The EB-5 Immigrant Investor Program is aimed at investors who wish to invest and work in USA. It’s been administered by the United States Citizenship and Immigration Services (USCIS). Under this program, entrepreneurs can apply for permanent residence via green card in return for making stipulated investments. The entrepreneur’s spouse and unmarried children under 21 are also eligible to apply for a green card.
Under the program, the applicant must make a minimum investment of $900,000 in a commercial enterprise in the US. The investor should also plan to create or maintain at least 10 permanent full-time jobs employing qualified US workers.
The investment requirement in Targeted Employment Areas (TEA) has been increased from $500,000 since November 2019 under this program. The investment requirement is from $1 million to $1.8 million for non-TEAs. These have significantly made the EB-5 visa an expensive affair for foreign entrepreneurs trying to work with the US.
Now, they have found a way of using Grenada as a pathway for entering the US. Grenada has an investment treaty (E-2 treaty) with the US. By applying under Grenada Citizenship by Investment (CBI) program, you can get a second citizenship. The investment required is either:
- $200,000 as a non-refundable donation to Grenada’s National Transformation Fund, or
- $350,000 in a real estate project approved by the government
The applicant is also needed to maintain the investment in property for at least 3 years.
Being a Grenada citizen, you will become eligible to apply for the E-2 investor visa of the US. This visa gives the Grenada citizen the right to work and live in the US. You only need to make a minimum investment of $150,000 in an enterprise. The applicant must own 50% of the enterprise and must be able to develop and direct it.
This provision of entering the US via Grenada this way has sparked interest in many entrepreneurs worldwide. It has also decreased people’s interest in the EB-5 visa. There are under 40% of world countries that have the kind of agreement that Grenada has with the US. Turkey is an example of such a country that gives a route to the US.
The processing time for Grenadian citizenship is typically 90 days. As many days are needed for the E2 visa too. This quick processing time is another reason for entrepreneurs to get attracted to this route to get to the US.
To add to the advantages of the route, the spouse of the visa holder can freely work in the US. It also covers dependent children below the age of 21.
There is a key difference between the EB-5 and E-2 programs though. The EB-5 visa is an immigrant visa and gives the option to get citizenship via a green card. But E-2 is a non-immigrant visa and only allows the investor to live and work in the US. The E-2 visa cannot earn the visa-holder a green card.
If you are looking to Study, Work, Visit, Invest or Migrate to the USA, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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