Dual citizenship in Grenada: everything you need to know before investing

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.

Investment. Foreigners can obtain Grenada citizenship by making an investment in the country’s economy. There are two ways to do so: make a non-refundable contribution of at least $150,000 to the National Transformation Fund, or purchase government-approved real estate for the price of at least $220,000.

Grenada citizenship by investment

Aside from the investment itself, applicants also pay a number of fees, including a $50,000 state fee 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.

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.

Birth and descent. Children born in Grenada become citizens of the state automatically. 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 claim 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.

The main investor should:

• be over 18 years old;

• have no criminal record;

• be in good health;

• be able to confirm the legality of their income.

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.

If the investor adds family members to the application, they pay a bigger non-refundable contribution and more in Due Diligence and other fees.

With the non-refundable contribution option, investors pay $150,000 if they apply alone and $200,000 if there are two to four people in the application. If there are more than five people, the contribution increases by $25,000 for each parent over 55, $50,000 for each parent under 55, and $75,000 for each sibling.

Aside from the contribution, investor also pays fees:

1. Due Diligence fee: $5,000 for each family member over 17 in the application.

2. Other fees: around $3,270 per person.

With the real estate purchase option, investors purchase shares in state-approved projects. The prices for approved objects start from $220,000.

Examples of properties in Grenada

Grenada, Saint Davids

$270,000+

Share in a modern SPA complex resort

Grenada, St. George's

$270,000 — $350,000

Share or apartments in full ownership in an oceanfront university complex

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Grenada, Saint Davids

$270,000+

Share in a new resort complex managed by the Intercontinental group

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:

• a $50,000 state fee for applications with under four family members;

• an additional state fee for applications with five or more family members: $25,000 for each parent over 55, $50,000 for each parent under 55, and $75,000 for each sibling;

• a $5,000 Due Diligence fee for each family member over 17;

• other fees — around $3,270 per person.

The validity period of Grenada passports is 5 years. 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.

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.

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.

Taxes in Grenada

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.

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

Access to a long-term USA visa. 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.

Pros and cons of Grenada citizenship

Aside from that, Grenada citizens can qualify for an E—2 visa, which allows residing and working in the country. To get the visa, applicants invest at least $100,000 into a business in the USA.

Reduced tax burden. Grenada tax residents don’t pay taxes on global income, dividends, or royalties received from abroad. There are no taxes on inheritance, capital gains, income and stamp duty.

European bank accounts. 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.

How the Grenada passport can make your travels simpler and eliminate the need for visas

The freedom to enter Grenada at any time and reside there for as long as desired. Citizens of the country 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.

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 in 6 months or less. For that, applicants invest at least $150,000 in the country’s economy.