Personal accounts: Grenada

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

With a Grenada passport people usually want one of two things: an account at a bank in Grenada itself, or an account in another country using the Grenadian passport as ID. These are different processes, and in the second one the passport helps less than it seems: a bank identifies a client not by passport but by place of residence and tax residence.

An account at a bank in Grenada

Banks in Grenada are supervised by the Eastern Caribbean Central Bank, which regulates banks in eight island states, issues the Eastern Caribbean dollar and protects deposits, according to the central bank. The Eastern Caribbean dollar has been pegged to the US dollar at 2.70 per dollar since 7 July 1976, so there is almost no currency risk for dollar settlements, according to the Eastern Caribbean Central Bank. Accounts are opened in Eastern Caribbean and US dollars.

For a non-resident the bank usually requires a personal visit and asks for a passport, proof of address, references and detailed proof of source of funds. New Grenadian citizens go through the same checks: the passport does not replace an explanation of where the money comes from and why an account on the island is needed.

An account abroad with a Grenada passport

• Tax residence does not change. The bank completes a self-certification for the automatic exchange of tax information and asks where you live and pay tax. A Grenada passport does not by itself make you a Grenadian tax resident.
• All citizenships must be declared. A concealed second citizenship is grounds for refusal, or for closing the account if it comes to light later.
• Enhanced checks. Banks look more closely at holders of passports obtained by investment to make sure tax residence is stated correctly.
• Sanctions rules follow the first citizenship. If you also hold Russian citizenship, EU banks apply the ban on deposits over EUR 100,000 under EU Regulation 833/2014 unless you have EU citizenship or an EU residence permit. A Grenada passport does not change that.

When an account in Grenada makes sense

An account on the island is worth it if you have real costs or income there: property bought under the citizenship programme, rent, local bills. For everyday payments, salary and savings, an account in your country of residence or in a major financial centre is usually more convenient: such banks handle international transfers more readily, and a Grenada passport there is simply another document.

What documents you need

Passports of all citizenships, proof of address where you live, a tax number from your country of residence, proof of source of funds and a description of what the account is for. For a bank in Grenada, add references and, as a rule, a personal visit.

Why banks refuse

• The client claims tax residence in Grenada without living there.
• The first citizenship is concealed.
• The source of the funds used to obtain citizenship by investment is not proven.
• The account's purpose has no link to the bank's country.

What we do

Murblz specialists work out where you are tax resident and which country's account will do the job, match a bank, complete the tax residence self-certification correctly, prepare proof of source of funds and handle communication with the bank until it decides. The decision always rests with the bank. We will quote the fee after a short consultation.

What we do

• Personal account - opening assistance

See also

Business account · Investment property · All country programs

FAQ