US citizenship with EB-5: Premature births, years of waiting in line, and avoiding family members even in dire situations many will stop at nothing to obtain permanent residency in the United States. But citizenship can be a check away for those who can afford to pay a million dollars. This is evident in the 1,300-home Jewish community in Glades County, the most sparsely populated area in Florida. Chinese and Indians who wish to reside in the US provide funding for it.
The EB-5 cash-for-immigration program benefits the region. Some Indians can easily obtain permanent residency status in the US under this program, while many others struggle in the tumultuous H-1B debate.Be prepared to spend a million dollars and hire ten or more Americans in the US’s underinvested regions.
Application Process
- The application process for these visas takes six to eight months, during which time applicants are free to work and run their businesses. Unlike the H-1Bs, it does not require sponsorship or have a lengthy wait period.
- As a result, these wealthy investors are moving more quickly to become citizens of the United States.
- This EB-5 visa pathway differs from the typical H-1B and L1 visa pathways, where applications for visas far outstrip the country’s application limits.
EB5 Investment Visa: How to Get the EB-5 Visa | Clear your doubts – Step by Step Process Explained
Investors receive permanent residency, and projects receive funding
- As little as $5,000,000 can be invested by prospective immigrants. However, compared to developed areas, which were better funded, it was more difficult to find projects in rural areas.
- The fact that the wealthy use the EB-5 does not imply that fewer people are applying for it. There are 2,000 EB-5 visas reserved for investors who contribute $800,000 to each rural US location.
- Indians and other foreign investors must invest $800,000 in a Targeted Employment Area (TEA) or $1,050,000 in other areas in order to be eligible for these visas. Along with it, ten full-time jobs must be created.
- However, there is an issue. Big builders and a lot of investors manipulate the system to invest more in cities than in rural areas. Over the past few years, this issue has been brought up time and time again.
Set up to invest in luxurious urban centers
- The wealthy Hudson Yards neighbourhood of Manhattan was designated as a distressed area for the EB-5 capital because the census tract was connected to five public housing projects uptown by a snake-shaped highlight on the map.
- Sam Silverman, managing partner of EB5AN, which sponsors and raises funds for the EB-5 program, stated that there was no reason to invest in rural areas if investing in New York City would yield the same returns.
- A cobalt mill in Missouri, a flour mill in Oregon, and a drug treatment center in Colorado are just a few of the US locations that are attracting investors.
- Ronald Fieldstone, a Miami lawyer, told the NY Post that a Jewish community in Florida is looking to Indian and Chinese investors for $100 million in EB-5 funding toward its $600 million project.
- Instead of waiting years, they can obtain conditional residency and enter the country in a year, according to Fieldstone.
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