There has been a lot of recent media attention surrounding the EB-5 Investment Visa Program, and for good reason. South African residents are not able to emigrate for exchange control purposes (sometimes referred to as a financial emigration) unless they have a lawful right of abode in the country to which they intend to emigrate to. The EB-5 Investment Visa Program gives residents such a lawful right. This programme has therefore become very popular with South African families who are considering relocating to the USA or alternatively who want to enable their children to be able to benefit from the wide array of opportunities available to them in the USA.
What is the EB-5 Investment Visa?
The EB-5 Investment Visa allows an investor to acquire a Green Card for himself, his spouse, and all unmarried children under the age of 21, by investing $500,000 in a qualified EB-5 project.
The EB-5 Investment Visa allows one to live, work, study or open a business anywhere in the USA. Furthermore it is easier (and potentially cheaper) for children to obtain access to the better U.S. universities and colleges if they hold a Green Card.
Job Creation Requirement
In order to be able to qualify for a Green Card, the investor has to invest in a project that creates at least 10 jobs for U.S. workers.
There are 2 ways to invest: A direct approach would entail investing the funds directly into one’s own business. The Investor would have to actively manage the business and prove that the business has created at least 10 jobs. However this approach also comes with a large regulatory burden to ensure that the business meets the strict regulatory requirements of the EB-5 program. It also means that the investor will have to spend most of his time in the U.S. to prove that he is actively managing the business.
By Content Editor, SG for iAfrica
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