Our client Evgeny wanted to open a branch of his pharmaceutical company in the United States. This required him to get an E2 US business visa, which is difficult to obtain for citizens of a number of countries.

We give a brief account of how Immigrant Invest helped him get Grenada citizenship by investment in just six months. Evgeny’s second citizenship allowed him to open a company in the United States and travel freely for business meetings in Europe and the United States, despite the travel restriction imposed by the Covid-19 pandemic.

Our client: a businessman from Russia

Evgeny, 47 years old

Owner of pharmaceutical companies, lives in Moscow with his wife and three children
Client's name and photograph have been changed

Client’s circumstances and goals

Evgeny owns a network of pharmaceutical companies. They supply medicines and medical equipment to Russia, including supplies to government departments, from abroad.

The burden on businesses has increased since the start of the pandemic in March 2020. As countries began closing their borders, medical supplies were delayed. These circumstances required Evgeny to solve two problems at once:

✈️ Travel internationally during the Covid-19 pandemic. Evgeny 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 and Britain.

When Evgeny had applied for a business visa before the pandemic, he had had to ask for an invitation from his foreign partners for each visa. Due to the current quarantine, the consulates of many countries were closed and it became impossible to obtain a visa.

Open a branch in the United States. The factories of a number of international pharmaceutical manufacturers are located in the United States: Pfizer, Gilead Sciences, Johnson & Johnson and others. American research centers have been creating innovative products for the treatment of cancer, as well as cardiovascular, rare and serious diseases.

With its own branch in the United States, Evgeny’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 Russia.

On April 6, 2020, Evgeniy applied to Immigrant Invest. He wanted to know if a second citizenship or a residence permit could help resolve his problems.

New medicines appear almost every day, and we need to know about everything. With the pandemic, work has increased, we have to expand our partnership network. How can this be done if it is impossible to travel outside Russia?

grenada-passport-for-pharmaceutical-business
Evgeny decided to find a way to travel abroad despite the closed borders

Choosing an investment program

Immigrant Invest’s lawyers analyzed Evgeny’s situation in order to find a suitable investment program.

Павел Решетников - Иммигрант Инвест
Pavel Reshetnikov

Compliance Anti Money Laundering Officer

  • Conducted a preliminary Due Diligence check
Юрий Мурашко
Yuri Murashko

Expert analyst of investment programs

  • Selected suitable investment programs
  • Explained the programs’ possibilities and options
Yulia Ostapenko

International and economic law lawyer

  • Compiled a list of documents required for participation in citizenship by investment programs
  • Conducted a preliminary Due Diligence check
  • Selected suitable investment programs
  • Explained the programs’ possibilities and options
  • Compiled a list of documents required for participation in citizenship by investment programs

Two citizenship programs selected. The Grenada and Montenegro citizenship by investment programs were found to be suitable for Evgeny.

Citizens of these countries can apply for an E2 US business visa, which is available to citizens of only a few select countries, including Grenada. To get it, the candidate draws up a 5-year business plan and invests in the development of their company in the United States. As a rule, an investment of $200,000 to $300,000 is sufficient.

The E2 multi-entry visa is issued for five years. It is extended if the business generates income. During the validity of the visa, the holder can repeatedly enter and leave the United States, as well as live, work, carry out business and study there.

$150,000+
Non-refundable contribution or purchase of real estate

€350,000+
Non-refundable contribution and purchase of real estate

Why Evgeny chose the Grenada program

Cost. Evgeny was going to participate in the program together with his wife and three children. We calculated and compared the family’s participation cost for each program. The total cost included investment, Due Diligence fees and other fees. To calculate the costs of the Grenada program, we took the option of a non-refundable contribution.

Costs of citizenship by investment programs for the family

Costs of citizenship by investment programs for the family
Cost calculation for a family of five: an investor with a spouse and three children, 4, 14 and 18 years old. For convenience, we have presented both amounts in US dollars

The graph shows that participation in the Montenegro program would cost the investor twice as much.

Visa-free travel. Montenegro passport holders can travel without a visa to fewer countries than Grenada passport holders. In addition, it is possible to travel to the UK and China without a visa with a Grenada passport, but not with a Montenegro passport.

Visa-free countries for Montenegro and Grenada citizens

Country Passport
Montenegro
Passport
Grenada
The Schengen countries + +
The UK +
China +
Singapore + +
Hong Kong + +
Total number of countries 124 144

How to travel around the world with a Grenada passport during the Covid- 19 pandemic

Evgeny was worried whether he would be able to use his second passport while the borders were closed.

Evgeny decided to get a Caribbean passport through the option of making a contribution to the state fund. He entered into an agreement with Immigrant Invest to participate in the Grenada citizenship by investment program.

Caribbean passport holders have been traveling throughout the world even during the pandemic. International travel is permitted in the following situations:

  • travel to Grenada: a citizen has the right to return to their country of citizenship at any time;
  • business trips to the Schengen area and the UK — which is what Evgeny needed;
  • reunification with relatives who live abroad, for example children studying in another country;
  • traveling for studies or medical treatment.
Yulia Ostapenko

Head of the legal department of the Moscow office of Immigrant Invest

Second passport in 5 months

An application for the Grenada citizenship program can be completed remotely without visiting the country. The procedure takes place in four stages.

1
Collection and submission of documents to the department dealing with citizenship applications
2
Due Diligence check by the relevant government department
3
Approval and transfer of the applicant’s contribution
4
Receiving a certificate of naturalization and passport by courier
1

Сбор и подача документов в департамент программы

2

Проверка на благонадежность в департаменте программы

3

Одобрение и перевод взноса

4

Получение сертификата о натурализации и паспорта по почте

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

  • copies of passports
  • certificates of no criminal record
  • marriage certificate
  • birth certificates of children
  • medical insurance
  • a receipt for payment of Due Diligence check
Immigrant Invest’s lawyers certified the copies of passports and certificates. They also completed government forms and application forms on behalf of Evgeny. Our lawyers also compiled a history of Yevgeny’s Due Diligence check to confirm the legality of his income, which will be used for the citizenship by investment application.

Due Diligence. The due diligence check undertaken by the government department lasted four months. Evgeny’s application was approved without additional information requests from the department.

4 months

for the government’s Due Diligence check

Payment of the contribution. Evgeny transferred the amount of the contribution to the account of the relevant department in Grenada and paid the passport fee as soon as his candidacy was approved.

Naturalization certificate and passport. Evgeny and his family received their naturalization certificates and passports by courier on September 6, 2020, exactly 5 months after contacting Immigrant Invest.

Cosmopolitan life with a Grenada passport

Grenada citizenship by investment to run a business in the USA

The US branch of Evgeny's company is located in Foster City, California

Grenada citizenship by investment to travel visa-free in Switzerland

With a Grenada passport, Evgeny traveled to Basel to meet representatives of Hoffmann-La Roche, one of the largest Swiss manufacturers of medicines and diagnostics equipment

Grenada citizenship to study in universities in the UK

Queen Mary University in London is one of the British universities that offer scholarships for applicants from Grenada

Grenada citizenship by investment to run a business in the USA
Grenada citizenship by investment to travel visa-free in Switzerland
Grenada citizenship to study in universities in the UK

Evgeny started preparing his business plan in anticipation of obtaining an E2 visa to the United States. As soon as he received Grenada citizenship, he immediately applied for an E2 visa. A month later, his visa application was accepted and Evgeny was given permission to open a branch in the United States.

Evgeny opened his branch, located near the headquarters of Gilead Sciences in California, the largest pharmaceutical company in the United States, in December 2020.

Since September, Evgeny has traveled abroad eight times to meet his international partners: first to Germany and Switzerland, and from there to the UK. He was able to travel internationally with ease with a Grenada passport, in compliance with the laws enforced on international travel during the Covid-19 pandemic. After receiving a US visa, Evgeny flew to California to check how the new branch was operating.

Evgeny and his wife are also thinking about sending their children to study abroad in 2022. They are looking at universities in Britain and the United States for their eldest daughter, and private schools in these countries for the younger children. As citizens of Grenada, Evgeny’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 find out for themselves about the possibility of admission to summer schools, talk to the teachers and choose the right place for their children to continue their education.

Cosmopolitan life with a Grenada passport

Our article “Guide to Grenada Citizenship by Investment” gives a detailed account of all the opportunities that a Grenada passport offers.

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

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