The EB-5 Program And Why It Is Still The Key To Realizing The American Dream
The United States of America has always been considered the land of the free, the land of opportunities, and the nation of immigrants, as this was a primary pillar in its foundation. As one of the world’s powers, the attention the great nation continues to attract is overwhelming as everyone seeks for an opportunity to become a resident. Naturally, this has resulted in stringent measures for all interested individuals from other nations who want to make America their home. Nevertheless, as the other channels for becoming a resident in the nation becomes harder to attain, its core as the land of opportunities presents an exciting channel. This is becoming a resident of the USA and potentially a citizen through investment.
The idea of investor visas is not new to the United States, considering the concept has been around for 29 years since it was introduced in the Immigration Act of 1990. There are different categories of investor visas that one can take advantage of namely; EB-1A extraordinary ability, E2 treaty investors, EB-2 national interest water, EB-1C multinational manager/executive, and EB-5 visa. Generally, the first four types of investor visas focus on specifics that many people cannot easily acquire making them limited on those who can benefit from them. The only exception is the EB-5 investor visa that is open to everyone who wants to take advantage of a true investment opportunity that comes with extra benefits.
While the introduction of the EB-5 investor visa was for all the right reasons, for most of the early years, it was a complex process that did little to attract investors who were discouraged by its complications. However, major reforms that began in 2005 have over the years worked wonders in streamlining the process and giving it the appeal it deserves to potential investors. Consequently, there has been an upsurge in the number of people who have taken advantage of the program to become residents of America and get to live the dream life. This comes from the many advantages that come with living in the USA, including better quality of life, access to the finest healthcare system, great educational opportunities, and guaranteed protection of property rights and assets.
At a time when the Trump Administration has put lots of hurdles to their immigration programs to curb the crisis that the president has mentioned over and over, there have been new changes to the EB-5 investor program. As from November 2019, applicants for the visa will have to invest $900,000 in a Targeted Employment Area, which is a significant rise from the earlier $500,000. For Non- Targeted Employment Area investors will need $1.8 million up from the earlier $1 million to be eligible for the program. This rise in minimum investment plus other regulatory reforms has pushed the program a notch higher as it becomes more critical to meet all the requirements to have the chance of being an American residence.
The bright side of the EB-5 investor program
Despite the changes that have made it clear that to become an investor in the United States under the EB-5 visa program there is the need for a solid financial ability, it still remains the best opportunity to gain a permanent Green Card. Firstly, there is ready access to established investment companies that have a record for their outstanding investment opportunities. Instead of having to spend a lot of time mulling over the most suitable investment opportunity, as an investor, you can rely on a ready vehicle to drive this all-important process. A company with vast assets under management will offer a raised platform for ensuring that the investment made in the United States will not only lead to residency but high returns.
The investment company will also be responsible for ensuring that the project the capital is invested in meets the United States government qualifications. These are primarily an investment that creates at least ten full-time jobs to Americans and is run under certified Regional Centers. The services of an investment company must then be complemented with the services of an immigration attorney who will speed up the process. Generally, with the right investment vehicle and an attorney to guide you through the EB-5 investment program one can become a permanent resident after five to six years.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.