Currently, the EB-5 Immigrant Investor Program is the most popular way for foreigners to secure US citizenship. Generally speaking, this Program is particularly designed for private investors who seek permanent residence in the United States. The main objective of this paper is to explore the execution of the Program in question and to address the particular role of regional centers for the Program.
What is the EB-5 Immigrant Investor Program?
The US Congress established the Immigrant Investor Program in 1990, called the EB-5 Program, intended to attract foreign investors. The Program aims at economic progress owing to the collection of capital investments and job creation.
What is the safest way of getting a Green Card?
It is critical to note that the US EB-5 Immigrant Investor Program is based on naturalization. Besides, investing in the US may be regarded as the fastest, safest, easiest, and most secure way of acquiring a Green Card (US citizenship and/or US permanent residency).
According to internationally established principles, citizenship may be acquired at birth or through naturalization subsequent to birth.
Under the EB-5 Program, investors may be found eligible for a conditional and later permanent Green Card (permanent residence) on the grounds of two ways:
Firstly, they must invest the required amount of money into a commercial enterprise based in the US, (minimum investment amount currently 800.000 USD in a Targeted Employment Area),
Secondly, they should create and preserve 10 permanent full-time jobs.
Generally speaking, "commercial enterprise" implies for-profit entities including a sole proprietorship, partnership (whether limited or general), holding company, joint venture, corporation, business trust, and other public or private entities. Besides, non-profit entities are not considered within the scope of the EB-5 visa.
What are the particular roles of regional centers in the implementation of the EB-5 Program?
It is of utmost importance in noting that the Program is managed through the efficient studies of government-approved and designated regional centers. The applicants are granted an opportunity to make a direct investment into a commercial enterprise or make an investment through an EB-5 Regional Center. Nevertheless, regional centers play a critical role in carrying out the mandate of the EB-5 Program in matching applicant investors with appropriate investment opportunities. Therefore, the regional center is considered a much safer and easier way than the previous one. As a consequence, 95% of the investors choose to invest through a regional center.
There are several advantages of making an application for the EB-5 Immigrant Investor Program, as outlined below.
a. The Easiest and the Safest Way
Firstly, it is considered to reiterate that the EB-5 Program offers the easiest and the most secure way of securing a permanent residence.
Secondly, the EB-5 Program extends to investors, their spouses, and unmarried children under 21 of foreign investors by entitling the family members to a permanent US residency (Green Card) and citizenship if required.
c. Visa-Free Travel
Furthermore, the EB-5 Immigrant Investor Program gives the opportunity for visa-free international travel to and from the US.
Fourthly, the permanent residence process through the program works very quickly and ends within 2 years.
Also, permanent residents have a great chance to settle, work and retire anywhere in the US.
Besides, high-level acceptance rates, reduced tuition fees, and merit-based scholarship opportunities for universities and schools are possible.
g. First Step for US Citizenship
Green card holders may be granted US citizenship after they live in the US for at least five years. It is important to note that after five years of permanent residency, the cardholder may apply for citizenship. Therefore, the acquisition of permanent residence through a green card is an important step for naturalization to US citizenship.
h. Repayment Chance
One of the most important aspects of the EB-5 Process is that following the fulfillment of a two-year conditional residency period, the applicant may be considered eligible for repayment. More specifically, the concerned investor is granted a temporary green card for 2 years in return for investment. After 2 years, the investor can be deemed eligible for a permanent green card by proving that he/she officially created 10 jobs or invested in the United States.
To summarize, this article makes useful observations about the essential role of regional centers in the EB-5 Program. Considering the increasing strength of foreign currencies including the USD in terms of Turkish liras, undoubtedly making a reasonable and safe investment in the US may be very helpful for foreign and local entrepreneurs. Of course, necessary procedures for investment types depend on targeted, non-targeted, or high-employment areas. It is worth reiterating that the EB-5 Immigrant Program offers the fastest way of acquiring permanent residency and 'green card' status in the US through job creation and capital investment by immigrant investors. Natural and legal persons investing in the US need a comprehensive strategic consultation and solution partners. Regional centers play a critical role in effectively functioning the EB-5 Program. Such assistance and partnership may pave the way for avoiding high-level risks and time-killer factors.