( associatestimes.com) The United States of America passed legislation that prevents people who buy Grenadian citizenship from having instant access to USA E-2 Visa. The new US policy means CBI passport holders from Grenada must first reside in their adopted country for a period of three years before becoming eligible to apply for an E-2 Investment Visa.
According to the reports, Grenada Citizenship by Investment Programme has been lucrative source of revenue for developing countries like Grenada in recent years. In 2021 Grenada collected 24 million EC dollars from CBI. In 2022. Grenada collects 78 million dollars in revenue from CBI. The newly elected government has projected that it anticipates collecting 240 million dollars in revenue from selling passports in 2023, that’s almost 20 percent of the overall budget for 2023.
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The news that the US has changed its E-2 Visa is terrible news for the newly elected government. It poses a severe threat to the Future viability of the Grenada CBI programme. Most of the people who buy Grenadian passports do so to get an E-2 Visa and enjoy all the excellent benefits of that Visa.
The E2 investor visa allows an individual to enter and work in the United States. Based on investment in USA business. The E-2 Visa can be extended indefinitely and is valid for three months to five years.