Deadline Looming To Benefit From Lower Investment Amount For US EB-5 Programme Green Card
Time is running out for those who wish to take advantage of the current, lower investment threshold for foreigners to access a US Green Card through the Immigrant Investor EB-5 Programme.
As from 21 November 2019, this amount increases from $500 000 to $900 000, points out Chris Immelman, who heads up Pam Golding International. “This is a sizeable hike, especially taking into account the Rand/Dollar exchange rate.
“Also, one needs to allow sufficient time for your application to be submitted and processed, and for transfer of the investment amount, so it’s preferable to not leave it till the last minute.”
Over the past seven or eight years close to 300 South Africans have applied for the US EB-5 Programme. Says Immelman: “There’s no doubt that the trend is gaining traction, particularly since we began promoting this opportunity, having teamed up with American Dream to offer a turnkey service. A key benefit is that your investment capital returns to you after a period of approximately five years.”
The EB-5 programme is the quickest way to obtain a Green Card for you and your immediate family, including children under the age of 21. It enables you to live or work anywhere in the country and the opportunity to become a full US citizen in just five years. As a US citizen, you are eligible for a USA passport and free to travel abroad to over 160 countries as often as you like.
Says Immelman: “While many South Africans have an affinity for Europe and the Indian Ocean islands of Mauritius and Seychelles, the USA offers exceptional opportunities for young people wanting to start a career or study there. The top universities are excellent and offer a multitude of disciplines, and children can take advantage of in-state tuition rates, grants and scholarships. And after all, the US is the biggest economy in the world and has a place for everyone, no matter what your preference is in life.
“With the EB-5 programme you are required to make an investment in a US Government authorised development. Through American Dream, your investment right now is in a single residential project in the heart of downtown Chicago. We personally visited the developers, CA Ventures in Chicago recently, and can vouch for the integrity of the development.”
Known as 210 North Stetson, this is an impressive, 45-storey, mixed-use residential and retail development situated in the heart of Chicago’s thriving Loop neighbourhood, which is considered one of the world’s most important central business districts. Chicago is the economic engine of the Midwest and a global economic centre, attracting more employers moving in from out of state and suburban markets.
Adds Immelman: “As an investor, you are not required to actively manage your investment. Through CA Ventures, the investment project is overseen by a group of highly experienced professionals.”
- New York
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