EB-5 Visa Allows Investors Permanent Residency: The EB-5 Immigrant Investor program, enacted in 1990, is a way for foreign investors to help boost the American economy and, in the process, gain residency in Florida or in other states across the U.S.
Foreign investors can obtain an EB-5 visa if they invest $1,000,000, or $500,000 in high unemployment areas, that leads to the creation or preservation of at least 10 jobs. These investors and their families receive a two year visa that allows them to live and work in the U.S., and if the investment is successful, they can eventually receive permanent U.S. residency.
EB-5 Visa Allows Investors Permanent Residency
Jupiter, FL, has used this program to construct an outdoor amphitheater, marina slips, and an entertainment hub, San Bernardino, CA, has used it to redevelop its downtown theatre district, Jay, Vermont used it to help finance luxury condos, an ice hockey rink, and a waterpark at its popular Jay Peak Resort, and Philadelphia has used the program to expand a hospital complex and improve a school for disabled children.
Along with the benefits of the program, there are also risks. Some investors have failed to maintain or create the required jobs, or failed to otherwise comply with the program, and faced deportation. Others have lost their investment, but have still secured their green cards.
Despite the risks, many foreign investors are still taking the chance. The EB-5 program is one of the fastest ways for wealthy foreign investors who lack the family ties or special skill required for a traditional U.S. visa to establish a permanent U.S. residency.
Sources: LA Times, WCAX.com
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