Cosmopolitans acquire Grenada citizenship for several reasons. Let’s talk about the pros and cons of this status.
Benefits of Grenada citizenship
Visa-free travel. The Grenadian passport allows you to travel without visas to 146 countries. The list includes those popular among travellers and business people.
The United Kingdom and the countries of the Schengen Area are among the visa-free destinations for Grenada passport holders. They can stay in the Schengen states for up to 90 days in any six-month period, and in the UK, for up to 180 days a year.
China is another country that Grenadian citizens can visit without a visa for up to 30 days a year, as the two countries have signed a special agreement. Also, Grenada citizens can travel to Singapore visa-free for up to 30 days and to Hong Kong for up to 90 days.
Sometimes Grenada passports are obtained for the sake of a visa-free entry into China. For example, this is what Federico, a client of Immigrant Invest, did.
Federico supplies medical equipment to Asian countries but he often had problems with entering China: he had to apply for a visa every time. Because of the bureaucracy, negotiations broke down and the reputation of the company deteriorated.
Immigrant Invest lawyers offered a solution to the problem — a Grenada passport by investment. Federico received citizenship 3 months after applying.
Business visa to the USA. Eligibility for an E-2 US visa is another Grenada passport benefit. This business visa is issued only to citizens of countries with which the United States has signed a treaty of commerce and navigation. It is not available to citizens of countries without this agreement with the USA.
On E-2 visas, holders can live and do business in the United States. The spouse and children of the main applicant can also live, study and work in the USA. There are no restrictions on entering and leaving the country.
No minimum investment threshold is defined: according to the legislation, the investor must deposit a significant amount of money into their company.
Usually, it is enough to invest $200,000. It takes 2—5 months to get a visa. Grenada citizens get it for five years; then, it can be renewed.
If the country of the investor’s citizenship doesn’t have a treaty of commerce and navigation with the US, only an EB-5 visa can be obtained. This is an investor immigrant visa.
It is optional to manage the business to obtain an EB-5 visa. But you need to invest at least $800,000. It will take one and a half to two years to complete.
Nicolas wanted to move to the US to expand his business and provide his daughter with high-level education and the whole family — with a new quality of life in a country with a prosperous economy and diverse culture.
The investor needed a visa to move to the US. The Grenada passport and the E-2 visa were suitable: Nicolas liked that he could get a visa in a couple of months and fit into his budget.
We helped Nicolas and his family obtain a Grenada passport in 5.5 months. He has already registered a company in San Francisco and is preparing to get a US visa.
A 10-year visitor visa to the USA. Citizens of Grenada, like other Caribbean countries, receive a B-1/B-2 visitor visa to the United States for up to ten years. The visa allows you to spend up to six months in the US during the year.
Tax optimisation. Grenada has no taxes on interest, royalties, capital gains, and inheritance. This allows investors and their companies to reduce the amount of taxes.
The income tax is up to 28% and is paid only if the money has been earned in Grenada. Tax on real estate ranges from 0 to 0.5%.
People who live in Grenada for most of the year become the country’s tax residents. They mustn’t pay withholding tax on dividends, royalties and interest earned in the country or abroad. The tax on dividends for non-residents is levied at 15%.
Tax rates for Grenada tax residents
|Type of tax||Rate|
|Tax on income earned in Grenada||28%|
|Tax on income earned abroad||0%|
|Withholding tax on interest, dividends, royalties||0%|
The corporate tax in Grenada is levied at 28%. Companies registered there pay the tax on the whole global income, and non-resident companies’ income is taxed if earned in Grenada.
Education of children abroad. Grenada citizens can receive a first-class education in the UK and the US on preferential terms because Grenada has close historical and economic ties with these countries.
Leading Grenadian universities interact with universities in the US and UK: for example, the St George’s University of Medicine in Grenada. Students also complete a 16-week internship in US and UK hospitals. The university’s diploma is recognised in 47 countries, including the US, the UK and Germany.
Daniel, a businessman from Albania, wanted his grandson Edon to study abroad. They were looking for a medical school, and St George’s University in Grenada attracted their attention. The tuition fees were pretty high, but there was a 90% discount for the country’s citizens.
The investor turned to Immigrant Invest, and we have helped his daughter and grandchildren obtain Grenada passports in six months. Edon will save $47,000 on his education and enjoy all the benefits of the second passport in future.
Accounts at foreign banks. A Grenada second passport holder can open accounts in European, American, or Grenadian banks.
There may be few or no difficulties for Grenada citizens while opening a bank account abroad. In contrast, citizens of most countries face numerous challenges in opening a bank account in the EU or the United States: strict checks and often rejections.
An account with a European or American bank allows holders to keep their savings in a hard currency and pay lower commissions for foreign transfers. It also speeds up foreign exchange settlements with business partners.
Second passports for the whole family. Investors can include their family and relatives in the application for Grenadian citizenship, as long as the main applicant’s children, adult siblings, parents, grandparents or their spouses are financially dependent on them.
Fast process of obtaining a second passport. Grenada citizenship by investment program allows investors to get passports in several months. The usual application processing time is three to six months.
Relatively low costs and the ability to recover the initial investment. The minimum investment amount of the Grenada citizenship program is definitely lower than the one required by the Global Visa Programs in the EU.
The minimum investment contribution for Grenada citizenship is $150,000, whereas the investment amount for a residence permit in the EU is usually €250,000 or €500,000. At the same time, a residence permit does not provide the same freedom of travel as citizenship.
The Grenada citizenship program’s Due Diligence fee is $5,000 for each family member over 17 years of age. The investor also pays administrative and passport fees.
Investor’s expenses under the Grenada citizenship program
|Number of family members||Non-refundable contribution to a state fund||Buying real estate|
|Investor and spouse||$217,650+||$287,650+|
|Investor, spouse and two children under 16||$223,150+||$293,150+|
Buying real estate to participate in the Grenada citizenship program allows the initial investment to be returned after five years.
Profitable investment. If investors buy apartments, villas or shares in government-approved projects for at least $220,000, they can make a profit.
When the property remains in the investor’s ownership, they can receive income of
2 to 5% per annum by renting out their property.
Properties to buy to get Grenada citizenship
Who benefits most from Grenada citizenship by investment?
Individuals searching for an international lifestyle. Grenada passport holders can travel without visas to 146 countries throughout the world. Visa-free destinations include the Schengen Area and the UK. Grenada citizens can also travel to the United States on a B-1/B-2 visa.
Wealthy people who want to move to the United States. An E-2 visa can be obtained with a Grenada passport. This business visa allows investors and their families to live in the United States.
Entrepreneurs. With a Grenada passport, entrepreneurs can also expand their business in the Asian markets, as Grenada citizens can travel visa-free to China, Hong Kong and Singapore.
Investor’s children who want to study abroad. Grenada citizens receive benefits and scholarships to study at universities in the UK and US, with the possibility of internships at leading companies there.
Disadvantages of Grenada citizenship
The Grenada passport gives cosmopolitans the freedom to travel around the world. But this status also has disadvantages: a Caribbean passport is unsuitable for some purposes.
Limited stay in the Schengen Area. Cosmopolitans with a Grenada passport can spend 90 out of 180 days in Schengen, as with a visa. The only advantage is that citizenship is given for life, and the visa is re-approved every time it is renewed.
Citizenship of Grenada is not suitable for investors who want to move to Europe or acquire a “back pocket residence” there in case of danger. They should pay attention to the Maltese passport for exceptional services — it allows you to live in any EU country. A residence permit in Portugal, Greece, Spain or Malta is also suitable. With a residence permit, you can only move to the country that issued it.
Limited stay in the UK. The disadvantages of the Grenada passport include a limited time spent in the UK. Citizens of Grenada come there as tourists and spend up to 6 consecutive months. One needs a visa to study, work, and even marry in the country.
How to get a Grenada passport
Obtaining a Grenada passport by investment is possible only through a licensed agent: this is a program prerequisite. The procedure for obtaining a passport involves several stages and takes about 4—6 months.
Stage 1: preliminary Due Diligence. At this stage, the licensed agent carries out preliminary Due Diligence and warns the investor about possible emerging risks. The check takes 1 working day.
Immigrant Invest has its own compliance department. A Certified Anti Money Laundering Compliance Officer studies the situation of each investor and reduces the risk of rejections to almost zero.
Head of the Legal Department, lawyer, PhD in Law
Stage 2: collecting and submitting documents. The lawyers of the licensed agent prepare all the necessary documents and submit them to the Grenada citizenship program department. Also, the investor pays the state fee and pays for the Due Diligence at this stage.
Preparation of documents takes up to 4 weeks, and the application processing time is 3—6 months.
Stage 3: fulfilment of investment conditions. The investor transfers the agreed investment amount after receiving the government’s approval of their application. The confirmation is sent by e-mail to the agent. The investor can transfer the money to the relevant government department from their personal account.
Applicants have 30 days to buy real estate or contribute to the state fund.
Stage 4: obtaining a passport. After the investment is transferred to the Grenada citizenship program department, the passport and the naturalisation certificate are issued within 4 weeks and sent to the address indicated by the investor.
All stages of the citizenship by investment application can take place remotely. The physical presence of the investor in Grenada is not required.
Frequently asked questions
Grenada passport holders can visit 146 countries without a visa, including Schengen, the UK, China, Singapore, and Hong Kong. Grenada citizens can stay in these countries without a visa from 30 to 180 days a year.
Investors are also eligible to apply for the US E-2 visa, which allows the holder to live and conduct business there. This business visa is issued only to citizens of countries with which the United States has signed a special agreement, and it is not available to citizens of many countries.
- to travel to 146 countries visa-free;
- to get a US visa to travel or to reside and run a business there;
- to provide their children with high-quality education;
- to optimise taxes;
- to open accounts in foreign banks.
Grenada citizenship by investment can be obtained in several months, and the minimum investment amount is $150,000.
It is quite powerful: Grenada passport holders can travel to 146 countries visa-free.
The fastest and easiest way to get a Grenada passport is to participate in the government citizenship program for investors.
In exchange for a passport, investors make an irrevocable contribution of $150,000 to the state fund or buy real estate in the country for $220,000. A Grenada passport by investment takes 3—6 months to process.
The main costs are the investment and the Due Diligence fees. The minimum investment is $150,000, and the Due Diligence fee is $5,000. Administrative and passport fees also need to be paid.
Yes. The investor can include their family and relatives of their spouse: children, parents, grandparents, brothers and sisters. Citizenship investment programs of other Caribbean countries and Vanuatu also allow family members to be included in the application.
The Grenada citizenship by investment program does not require the physical presence of the investor in Grenada. All stages of the program can be carried out remotely, including the conclusion of an agreement, submission of documents and Due Diligence. The investor receives the passport at the office of the licensed agent or the address indicated by them.
Grenada citizenship by investment can be obtained in several months. Application processing time is 3—6 months, and some time is needed to prepare the necessary documents.
Yes, Grenada allows investors to have dual citizenship. They don’t need to renounce their previous citizenship to enjoy the benefits of a Grenada passport.
It is quick and quite convenient if you get Grenada citizenship by investment.
Investors are not obliged to live in Grenada or even visit the country, and the application processing time is several months. However, all applicants must meet strict eligibility criteria.