 |
 |
 |
Koreans invest about $400 million through EB-5 visa program
As increasingly more U.S. enterprises seek foreign investment by achieving EB-5 regional center status, the suggestion that an EB-5 investment opportunity can expedite the process to U.S. residence has caught the attention of a growing number of South Koreans.
In 1990, the U.S. government began issuing green cards to immigrants who invested at least $1 million in a U.S. business, under the EB-5 visa program.
Between 2006 and 2008, a total of 1,454 Koreans obtained green cards through the program, the highest total of any of the 67 countries that participated. Additionally, through 2009, Koreans were estimated to have invested about $400 million in U.S. commerce, the South Korean news provider Chosun Ilbo reports.
Aside from obtaining a green card, EB-5 investors enjoy lower tuition fees for education in the U.S.
“I decided to apply for the immigration program with the children’s education in mind,” one EB-5 visa holder told the news source.
She added, “I tell people that immigration through investment is the easiest and quickest way to get a green card.”
In total, 70 percent of all EB-5 visas issued in 2009 were split between people of Chinese and South Korean descent, the Washington Post reports.