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When is a good time to apply for an EB-5 visa?
In 2009, a total of 4,218 foreign investors from successfully applied for and received an EB-5 visa, giving them and their families a good chance of attaining permanent residency in the U.S. in as little as two years.
According to the U.S. State Department, that figure nearly tripled from 1,443 visas granted in fiscal year 2008.
The rapidly increasing popularity of the EB-5 visa program is no fluke. In the depressed economy, more foreign nationals are taking advantage of the U.S. Citizenship and Immigration Service’s willingness to draw in foreign capital by issuing more green cards to wealthy investors.
Today, potential investors have more options for their money than ever before. In just over a year, the number of certified EB-5 regional centers has rocketed from about 20 to 83.
With this large number of investment opportunities, foreigners can choose between a variety of projects and industries to find the one that they believe is best suited for long-term growth.
Additionally, those who apply for an EB-5 visa now, will effectively be reaching out to a class of business executives and politicians who are eager to flaunt the benefits of the investor visa in order to promote similar policies in the future.
After unveiling a proposal for a similar visa program late in February, Senator John Kerry, a Democrat from Massachusetts, told the Economic Times that issuing visas to enterprising immigrants would create a “magnet for innovations and innovators to come to the U.S. and create jobs.”
Furthermore, he called the expansion of investor visas “a double shot in the arm” for providing “robust job creation at home and reaffirmation that we’re the world’s best place to do business.”
Likewise, the National Venture Capital Association (NVCA), a trade group that represents the U.S. venture capital industry, said that an expansion of the EB-5 visa program could be instrumental in creating a business climate that is appealing to the world’s top entrepreneurs.
A 2006 study commissioned by the NVCA found that about one-quarter of public venture-backed companies in the U.S. were founded by immigrants, including Intel, eBay, Yahoo! and Google.
Investors wishing to capitalize on the EB-5 visa program may wish to seek out an immigration attorney who can help explain the procedural nuances and assist with preparing an application.