Grenada Alternative to USA EB5 Delays

The popular USA EB5 Investor Visa is now experiencing allocation delays for certain countries. The EB5 visa is limited to a maximum of 7% from any one country and 10,000 applicants per year. Over-subscribed countries can use up any balance from under-subscribed countries. But now, while it is so popular any unsubscribed balance is limited, causing backlogs for the most popular countries.

The EB-5 delays are mostly effecting Chinese, Indian and Vietnamese applicants with waiting time currently up to 14 years for Chinese applicants, 7 years for Vietnamese and over 5 years for Indian applicants. Other countries have no waiting time as they fall below the 7% threshold each year.

Whilst the EB-5 retrogression dilemma continues, many potential applicants are searching for alternative ways in which they can gain US residency through investment.

An alternative programme which is becoming increasingly popular is the E2 Investor Visa. To apply, applicants must be citizens of a country which already holds a E2 Visa treaty with the USA. India and China are two countries that are excluded from E2. However, by first becoming a citizen of Grenada, applicants can then apply for the E2 Visa programme. Grenada holds an E2 treaty with the USA and is not limited with the current retrogression.

The E2 visa lasts initially for 5 years and can be renewed every subsequent 5 years, providing the visa holder complies with the rules. To obtain an E2 visa, applicants must make a “significant investment” into a US business. Significant, meaning at least a 50% interest and the business investment can be as little as $120,000 into a franchise, for example.

To gain both Grenadian Citizenship and US residency, applicants would be looking at a total investment of approximately $500,000 + costs, investing approximately $220,000 in Grenada and another $120,000 in the US (plus fees in both countries). So not only is the E2 visa a far quicker route to US residency for many nationalities, it is also achievable at a comparable cost to the EB-5 programme, which is currently set at $500,000. The entire process could be completed in  6-12 months.

For more details on the Grenada Citizenship by Investment Programme and the E2 option, please contact our team.