History
Grenada joined the Caribbean CBI club later than its neighbours: the current program runs under a 2013 act. It carved out a special place thanks to one detail — the investment treaty with the United States (E-2 treaty), in force since 1989. No other Caribbean program has it, and it defines what the Grenadian passport is most often bought for: access to the American investor visa. The second trump card is visa-free China (30 days, since June 2015) — though no longer unique to the region: Dominica has the same access, and Antigua & Barbuda since May 2024, while St Kitts and St Lucia do not. What stays unique is the pairing of E-2 with that Asian leg. In 2026 Grenada added a third distinction: St George's hosts the headquarters of the regional regulator ECCIRA.
Investment Options
Two routes, plus an invitation-only track. The non-refundable contribution to the National Transformation Fund (NTF) — from US$235,000 for an applicant or a family of up to four; each further dependant from +$25,000 (up to $50,000–75,000 for parents and siblings). Real estate — from $270,000 as a co-investment in an approved project plus a $50,000 government fee; the property is held five years, and its "CBI status" can pass to the next buyer only after that period. Since 2026 there is also an invitation-only route for large capital (in partnership with Arton Capital) with a 3–4-month fast track for investors in priority sectors.
Fees and the All-In Cost
Grenada's fixed fees are among the region's most transparent: application $1,500 per adult ($500 per child), processing $1,500/$500, due diligence $5,000 per person 17+, passport $350/$250, oath $500 each. All-in, a single NTF applicant lands around $244,000, a family of four — about $255,000 plus professional support. Filing goes through a licensed agent only.
Family
The family scope is broad: spouse, dependent children under 30, parents and grandparents of any age if financially dependent, and unmarried, childless siblings 18+. Newborns are added post-approval for a modest fee.
Process and 2026 Timelines
The industry-measured average is about 7 months (range 4–9). The interview is mandatory for everyone 17+, conducted remotely; biometrics are being introduced under the regional rules. The statistics are telling: in 2024 the program processed a record 1,676 files while new applications fell 81% — and by late 2025 intake had recovered (+122% in a quarter), with the rejection rate rising to ~14% against a historical 8% (an industry estimate: COM(2025) 792 discloses no refusal rate for Grenada). Vetting has hardened — a clean source of funds decides the outcome more than ever.
The US E-2 Visa
Grenada is the only Caribbean CBI country with a live E-2 treaty with the US (1989). The E-2 visa lets you live in the States and run your own business there for as long as the investment operates, without a separate immigrant status. Historically the Grenadian passport opened the E-2 path almost immediately — the rules are stricter now: under NDAA FY2023, citizens who acquired nationality by investment must have been domiciled in the treaty country for at least three years before applying, and domicile is judged by real ties rather than day counts. The "passport → E-2" route still works, but it is planned with a time buffer and genuine presence in Grenada. The current treaty-country list is maintained by the US State Department.
Equally important is what did not happen to Grenada: the US proclamation of 16 December 2025 (partial visa restrictions over CBI) covered Antigua and Dominica — Grenada stayed off the list and kept ten-year B1/B2 visitor visas.
The Depreciation Horizon: What It Means for Grenada
Grenada looks cleaner than its neighbours on the American track, but on the European one it sits in the same list as the rest: it is one of five addressees of the demand that CBI be wound down by 1 June 2028, and the shape of that demand — the Commission's letter, the legal machinery of a visa-free suspension and the Commission's figures — is set out in Caribbean CBI and the 2028 deadline. Grenada's own specifics are two things, and both concern what did not happen to it. First, the US proclamation of 16 December 2025 (Proclamation 10998, 90 FR 59717, effective 1 January 2026) covers only Antigua and Dominica — Grenada is not on it, keeps ten-year B-1/B-2 visitor visas, and its 1989 E-2 treaty belongs to a separate legal track that does not follow from the EU letter at all. Second, the Commission discloses 2024 refusal rates for three countries only and Grenada is not among them — the ~14 per cent that circulates in industry compilations is not official European statistics. The European deadline, meanwhile, is addressed to all five equally, with no discount for a clean record, and citizenship already granted is not revoked: what depreciates is visa-free access, not the status.
The Regional Regulator (ECCIRA)
In 2024 the five agreed the $200,000 floor, mandatory interviews and reinforced vetting; in September 2025 the ECCIRA agreement was signed, with headquarters in Grenada's St George's. The authority becomes operational on the thirtieth day after the deposit of the fifth instrument of ratification. All five states have now enacted implementing legislation (St Kitts — Act No. 24 of 2025; Antigua — Act No. 18 of 2025), yet as of August 2026 no official notice of the fifth deposit has been published, and the agreed 30-days-in-five-years presence requirement is therefore not yet in force as law. Practitioners and Antigua's PM Gaston Browne expect the launch in September 2026 — an estimate, not an announced date. Once ECCIRA launches, Grenada as host country sits at the centre of the new oversight: common due-diligence standards, escrow, a shared denials database.
Taxes in Grenada
Grenada runs a territorial system: foreign-source income is not taxed; only income earned inside the country is. There is no capital gains, inheritance or wealth tax. Tax residency arises after 183 days of presence; citizenship alone does not create it.
Visa-Free Access
Per the Henley 2026 index the Grenadian passport ranks 27th with about 147 destinations: the UK (with ETA), Schengen (ETIAS from late 2026), China (30 days), Hong Kong, Singapore and Russia. The blend of Western and Asian markets is rare for the Caribbean. The systemic risk is shared: since 30 December 2025 a CBI program is formal grounds for suspending Schengen visa-free access, and by letter of 25 June 2026 the European Commission required the five to wind down their programmes by 1 June 2028 — set out above, under the depreciation horizon. For a second passport as insurance that is an argument against building all mobility on a single document.
Typical Mistakes
- Planning E-2 "right after the passport". Three years of Grenadian domicile is the real-world requirement after NDAA FY2023; the route is built in advance.
- Budgeting without the fees. Application, processing, DD, oath and passport add ~$9,000–20,000 to the headline depending on family size.
- Buying CBI real estate as an investment — the five-year lock-up, the $50,000 government fee and the thin secondary market make it the price of a passport.
- Underestimating the tightening: rejections are up to ~14%, the interview is mandatory from 17, and source-of-funds checks run deep.
- Ignoring the US tax side of an E-2 relocation — US residency means worldwide taxation.
Place in the Flag System
In the Five Flags system this is Flag 1 — citizenship and the second passport — with a visible extension toward Flag 5: E-2 opens legal presence in the US. The passport does not affect tax residency by itself, but moving to the States on E-2 does engage American tax rules — those are calculated in advance.
Q/A
I have the Grenadian passport in hand. Can I file for the E-2 visa now?
Not yet. Under the NDAA for FY2023, anyone who acquired treaty-country nationality through investment must first have been domiciled there for a continuous three years, and domicile is judged on real ties rather than a day count. The passport creates the treaty nationality; it does not create a right to the visa, which is assessed separately on the investment and your control of the business.
Is the USD 235,000 contribution the whole budget?
No. Application and processing fees, due diligence at USD 5,000 for every applicant aged 17 and over, the passport fee and the oath sit on top and add roughly USD 9,000 to 20,000 depending on family size. On the real estate route a separate USD 50,000 government contribution applies. Filing goes only through a licensed agent, whose work is charged separately again.
Can CBI real estate be resold later at a profit?
Treat it as the price of the passport rather than an investment. The minimum is USD 270,000 in an approved project plus a USD 50,000 government contribution, the property is held for five years, and its CBI status passes to the next buyer only after that period. The secondary market is thin and the buyer pool is largely other applicants.
The EU wants these programmes closed by 1 June 2028. Do I lose the citizenship?
No. Citizenship already granted is not revoked when a programme closes, and files in process are completed under existing rules — what depreciates is visa-free access, not the status. Since 30 December 2025, under Regulation (EU) 2025/2441, running an investor citizenship scheme is in itself a ground for suspending Schengen visa-free travel, however cleanly it is run.
Does a Grenadian passport make me tax resident in Grenada?
No. Tax residence there follows presence — more than 183 days — and citizenship alone does not create it. Grenada runs a territorial system: foreign-source income is untaxed, only income earned inside the country is, and there is no capital gains, inheritance or wealth tax. The tax consequences that actually bite come from moving to the US on E-2.