EB-5 is a popular Golden Visa for investors seeking to make an investment in the United States. It’s not only a way to live in America, but it also makes for a great retirement plan for investors. The EB-5 program is designed to create jobs and help US economic development. In recent years, the economic climate has changed, so there have been some reforms to the EB-5 program.
The major question is: do these changes make the process more secure for investors? Let’s take a look at some of these reforms and see what they might mean for you.
What is EB-5?
EB-5 is an investor visa for USA that allows foreign nationals to live in the United States and, in some cases, eventually become a US citizen. These visas are handled by the Department of Homeland Security, which has the power to approve green cards for investors.
In order to be eligible for an EB-5 visa, you must invest at least $1 million in a new business or a regional center. If you invest this amount and meet all other requirements, you will receive your green card: Your Golden visa within 2 years. Investors can use this visa as a retirement plan if you plan on retiring abroad or as an investment vehicle to help increase your wealth.
Reforms and How It Affects You
One of the more positive reforms is that the timeline for obtaining a visa has been shortened from 10 years to two years for those who invest $1 million or more in a project that creates at least 10 jobs. This reform gives potential investors comfort knowing they will only wait two years before they can make their way to America.
Another change is that the US Citizenship and Immigration Services (USCIS) will now give priority consideration to investment projects in rural areas with an unemployment rate above 150 percent of the national average. The goal is to create economic growth in rural communities by giving investors opportunities for job creation.
Lastly, reform requires that all EB-5 investments be subject to review by DHS’s Fraud Detection and National Security Directorate. In recent years, it had become commonplace for foreign nationals to buy a property without investing any money into the U.S., which meant there was no job creation involved. With this new requirement, investors looking to take advantage of this golden visa would need to prove they’ve invested at least $1 million or created at least 10 jobs in a struggling area within 180 days after receiving their green card.
The importance of the EB-5 Visa program
The EB-5 program allows foreign investors to make a $500,000 investment in the United States. It makes it possible for those who invest in the US to qualify for residency in the USA. It has become one of the secure ways for foreign investors to live and work in the US.
The reforms that have been made are designed to protect investors from making an investment and not being able to get their money back. You can now only invest if you live outside of these designated restricted countries: Iran, Syria, North Korea, Sudan and Cuba. Previously, these restrictions were applied only on investments that were coming from Iran or Syria.
And that’s why EB-5, or the EB-5 Immigrant Investor Program, provides immigrant investors with a way to obtain a green card and a pathway to citizenship. In the past few years, reforms have been made to this popular investment visa program. With these changes, there are more security measures for both the investor and for the U.S. government.