Grenada Passport: 11 Essential Pros and Cons of the Grenada CIP

To be discovered in the Eastern Caribbean Sea is the country of Grenada, an offshore tax paradise for high net worth individuals. Essential Grenada passport benefits include the ability to eliminate all income tax plus visa free travel in the Schengen area, China, Russia in addition to US E-2 visa eligibility. There is so much more to gain with the Grenada passport.

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Learn all of the PROS and CONS about the Grenada citizenship program including the limited drawbacks in this comprehensive blog post all about the Grenada passport. Hopefully the Grenada CIP is the right program for your objectives, find out more below. 

No More Tax Returns

The theme of this website is “No More Tax Returns”. Explore this ideal which can quickly become reality. Indeed, it is not nearly as complex as it sounds with the Grenada passport. Make no mistake, our offshore tax solutions are 100% legal. The first step of a legitimate offshore tax plan, is second citizenship.

Once you have second citizenship from Grenada, choose the country with the most suitable tax residency benefits and live tax free. How is this possible? The simple solution is revealed below plus many addition benefits.

Grenada Passport PROS & CONS List

  1. Brief History of the Grenada CIP – PRO
  2. Grenada Personal Income Tax Rates – PRO
  3. Tax Documents (TIN, Driver’s License) – CON
  4. Get US E-2 Visa Eligibility with Grenada Passport – PRO
  5. Travel Visa Free with Grenada Passport – PRO
  6. Qualify with Real Estate Investment – PRO
  7. Kimpton Kawana Bay is a Failed Project – CON
  8. CARICOM & OECS Advantages – PRO
  9. Exceptional Family Benefits of the Grenada CIP – PRO
  10. St George’s University, Accredited Medical School and Hospital – PRO
  11. Commonwealth Benefits of the Grenada Passport – PRO
  12. Obtain the Grenada Passport Through iGlobal

Pro – Brief History of Grenada CIP

Grenada has a vibrant Caribbean culture shaped by the freed African slaves who inherited the island from the colonial British. Indeed, slavery and many other aspects of Grenada’s history came via European influence.

It all started when Christopher Columbus sighted the island in 1498 and named it Concepción. Although being wary of the fierce Carib Indians who lived there, he wisely chose not to make landfall.

The Caribs remained in control until 1670 when the French Crown seized the island. Subsequently, the British took over in 1762 and remained there until Grenada gained its independence in 1974.

“Grenada” Pronunciations

Grenada has two pronunciations: Gre-naa-da would be the Spanish version, while the English pronunciation would be Gren-nay-da with the long aaa in the center. Both versions are correct, however English is the official language, so the locals pronounce the name of the island accordingly.

“Isle of Spice”

In addition to the English language, another notable colonial legacy that remains on the island is the cultivation of spices such as nutmeg, cinnamon and vanilla. Indeed, it is known as the “Isle of Spice”. Locals say you can smell the spices in the air while walking on the beach.

Grenada Revolution

The Grenada Revolution in 1979 put the island under Marxist control which abruptly ended in 1983 when the US military invaded. “Self governance” and “democracy” in Grenada was restored in 1984 by the US. In addition, one particular legacy of the US invasion had a profound influence on the Grenada passport going forward.

US E-2 Visa

The Grenada Revolution and subsequent US invasion had laid the groundwork for Grenada to enter into a special treaty with the United States government. This agreement, known as the treaty of commerce and navigation or “E-2” treaty makes Grenada citizens eligible for the US E-2 visa.

By making a significant investment of about $130,000 into the US economy, Grenada passport holders can now live and work inside the US thanks to the E-2 status, plus get additional benefits. Learn more about the US E-2 visa below. 

PRO – Grenada Personal Income Tax Rates

As a citizen of Grenada, you may also adopt the tax laws of Grenada. It makes no difference if you acquired the Grenada passport through investment or other means. Rest assured that you are nonetheless a Grenada citizen entitled to the tax benefits. 

International Income Sources

Grenada imposes no international income tax on its citizens. As a result, you can live inside the country tax free if your income is from abroad. In addition, the Grenada passport creates the potential to reside in your country of choice (outside of Grenada) and still benefit.

It is easier than it seems, simply reside in a country which has no income tax, or only imposes tax on locally sourced income. If you manage to do this while taking note of your income sources, you have the potential to be tax free with the Grenada passport.

There are exceptions however, US citizens must still take heed of the IRS. US tax law is based on citizenship alone, not the geographical source of the income.

Learn more about your options in my comprehensive post all about Grenada tax residency. How can you eliminate all income tax? Have a sneak peak at the Grenada income tax rates you will enjoy in the tax table below.  

Type of Income TaxTax Rate
International Income
0%
Locally Sourced Income
0% to 28%
Capital GainsNo Capital Gains Tax
Inheritance Tax
No Inheritance Tax
Wealth Tax
No Wealth Tax

CON – Grenada Tax Documents (TIN, Driver’s License)

The Grenada passport is the first step, it is indeed the most essential document. However, there is more. In order to take advantage of all of the benefits of second citizenship, you need to acquire some supplementary information.

For example, when you open an offshore bank account with your Grenada passport the bank officer will often ask you for evidence of your connection to Grenada such as TIN, driver’s license, street address. It should therefore come as no surprise, they ask the same questions for any passport, not only Grenada.

Be prepared in advance with the Grenada tax identification number (most essential). It is also common for them to request your local ID such as a driver’s license plus evidence of your street address such as phone bill or utility bill.

What you need to factor in is that Grenada requires that you are present on the island to in order to acquire these essential documents. Is this an obstacle for you? It could very well be an issue, depending on where you reside.

So can you stop on a dime and travel to the Caribbean? It is an important consideration to make before committing to the Grenada CIP. Contact me for alternative passport options.

PRO – Get E-2 Visa Eligibility with the Grenada Passport

US E-2 visa eligibility is indeed one unique aspect which is rarely found in a CIP. So it comes as no surprise that it is the most talked about benefit in Grenada.

Therefore, successful applicants will enjoy the option, but not obligation to immigrate to the US. You can qualify for the visa by investing $130,000 into a US business while being a citizen of a US E-2 Treaty country such as Grenada. The benefits are very significant.

Under the US E-2 treaty, you and your family including children under 21 years of age can live and work inside the US. Your children can attend the school of their choice and qualify for instate tuition. Plus your spouse can pursue open market employment opportunities.

Enjoy an initial five year visa term which can be perpetually renewed at two year intervals. Also enjoy income tax benefits inside the US. Why is the Grenada E-2 visa the best option for US immigration? Learn everything you need to know and more in this post.

PRO – Travel Visa Free with Grenada Passport

Global access is essential; this is exactly what the Grenada passport offers. It is an ideal solution for digital nomads, entrepreneurs and trust beneficiaries alike. As a result, you get the best visa free travel benefits and much more.

First, enjoy a visa waiver agreement which Grenada has entered into with China. Therefore, all Grenada citizens enjoy visa free travel to China and vice versa. In addition, those who have invested in one of the qualified local resorts get the benefits of Chinese tourism which adds incrementally to your annual investment yield. This is a significant benefit of investing in government approved real estate to qualify for the Grenada passport.

However, there are also 144 visa free destinations to choose from, not only China. The list includes the entire Schengen area, Ireland, the UK, Singapore, Hong Kong, virtually all of South and Central America and much more.

Also consider that the Grenada passport is politically neutral. When you enter a new country it is free of the stigma that your home country may portray. You will be welcomed instead of scorned, it is an invaluable benefit that lasts a lifetime.   

PRO – Buy Real Estate to get the Grenada Passport

Thanks to a well respected citizenship by investment program, Grenada has attracted the best resort developer in the Eastern Caribbean. As a result, investors can use the best available real estate investment options to qualify for the Grenada passport.

The Grenada government has approved two noteworthy real estate developments in the SE portion of the island near La Sagesse Beach. A $220,000 investment in either property would serve to qualify passport seekers.

Real estate investment comes with several benefits, not only second citizenship from Grenada. Successful applicants can receive a potential 4-5% dividend yield during the holding period. You also have the right to sell the property after the five year holding period to recoup your investment capital while retaining citizenship in perpetuity.

The latest addition for real estate investors to consider is found at InterContinental Grenada Resort. Buy a share in the InterContinental Grenada Resort to obtain the Grenada passport.   

CON – Kimpton Kawana Bay Remains Unfinished

Approved CIP real estate comes with considerable risk. This is especially true for the inexperienced developer which had undertaken to build Kimpton Kawana Bay at the southern end of Grenada’s world famous Grand Anse Beach.

Completion of the property in a timely manner is paramount. Otherwise, there is no collateral to sell to a new investor at the end of the holding period. In addition, it is not possible to obtain any return on the investment. Not to mention, Grenada now has a colossal mess sitting unfinished at the end of their most famous beach.

Fortunately for the investors at Kimpton Kawana Bay, the government allowed them to switch over their investment to Six Senses, La Sagesse. As a result, they can still obtain the Grenada passport with their planned benefits such as right to sell and the investment yield.

Although the alternate investment at Six Senses Grenada is now sold out, a new opportunity just came available at InterContinental Grenada Resort. This new opportunity is approved under the Grenada CIP and the developer is the best in the Eastern Caribbean. Rest assured the property will be completed on schedule.

PRO – CARICOM & OECS Advantages

Most CIP participants in the Caribbean are aware of these benefits. But in case you missed it, I will fill you in. Please note, these perks will greatly enhance your tax residency options in the Caribbean after you become a Grenada passport holder.

First, what are CARICOM & OECS? They are acronyms, CARICOM stands for “Caribbean Community”. OECS stands for the “Organization of Eastern Caribbean States”. Similar to the European Union, CARICOM and OECS have some of the same characteristics as a confederation of governments such as in a federal system.

The main objective of the participating governments is to enhance freedom of movement throughout the Caribbean region, which will in turn stimulate economic growth. Fortunately, Grenada is a member state of both organizations. As a result, a citizen of Grenada has the right to live and work in any other participating member state.

CARICOM BENEFITS

Basically, in CARICOM a Grenada citizen will get 6 months visa free entry on arrival. During this period, obtain what is called a “skills certificate” at the local CARICOM office. With the skills certificate you are entitled to indefinite stay within the participating country.

OECS BENEFITS

OECS is even sweeter. Simply move to the member country where you want to live, no need for a skills cerftificate. For example, if you want to live in St Kitts or Antigua just go there with a local ID card from Grenada such as a driver’s license. It is similar to crossing state lines for US citizens, you are entitled to indefinite stay upon arrival.   

PRO – Exceptional Family Benefits of the Grenada Passport

For many applicants, second citizenship is a family affair. Economies of scale in the Grenada CIP are indeed most apparent for large extended families. As a result, it is the Grenada passport program which is most suitable for siblings, grandparents, parents, plus newborns and also adult children.

If applying for another program, it would be necessary for your sibling or adult child to apply under their own application. The financial burden is too high, so most would not be suitable to serve as the main applicant. Therefore, the Grenada CIP is second to none when it comes to serving large families.

Siblings

The strongest supporting attribute is the inclusive age of dependent siblings. This is especially true for siblings who would normally be excluded under a competing CIP if they were over the age of 25. However, Grenada permits any unmarried, childless sibling of the main applicant (or spouse of the main applicant) who is over 18 years of age to be included on the application. In addition, there is no requirement to be financially dependent.

Adult Children

Adult children of the main applicant (or the spouse of the main applicant) who are under 30 years of age are also allowed on the same application. Or if the adult child is over 30 years of age, but disabled, they can still qualify. In further benefit, there is no need to be enrolled full time in an institution of higher education or to be financially dependent on the parents.

PRO – St George’s University, Accredited Medical School & Hospital

Residents of Grenada and the greater Caribbean are assured of receiving high quality health care at St George’s University (SGU). There is indeed no shortage of medical treatments available for Grenada passport holders at affordable rates.

Established as a private medical school with only 125 students in 1976, SGU has grown significantly with over 7000 students today. Ideally located in the capital city of Grenada, the SGU campus has expanded accordingly, it is spread out over an entire peninsula on 42 acres of land with 65 buildings.

As a medical school graduating the largest number of medical students annually, you would expect SGU to produce a large supply of local doctors. But for eight years running, SGU has also placed the largest number of doctors into residencies at US hospitals, more than any other medical school. This equals over 990 US residencies in 2022 alone.

Economic benefits to the island are significant, plus with 7000 well to do university students from the US, Europe and many other countries it contributes significantly to the cosmopolitan culture around the island.

Furthermore, SGU is a for profit university that is well funded with backing from institutional investors such as Baring Private Equity and Atlas Partners who invested 750 million into the university in 2014. The funds have been used for scholarships and campus enhancements. 

Grenada Passport, St George's University expansion
New facility at St George’s University nears completion in 2021.

PRO – Commonwealth Benefits of the Grenada Passport

As a former colony of the British Empire, Grenada has retained certain benefits for English speakers and those accustomed to the English legal system.

English is indeed the official language in Grenada, but English Common Law also sets the legal framework on the island. A special perk available allows court rulings issued in Grenada to ultimately be appealed to the Judicial Committee of the Privy Council (JCPC) which is located in London, UK. So essentially, investors can receive the protection of both legal systems.

This is a special attribute which is still in effect in Grenada, however the right of appeal to the JCPC has been removed in other Commonwealth countries. Nonetheless, it seems to be staying here. Therefore, if you are unhappy with your ruling in the Grenada courts, you still have the option of higher appeal in London.

Furthermore, Grenada passport holders have the option of obtaining assistance at British Embassies or consulates if your country of citizenship does not have an embassy or consular office located in that country.

Last but not least, Commonwealth citizens can receive preferential access to schools and work visas for their children in the UK. Plus, resident UK tax payers have the right to vote.

Obtain the Grenada Passport Through iGlobal

Learn everything you need to know first before you make a decision about second citizenship. Grenada’s tax benefits can be obtained based on practical experience. The path to eliminate income tax is indeed familiar. I would never ask you to take any risk which would not be successfully overcome. As a result, all of your objectives will be accomplished. Rest assured the cost of your investment will reap significant rewards.

iGlobal will assist you through the entire application process, your approval is all but assured. Be well prepared for your new life offshore. We can assist you to obtain a tax identification number, local street address, bank accounts and much more, not only the Grenada passport. Contact me today and begin your journey to global access and economic freedom.     

Edwin Morgan, Managing Director of Go Global Corporation PTE LTD, DBA iGlobal

Email: [email protected]
Telegram: +60104689761