EB5 Investors Magazine Volume 5, Issue 2 - Page 133

GRENADA an investment in a government- approved real-estate development or other economically beneficial project. The NTF donation is the cheaper option, newly priced at $150,000 for individual investors or $200,000 for a family of four, but offers no return on investment. The investment option requires a minimum investment of $350,000, held for at least three years in one of 18 government-approved projects, plus a government donation of $50,000; unlike the donation, however, it can provide investors with rental income or other long-term revenue streams. So far in 2017, Grenada has seen 188 donation-based CBI applications, and 108 investment-based applications. Grenada’s citizenship-by-investment program, which was created in mid- 2013, is booming. Since 2015, a new marketing push has helped triple the island's CBI receipts, adding $116.91 million to the tiny island’s economy so far this year. That’s a vast improvement on the $2.63 million the program raised through government donations and real-estate investments in 2014. This September alone, more people filed CBI applications than in all of 2014, according to government data. “In the last two years we’ve seen a particular increase in the number of people,” says Micha Rose Emmett, CEO of CS Global Partners, which has handled marketing for Grenada’s CBI program since 2015. “Any country that introduces a program needs to develop trust with applicants in different regions. I believe that since 2015, Grenada has established that, and reinforced it.” Grenada saw just 23 citizenship- by-investment applications in 2014, but the rate rose to 108 in 2015 and 116 in 2016. This year, investments are climbing even higher, with 296 applications in the first three quarters of 2017; including dependents, the island has created 484 new citizens through the program so far this year. The NTF donation has become the more popular option as the CBI program has grown, in part because it’s easier for investors to understand, Emmett says. “Grenada has done more this year than in all the other years combined,” says Warren Newfield, Grenada’s ambassador-at-large and the country’s consul general in Miami. “When you’re making an investment, you want to know what the ROI is and what your obligations are,” she explains. “The NTF is a much more straightforward and purer route to investment.” “The government has been delighted to see the momentum it’s building.” Now, the government is pushing to further improve the program’s performance, reducing the minimum investment for individual investors, and streamlining numerous areas of the program’s administration to make it more attractive. THE BENEFIT OF GRENADA’S E-2 TREATY WITH THE UNITED STATES TWO PATHS TO CITIZENSHIP Investors have two main pathways to gaining citizenship in Grenada: a direct donation to the government’s National Transformation Fund, or A big part of the Grenada program’s newfound success can also be attributed to a growing realization that Grenadian citizenship allows investors to seek an E-2 investor visa to settle in the United States, Emmett says. The E-2 visa doesn’t provide permanent residency or a pathway to US citizenship, but can allow EB5INVESTORS.COM 132