EB5 Visa: The Immigration to USA You May Not Know About
The topic of immigration in the United States receives a lot of media coverage. Much of the news coverage is about undocumented immigrants and how immigrant labor contributes to the US economy, particularly in the agricultural sector. However, in the media coverage of immigration, there has so far been far less attention given to what is turning into a major immigration program that is shaping businesses all over the United States. That program is the EB5 program, and it now brings in thousands of immigrants from all over the world every year. The country with the largest numbers of people who move to the US under this program is currently China.
How the EB5 Program Works
The EB5 immigration program allows foreign nationals with at least $500,000 to invest to move to the US and receive a conditional green card by investing their capital either into a new business venture, or in what is called a Regional Center. Investing in Regional Centers is more popular, because it allows immigrants to invest $500,000, as opposed to the $1 million required from EB5 investors who want to start or buy a non-Regional Center enterprise. If the immigrant meets EB5 requirements, he or she can have Green Card conditions removed after two years, and may pursue citizenship after a further three years.
Projects That Have Benefited from the EB5 Program
While there are over 200 Regional Centers throughout the US, one of the most high-profile Regional Centers is the Jay Peak area of northern Vermont. This remote area near the Canadian border is undergoing a redevelopment process to the tune of half a billion dollars, much of it provided by EB5 immigrants. This new tourist destination not only has the ski facilities one would expect to find in New England, but also year-round recreational projects, like an indoor water park and an indoor mountain bike park.
Why the Program Has Risen so Rapidly in Popularity
Two major factors have worked to increase the popularity of the EB5 program in recent years. One factor was the financial crisis that began in 2008 that made it far more difficult for developers to get loans. At the same time, foreign nationals, particularly those in China, were accumulating sufficient wealth to be able to make $500,000 investments in the US. Large numbers of Chinese were eager to live in the United States and to bring their children to the US so they could be educated here. In 2006, fewer than 1,000 of the allowed 10,000 EB5 visas were issued. In 2012, that number had grown to nearly 8,000. In 2013 or 2014, immigration experts expect the 10,000 visa limit to be reached for the first time.
Immigration Lawyers Prepare for Influx of EB5 Investors
Immigration lawyers are increasingly turning their efforts toward helping EB5 investors move to the US. The process is complex, but thousands of foreign nationals from all over the world are discovering this unique opportunity to not only live in the US, but to help the US economy.
How the EB5 Program Works
The EB5 immigration program allows foreign nationals with at least $500,000 to invest to move to the US and receive a conditional green card by investing their capital either into a new business venture, or in what is called a Regional Center. Investing in Regional Centers is more popular, because it allows immigrants to invest $500,000, as opposed to the $1 million required from EB5 investors who want to start or buy a non-Regional Center enterprise. If the immigrant meets EB5 requirements, he or she can have Green Card conditions removed after two years, and may pursue citizenship after a further three years.
Projects That Have Benefited from the EB5 Program
While there are over 200 Regional Centers throughout the US, one of the most high-profile Regional Centers is the Jay Peak area of northern Vermont. This remote area near the Canadian border is undergoing a redevelopment process to the tune of half a billion dollars, much of it provided by EB5 immigrants. This new tourist destination not only has the ski facilities one would expect to find in New England, but also year-round recreational projects, like an indoor water park and an indoor mountain bike park.
Why the Program Has Risen so Rapidly in Popularity
Two major factors have worked to increase the popularity of the EB5 program in recent years. One factor was the financial crisis that began in 2008 that made it far more difficult for developers to get loans. At the same time, foreign nationals, particularly those in China, were accumulating sufficient wealth to be able to make $500,000 investments in the US. Large numbers of Chinese were eager to live in the United States and to bring their children to the US so they could be educated here. In 2006, fewer than 1,000 of the allowed 10,000 EB5 visas were issued. In 2012, that number had grown to nearly 8,000. In 2013 or 2014, immigration experts expect the 10,000 visa limit to be reached for the first time.
Immigration Lawyers Prepare for Influx of EB5 Investors
Immigration lawyers are increasingly turning their efforts toward helping EB5 investors move to the US. The process is complex, but thousands of foreign nationals from all over the world are discovering this unique opportunity to not only live in the US, but to help the US economy.
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