Bank Account Opening in Grenada

Foreigners and Grenadians living overseas can open a bank account in Grenada. Banks on the island publish separate requirements for non-nationals and overseas applicants, and those requirements are stricter than for residents. A Grenada bank account opening is an application, not a purchase: the bank runs its own anti-money-laundering checks and can decline without giving every reason. We prepare the pack the bank asks for and stay on the application until the bank opens the account or declines it.

Documents banks commonly ask for

The Grenada Co-operative Bank's requirements are a good example of what non-nationals are asked for:

• Two pieces of valid photo ID (one for Grenadian citizens), such as a passport, driver's licence, or national ID card
• Proof of address, such as a recent utility bill, credit-card statement, or bank statement
• Proof of income: pay slips or a job letter if employed, or a year of financial or bank statements if self-employed
• A banker's reference letter
• Your tax identification number, and a social security number for applicants in North America and the United Kingdom
• A cover letter stating the type of account you want and the signing authority of each account holder

When documents are sent from overseas, the signatures on the forms and the copies of ID and letters must be notarised by a notary public. US citizens and residents also complete the FATCA forms. Joint applicants each provide the same documents as the main account holder.

Applying from abroad

The Co-operative Bank lets you start the application online; a representative then contacts you to confirm an appointment. Republic Bank Grenada offers a fully online account opening for nationals, and asks non-resident customers to contact a branch for the extra documents it requires. Because these rules change, we confirm the current list with the bank before you sign or notarise anything.

Account types and currencies

Banks offer savings and chequing accounts in Eastern Caribbean dollars (XCD), which are pegged to the US dollar, and US-dollar accounts are available at some banks. Each account has its own minimum opening balance, set by the bank. Company accounts need the incorporation documents, the registers of shareholders and directors, a board resolution, and identification and references for every director, signatory, and beneficial owner.

Why applications get delayed or refused

• Only one photo ID, when non-nationals need two
• Signatures and copies that were not notarised before being sent from abroad
• A cover letter that does not state the account type and signing authority
• Proof of income that does not cover the funds you plan to deposit
• Missing tax identification number or FATCA forms

Most of these are fixed before submission. That is the main reason to prepare the pack before the bank sees it.

Related to your application

A local account is often opened alongside other paperwork. If you hold or are applying for Grenada citizenship by investment, the bank can ask for your certificate of registration or passport as part of its checks. Our guide on using a Grenada passport to open an offshore bank account explains how the passport is used in KYC. You can browse every Grenada service, including company incorporation, passport renewal, and the police clearance certificate.

• A check of which bank in Grenada will consider your nationality, residence, and planned use of the account
• A document checklist built from that bank's current rules for non-residents
• Review of your passport, second ID, proof of address, references, and source-of-funds papers before anything is sent
• Help arranging notarised or certified copies, apostilles, and translations when the bank asks for them
• Preparation of the bank's application, signature, and tax-residence (FATCA/CRS) forms
• Submission and follow-up with the bank, including answers to its compliance questions
• A clear note in advance if the bank wants a branch visit, a video call, or more documents
• For companies: preparation of the corporate pack (incorporation documents, registers, good standing, ownership chart, board resolution)

1. Brief. Tell us who the account is for (you, your family, or your company), where you live, the currencies you need, and what the account will be used for.
2. Bank match. We identify a bank in Grenada that accepts your profile and confirm its document list, whether it needs a visit, and its opening deposit and fees. You then receive our quote.
3. Document pack. You send scans; we check them, arrange notarised copies, references, or translations if needed, and fill in the bank's forms with you.
4. Submission. The signed forms and certified documents go to the bank, by courier where originals are required.
5. Compliance review. The bank runs its due-diligence checks and may ask follow-up questions about your income, assets, or planned transactions. We help you answer them.
6. Account opened. The bank confirms the account number and you fund the opening deposit. Cards and online-banking access follow on the bank's own timeline.
7. After opening. Keep your details up to date: banks ask account holders to refresh identification and address documents from time to time.

You receive a quote before any filing starts. It separates the CitizenX fee from the bank's opening deposit and charges, notarisation, apostille, translation, and courier costs. Those extras are added only when they apply, and only after you approve them.

Minimum opening deposits and monthly fees are set by each bank and differ by account type, so we confirm them with the chosen bank before you apply.