Important Update: On July 23rd, 2019, U.S. Citizenship and Immigration Services (USCIS) issued sweeping new changes to the EB-5 Program. These changes included an increase in the minimum investment amount. We recommend reading our newest post for a full discussion of the changes.
The controversy over United States businesses sending jobs overseas and denying those jobs to Americans is well known. However, there are instances where citizens from other countries have the ability to bring their business and jobs, to the U.S. The EB-5 Immigrant Investor Program is designed to accomplish just that while also offering the foreign national access to a visa.
The main focus of the EB-5 Investor program, launched in 1990, is that a foreign investor will be able to obtain permanent residency for themselves and their immediate family. However, this relies on an investment at least $500,000 in a company that is experiencing a high rate of unemployment and that the investment generates at least 10 jobs. By participating in the program, these investors are often able to obtain green card status within a year.
Immigrants who seek out their green card through other means, such as through their employer or a family member may take a decade pursuing their goal of permanent residency in the United States.
Benefits of the EB-5 Investor Visa
A lot of people can potentially benefit from the EB-5 fast track program including the investors themselves, their families, the people they employ, and the community where they place their investment dollars. On a larger scale, the money that is spent in the U.S. can boost the economy overall and benefit almost anyone through better-controlled inflation and less poverty driven crime.
In recent years, the EB-5 Program has become more and more popular. Chinese investors have taken advantage of the program most often, submitting 80% of 2014 entrepreneur petitions. American investors have taken to recruiting foreign investors, going as far as offering seminars that show off the benefits of American life to potential candidates. Some businesses have used the program as a way to obtain low-interest financing for expanding or maintaining their business.
Who is currently utilizing the EB-5 Program?
The EB-5 Program attracts more than just Chinese nationals. It has rapidly gained popularly with foreign nationals in the Gulf region, India, and Brazil.
In particular, Brazilians that have been turned off by political controversies at home have taken advantage of the program to start businesses such as daycare centers and assisted living facilities. One consultancy company in Florida that handles EB-5 inquiries noted that they received 30 Brazilian inquiries in a month, when three years ago they only saw about four each year. Russians and Vietnamese also seem to have recently shown a heightened interest in the program.
In the 2014 fiscal year, nearly 11,000 foreign nationals applied to invest via the EB-5 Program. This figure is up over 70% from the previous year that brought in around 6,300 applicants. By contrast, in 2006, not even 500 investors had applied to the program.
The EB-5 Program’s effect on overall immigration
The effect on overall immigration can be viewed in a number of different ways. One point of view is that the immigrant population will be wealthier and have more access to capital. It provides a great way for qualified individuals to gain access to a U.S. visa, while making a positive economic impact in the community by means of job growth and capital for growing businesses.
The EB-5 program can also provide a way for families to avoid the long waiting lists commonly associated with immigrating to the U.S. In addition, it can provide a means to gain permanent residency and allow their children to gain access to the education system.
Are you interested in the EB-5 Program?
Elkhalil Law, P.C. takes great pride in helping foreign nationals immigrate to the United States through the EB-5 Immigrant Investor Program. We have years of experience in making this complex process smoother, easier, and much more manageable for our clients.
If you are interested in the EB-5 Program and need assistance navigating the overall process, contact us today at one of the ways below. We are here to assist every investor with their unique needs.
Office: (+1) 770-612-3499
WhatsApp: (+1) 678-900-6845
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Disclaimer: Nothing in relation to the enclosed information should be construed and or considered as legal advice for any individual, entity, case, or situation. The following information is prepared for advertisement use only. The information is intended ONLY to be general and should not be relied upon for any specific situation. For legal advice on your specific situation, we encourage you to consult an attorney experienced in the area of Immigration Law.