Can you grant a colony independence?
Can you then declare war, annex it and keep the lands or will they revert back to a colony?
If it doesn't become a colony can you then release said colony as a vassal? Will that vassal begin to colonize on its own?

Can you then declare war, annex it and keep the lands or will they revert back to a colony?
If it doesn't become a colony can you then release said colony as a vassal? Will that vassal begin to colonize on its own?