During his recent visit to China, President Obama announced that Chinese citizens would be eligible to apply to the U.S. government for 10-year tourist visas. We have already begun to receive questions from Chinese nationals asking why they should go through the meticulous EB-5 process when they could access a 10-year tourist visa much more easily. The National Law Review has helped us answer that question.
There are two essential reasons why opting for a 10-year tourist visa instead of an EB-5 investment visa is a bad idea.
1.Being “eligible to apply” does not mean “you will receive.” Although you may apply for a 10-year visa, the U.S. consulate may decide to give you a shorter-term visa, as little as six months, instead. Alternately, they have the option of not granting a visa at all.
2.A tourist visa allows the holder to vacation in the U.S. It does not allow the holder to immigrate, reside or study here.
Typical of most political announcements, this one was interesting, but fuzzy in its meaning. We hope this helps to clarify the matter for potential Chinese investors.
To learn the facts about the EB-5 investment visa program and how to put it to work for you, contact Dr. Gregory Finkelson at American Corporate Services or call 415-682-2550. To order my book, How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services - A Practical Guide for Regional Centers, Attorneys, Developers and Businessmen, click here.
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