How Grenada citizenship helps run a business in the US and travel during the pandemic

Samuel is an entrepreneur from Cape Town, South Africa. He owns a network of pharmaceutical companies which supply medicines and medical equipment to South Africa from abroad, including supplies to government departments.

The burden on businesses has increased since the start of the pandemic. As countries began closing their borders, medical supplies were delayed. These circumstances required Samuel to solve two tasks at once.

1. Travel internationally during the Covid‑19 pandemic. Samuel was looking for new partners to supply the required amount of medicine on time. To arrange this, he needed to hold meetings with partners abroad: in Germany, Switzerland, England, and the US. But due to the current quarantine, the consulates of many countries were closed, and he could not obtain visas.

Grenada citizenship by investment program

2. Open a branch in the United States. The factories of many international pharmaceutical manufacturers are located in the United States: Pfizer, Gilead Sciences, Johnson & Johnson, and others. American research centres have been creating innovative products for cancer treatment and other rare and severe diseases. They have recently launched the development of vaccines against coronavirus.

With its own branch in the United States, Samuel’s company will be able to communicate directly with the manufacturers, monitor the results of clinical trials and be among the first to supply new products to South Africa.

As a citizen of South Africa, Samuel was eligible for an EB‑5 visa to the US. This visa required at least $500,000 of business investment, but, in our practice, they often increased to about $1 million. The application was considered for 1.5—2 years, and there were more delays due to the Covid restrictions.

We suggested that Samuel consider another option: applying for an E‑2 investor visa. One must also make a business investment to get this visa, but the minimum threshold is not set. In our experience, investors spend $100,000+. A 5-year business plan is required as well.

It takes 2—5 months to obtain an E‑2 visa, but the application will be considered within 15 days if you pay an additional fee.

The E‑2 multiple-entry visa is issued for five years. It is extended if the business generates income. During the visa validity, the holder can repeatedly enter and leave the United States, as well as live, work, carry out business and study there.

One caveat: not everyone can apply for an E‑2 visa. South Africa is not on the list of eligible countries, though there is a way out: the investor can obtain second citizenship first.

Yulia Veremeva,

Director of Partnership Development, certified IMC specialist

This only sounds more complex. In reality, getting a second passport followed by an E-2 visa can be less expensive and less time-consuming than obtaining an EB-5 visa alone.

Second citizenship also opens up the opportunity for visa-free travels, which is right what Samuel needed.

Three citizenship by investment programs opened up the opportunity to get a US E‑2 visa: Grenada’s, Montenegro’s and Turkey’s. Let us compare the programs’ terms.

Samuel chose the Grenada program, as it could solve all his tasks at once. The Montenegro and Turkey programs required a larger investment but provided fewer opportunities.

The Grenada CBI program offers two investment options: making a non-refundable contribution to a state fund and purchasing government-approved real estate. The total expenses depend on the family composition.

Samuel planned to include his wife and three children in the application, so we calculated the cost of participation for a family of five: spouses and their three children of 4, 14 and 17 years old. The investor opted for the less expensive option — a fund contribution.

Before signing the Services Agreement with Immigrant Invest, Samuel hesitated. The investor was worried whether he would be able to use his second passport while the borders were closed, and we outlined the situation for him.

Grenada passport holders can travel the world during the pandemic in compliance with the laws enforced. It may be necessary to do a paid PCR test and to quarantine on arrival. International travel is permitted in the following situations:

Samuel applied to Immigrant Invest in the midst of the pandemic, but that was not a problem. An application for the Grenada citizenship program can be completed remotely without visiting the country.

Collecting documents. Immigrant Invest’s lawyers collected the documents required for the application in two weeks. For this, the investor provided the following records:

• copies of passports;

• certificates of no criminal record;

• marriage certificate;

• birth certificates of children;

• medical insurance;

• a receipt for payment of application, processing and Due Diligence fees.

The lawyers certified the copies of passports and certificates and completed government and application forms on behalf of Samuel. They also conducted a complete wealth analysis of Samuel’s income sources to confirm their legality.

Applying. When the package of documents was ready, the lawyers submitted the application. The Grenada CBI unit started to run the Due Diligence check on Samuel, and it took them 3 months to take a positive decision.

Investing. As soon as Samuel’s candidacy was approved, he transferred the contribution amount to the account of the relevant department in Grenada. Due to the foreign exchange control effective in South Africa, the investor used his account in a Swiss bank for that purpose.

Receiving passports. Samuel and his family received their naturalisation certificates and passports by courier on September 6th, 2020, exactly 5 months after contacting Immigrant Invest. Samuel also paid the fee of $250 per passport.

5 months and $253,250 were spent by Samuel to get Grenada citizenship

1

April 6th, 2020

Samuel turned to Immigrant Invest

2

+ 2 weeks

Collecting documents, applying$27,000

3

+ 3 months

Waiting for the application to be considered and approved

4

+ 2 weeks

Investing$225,000

5

+ 1 month, September 6th, 2020

Receiving passports$1,250

1

April 6th, 2020

Samuel turned to Immigrant Invest

2

+ 2 weeks

Collecting documents, applying$27,000

3

+ 3 months

Waiting for the application to be considered and approved

4

+ 2 weeks

Investing$225,000

5

+ 1 month, September 6th, 2020

Receiving passports$1,250

Samuel started preparing his business plan for a US E‑2 visa while his citizenship application was processed. As soon as he received a Grenada passport, he filed a visa application. And two months later, it was approved.

In December 2020, Samuel opened his branch in California near the headquarters of Gilead Sciences, a famous biopharmaceutical company in the United States.

Since receiving his second citizenship, Samuel has travelled abroad eight times to meet his international partners: first to Germany and Switzerland and then to the UK. He also flew to California to check how the new branch was operating.

Samuel and his wife are also considering sending their children to study abroad. They are looking at universities in Britain and the States for their eldest daughter and private schools for the two younger children. As citizens of Grenada, Samuel’s children are eligible to apply for scholarships to British educational institutions.

The couple has decided not to be rushed into making a decision. When the pandemic is over and educational institutions resume receiving visitors, the family will travel to Britain. They want to learn more about summer schools, talk to the teachers and choose the right place for their children to continue their education.

Immigrant Invest is a licensed agent for government programs in the European Union and the Caribbean.