India has been witnessing a rapid growth of private wealth and with that a significant increase in high net worth individuals (HNWIs) interested in greater global mobility.
With the suspension of the US H1B and L1 visas, and the now unaffordable and lengthy EB-5 investment, Indian families wanting to live the American dream are seeking alternative options. Enter the US E-2 Investment Visa, that can easily be obtained via the popular Grenadian Citizenship by Investment
CBI or economic citizenship is a way of legitimately acquiring a second passport. This offers HNWIs from developing countries like India greater migration options and a way to secure their families future with access to top education, a way to diversify their investment portfolio and hedge against political, economic, and social volatility in their home country. With Grenada citizenship, you get all that as well as visa-free travel to over 143 countries, including the UK, EU Schengen, Russia and China.
Grenada and E-2, a gateway to living in the USA
Importantly, Grenada has an E-2 visa treaty with the USA, meaning approved E-2 visa applicants are eligible to start a business and live in the USA with their family. The spouse of the applicant has open market employment opportunity and children are eligible for in-state tuition, in most states. Processing time for the E-2 visa is usually only two months and can be done at a consulate.
The beautiful Caribbean country of Grenada is seeing increased interest from CBI investors as it is a fast, efficient and straightforward process, taking as little as 60-90 days to process.
For investors wanting to acquire Grenadian citizenship, an investment in a Government-approved real estate project is required at the minimum investment amount of US$220,000 (approx. INR 1.6 Cr) plus government fees. With the E-2 visa prospect and no need to visit Grenada during the application process and no physical residency requirement, Indian investors are finding this a very appealing option.
Amongst the many benefits, Grenada doesn’t tax worldwide income, wealth, gift, inheritance or capital gains tax. There is no interview, education, language test or management experience required.
Kimpton Kawana Bay Resort, The Real Estate Investment of Choice
Ideally located on the world-famous Grand Anse beach, with magnificent views over the Caribbean Sea, Kimpton Kawana Bay is the newest 5-Star luxury resort in Grenada, and the leading CBI real estate project on the island.
Title-deeded studios and suites are for sale from US$220 000. With a projected rental income of 3-5% through a transparent revenue-sharing model, once-off personal accommodation usage of up to 2 weeks and no annual out of pocket fees, purchasing at Kimpton Kawana Bay resort is a financially sound investment. Investors can also sell after five years and recoup their initial property investment.
‘’In 2020, 57% of all Grenada CBI real estate applications were for Kimpton Kawana Bay, illustrating the confidence investors have in our project. We have continued seeing high levels of interest in 2021, especially from our Indian clients”, says Tom Scott, Managing Director of Kimpton Kawana Bay.
The project is 79% sold out and over 550 individuals have been approved for citizenship to date. Currently under advanced construction and set for completion in 2022, the resort features an infinity-edge pool, state-of-the-art gym and spa facilities, exquisite fine dining restaurant, roof-top bar, beach bar, lounge with terrace and water sports facilities. The resort will be run by the boutique operator Kimpton® Hotels & Restaurants, part of IHG (Intercontinental Hotels Group), one of the world’s largest hotel chains.
Grenada is a safe, unspoilt tropical island which enjoys a growing economy and stable democracy. Its English-speaking population are amongst the happiest and most well educated in the Caribbean. Citizens have access to top schools including 90% tuition fee discounts at Grenada’s, St. George’s University, the world’s largest offshore American accredited medical school.
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