eb5exclusive

In search of lucrative business opportunities and an improved education for their children, an increasing number of the wealthy Chinese population are looking to relocate to the U.S. by means of an EB-5 visa.

Qi Lixin, chairman of Bejing Entry & Exit Service Association, told the media outlet China Daily that the number of applicants for the EB-5 nearly doubled in China during 2009, increasing from about 500 in 2008 to more than 1,000 last year.

“As far as I know, there are more than 70 U.S. regional center programs attracting investors in China,” he commented, adding “They said they can return the customer’s money in five years’ time.”

Immigration officials from Bejing’s 76 agencies engaged in immigration business have cited the rising demand of the visas for better family development among the Chinese as a reason for the increased popularity, China Daily reports.

Although applicants are required to invest at least $500,000 in an American business to qualify for the EB-5 visa, Liu Jingjing, a consultant at the immigration agency Beijing Kaisheng told Metro “what we choose are relatively safe programs. So far as I know, all cases we conducted are progressing well.”

In total, the number of approved EB-5 visas has nearly tripled between fiscal years 2008 and 2009 from 1,443 to 4,218 visas, according to the US State Department.