Grenada Offers Pathway to the US for Wealthy Investors
US Visa Backlog Creates More Demand for Grenada Citizenships
Demand continues to grow for access to US markets through visas or permanent residence. Unfortunately for those who plan to apply, the waitlist for an EB-5 can take years.
One way to avoid the backlog is to obtain Grenada citizenship and then apply for an E-2 investor work visa for US entry and residency. Although the US does not provide a direct path to citizenship, it does offer foreign investors with both visa and permanent residence opportunities. The E-2 investor visa through Grenada is a 5-year, indefinitely renewable visa that allows investors and his or her spouse and children to live within the US or visit as much as desired.
This E-2 investor visa option is only available to citizens of countries that are party to a bilateral treaty with the US. Then, E-2 applicants must plan to make a substantial investment within the US. The minimum level of investment isn’t clearly defined but it is generally lower than the investment requirements for an EB-5 permanent residence visa. The bigger issue with EB-5 visas is the waitlist. Due to the popularity of the EB-5 visas and the annual cap on the number of people admitted to the US through this program each year, applicants can often expect to wait for years. The EB-5 program also includes quotas by country. The total number of people allowed through the EB-5 program each year is 10,000. A China investors, for example, currently face more than 10 years on the wait list.
The wait required for citizens of many countries that lack access to the E-2 visa option has increased the demand for second citizenships in countries that are party to bilateral investment treaties with the USA. Currently Grenada is the only country to have both a bilateral investment treaty with the US and a Citizenship by Investment Program (CIP). This has made citizenship in Grenada a particularly desirable option for investors from around the world.
The Grenadian Citizenship by investment program commenced in 2013. It requires an investment of as little as $150,000 in non-refundable government contribution, or real estate investment commencing from $350,000, for a period of 3 years.
Benefits of Grenada citizenship by investment include:
- Visa free and visa on arrival travel to over 130 countries (including EU, United
Kingdom, Singapore, Hong Kong and China);
- Processing time 3-4 months;
- Children under 30 years old and parents over 55 years old may be included as well
as siblings of the main applicant and spouse, who are not married and do not have children;
- No residence requirements;
- Grenada is the only Caribbean country with a citizenship by investment program which holds an E-2 Visa Treaty with the US, allowing citizens to apply for a US non-immigrant.
Astons is a leading global immigration advisory firm with offices in London, Moscow, Dubai, Cyprus and China and offers residency & citizenship investment solutions in the UK, EU & the Caribbean.
For further information on Grenada citizenship by investment or other Caribbean or EU citizenship programs or to discuss your personal circumstances in a private consultation, please contact Astons at info@astons.com or call +44 207 292 2977.
