With the strength of the U.S. dollar and unemployment rate reaching pre-recession levels, many are keen to review the investment immigration process of the United States.
Dubai — In a rush to obtain secondary passports from Western nations, Investors from the Middle East have been reviewing their choices among the various nations that are willing to “sell” a passport or citizenship.
In light of the different public and private parties involved in securing an investor a foreign passport or citizenship, how can one best navigate the sea of information surrounding the topic of North American investor immigration and citizenship? Perhaps the best starting point is to understand the fundamental differences between the US and Canadian program, and begin by asking the right questions.
With the strength of the US dollar and an unemployment rate reaching pre-recession levels, many are keen to review the investment immigration process of the United States. The United States EB-5 Green Card program provides a method of obtaining residency and access to a plethora of benefits that are afforded to all US Green Card holders and citizens.
The foreign national would typically invest $500,000 in a business enterprise that would either create or preserve at least 10 jobs for US Workers. The investment in turn would provide an expedited path to US residency and a Green Card to the investor, his or her spouse, and any minor children under the age of twenty-one.
This program has seen a tremendous response from those in this region who seek to obtain US passports for their families, have their children attend free public school education in the US, and gain subsidized college tuitions through government guaranteed loans, grants, and scholarships.
Currently the United States program can appear to be a bargain compared to the competing Canadian investment immigration program. The Canadian program has seen recent changes as of January 2015 that now mandates an investment four times as much as the US program and requires an investment term of fifteen years, as opposed to the typical five-year term of US Investment projects.
Notwithstanding, there may be changes in the future for the US program that may raise the investment threshold, but for the short term, many foreign investors are capitalizing on what appears to be a discounted path to US residency, and ultimately citizenship with a US passport.
US Congress initially instituted the EB-5 investment program in 1992, and since then there has been steady approvals of immigrant petitions nearing 85%. Since the program is structured around the boosting of employment in the US, it has seen bipartisan support from both Democrats and Republicans.