EB5 News Update
The USA EB5 program was introduced in 1990. The aim was to attract overseas investments into the country, thereby creating jobs and stimulate the economy. In return, the US government grants those investors a US permanent residency visa or commonly called ‘Green Card’. With the green card, the investors and their families will then have a right to live, study, work or conduct business activities in the US.
The EB5 program states that the green card may be granted to investors if they have:
- Make the necessary investment in a business in the USA and
- Plan/create/preserve 10 permanent full time employment for US workers.
The investors have the choice of investing personally or choose to work with a regional center. Generally, a regional center would pool a number of investors into a large project, for example, building of a shopping center or an apartment block. All EB5 regional centers have to be approved by the US Citizenship & Immigration Services(USCIS). You can view the approved EB5 regional centers here.
Currently, the minimum investment amount is US $ 500,000 and there are 10,000 visas issued annually. There are always concerns in the EB5 industry if EB5 program is going to end. Come 30th September 2019, industry experts are predicting that the EB5 program will be extended for 2019-2020 and the investment amount is most likely to be raised to $1.3 million from $500,000.
Some countries are facing backlog in their applications due to the large number of applications from that country. The Chinese applicants are facing a long delay in processing times upto 15 years. Another group, the Vietnamese applicants are beginning to experience a slight delay with India close behind.
Considering the EB5 Program?
As governments changes their policies constantly, this EB5 program may or may not be around for long depending on the current US adminstration. But ithe program has high chances of continuation as the EB5 program does helps the US economy and create jobs.
If you are interested and want to learn more on this ‘golden visa’ program, please contact us. Make use of the low investment amount before it goes up later this year!