four people in the application. The contribution increases by:

• $25,000 for each parent or grandparent over 55 and child from the 5th applicant;
• $50,000 for each parent or grandparents under 55;
• $75,000 for each sibling.

Aside from the contribution, investor also pays fees[4]: 

• Due Diligence fee: $5,000 for each family member of over 17.
• other fees: $4,500+.

Real estate purchase option

With the real estate purchase option, investors purchase shares in state-approved projects. The prices for approved objects start from $270,000. 

Investors will be able to sell their shares and return the investment in real estate 5 years after they obtain citizenship of Grenada. If they do so earlier, they won’t be able to renew their passports. 

Aside from the property purchase, the investor also pays: 

• $50,000 state fee for applications with under four family members; 
• additional state fee: $25,000 for each parent or grandparent over 55 and child from the 5th family member, $50,000 for each parent or grandparents under 55, and $75,000 for each sibling;
• $5,000 Due Diligence fee for each family member over 17;
• other fees: $4,500+.

The most prominent benefits of the Grenada passport include visa-free travel to 140+ countries, the opportunity to obtain a 10-year B-1/B-2 visa, optimisation of taxes, simplified procedure of opening bank accounts in Europe, and the right to move to Grenada anytime.

140+ visa-free destinations

Grenada citizens don’t need a visa to enter 146 countries, including the Schengen states, the UK, Singapore, and China.

To enter the Schengen countries and stay there for up to 90 out of 180 days, Grenadian citizens must register in the EES, Entry/Exit System[6]. To travel to the UK, they must obtain an Electronic Travel Authorisation, ETA[7]. The allowed stay is up to 180 days.

Long-term US visas

Grenada passport holders can apply for a 10-year tourist visa B-1/B-2 to the USA. It allows entering the country for tourism, business, and medical treatment. 

Aside from that, Grenada citizens can qualify for an E-2 Treaty Investor visa[8], which allows residing and working in the country. To get the visa, applicants invest into a business in the US. There is no minimum amount requirement, it must be substantial in relation to the business. Investors must also live in Grenada for at least 3 years before being eligible for it.

Territorial tax system

Grenada applies a territorial tax system[9], which means only income earned within Grenada is subject to personal income tax, while foreign-sourced income is exempt. Investors who do not become tax residents are also not required to declare worldwide income.

The standard VAT rate is 15%. There are no inheritance or capital gains taxes. 

Opening bank accounts in Europe

Aside from banks within the state, Grenada passport holders can open accounts in European and American banks relatively easily. Typically, banks don’t request additional documents from Grenada citizens.

Relocation to Grenada at any time 

Grenada passport holders can move to the country and reside there for as long as desired. They are allowed entrance even in extraordinary circumstances, such as closed borders. 

A Grenada national can always be sure they have the option to move to the island and reside there for as long as they need to.

Grenada citizens must renew their passports upon expiry, obey local laws, and pay taxes if they live or do business in the country.

Passport renewal

The validity period of Grenada passports is 10 years for adults[5] and 5 years for minors. To renew it, investors present their naturalisation certificates. This can be done remotely with the help of Immigrant Invest.

Investors don’t have to visit Grenada and stay in the country for any time in order to renew their passports. They do need to obey the state’s law in order to retain citizenship. 

Obey the law

If a CBI program participant commits a state crime, they will be deprived of the status. If they commit a crime outside of the state and are jailed for 12 months or more within 5 years after gaining citizenship of Grenada, their status will be revoked. 

Pay taxes

Grenada citizenship itself does not oblige investors to pay taxes in the country, except for the property they own in the country. The combined annual land and building tax amount to up to 0.8% of the market value of the property.

If investors want to pay taxes in Grenada, they need to become tax residents of the state. The status is granted only to those who spend at least 183 days a year in the country.

1. Grenada does allow multiple nationality. This means that a foreigner can obtain the country’s passport without having to renounce their first nationality, unless their country of origin requires otherwise.
2. There are multiple ways for foreigners to obtain citizenship of Grenada: by investment, by naturalisation, by marriage, and by descent.  
3. Citizenship by investment in Grenada can be acquired within 8 months. For that, applicants invest at least $235,000 in the country’s economy.

1. Source: Overview of the Grenada Citizenship by Investment on the website of Investment Migration Agency
2. Source: Acquisition of Grenada citizenship legislations, Citizenship Act
3. Source: List of nationalities ineligible to apply for citizenship by investment
4. Source: All expenses associated with obtaining Grenada citizenship through donation route
5. Source: Grenada Broadcasting Network confirms adult passports are now valid 10 years
6. Source: Overview of the EES on the website of the European Union
7. Source: Overview of the UK ETA on the UK government website
8. Source: All the requirements for the E-2 Treaty Investor Visa
9. Source: Grenadian taxation, Inland Revenue Division