Migration to the United States: obtaining a visa through Grenada

7 reasons why the E2 visa will be the next big thing in migrating to the US from 2021

2020 is not a good year for new trends. It's a year with no business, no travel, no fun. The global pandemic has slowed immigration to and from everywhere. However, many entrepreneurs around the world are just preparing for the next “big move” - perhaps a move to the United States.

Statistics released last week showed that fiscal year (FY) 2019 was the third best year in history for the E2 program in terms of total visas issued. Due to the lengthy and extensive U.S. consulate closures this year, FY 2020 (which will end on September 30 this year) is unlikely to be a success, but it now looks like the trend for E2 visa issuance in FY 2021 is gaining momentum. Due to a confluence of events in many signatory countries, the E2 visa may become one of the most popular visa options in the next 12-18 months.

Below, I have outlined seven specific reasons why I predict the E2 visa will gain momentum in FY 2021:

No. 1 - Mexicans: longer E2 visa validity and the AMLO factor

During 2021, the number of E2 visa applicants to Mexico is likely to increase. The presence of a president who has been described (several times) by potential clients as one who is trying to turn Mexico into Venezuela is prompting more Mexican HNWIs to try to salvage some of their wealth and diversify their options. The E2 visa is great for many of those interested in moving to Miami, Florida or Texas, where San Antonio and Austin seem to be the most popular options.

What's more, the validity of the E2 visa for Mexican nationals has just been extended to four years. (Prior to this extended term, until two weeks ago, Mexican citizens had to renew their visa annually. Now they have four years before an extension is required).

No. 2 - Canadians: upward trend for 10 years in a row

Canadian E2 visa applicants will continue to apply for E2 visas in large numbers. Canadian participation in E2 has grown for ten consecutive years without exception. As pointed out in an article last week, the trend of Canadians applying for E2, perhaps ironically, has accelerated significantly during the Trump years, and the number of E2 visas issued to Canadians in 2019 was nearly four times the number issued in 2010.

Many Canadians are deciding to move to the U.S. because of weather conditions, and weather conditions in the southern states are not going to change anytime soon. Additionally, while the U.S. had many COVID-19 cases, it also had one of the most active economies in the world throughout the pandemic with a relatively short and narrow economic shutdown. For those who were completely shut down for a few months and for those with an entrepreneurial spirit, the US is still a great option.

No. 3 - Smaller countries will increasingly participate in the E2 visa program 

The economies of many countries were affected by the pandemic. Indeed, no country has been left untouched. However, the United States, because of its sheer size and the diverse composition of its various state-level economies, is likely to be less affected by the recession than smaller economies. While the U.S. as a whole will undoubtedly be economically affected by the pandemic, individual states will be asymmetrically affected.

No. 4 - Brexit and the COVID recession will drive applications by British people

The number of E2 visa applicants to the UK will increase. We expect that due to Brexit, the COVID-induced downturn and a strong currency, more UK entrepreneurs will invest in the US. The number of applicants has always been high, but there has been an upward trend over the last two years, reaching 3,253 applications in FY 2019, a record high.

No. 5 - Security is good, but freedom is better

Everywhere, people want to “get out.” Regardless of where their “here” is, people want to escape. Staying home for a few months has led to many people (entrepreneurs in particular) wanting to escape. The American capitalist ethos, along with news that some US states are showing much less restraint in closing businesses, is and will continue to attract more business owners to the largest capitalist economy in the world.

No. 6 - What's bad for EB-5, good for E2

“regression,” E2 is taking more market share away from EB-5 every year as investors increasingly recognize that E2 can be a viable alternative if you don't mind physically relocating.

Despite years of lobbying efforts and attempts by some elements of the legislature, regression has not been eliminated. The EB-5 program is still capped at 10,000 visas. Not only do waiting periods of more than a decade remain unresolved, the price of EB-5 also nearly doubled last year, from a minimum of $500,000 to $900,000.

Absent drastic regulatory or legislative changes, a large portion of those investors who might otherwise choose EB-5 will seek the alternatives that E2 has to offer. Sometimes this move takes the place of EB-5, but in many cases this immigration strategy is done in tandem with EB-5.

No. 7 - E2 is now one of the few viable options for those who want to work in the United States

With L1 and H1B visa options now off the table, the E2 prevails. As we already know, President Trump has suspended certain work visas used by many around the world - L1 visas and H1B visas - until at least December 31, 2020. As a result, those looking to move to the U.S. for work are limited to only a few options, the simplest of which is the E2 visa.

These trends tell us that the E2 is the next big thing in U.S. immigration.

Obtaining an E-2 visa to the U.S. through Grenada citizenship

The United States of America created its most powerful economy in the world with the help of immigrants' money, intelligence and hands. The trend has continued to this day - the State Department has registered several investment programs through which one can obtain long-term business visas to live and work in the freest and richest country in the world.

Among them is the E-2 non-immigrant visa, which until recently was not too popularized by the migration services. And there are several reasons for that.

E-2 visa against its competitors

E-2 seemed not so attractive for the reason that the United States issued it only to citizens of those countries with which a special Agreement on Cooperation, Trade and Navigation was signed. These are not all the countries of the world, and if we talk about post-Soviet countries, there are no Russia, Belarus and Uzbekistan among them.

Traditionally, the greatest success among wealthy foreigners was the EB-5 immigrant visa, which allows you to issue a Green Card of a US citizen.

But in 2019 the conditions for obtaining it have undergone important changes: firstly, the investment threshold has increased significantly; secondly, the terms of obtaining the card have increased (for some Asian countries the waiting time can last up to 15 years!).

Against this background, the conditions for obtaining an E-2 visa began to look very attractive.

But what about restrictions for residents of those countries with which the U.S. has not signed an agreement?

Probably - to obtain a second citizenship in the beneficiary country of such an agreement!

And here we suggest to pay attention to the Caribbean.

Grenada is an excellent option for a pass to the USA

Among the Caribbean island states that gained independence from Britain in the middle of the last century, Grenada is characterized by a developed economy, good infrastructure and remoteness from the zone of destructive hurricanes that often visit the region. Together with membership in the Commonwealth of Nations of Great Britain, which gives its citizens a number of economic and legal advantages, political neutrality, excellent climate, such characteristics serve as good indicators for the expediency of obtaining a passport of this country.

With it you will be able to visit EU and Schengen countries, as well as Great Britain, China without a visa. 

But the main advantage is the conclusion of the Agreement on Cooperation and Trade with the United States, which allows citizens of Grenada to apply for an E-2 visa. No other Caribbean country trading citizenship has such a preference.

Theoretically, Montenegro and Moldova can compete with Grenada, but the conditions for granting E-2 there are worse, and the programs themselves are temporary and are not in high demand.

How can one obtain citizenship of Grenada?

The investment program of this country offers a potential investor 2 options of financial investments to choose from:

• non-refundable contribution to the national Transformation Fund - from 150 thousand dollars;
• purchase of government-approved real estate in the amount of 220 thousand dollars;

Real estate can be sold after 5 years, retaining citizenship for life.

The term of registration of citizenship of Grenada for investments - within 3-5 months. Attention should be paid to the extensive range of relatives who can apply for citizenship. In addition to children, parents and ancestors, even siblings of the applicant are entitled to citizenship.

How to issue an E-2 visa in the status of a citizen of Grenada?

In order for the American side to consider the application, it is necessary to make financial investments in your own business in the United States. The amount is not strictly outlined, but in practice it is not less than 100 thousand dollars. Of course, the applicant preliminarily submits a business plan and must document the legal origin of the invested funds.

Another important condition: at the end of the visa term (and it has a different time period for the representative of one or another country), the businessman must extend it or leave the United States.

The E-2 visa can be issued within 2 months.

If a number of conditions are met, the main one being the success of the business - you can try to convert it to an EB-5 visa leading to citizenship.

The chart below is an eloquent indication of the increasing number of E-2 visas issued to aliens through Grenadian citizenship.

Dynamics of E-2 visa processing with a Grenadian passport

Eligibility of the investor's relatives for E-2 visas The second spouse and children under the age of 21 are eligible. The spouse can legally be employed anywhere, while the investor is required to work only in the investment business.

Children receive free secondary education, and then can enter universities on a budget (subject to permanent residence in the country).

Joint ownership of a business in the status of E-2 visa holders by two related families (e.g. brothers) is allowed.

Tax residency is a sore point....

Since the E-2 is a nonimmigrant visa, it does not automatically make the investor a resident. He will be required to pay taxes on his foreign income if he spends more than 122 days a year in the United States. In each specific case, this issue requires expert advice. We advise you to contact the specialists of GARANT.in, who will provide professional assistance at all stages of the procedure of obtaining Grenada citizenship and E-2 visa.