The EB-5 visa program was designed to provide green cards to foreign nationals who invest in economic development in the United States, especially in lower-income areas. Understanding of the program is still evolving, with more communities trying to tap what they see as a potential source of inexpensive, patient capital.
Over the years, Miami has been referred to as the city’s sixth borough, and it would appear that in the exclusive world of luxury real estate, this has never been truer. A wave of New York City developers has washed onto the Floridashoreline in recent months, bringing with them New York buyers, and increasingly, New York City-type pricing.
US President Barack Obama announced in November a number of changes as part of his ‘Executive action’ on immigration reform. Workpermit.com has summarised the main changes that may benefit those applying for the EB-5 investor visa category.
Along with stock and real estate portfolios, the global rich are now buying a new form of economic security: passport portfolios.
Wealthy investors from around the world are increasingly shopping for visas or citizenship in other countries, hoping for a personal hedge against their own volatile governments or economies. A vast majority are new millionaires and billionaires from emerging-market countries, especially China, Russia and nations in the Middle East. Often, they’re shopping for passports or entree into Europe, the United States, Canada and Australia.
Developers Raise Millions for U.S. Projects Through EB-5 Visa ProgramDevelopers Raise Millions for U.S. Projects Through EB-5 Visa Program