Posts tagged Green Cards
The EB-5 Visa – Do I Need to Invest in a Regional Center Where I Want to Live?
Stephen Parnell
Aug 3rd
The EB-5 regional center pilot program visa provides the opportunity for green cards and permanent residency in the USA for the applicant, their spouse and children under 21. The U.S. government, through The United States Citizenship and Immigration Service (USCIS) has so far approved approximately 100 regional centers to offer programs that qualify for this visa which requires an investment of $500,000 if the program is in a Targeted Employment Area (TEA).
One of the questions sometimes asked by potential applicants is do I have to live in the area that I invest in? The simple terms answer is no. Under the regional center pilot program you are free to invest in any of the regional center programs and can live wherever you want, regardless of where you invest.
Having established you do not need to invest where you live, it is worth examining why you would even want to.
It is a reasonable assumption that most families looking at the EB-5 regional center route to permanent residency in the USA, wish to invest in program that best matches their priorities and requirements, which according to leading EB-5 consumer advocates, has:-
� A good track record of approvals.
� Clear evidence that the program will create 10 jobs per investor, or in certain cases save jobs, and return the $500,000 investment.
� A fixed term so they know exactly when their investment will be returned.
Most don’t want
� Ambiguity regarding the term, particularly in the current economic climate
� A center that has experienced a number of refusals, particularly at the I-829 stage. (This relates to the removal of conditions after two years).
� A center currently experiencing litigation or potential shut down by USCIS.
� Directors with an ambiguous or troubled history.
� A regional center program that simply views the program as an easy and cheap way to raise cash, from captive and unprepared overseas investors.
As you can from the above criteria, the key is to find the best program to match your requirements rather than focusing on a program in the location you are planning to reside in. It is imperative you chose the most appropriate EB5 regional center program regardless of where it is located, as you require it to work, so the necessary jobs are created, the program succeeds and your investment is returned. It is pointless choosing a program in the area you are planning to live in unless it can deliver these essential requirements.
