Nigerians have strong family and business ties with the USA and, with Nigeria being an active trade partner with the US in Africa, it comes as no surprise that wealthy Nigerians see the United States as an ultimate investment destination.
Since the last US travel ban that has got Nigerians blindsided by the inability to enter the US, an increasing number of wealthy individuals are studying options to ease their way to the USA and to have access to global economies.
Currently, one of the highly efficient ways to access the US market is via applying for an E-2 visa of the USA. An E-2 visa is an investor’s visa that offers foreign investors who has invested a substantial amount into the business venture in the USA, an opportunity to reside in the USA to operate their own business and access leading education and work opportunities for their family.
More than 40,000 E-2 visas have been issued by the USA in 2019, however, there is a caveat – an investor should be a national of the country with an E-2 treaty with the USA. Thankfully, there is an efficient way to receive citizenship in an eligible country – Citizenship by Investment programs that make it possible to achieve dual citizenship in exchange for an investment in a project, approved by the government of that country for this purpose.
Here’s how it works
There are many countries that offer citizenship by investment programs but only few of them provide access to the US E-2 visa. Grenada, for example, is the only citizenship by investment jurisdiction in the Caribbean that holds an E-2 treaty with the USA. It is not the only advantage citizens of Grenada enjoy. The country’s citizens can travel visa free to more than 140 jurisdictions including the United Kingdom, Schengen countries, China, Russia revealing endless business opportunities.
The process to seek and obtain citizenship of Grenada is also quite straightforward – an individual should have a budget of up to 300,000 US dollars and has to either make a non-refundable government contribution of a definite amount or make an investment into a government-approved project which he can sell after 5 years. The total investment amount will depend on the number of family members the investor would like to include into his application. The whole process takes around 4-5 months.
As citizenship by investment market has changed over the past 18 months, it is critically important to conduct a due diligence and select a reliable developer with a portfolio of completed projects. Choosing an experienced and well-capitalized developer will ensure the successful application and the project the clients are investing.