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Dual Citizenship: Why Grenada Should Be Your Second Citizenship

18.03.2021

A stunning Caribbean country bursting with natural beauty and friendly culture; Grenada has long been one of the gems of the Caribbean islands. The commonwealth nation is not only renowned for its beauty, however, as it has one of the world’s most popular citizenship by investment programs and one of the best second passports for US citizens and others worldwide.

Investors from all around the globe can choose from varying investment opportunities in order to obtain Grenada citizenship for themselves and their family members, in turn becoming true global citizens. As the Caribbean country allows dual citizenship, holders of the Grenada passport, which provides visa-free travel to 144 destinations worldwide, truly unlock the world.

Grenada second passport | Migronis

Grenada Citizenship by Investment Program

The Grenada citizenship by investment program allows individuals to obtain a Grenada passport and citizenship by investing in one of two options; either by contributing to the National Transformation Fund (NTF) which starts at USD 150,000 or by purchasing government-approved real estate in the form of properties in real estate developments or shares in resorts at a minimum of USD 350,000.

The Grenada citizenship by investment program (CIP) is run by s specialized Grenada immigration department known as the Citizenship by Investment Committee (CBIC). Applicants who wish to apply for the Grenada CIP can do so through an authorized international marketing agent (IMA).

Grenada allows investors to add their family members to their applications, eligible family members are:

  • Spouse
  • Dependent children below the age of 30
  • Handicapped children regardless of age
  • Dependent siblings over the age of 18
  • Dependent parents of either or both the main applicant or spouse above 65 years of age
  • Dependent grandparents of either or both the main applicant or spouse above 65 years of age

This allows an investor to add the maximum amount of family members to the same file for the same investment.

Grenada second passport | Migronis

How to get dual citizenship in Grenada

To gain Grenada dual citizenship and the second passport Grenada offers through its citizenship by investment program can be obtained through five simple steps:

  1. Find an authorized international marketing agent. You must sign with an authorized and certified IMA such as Migronis you can start the process of choosing your investment and creating your application.
  2. Choose an investment type. Your IMA can help you choose the investment type that suits you most. You can choose either the NTF option or the real estate investment option. Your ITA can advise you which real estate option yields the best returns on your investment.
  3. Create and submit the file. Once you have chosen an investment option your ITA will create and submit the file on your behalf to the CBIC.
  4. Due diligence process. The Grenadian citizenship by investment committee will then run due diligence checks on all persons aged above 16 in the application.
  5. Government approval. Once the CBIC approves the file the applicant transfers the investment amount (invests in Grenada) and gets their second citizenship and second passport.

Grenada second passport | Migronis

Grenada Passport Requirements

The requirements to get a Grenada second passport are quite simple, you need to have a contract with an IMA, have the necessary net worth to invest in Grenada, not have a visa refusal from a country Grenada’s passport offers visa-free travel to, and have a clean criminal background. Any dependents you include aged above 16 will also need to have a clean criminal record.

The other requirements are making the investment itself, paying government applicable fees, and submitting a one-time full application. The documentation required to apply for Grenada’s citizenship by investment program and is very simple and IMA agents may help applicants gather them. IMAs compile the file and submit it on behalf of the applicant and their family members.

The government of Grenada also allows persons (individuals) or corporations to sponsor an application, meaning that individual or corporation can pay the investment amount on behalf of the main applicant. This makes the Grenada CIP easier for an investor who is in a country with rigid financial regimes.

Citizens of which countries cannot get a passport or can but with restrictions

While many citizenship by investment programs have lists of ineligible nationalities, Grenada’s citizenship by investment program does not have such a list and allows investors from all nationalities to apply.

Politically exposed persons, more commonly referred to as PEPs, can also apply to the Grenada citizenship by investment program, albeit they may require some additional documentation.

Grenada second passport | Migronis

Do I have to live in Grenada after acquiring citizenship?

One of the beautiful aspects of the Grenada citizenship by investment program is that it does not require any prior immigration to Grenada, Grenada residency, or Grenada permanent residency to apply for the program.

After getting the Grenada passport and citizenship you are free to choose if you would like to live in Grenada or live somewhere else, there are no requirements to renew the passport which is valid for 5 years and undergoes renewal for the same period indefinitely.

Benefits of Grenadian citizenship

There are many benefits of Grenada citizenship and passport that investors get to enjoy. While benefits are objective and tend to differ from one person to the other, there are some main benefits that everyone can agree on. The main benefits of the Grenada passport and citizenship are:

  • Visa-free travel – holders of the Grenada passport get visa-free access to 144 destinations worldwide including the Schengen Area, UK (United Kingdom) and the British Isles, Russia, Singapore, China, Hong Kong, and more; it is ranked as top 33rd most powerful passport in the world
  • Tax freedom – Grenada has a favorable tax regime. Those who get Grenada investment citizenship are not subject to worldwide income tax, inheritance tax, global capital gains tax, or net wealth tax.
  • Simple program – The Grenada citizenship requirements and application process are quite simple and quick, and there is no need for immigration to Grenada or Grenada residency prior to applying. An investor and their families can get citizenship by investment in Grenada after approximately three months of processing by the CBIC.
  • Access to the United States of America – Grenada citizens are eligible under a treaty with the US to obtain a USA E2 visa. Only a handful of countries around the globe are eligible to apply for an E2 under the E2 treaty.

Grenada second passport | Migronis

Grenada citizenship investment and E2 visas

The US E2 treaty is a non-immigrant treaty made with a handful of countries worldwide, of which Grenada is one. Grenadian citizens can apply for the US E 2, which is a business visa to the USA, and they can go on to reside in the United States.

The E-2 is one of the most cost-effective routes to immigrating to the USA, and unlike other treaty countries such as Jordan or Egypt whom nationals get a two-year single-entry visa, Grenadian citizens get a five-year multiple-entry E2 visa.

This is an excellent stepping stone for those looking for dual citizenship US and Grenada, and opens many doors of opportunity for savvy investors.

If you would like to know more about Grenada citizenship and one of the best second passports in the world by investment program you can book a free consultation with our Grenada citizenship expert by contacting us today.

Frequently Asked Questions & Answers

Does Grenada have dual citizenship?

Yes, Grenada’s citizenship ACT and law allow for dual citizenship. You have your rights reserved to maintain your original citizenship and become a citizen of Grenada as well.

How do I become a citizen of Grenada?

You can easily become a citizen of Grenada by applying for Grenada citizenship through its popular citizenship by investment programme. By investing in government approved real estate projects or by contribution to the national transformation fund.

How can I get permanent residency in Grenada?

By applying to Grenada’s citizenship by investment program and becoming a having Grenada as a 2nd citizenship you can live work, or retire in Grenada as you wish. You can residen in St. George’s, St. David, or anywhere else you please on the island.

Who qualifies for dual citizenship?

Anyone who has has the net worth to invest in Grenada, clean criminal background, and no visa rejections to any countries the Grenada passport offer visa-free access to can apply to become a Grenada citizen, hence becoming a dual citizen.

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