Grenada citizenship and E-2 visa may solve the
Chinese retrogression problem
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Grenada citizenship and E-2 visa may solve the Chinese retrogression problem
Some countries, notably China, do not have an E-2 treaty with US but face severe EB-5 retrogression. Given this dilemma, many lawyers are advising Chinese investors to apply for citizenship of another third country. Grenada citizenship seems to be the preferred route. Firstly, there is no residency requirement in Grenada. Once applicants obtain Grenada citizenship, they can then apply for the E-2 visa to come to the United States directly from their home country without ever going to Grenada. The source of funds requirement of E-2 is also much less onerous than that of EB-5. Applicants can obtain Grenada citizenship within six months. E-2 processing lasts a couple of months as well. Therefore, the total process takes less than a year. The spouse of the E-2 visa applicant can work at any job of their choosing with no restrictions. Typically, the duration of this visa is 5 years for citizens of Grenada with unlimited 5 year extensions thereafter. If the investor has the means, s/he can also apply for the EB-5 visa once in the US with E-2.
What is the Chinese retrogression problem?
Retrogression is not an issue specific to the Chinese. Any country whose EB-5 investors (and their dependent family members) consume more than 7% of the quota could be subject to retrogression. Since there are currently only 10,000 EB-5 visas granted annually, investors coming from a country with more than 700 EB-5 visa seekers in one year could theoretically be subject to retrogression. In fact, the next retrogression candidate will likely be Vietnam followed by India if their current application trend continues. Chinese investors seeking a green card may need to wait as long as 17 years.
A closer look at the E-2 solution
Potential investors who can no longer afford the EB-5 due to currency devaluations, such as potential investors from Turkey, can consider E-2 as a solution. Chinese investors for whom the E-2 visa option is not available should consider a third countries’ citizenship that will avail them to this visa. Grenada is a perfect candidate for this. Grenada citizens can get E-2 for a 5-year duration within a 2-month processing time. To learn about the benefits of the E-2 visa, please visit USCIS website.
While the idea of E-2 visa as an interim path to US residency is not a new or novel idea, for Chinese Homeland born citizens, E-2 is perhaps the only viable alternative to EB-5. Since China is not one of the countries that have bilateral investments treaty with the US, the easiest route to receiving a second citizenship seems to be through Grenada.
For further information on how to become a Grenada citizen and/or purchase an existing franchise or business in order to apply for the E-2 please do not hesitate to email us at email@example.com or call us directly at + 1 917 355 9251.
Posted by americaeb5visa on August 27, 2018