“Does the EB-5 program allow wealthy immigrants to “cut” to the front of the immigration line”?
As a Washington DC EB-5 lawyer, I’m often asked, “Does the EB-5 program allow wealthy immigrants to “cut” to the front of the immigration line”? The answer is a definitive, no. Believed by many to be a shortcut to US permanent residency, the EB-5 program is not a line-cutting program. In fact, the US Government sets aside each year, 10,000 visas for EB-5 investors. Of the 10,000 visas, 3,000 are set aside for investments made in Target Employment Areas (TEA).
As the government specifically sets these visas aside, it’s not possible for EB-5 investors to steal visas from other immigrants or jump to the front of the line. Compared to other countries around the world that utilize a point system for immigration, the United States does not have such a program. Unless a potential immigrant has a job or family member available to sponsor them, there are limited options for obtaining US Permanent Residency.
The EB-5 Visa Program allows these immigrants with limited options to legally move to the US. This misconception that EB-5 investors “buy” their way into the US at the expense of immigrants of lesser means is outdated and simply incorrect. The government implements visa quotas, which allow each visa category a limited number of spaces. Compared to other visa options, the EB-5 visa can be a relatively quick path to a US Green Card and eventual US citizenship.
The benefits of the EB-5 program provide immigrants with a chance to live, work and study in the US, with the added benefit of their investment contribution leading to the growth of the US economy. Each investor’s money is responsible for creating a minimum of ten direct jobs. The indirect job impact can be even greater.
With the growing number of projects and increased sophistication of investors – clients can “shop” around for a project that best suits their needs. Whether they are looking for an active or passive investment, a large return or a small return, they should always keep the three EB-5 goals in mind.
The first goal of any EB-5 investment should be to obtain US permanent residency. The second goal is to recover your initial investment – and finally, the last goal would be to make a bit of profit on your investment. If your only goal is to make money from your investment, then the EB-5 visa is not for you.
To learn more about how our Washington DC EB-5 attorneys can assist you with your EB-5 visa – contact us today.