Grenada passport renewal and other citizens’ rights and duties

However, five years after receiving a Grenada passport, it must be replaced with a new one. This requirement concerns any passport holders regardless of age. Documents for renewal are submitted to the immigration service.

To renew a Grenada passport, the investor turns to a licensed agent. The procedure is remote, and there is no need to go to Grenada.

Immigrant Invest lawyers fill out government forms and apply for passport renewal. The investor provides the following documents for the Grenada passport renewal:

1. Valid passport.

2. Naturalisation certificate.

3. Two passport-size photos no more than six months old.

4. Children under the age of 16 years must have the written consent of their parent or legal guardian when applying for a passport.

5. Applicants, if married, must supply their original Marriage Certificate. If divorced, please provide the original Divorce Decree.

6. Application form.

Specifications for photographs: no glasses, no hair bands visible, no big earrings. Ears must be visible, hair must be away from the face and not covering the forehead. The chest must be covered.

All documents will be returned with a new passport. Courier delivers a new Grenada passport to the address provided by the investor. It takes two to four weeks to renew the passport.

The passport renewal fee is $105. Professional services, bank commission and forwarding of documents are paid separately.

Grenada passport renewal is also obligatory when a valid passport was lost, stolen, or the document holder has changed his name.

Besides Grenada passport renewal, obtaining citizenship by investment imposes additional obligations on the investor.

Providing reliable information is a prerequisite for participation in the citizenship by investment program. Therefore, the authenticity of documents is checked during Due Diligence.

If the investor provides false information about themselves, the government of Grenada may cancel the passport in the future.

Complying with the program conditions. If the investor buys property under the Grenada CBI program, he is not to sell it for five years.

Notice of second citizenship. Depending on the home country’s laws regarding citizenship, the investor may be required to officially notify about obtaining a second passport.

Payment of taxes. Buying a property, registering a yacht, running a business or earning other income in Grenada results in the obligation to pay taxes in the country.

Business and taxes in the Caribbean countries

Income tax is levied only on income earned in Grenada. The rate is 10% on the first EC$24,000 and 28% on income above that amount.

If the investor does not live in Grenada but earns income from a company registered in the country, dividends are subject to a withholding tax of 15%. However, there is no need to pay income tax in this case.

Military service. People with two passports often should serve in the army in both states unless they agree to recognise dual citizenship. There is an agreement between them on recognising dual citizenship. However, this does not apply to investment program participants. As a rule, neither investors nor their family members are required to serve in the army of the country of second citizenship.

With the Grenada passport, an investor can get a US business visa, optimise taxes and cross the borders of other countries without visas.

7 reasons to get a Grenada passport

Living in Grenada without time restrictions. The investor and their family can come to the country even if the borders are closed. However, living in the country is a right, not an obligation. The investor can get a passport remotely without visiting Grenada before or after the application approval.

The investor can come to Grenada for vacation or have a “safe haven” there for emergencies or dangerous situations in the country of residence.

Visa-free travel. The investor can visit 146 countries without visas, including the Schengen area, the UK, Hong Kong, Singapore and China.

Incentives in the UK. Grenada is a former British colony. After gaining independence, the country remained under the control of the British monarch. A Governor-General represents the monarch on the island.

Grenada is a member of the Commonwealth of Nations. Therefore country’s citizens may spend up to 180 consecutive days in the UK. In addition, Grenada citizens are subject to preferential conditions for studying at British universities, e.g., scholarships for Commonwealth citizens.

The E‑2 business visa to the USA. Grenada is the only Caribbean country with a citizenship by investment program whose citizens are eligible for an E‑2 business visa to the USA. To get it, an applicant invests in a local business and owns at least 50% of the company’s authorised capital.

Grenada citizens get an E‑2 visa valid for 5 years. After the expiration date, the visa can be extended an unlimited number of times if the business continues to operate and profit.

Business visa holders can live in the United States or come to the country anytime. The investor can run a business, and their spouse gets the right to work. In addition, children under 21 can study at American schools and colleges.

10-year tourist visas to the USA. Grenada citizens can get a B‑1/B‑2 visa valid for 10 years in the USA. Visa holders may spend up to 180 days a year in the United States: visiting friends and relatives, travelling across the country, getting medical treatment at local clinics, participating in conferences or holding business meetings.

Reduced tax rates in Grenada. Grenada has no taxes on capital gains, inheritance or global income. In addition, the rates of some taxes are lower for the country’s citizens. For example, when a Grenada citizen sells real estate, they pay the property transfer tax of 5% of the property value. Foreigners pay the same tax at the rate of 15%.

Taxes in Grenada for individuals and companies

Incentives in the Caribbean countries. Grenada is a member of the Organisation of Eastern Caribbean States (OECS) and the Caribbean Community (CARICOM). The country’s citizens can come to any member state of the associations without a visa.

The Caribbean countries are duty-free, so business in the region can be profitable.

Retaining citizenship of other countries. Grenada allows its citizens to have a second citizenship. Therefore, when obtaining a passport, the investor does not need to renounce the citizenship of other states.

An investor can participate in the Grenada citizenship by investment program only through a licensed agent.

Guide on Grenada citizenship by investment

Benefits of the Grenada CBI program include:

• remote process for citizenship obtaining and Grenada passport renewal;

• absence of requirements to reside in Grenada after obtaining citizenship;

• all data about the investor and the fact of passport obtaining are confidential and are not subject to disclosure to third parties;

• if the investor buys a property to participate in the program, they can sell it five years later and return the money;

• investors obtain citizenship quickly, in 4 to 6 months.

Investors' family members can obtain Grenada citizenship under the program. Among them: spouses, children under 30, parents and grandparents of both spouses, unmarried and without children siblings of both spouses if they are 18 years or older.

The main applicant must fully financially support all the adult family members, except for the spouse.

Investors choose from two investment options: a non-refundable contribution to a state fund or a real estate purchase.

The non-refundable contribution to a state fund. The National Transformation Fund was established in 2013. The fund finances various tourism and agriculture projects.

The purchase of real estate. A property can be bought in Grenada in full or shared ownership. However, the Grenada government must approve the property for participation in the CBI program.

The investor is to own the property for five years. After that, they can sell the property and return the money invested.

A newborn child can get Grenada citizenship within a year after the approval of the investor’s application. However, a spouse, parents and siblings cannot be added to the original application.

The investor’s children inherit the Grenada passport. They obtain citizenship by descent.