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Grenada - How To Get A Second Passport

4 min read

Grenada - How To Get A Second Passport

Grenada Citizenship By Investment Program is for high-net-worth individuals interested in protecting their wealth now and in the future. Keep reading for more information on this amazing Citizenship By Investment.

Discovering Grenada is a great experience, as you will discover places like Carriacou and Petite Martinique, hidden gems with untouched beauty, affectionately known as the Spice of the Caribbean.

Grenada is a colourful nation offering pristine beaches and rainforests, and its economy is driven by agriculture and tourism. Grenada is the only Caribbean island that offers successful candidates in the citizenship program the opportunity to move to the US under the E2 Treaty visa permanently.

 

Grenada

Grenada is one of the island countries in the West Indies in the Caribbean Sea at the southern end of the Grenadines island chain. It is located northwest of Trinidad and Tobago, northeast of Venezuela, southwest of Saint Vincent and the Grenadines, and Dominica. And it had an estimated population of 112,523 in July 2020. Its capital is St. George's.

Grenada’s proximity to the Equator ensures a year-round tropical climate, with average temperatures ranging between 23 °C and 28 °C (between 73 °F and 83 °F). Its cooling trade winds offer very comfortable conditions. Living and working in Grenada costs slightly less than in the USA overall though housing is a lot cheaper, while for most of the EU Grenada costs a lot less to live.

 

 

Grenada Passport

The Grenada Citizenship by Investment Committee (CBIC) is the official Government body responsible for overseeing the processing and approval of applications for citizenship by investment.

The CBIC assesses each application in accordance with the Grenada Citizenship by Investment Act, 2013. It then makes recommendations to the Prime Minister, who has the final say on whether to approve, deny, or delay the granting of Grenadian citizenship.

Grenada´s citizenship has quickly become known as one of the best citizenship programs in the world, offering a fast-track process where applicants can obtain a passport in 3-4 months. Grenada has won the award for best international citizenship program. In perspective, many countries have a minimum wait period of 6 months before receiving your papers.

 

The Grenada passport grants its holder visa-free access to 144 countries worldwide

The Grenada passport grants its holder visa-free access to 144 countries worldwide

The Benefits Of Having A Passport From Grenada  

Visa-free travel to many countries – The Grenada passport grants its holder visa-free access to 144 countries worldwide, including countries part of the Schengen Area, Russia, the UK, and China. It is ranked as the 33rd most powerful passport in the world.

Simple and quick process – Unlike other countries, Grenada passport requirements are simple and straightforward, and there is no need for you to immigrate to Grenada or have Grenada residency prior to applying. The access to the country is quick and easy, and you don't have to come to Grenada alone. An investor and their families can get citizenship-by-investment in Grenada in approximately 3 months. 

Adding family members – The Grenada citizenship by investment program allows investors to add family members such as their spouse, dependent children below the age of 30, dependent parents & grandparents, and dependent unmarried siblings above 18 years of age. This is a big differential from other countries' citizenship programs, limiting you to direct family members, spouses, and parents only. Furthermore, with Grenada citizen status, you also have access to services provided by the government.

 

Granada's Citizenship by Investment Program is ideal if you want to bring your family and dependents

Granada's Citizenship by Investment Program is ideal if you want to bring your family and dependents

What Happens In Grenada When You Buy Your Citizenship?

Like many other Caribbean countries, the government started this CBI to create investment opportunities to attract high-net-worth investors and improve the country’s economic standing by creating substantial businesses, sustainable employment opportunities, and environmental security. 

In addition, there are great advantages to obtaining a Grenada passport, as you will also have the right to use it as your official identification document.

 

Citizenship Requirement and Eligibility

You will need to follow these requirements,

The primary applicant must: 

  • Be over 18 years old

  • Have an outstanding character

  • Be in good health

  • Hold a clean criminal record

  • Pass a background check

  • Provide proof of funds, which must be legal income



The Grenada CBI program is extremely affordable and allows you to enjoy the Spice of the Caribbean

The Grenada CBI program is extremely affordable and allows you to enjoy the Spice of the Caribbean

Application Processing Time

What is great about Grenada CBI is that it is an extremely fast citizen application process. Once your application has been submitted and approved, you will be able to get your citizenship processed in as little as 90 days. 

 

Grenada Citizenship By Investment Program

The Grenada CBI program is extremely affordable, with 2 investment options. The Grenada National Transformation Fund (FTF) or the Pre-approved real estate project route. Below is a table with detailed information about the investments:

 

National Transformation Fund (NTF)

NTF Donation

Inidividual Applicant

Main Applicant - Spouse

Family of 4 family members

Family over 4 family members

Required Contribution Amount

USD $150,000

USD $200,000

USD $200,000

USD $200,000 plus USD $25,000 per additional dependant after the 3rd dependant

*Legal Fees and additional expenses are not included in these Investment Options

 

REAL ESTATE

The cost of the Grenada passport through purchasing real estate is a minimum of  $350,000 USD in addition to a smaller contribution amount and the aforementioned processing, application, and due diligence fees. An applicant can resell their property after 5 years of getting their citizenship, making this a great option for those who want to recoup the bulk of their investment amount. 

NTF Donation

Inidividual Applicant

Main Applicant - Spouse

Family of 4 members

Family over 4 members

Required Contribution Amount

USD $350,000

USD $350,000

USD $350,000

USD $350,000

Government Fee

USD $50,000

USD $50,000

USD $50,000

USD $50,000 plus USD $25,000 per additional dependant after the 3rd dependant

*Legal Fees and additional expenses are not included in these Investment Options

 

TRANSLATION AND CERTIFICATION OF DOCUMENTS

Documents that are not written in English must be accompanied when the application is submitted, with a certified translation into English. These costs are also not added to the investment value, as they can vary from case to case. This is why we advise you to consult an expert on the matter before starting your Citizenship By Investment process.

When a document needs to be produced to support the CBI application, it must be certified and authenticated per the law of the jurisdiction from which the document originates. Having your documents apostilled can also help expedite the whole process. Always ensure all information required of you are properly prepared and filed to avoid possible delays or extra costs.

 

Tax Considerations

Favourable tax scheme – Grenada is one of the few remaining countries you can call a tax haven. Grenada citizens enjoy a lax tax regime. Those who get Grenada investment citizenship are not subject to worldwide income, inheritance, or net wealth taxes. Grenada does tax their tax residents if they source their income from within the territories. 

 

Related content: Montenegro - How To Get A Second Passport

 

Grenada´s citizenship is known as one of the best citizenship programs in the world

Grenada´s citizenship is known as one of the best citizenship programs in the world

Conclusion

If you are a high-net-worth individual and are looking to set up a Plan-B option for you and your family, then the Grenada Citizenship by Investment Program is for you. This program is one of the most well-utilized wealth protection concepts that we use for our clients at Expat Money.  

Every day we get a call regarding second residencies and second passports, and those numbers are coming in faster daily. Grenada has an amazing program, and with our assistance here at Expat Money, you could possibly have your new passport in as little as 3 months.

 

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Mikkel Thorup

Written by Mikkel Thorup

Mikkel Thorup is the world’s most sought-after expat consultant. He focuses on helping high-net-worth private clients to legally mitigate tax liabilities, obtain a second residency and citizenship, and assemble a portfolio of foreign investments including international real estate, timber plantations, agricultural land and other hard-money tangible assets. Mikkel is the Founder and CEO at Expat Money®, a private consulting firm started in 2017. He hosts the popular weekly podcast, the Expat Money Show, and wrote the definitive #1-Best Selling book Expat Secrets - How To Pay Zero Taxes, Live Overseas And Make Giant Piles Of Money, and his second book: Expats Guide On Moving To Mexico.

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